North America Conversational AI Market Forecast to 2031 – Regional Analysis – by Component (Platform and Service), Type (Chatbots and Intelligent Virtual Assistants), Deployment Type (On-Premise and Cloud), and Industry (Retail & E-commerce, Healthcare & Life Sciences, Travel & Hospitality, BFSI, IT & Telecom, Media & Entertainment, and Others)
The North America conversational AI market was valued at US$ 3,235.60 million in 2022 and is expected to reach US$ 14,481.37 million by 2031; it is estimated to register a CAGR of 20.6% from 2023 to 2031.
Growing E-Commerce Sector Fuels North America Conversational AI Market
Since the COVID-19 pandemic, there has been a surge in online shopping across the world. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world’s population) bought products from online portals. In November 2024, the Census Bureau of the Department of Commerce announced that the estimated US retail e-commerce sales for Q3 of 2024 were US$ 300.1 billion. This represents an increase of 2.6% from the Q2 of 2024. Further, in Q3 of 2024, e-commerce sales increased by 7.4% compared to the same quarter in 2023. E-commerce sales in Q3 of 2024 accounted for 16.2% of all retail sales. The growing demand for online shopping is raising the demand for conversational commerce. Intelligent AI-powered shopping bots are revolutionizing the e-commerce industry by interacting with their customers, providing personalized guidance, and further driving sales. Also, by leveraging machine learning and natural language processing, conversational AI helps engage meaningful dialogues, understand customer needs, and nurture leads in real time. Thus, the growing e-commerce sector propels the conversational AI market growth.
North America Conversational AI Market Overview
The North America conversational AI market has been segmented into the US, Canada, and Mexico. Substantial investments by leading tech giants in research and development of AI-enabled solutions and services have facilitated continuous innovative developments in the US. Also, the high penetration of smartphone devices in the country propels the US conversational AI market growth. According to the Global System for Mobile Communications Association (GSMA), smartphone adoption in the US was 84% in 2022 and is expected to increase to 89% by 2031. In addition, the growing demand for superior customer experience, grievances addresses, technical support, and customer engagement without an increase in operational costs fuels the market growth. As a result, the market players are consistently developing numerous innovative and interactive chatbot-based solutions for their vast end-user industries, which propels the growth of the US conversational AI market.
North America Conversational AI Market Revenue and Forecast to 2031 (US$ Million)
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North America Conversational AI Market Segmentation
The North America conversational AI market is categorized into component, type, deployment type, industry, and country.
Based on component, the North America conversational AI market is segmented into platform and service. The platform segment held a larger share of the North America conversational AI market share in 2023.
By type, the North America conversational AI market is bifurcated into chatbots and intelligent virtual assistants. The chatbots segment held a larger share of North America conversational AI market in 2023.
In terms of deployment type, the North America conversational AI market is bifurcated into on-premise and cloud. The on-premise segment held a larger share of North America conversational AI market in 2023.
Based on industry, the North America conversational AI market is segmented into retail & e-commerce, healthcare & life sciences, travel & hospitality, BFSI, IT & telecom, media & entertainment, and others. The retail & e-commerce segment held the largest share of the North America conversational AI market share in 2023.
By country, the North America conversational AI market is segmented into the US, Canada, and Mexico. The US dominated the North America conversational AI market share in 2023.
Alphabet Inc; Amazon.com Inc.; Artificial Solutions International AB; Cognigy GmbH; International Business Machines Corp; Kore.ai Inc.; Microsoft Corp; Oracle Corp; Rasa Technologies Inc; and SAP SE are some of the leading companies operating in the North America conversational AI market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Conversational AI market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. North America Conversational AI market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing E-Commerce Sector
5.1.2 Increasing Demand for Chatbot Solutions
5.2 Market Restraints
5.2.1 Rising Privacy Concerns
5.3 Market Opportunities
5.3.1 Rising Demand for Conversational AI in Healthcare Sector
5.3.2 Emergence of Generative AI
5.4 Market Trends
5.4.1 Growing Adoption of Conversational AI in Gaming Industry
5.5 Impact of Drivers and Restraints:
6. Conversational AI market – North America Analysis
6.1 North America Conversational AI Market Overview
6.2 Conversational AI market Revenue (US$ Million), 2021–2031
6.3 Conversational AI market Forecast Analysis
7. North America Conversational AI market Analysis – by Component
7.1 Platform
7.1.1 Overview
7.1.2 Platform: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
7.2 Service
7.2.1 Overview
7.2.2 Service: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
8. North America Conversational AI market Analysis – by Type
8.1 Chatbots
8.1.1 Overview
8.1.2 Chatbots: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
8.2 Intelligent Virtual Assistants
8.2.1 Overview
8.2.2 Intelligent Virtual Assistants: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
9. North America Conversational AI market Analysis – by Deployment Type
9.1 On-Premise
9.1.1 Overview
9.1.2 On-Premise: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
9.2 Cloud
9.2.1 Overview
9.2.2 Cloud: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10. North America Conversational AI market Analysis – by Industry
10.1 Retail and E-commerce
10.1.1 Overview
10.1.2 Retail and E-commerce: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.2 Healthcare and Life Sciences
10.2.1 Overview
10.2.2 Healthcare and Life Sciences: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.3 Travel and Hospitality
10.3.1 Overview
10.3.2 Travel and Hospitality: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.4 BFSI
10.4.1 Overview
10.4.2 BFSI: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.5 IT and Telecom
10.5.1 Overview
10.5.2 IT and Telecom: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.6 Media and Entertainment
10.6.1 Overview
10.6.2 Media and Entertainment: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11. North America Conversational AI market – Country Analysis
11.1 North America
11.1.1 North America: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
11.1.1.1 North America: Conversational AI market – Revenue and Forecast Analysis – by Country
11.1.1.2 United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.2.1 United States: Conversational AI market Breakdown, by Component
11.1.1.2.2 United States: Conversational AI market Breakdown, by Type
11.1.1.2.3 United States: Conversational AI market Breakdown, by Deployment Type
11.1.1.2.4 United States: Conversational AI market Breakdown, by Industry
11.1.1.3 Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.3.1 Canada: Conversational AI market Breakdown, by Component
11.1.1.3.2 Canada: Conversational AI market Breakdown, by Type
11.1.1.3.3 Canada: Conversational AI market Breakdown, by Deployment Type
11.1.1.3.4 Canada: Conversational AI market Breakdown, by Industry
11.1.1.4 Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.4.1 Mexico: Conversational AI market Breakdown, by Component
11.1.1.4.2 Mexico: Conversational AI market Breakdown, by Type
11.1.1.4.3 Mexico: Conversational AI market Breakdown, by Deployment Type
11.1.1.4.4 Mexico: Conversational AI market Breakdown, by Industry
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
14. Company Profiles
14.1 Amazon.com Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 International Business Machines Corp
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Alphabet Inc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Oracle Corp
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 SAP SE
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Microsoft Corp
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Artificial Solutions International AB
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Cognigy GmbH
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Kore.ai Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Rasa Technologies Inc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
List of Tables
Table 1. North America Conversational AI market Segmentation
Table 2. Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Table 3. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 4. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Deployment Type
Table 6. Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 7. North America: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 8. United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 9. United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Deployment Type
Table 11. United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 12. Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 13. Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Deployment Type
Table 15. Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 16. Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 17. Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 18. Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Deployment Type
Table 19. Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 20. Heat Map Analysis by Key Players
Table 21. List of Abbreviation
List of Figures
Figure 1. North America Conversational AI market Segmentation, by Country
Figure 2. Ecosystem Analysis: Conversational AI Market
Figure 3. Conversational AI market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Conversational AI market Revenue (US$ Million), 2021–2031
Figure 6. Conversational AI market Share (%) – by Component (2023 and 2031)
Figure 7. Platform: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Service: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Conversational AI market Share (%) – by Type (2023 and 2031)
Figure 10. Chatbots: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Intelligent Virtual Assistants: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Conversational AI market Share (%) – by Deployment Type (2023 and 2031)
Figure 13. On-Premise: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Cloud: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Conversational AI market Share (%) – by Industry (2023 and 2031)
Figure 16. Retail and E-commerce: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Healthcare and Life Sciences: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Travel and Hospitality: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. BFSI: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. IT and Telecom: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Media and Entertainment: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Others: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. North America Conversational AI Market, by Key Countries - Revenue (2023) (US$ Million)
Figure 24. North America: Conversational AI market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 25. United States: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Canada: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Mexico: Conversational AI market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Company Positioning & Concentration
- Alphabet Inc
- Amazon.com Inc.
- Artificial Solutions International AB
- Cognigy GmbH
- International Business Machines Corp
- Kore.ai Inc.
- Microsoft Corp
- Oracle Corp
- Rasa Technologies Inc
- SAP SE
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