The evolution of chatbots has enabled the exchange of information between the client and the organization on an artificial intelligence platform. The smart devices that are integrated for the purpose of customer engagement are expected to become more self-governing and intelligent in terms of solving client queries.

Some of the major factors that are driving the growth of the chatbots market include the proliferating demand of intelligent customer engagement, surge in demand of automated patient management tools in healthcare industry, adoption of cloud-based technology, and strong need to understand consumer behavior. The adoption of Chatbots software is propelled by the increasing demand for 24/7 assistance for queries and easy operational activities.

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Large enterprises is expected to have the largest market share during the forecast period. Customer retention and better revenue generation; leading towards the growth of adoption of chatbot technology in the large enterprises.

Moreover, the integrated Natural Language Processing (NLP), Machine Learning, Speech Recognition, and Text-To-Speech technologies have enhanced the efficiency as well as user satisfaction. The emergence of IoT has also made the software more robust and incorporated the cloud-based deployment of the chatbots software, which offers the large adoption of chatbots technology.