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AI Chatbots Market to Be Worth $22.6 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., Dec. 12, 2024 /PRNewswire/ — According to a new market research report titled ‘AI Chatbots Market by Offering (Platforms, Services), Organization Size (Large, Small & Medium), Deployment Mode, Communication Medium, End User (IT & Telecommunications, Retail & E-commerce, Others) & Geography—Forecasts to 2031′. 

The AI chatbots market is projected to reach $22.6 billion by 2031, at a CAGR of 27.8% during the forecast period 2024–2031.

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AI chatbots are software applications that utilize artificial intelligence (AI) to engage in conversations with humans. They interact with users in a natural, conversational manner, either through text or voice, and are designed to simulate human-like communication. AI chatbots are commonly used for customer service, information retrieval, and other tasks that benefit from automated conversations.

The growth of the AI chatbots market is primarily driven by the increasing adoption of AI chatbots in the IT & telecom sectors, a greater emphasis on enhancing self-service operations, the rising use of generative models in AI chatbots, and growing demand for 24/7 customer support. However, concerns about data privacy and security may restrain the market’s growth.

Moreover, the need to automate business processes, the integration of AI chatbots with smart devices, and the increasing use of AI chatbots in the retail and e-commerce industries are expected to create significant growth opportunities for market players. However, misconceptions and a lack of awareness regarding AI chatbot solutions are some of the challenges affecting market growth.

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Additionally, the growing adoption of voice-enabled chatbots, the increasing use of AI chatbots for customer interactions, and their integration with natural language processing (NLP) are prominent trends in this market.

The AI chatbots market is segmented based on offering (platforms [standalone, web-based, message-based, other platforms], services [professional services, managed services]), organization size (large enterprises, small & medium-sized enterprises), deployment mode (on-premise deployments, cloud-based deployments), communication medium (websites, mobile apps), end user (IT & telecommunication, BFSI, retail, e-commerce, healthcare & life sciences, manufacturing, travel & hospitality, media & entertainment, education, government & public entities, and other end users). The report also provides a comprehensive analysis of the AI chatbots market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

AI Chatbots Industry Overview: Latest Developments from Key Industry Players

In September 2024, Snap Inc. partnered with Google LLC to enhance generative AI experiences within Snapchat’s My AI chatbot. This collaboration will enable the chatbot to utilize Google’s Gemini AI, leveraging its multimodal capabilities to understand several types of information, including text, audio, images, and videos.In July 2024, Tonik Digital Bank Inc., the first digital-only neobank in the Philippines, partnered with Gupshup Inc., a leading conversational cloud provider, to develop a cutting-edge generative AI chatbot for Tonik’s mobile app. This solution is designed to provide customers with instant and accurate responses to frequently asked questions, transforming the way they interact with their bank.In July 2024, Xiao-I Corporation (China) partnered with a telecommunications provider to implement its advanced AI chatbot solution. This collaboration aims to transform the provider’s customer service operations by improving service efficiency, reducing operational costs, and delivering 24/7 personalized support.

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Among the offerings studied in this report, the services segment is slated to register a higher CAGR during the forecast period. This segment’s growth is driven by the rising adoption of voice-activated AI assistants, increasing demand for personalized services, and the growing need for AI chatbot services to enhance customer experience.

Among the deployment modes studied in this report, the cloud-based deployments segment is slated to register a higher CAGR during the forecast period. This segment’s growth is driven by the rising need for advanced AI and NLP technologies, increasing demand for flexibility in remote management, and the growing adoption of cloud-based AI chatbots among small and medium-sized enterprises.

Among the organization sizes studied in this report, the small & medium-sized enterprises segment is slated to register a higher CAGR during the forecast period. This segment’s growth is driven by the increasing need for cost-effective customer service solutions, the growing adoption of cloud-based technologies, and the rising demand for automation to improve efficiency and scalability. Additionally, SMEs, which often have limited manpower, are turning to AI-powered chatbots to handle customer inquiries and support tasks, enabling them to provide timely and effective service without the need for extensive human resources.

Among the communication mediums studied in this report, the mobile apps segment is slated to register a higher CAGR during the forecast period. This segment’s growth is driven by the rising number of smartphone users, the increasing adoption of mobile commerce, and the need for businesses to provide instant, on-the-go customer support through AI chatbots, enhancing user experience and engagement.

Among the end users studied in this report, the retail & e-commerce segment is slated to register the highest CAGR during the forecast period. This segment’s growth is driven by the continued rise of online shopping and digital retail, the demand for 24/7 customer support, the need for instant responses to FAQs, and the integration of AI with CRM and marketing systems.

Among the regions studied in this report, the market in Asia-Pacific is slated to record the highest CAGR of 29.5% during the forecast period. The growth of this regional market is driven by the increasing adoption of AI chatbots across various sectors, the need to automate business processes, and the presence of key market players in the region. Additionally, infrastructural growth in APAC, particularly in China, South Korea, Japan, and India, rapid economic development, the surge in e-commerce, advancements in AI and machine learning technologies, and increasing investments by market players further contribute to the market’s growth in Asia-Pacific.

The key players operating in the AI chatbots market are OpenAI OpCo, LLC (U.S.), Microsoft Corporation (U.S.), Google LLC (U.S.), Amazon Web Services, Inc. (U.S.), NVIDIA Corporation (U.S.), International Business Machines Corporation (U.S.), Perplexity AI, Inc. (U.S.), Zoho Corporation Pvt. Ltd. (U.S.), GET JENNY OY (Finland), Acuvate (U.K.), Freshworks Inc. (U.S.), Jasper AI, Inc. (U.S.), Anthropic PBC (U.S.), Writesonic, Inc. (U.S.), Next IT & Systems LLC (UAE).

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Scope of the Report:

AI Chatbots Market Assessment—by Offering

PlatformsStandaloneWeb-basedMessage-basedOther PlatformsServicesProfessional ServicesManaged Services

AI Chatbots Market Assessment—by Organization Size

Large EnterprisesSmall & Medium-sized Enterprises

AI Chatbots Market Assessment—by Deployment Mode

Cloud-based DeploymentsOn-premises Deployments

AI Chatbots Market Assessment—by Communication Medium

WebsitesMobile Apps

AI Chatbots Market Assessment—by End User

IT & TelecommunicationsCustomer SupportFraud Detection and SecurityPlan RecommendationsAutomate TasksOther IT & Telecommunication ApplicationsBFSICustomer SupportAccount ManagementAsset & Wealth ManagementFinancial Transactions & OperationsRisk AssessmentOther BSFI ApplicationsRetail & E-commerceCustomer SupportPersonalized Product RecommendationsSales & MarketingManage Inventory & Purchase OrdersOther Retail & E-commerce ApplicationsHealthcare & Life SciencesScheduling AppointmentsPatient Data Collection & FeedbackRequest Prescription RefillsOther Healthcare & Life Sciences ApplicationsManufacturingCustomer SupportInventory Management Personalized Product Recommendations Other Manufacturing ApplicationsTravel & HospitalityCustomer SupportBranding & AdvertisingPersonalized Recommendations Other Travel & Hospitality ApplicationsMedia & EntertainmentCustomer SupportPersonalized Content RecommendationsSubscription & Event RegistrationConducting SurveysBranding & AdvertisingOther Media & Entertainment ApplicationsEducationVirtual Personal TutoringCourse Registration & Enrollment QueriesFeedback Collection & Data RepositoryBetter Student EngagementOther Education ApplicationsGovernment & Public EntitiesCitizen Feedback & Complaint HandlingGovernment Information, Registration, & ServicesOther Government & Public Entities ApplicationsReal EstateAutomate Follow-up and FeedbackSchedule Property Viewings and Virtual ToursDocument Processing and ManagementOther Real Estate ApplicationsOther End Users

AI Chatbots Market Assessment—by Geography

North AmericaU.S.CanadaEuropeU.K.GermanyFranceSpainItalySwitzerlandNetherlandsRest of EuropeAsia-PacificChinaJapanIndiaSingaporeSouth KoreaAustralia & New ZealandIndonesiaRest of Asia-PacificLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaUAEIsraelRest of Middle East & Africa

AI Chatbots Market Research Summary

Particulars

Details

Number of Pages

250

Format

PDF

Forecast Period

2024–2031

Base Year

2023

CAGR (Value)

27.8 %

Market Size (Value)

USD 22.6 Billion by 2031

Segments Covered

By Offering

PlatformsStandaloneWeb-basedMessage-basedOther PlatformsServicesProfessional ServicesManaged Services

By Organization Size

Large EnterprisesSmall & Medium-sized Enterprises

By Deployment Mode

Cloud-basedOn-premises

By Medium

WebsitesMobile Apps

By End-use industry

IT & TelecommunicationsCustomer SupportFraud Detection and SecurityPlan RecommendationsAutomate TasksOther IT & Telecommunication ApplicationsBFSICustomer SupportAccount ManagementAsset & Wealth ManagementFinancial Transactions & OperationsRisk AssessmentOther BSFI ApplicationsRetail & E-commerceCustomer SupportPersonalized Product RecommendationsSales & MarketingManage Inventory & Purchase OrdersOther Retail & E-commerce ApplicationsHealthcare & Life SciencesScheduling AppointmentsPatient Data Collection & FeedbackRequest Prescription RefillsOther Healthcare & Life Sciences ApplicationManufacturingCustomer SupportInventory Management Personalized Product Recommendations Other Manufacturing ApplicationsTravel & HospitalityCustomer SupportBranding & AdvertisingPersonalized Recommendations Other Travel & Hospitality ApplicationsMedia & EntertainmentCustomer SupportPersonalized Content RecommendationsSubscription & Event RegistrationConducting SurveysBranding & AdvertisingOther Media & Entertainment ApplicationsEducationVirtual Personal TutoringCourse Registration & Enrollment QueriesFeedback Collection & Data RepositoryBetter Student EngagementOther Education ApplicationsGovernment & Public EntitiesCitizen Feedback & Complaint HandlingGovernment Information, Registration, & ServicesOther Government & Public Entities ApplicationsReal EstateAutomate Follow-up and FeedbackSchedule Property Viewings and Virtual ToursDocument Processing and ManagementOther Real Estate ApplicationsOther End-use industries

Countries Covered

North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia & New Zealand, Indonesia, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (UAE, Israel, Rest of Middle East & Africa)

Key Companies

OpenAI OpCo, LLC (U.S.), Microsoft Corporation (U.S.), Google LLC (A Subsidiary of Alphabet, Inc.) (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.Com, Inc.) (U.S.), NVIDIA Corporation (U.S.), International Business Machines Corporation (U.S.), Perplexity AI, Inc. (U.S.), Zoho Corporation Pvt. Ltd. (U.S.), GET JENNY OY (A Subsidiary of LeadDesk Oyj) (Finland), Acuvate (U.K.), Freshworks Inc. (U.S.), Jasper AI, Inc. (U.S.), Anthropic PBC (U.S.), Writesonic, Inc. (U.S.), Next IT & Systems LLC (UAE).

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Generative AI Market Size, Share, Forecast, & Trends Analysis by Offering (Software, Services), Model (Generative Adversarial Networks, Transformer), Data Modality (Text, Video, Image), End User (IT & Telecommunications, BFSI, Media & Entertainment) and Geography – Global Forecast to 2031 – https://www.meticulousresearch.com/product/generative-ai-market-6008

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About Meticulous Research Pvt. Ltd.

We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with market intelligence designed to drive revenue transformation and strategic growth. Our insights reveal future growth opportunities, equipping clients with a competitive edge through a versatile suite of research solutions—including syndicated reports, custom research, and direct analyst engagement. Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight major sectors and 20+ geographic markets, all to deliver targeted business insights that help our clients lead in a rapidly evolving global market.

With a strong focus on problem-solving for complex business challenges, our research enables organizations to navigate change with assertion, aligning it with strategic pathways for sustainable growth. By identifying innovative and effective solutions, we empower leaders to make impactful decisions that drive operational excellence and fuel innovation. We are committed to crafting insights that enhance business performance and help our clients unlock new revenue opportunities, positioning them for long-term success in the competitive global marketplace.

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AstroRad Vest Worn by Astronauts Aboard International Space Station to Go on Display at Smithsonian National Air and Space Museum

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The historic exhibition follows landmark radiation protection findings from NASA’s Artemis I mission, whose AstroRad vest is separately displayed at Kennedy Space Center.

TAMPA, Fla., Oct. 30, 2026 /PRNewswire/ — StemRad, a developer of advanced radiation protection technology, shared that one of its AstroRad radiation protection vests, flown aboard the International Space Station (ISS) and worn by five space travelers, will go on display in the At Home in Space gallery at the Smithsonian’s National Air and Space Museum in Washington, D.C.

The vest was worn by four female American astronauts and an Israeli private astronaut during everyday activities aboard the ISS, including work and sleep. These in-orbit evaluations provided valuable experience with the practicality and comfort of wearable radiation protection during extended space missions.

The Smithsonian exhibition follows the recent publication of landmark scientific findings in Science Advances from NASA’s Artemis I mission. The research demonstrated AstroRad’s ability to dramatically reduce radiation exposure during potentially cancer-inducing solar radiation storms: for the August 1972 storm, which occurred between Apollo 16 and 17, a 60% reduction in dose was demonstrated (roughly 1,200 chest X-rays). This provided important evidence for protecting astronauts on future missions to the Moon and Mars.

The AstroRad vest that traveled around the Moon aboard Artemis I is separately on display at NASA’s Kennedy Space Center Visitor Complex in Florida. Together, the two exhibits trace AstroRad’s journey from operational evaluations aboard the ISS to radiation protection research beyond Earth’s magnetic field.

“Having AstroRad displayed at the Smithsonian is a tremendous honor and a proud milestone for our team,” said Dr. Oren Milstein, CEO and Co-Founder of StemRad. “Knowing that a technology we developed to help protect astronauts is now being recognized as part of the history of space exploration is incredibly rewarding. With AstroRad also on display at Kennedy Space Center following the groundbreaking Artemis I mission, we hope these exhibits will inspire future generations to tackle the challenges of human space exploration.”

“The AstroRad vest helps tell two stories in the new At Home in Space exhibit,” said Dr. Jennifer Levasseur, Museum Curator, and the lead curator for the gallery. “Importantly, the vest represents efforts to protect astronauts from the significant concern of increased radiation exposure on long duration spaceflights. It’s also an example of how technology demonstrations on the ISS will inform future human deep space exploration.” AstroRad was developed by StemRad in collaboration with Lockheed Martin to address one of the principal challenges of human space exploration: exposure to harmful ionizing radiation. The ISS operational evaluations, the Artemis I scientific results, and the Smithsonian and Kennedy Space Center exhibitions collectively highlight the growing role of wearable radiation protection in the future of human spaceflight.

About StemRad

StemRad is an American-Israeli company specializing in personal radiation protection technologies. Its solutions are designed to protect critical organs and tissues from harmful ionizing radiation while preserving mobility and operational effectiveness. StemRad develops radiation protection solutions for space exploration, emergency response, and defense applications.

Media Contact
StemRad
Tamar Cohen
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425954@email4pr.com
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Three Products Featuring TCL CSOT Displays Named to TIME’s Best Inventions of 2026

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SHENZHEN, China, Oct. 30, 2026 /PRNewswire/ — TCL’s flagship X11L SQD-Mini LED TV, the XTEINK X4 Pro Pocket eReader and the Framework Laptop 13 Pro have been named to TIME’s Best Inventions of 2026 list. All three products feature displays supplied by TCL CSOT.

TCL X11L: Advancing Large-Screen Picture Quality

As the only Chinese TV selected in the consumer electronics category of TIME’s Best Inventions of 2026, the TCL X11L features the TCL CSOT WHVA 2.0 Ultra Panel, delivering a native contrast ratio of 7,000:1 and 100% BT.2020 color space coverage. Its display technology combines the TCL CSOT Ultra Color Filter with 20,736 Precise Dimming Zones and 10,000-nit peak HDR brightness. Powered by SQD-Mini LED technology, which delivers an industry-leading color gamut, the X11L captures subtle variations in light, further advancing large-screen picture quality.

In its Best Inventions of 2026 coverage, TIME noted that “those who manufacture TVs are constantly seeking new ways to one-up their competitors, either through unique design or unmatchable image quality.” The TCL X11L, the publication stated, “promises the latter with an LED panel that employs ‘super quantum dot’ technology, designed with the capacity to emit light at more specific nanometer wavelengths than previously available tech. The resulting image is extremely color accurate but also impressively bright.”

XTEINK X4 Pro: Bringing Reading to Your Pocket

The XTEINK X4 Pro features a 4.3-inch E Ink display that uses reflective imaging technology and emits no blue light, delivering a paper-like reading experience designed to reduce eye fatigue during extended use. Its capacitive touchscreen and adjustable warm-and-cool front lighting help provide comfortable reading conditions throughout the day and night.

TIME wrote, “While the most popular e-readers are smaller than a hardcover, many are still a bit too large for true grab-and-go convenience. XTEINK filled the gap with its X3 and X4 e-readers.” Beyond its compact size, the XTEINK X4 Pro further enhances the reading experience with an upgraded, higher-capacity battery, making pocket-sized reading convenient at any time of day or night.

Framework Laptop 13 Pro: A Repairable, Upgradeable Laptop

The Framework Laptop 13 Pro combines a modular, repairable design with a custom 13.5-inch 2.8K touchscreen supplied by TCL CSOT. The display module measures 2.0 mm thick on the device side and 2.1 mm on the PCB side, with a weight of only 180 g, supporting the laptop’s modular architecture. The updated model also features a 74 Wh battery and a haptic trackpad, while its modular design allows users to replace or upgrade components and customize their configuration, from memory and keyboard options to ports.

TIME recognized the laptop for making high-performance computing more repairable and user-customizable. The newly updated Framework Laptop 13 Pro is more “like a bicycle,” says Framework CEO Nirav Patel. “Every part is easy to replace.” With an included screwdriver and components designed for replacement and upgrades, the laptop enables users to repair and personalize their devices themselves, and help extend product lifespan. By putting repair and customization in users’ hands, the Framework Laptop 13 Pro offers a more flexible and sustainable approach to personal computing.

The inclusion of all three products in TIME’s Best Inventions of 2026 highlights not only the strength of each product, but also TCL CSOT’s end-to-end capabilities from technology R&D to industry collaboration. Looking ahead, TCL CSOT will continue to advance multiple display technology pathways and collaborate with industry partners to expand applications across diverse scenarios, bringing high-quality, slim, eye-care and environmentally friendly display solutions to more users.

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Bybit Brings Its New Financial Platform Vision to Hong Kong FinTech Week 2026

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LISBON, Portugal, Oct. 30, 2026 /PRNewswire/ — Bybit, the New Financial Platform trusted by more than 80 million users worldwide, announced its participation in Hong Kong FinTech Week (HKFTW) 2026, Asia’s premier fintech summit bringing together global financial leaders, regulators, and innovators at the Hong Kong Convention and Exhibition Centre from November 2 to 6, 2026.

Bybit’s senior leadership will take the stage during the two-day main conference, joining more than 1,000 global speakers and 45,000 participants from over 120 economies at one of the year’s most anticipated events for changemakers in financial services and innovation.

Ben Zhou, Co-founder and CEO of Bybit, will deliver a fireside chat on the Main Stage on November 3 titled “Bridging the Divide: The Next Chapter of TradFi & Crypto Convergence.” The session will explore how AI-driven platform innovation, institutional-grade infrastructure and asset tokenization are reshaping the boundary between traditional financial markets and the digital asset ecosystem.

Sean Ballard, Head of Derivatives and Institutional Business at Bybit, will join a panel discussion titled “The Future of Trading: Next-Generation Market Infrastructure and Liquidity” alongside executives from Panthertrade, Gravity Team and BitGo on November 3. The panel will examine how AI-driven execution models, tokenized market access, and synchronized liquidity pools are converging to create more resilient, capital-efficient and accessible trading infrastructure for professional market participants.

Themed “Fintech Nexus: Bridging the World, Building the Future”, HKFTW 2026 is organized around three strategic engines: Finance+, AI+, and Go Global, reflecting the city’s role as a super-connector between capital, innovation and international markets. The event features 10 dedicated forums, including the Digital Assets and Web3 Forum and the AI in Finance Forum, with keynote speakers from leading global financial institutions and regulators.

Bybit is not licensed by the Hong Kong Securities and Futures Commission, and its services are not available to the public in Hong Kong.

About Bybit

Bybit is The New Financial Platform.

We believe every person should have access to every financial opportunity on earth. That’s why we’re building the first intelligent platform that connects anyone, anywhere to the world’s finance.

Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

Built for everyone. Powered by intelligence. Open to the world.

Learn more at Bybit.com.
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