AI in Customer Service Market size worth US$1,384.688 million by 2029

The AI in customer service market is projected to grow at a CAGR of 23.93% over the forecast period, from US$473.659 million in 2024 and is expected to reach US$1,384.688 million by 2029.

AI is among the most advanced and latest technological solutions, which offers its capabilities across multiple industries, like manufacturing, healthcare, BFSI, and automotive among others. In the global customer service sector, artificial intelligence-based tools and platform is expected to revolutionize the customer experience across multiple industries. In the customer service sector, AI helps to design and create personalized, accurate, reliable, and faster support experiences. AI in customer services also helps in boosting the efficiency of the customer services platform, and it also reduces the cost of operations. It also optimizes customer service experience and has the capability to handle higher support demand.

• Growth Drivers of the AI in Customer Service Market

The global demand for AI in the customer services market is expected to witness significant growth majorly with the rising development in the global AI-based technological sector, and increasing demand for customer service platforms. Moreover, the increasing usage of the internet across the globe is also forecasted to boost the demand for AI in the customer service sector significantly. With the growth in the global demand for customer services market, various companies and organization across the globe will increase their investments in further developing the efficiency of these platforms. For instance, in October 2024, iQor, a global customer engagement solution leader, launched an AI-simulated training solution, which is aimed at boosting the efficiency of customer service performance. Similarly, the global leader in cloud-based technology company, Salesforce Inc., in October 2024, announced the launch of its Autonomous AI Agents, which is aimed at boosting the workforce scale. The company also launched Agentforce Service Agent, which is a customer-based AI agent, which offers efficient customer service experiences.

• Segmentation of the AI in Customer Service Market

Artificial intelligence (AI) in the customer service market, under the technology segment, is categorized into chatbots, virtual assistance, generative AI-based FAQs, and data insights from customers. Under the technology segment of the global Artificial intelligence (AI) in the customer service market, the chatbot category is forecasted to witness significant growth during the forecasted timeline. Chatbot or AI chatbot is a type of conversational platform, which offers text-based responses to the users. The chatbots, in the customer service market, help efficiently and quickly offer support to the customer’s queries. It analyzes the customer’s interaction and recommends personalized suggestions.

Under the deployment segment, artificial intelligence (AI) in the customer service market, is categorized into cloud, on-premise, and hybrid. The cloud category in the deployment segment of Artificial intelligence (AI) in the customer service market is estimated to attain a greater growth rate. In the cloud-based deployment model, the data along with the algorithms are stored in a data center, which is connected to the internet. This deployment solution offers easy deployment of the platform and also reduces the operating cost of servers and other components.

The application segment of artificial intelligence (AI) in the customer service market, is categorized into finance, technology company, government, retail, healthcare, hospitality, and others. The finance category, in the global Artificial intelligence (AI) in the customer service market, under the application segment is estimated to attain a greater market share. In the finance sector, the AI-based customer service platform helps in the finance industry by automating customer queries and offering personalized results. It can also suggest various investment and saving schemes.

Based on geography, the North American region is forecasted to witness the maximum share of global artificial intelligence (AI) in the customer service market. North America is among the leading regions in developing and integrating AI-based technologies across multiple sectors, like finance, education, healthcare, manufacturing, and industrial among others. Countries like the USA and Canada have also introduced multiple key policies and investment opportunities to boost the development of AI-based technologies in the region.

• Key Players in the AI in Customer Service Market

The research includes several key players from the AI in Customer Service Market, such as Aisera, Vonage America, LLC, Nuance Communications, Inc., NitroBots (iCumulus Pty Ltd), Tiledesk, Nokia, IBM, Amelia US LLC, Zendesk, CallMiner, Convin, Enthu.AI, NICE, Verint, and Bright Pattern, Inc.

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This analytics report segments artificial intelligence (AI) in the customer service market as follows:

• By Technology
  • Chatbots
  • Virtual Assistance
  • Generative AI-based FAQs
  • Data Insights from Customers
• By Deployment
  • Cloud
  • On-Premise
  • Hybrid
• By Application
  • Finance
  • Technology Company
  • Government
  • Retail
  • Healthcare
  • Hospitality
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others
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