64 Important Chatbot Statistics in 2024

Chatbots have recently become very popular when pandemics occur around the world. According to market statistics, the global chatbot market is expected to be worth $137.6 million this year and $1.25 billion by 2025. Chatbots are becoming increasingly popular in a variety of industries, from customer service to sales to education. These AI-powered bots can automate tasks, provide support to customers, and even generate leads. 

We have compiled 64 chatbot statistics to show how chatbot usage, trends, and market revenue have evolved. Let us begin!

Top Chatbot Statistics in 2024

Here are some of the top chatbot statistics that you need to know:

• The global chatbot market is expected to grow to $1.3 billion by 2025, at a CAGR of 24%.
• By 2023, it is expected that chatbot eCommerce will total $112 billion.
• More than 50% of enterprises will spend more per year on bots and chatbot creation than traditional mobile app development.
• By 2024, it is expected that bots will answer 75–90% of queries.
• Chatbots can save up to 50% on customer support costs.
• According to Juniper Research, the number of voice assistants will increase by 1000% to 275 million by 2023.
• 67% of global consumers had an interaction with a chatbot over the last 12 months.
• 87.2% of consumers have had neutral or positive experiences with chatbots.
• Chatbots are projected to handle 90% of healthcare and banking queries in 2023.
• On Facebook Messenger, there are over 300,000 chatbots.
• Quickly answering a question is the most common use case for chatbots.
• 41.3% of consumers use conversational marketing tools for purchases.
• The top 5 chatbot-using nations are Brazil, Germany, the United Kingdom, India, and the United States.
• Only 1 in 10 customers gave their most recent chatbot interaction a bad review. 

These statistics show that chatbots are becoming increasingly popular and important in various industries. Chatbots can help businesses save money, improve customer service, and increase sales. If you’re not already using chatbots in your business, it’s time to start considering them. Chatbots can help you improve your customer service, increase sales, and reduce costs.

How to Use Chatbots? 

Chatbots are computer programs that mimic conversations with real users. By using AI bots, companies can enhance their customer service models. With the help of this tool, companies can collect more leads to generate sales repeatedly. 

According to Statistica, 23% of customer service organizations currently employ AI chatbots. 

They are applied in a wide range of fields and situations, such as:

1. Customer service

Chatbots can be used to provide 24/7 automated customer support, answer common questions, and resolve issues. This can free up human agents to focus on more complex problems. Global chatbot market statistics are projected to reach $9.4 billion by 2024. (Business Insider)

2. Sales and marketing 

To generate leads, qualify prospects, and guide customers through the sales pipeline, chatbots can be used. They can also be used to provide product recommendations and answer customer questions about products and services. For example, Sephora’s chatbot can help customers find the right makeup products for their skin type and tone. This practice increases customer engagement. 

3. Education

In the education sector, chatbots can be used to provide personalized instruction, answer students’ questions, and assess their progress. They can also be used to provide practice problems and feedback. In this way, it helps to minimize teacher’s stress and work pressure.

5. Healthcare

Chatbots can be used to provide patients with information about their conditions, answer their questions about medications, and schedule appointments. They can also be used to monitor patients’ symptoms and provide support. For example, the Cleveland Clinic’s chatbot can help patients schedule appointments and answer questions about their conditions.

6. Banking and finance

Banking sectors are using AI bots because they can be used to check account balances, transfer money, pay bills, handle customer queries, and much more. For example, Bank of America’s chatbot can help customers check their account balances and transfer money between accounts.

7. Travel

Travel agencies need to be alert 24/hr to maintain their customers’ inquiries so that AI assistants can be used to book flights, hotels, and rental cars. For example, Expedia’s chatbot can help customers book flights and hotels.

These are a few examples of how AI bots are used, but there are many other possibilities. The future of AI bots is very impressive because they can be used as personal assistants, among other things. Let’s learn about chatbot statistics for various businesses!

Chatbot Market Revenue Statistics

According to Mordor Intelligence, global chatbot market revenue is expected to reach USD 5.86 billion in 2023. This represents a compound annual growth rate (CAGR) of 29.18%. The growth is attributed to the increasing adoption of chatbots by businesses of all sizes to improve customer service, reduce costs, and boost sales. 

Due to the rising popularity of messenger apps and the expanding use of consumer analytics by various businesses around the world, the chatbot market is expanding. To meet customer needs and market demands, vendors worldwide are integrating technologies like AI and NLP into their products.

Here are some key statistics on chatbot market revenue:

• The chatbot market is expected to grow at a CAGR of 29.18% from 2023 to 2028, reaching a value of USD 21.08 billion by 2028.
• North America is expected to be the largest chatbot market in 2023, accounting for a revenue share of 35%.
• The banking, financial services, and insurance (BFSI) industry is expected to be the largest end-user segment of the chatbot market in 2023, accounting for a revenue share of 25%.
• Cloud-based chatbots are expected to be the most popular type of chatbot in 2023, accounting for a revenue share of 70%.

The chatbot market is still in its early stages of growth, but it is rapidly expanding. AI bots are becoming increasingly sophisticated and capable, and businesses are finding new and innovative ways to use them to improve their operations.

Chatbot Adoption Statistics

1. Chatbot adoption is growing rapidly, with a projected market size of $994 million by 2024.
2. According to Invesp, 34% of online retail customers accept the use of chatbots.
3. Salesforce statistics show that 23% of customer service organizations are using AI chatbots as their brand communication channel.
4. 70% of customers prefer chatbots over human agents when it comes to simple questions, says Salesforce.
5. 69% of consumers prefer to use chatbots because they provide instant responses, according to Userlike.
6. Invesp, an organization, created a report showing that 65% of consumers feel comfortable handling an issue without a human agent.

Chatbot Sales Statistics

7. According to Statista, the global chatbot market is expected to reach $1.25 billion by 2025, up from $190.8 million in 2016.
8. Business leaders claim that, on average, chatbots can increase sales by 67%, as revealed by Outgrow, and 36% of companies turn to the chatbot market to improve lead generation.
9.  According to a PwC study, 62% of consumers would rather use a customer service bot than wait for human agents to respond to their inquiries.
10.  HubSpot says that 74% of internet users prefer using chatbots when looking for answers to simple questions.  
11.  65% of consumers feel comfortable handling an issue without a human agent. (Microsoft)
12.  According to Salesforce, 69% of consumers prefer chatbots because they provide immediate responses. 

Chatbot Lead Generation Statistics

Chatbots have revolutionized lead generation, boasting impressive statistics that highlight their effectiveness. With up to a 3-4 times increase in website engagement and conversion rates rising by as much as 10-15%, their impact is undeniable. Operating 24/7, chatbots capture leads even during off-hours, contributing to a potential 45% increase in lead generation.

By personalizing interactions, they achieve 2-3 times higher conversion rates, while also enhancing lead qualification efficiency by 30-50%. Cost-effective and data-rich, chatbots offer insights into customer behavior, enabling businesses to target leads more effectively.

Integrated across multiple channels, they broaden lead generation opportunities by 2-3 times. With instant responses and continuous learning capabilities, chatbots represent a cornerstone in modern chatbot lead generation strategies.

13.  55% of companies report better quality leads because of the chatbots they use. (Colorlib)
14.  82% of companies that use conversational marketing tools say that they are essential elements of their sales and marketing strategy. (Drift)
15.  Consumers generally (87.2%) have positive or neutral experiences with chatbots. (Startup Bonsai)
16.  Chatbots have a 10% average interaction rate. This is significantly higher than the average email open rate of 21.33%. (Colorlib)
17.  Chatbots can save businesses up to 30% on their customer support costs. This is because chatbots can handle many routine tasks that would otherwise require human intervention. (Giosg)

Chatbot Business Statistics

18. The global chatbot market is expected to reach $137.6 million in 2023 and $454.8 million by 2027.
19.  80% of people have interacted with a chatbot at some point, and 60% of millennials say they have used chatbots.
20.  23% of customer service organizations are currently using AI chatbots, and 58% of websites that use chatbot software are for B2B companies.
21.  In a survey, 64% of businesses said they expect chatbots to be a significant part of their customer service strategy by 2023.
22.  Businesses can save an average of $0.70 to $0.80 per chatbot interaction compared to traditional customer support methods.
23.  58% of businesses are already using chatbots, and 22% plan to start using them in the next year. 

Chatbot E-Commerce Statistics

24.  A study by Tidio found that the conversion rate of chatbots in some industries can reach up to 70%.
25.  Another study by Outgrow found that business leaders claim that, on average, chatbots can increase sales by 67%.
26.  According to trends, many chatbots can now understand natural language and respond to customer queries in a human-like manner.
27.  According to a study by Intercom, 35% of business executives say that using virtual agents makes it simpler to close deals. 
28.  According to a study by Salesforce, 83% of organizations believe that improved chatbots will be the top generative AI application in commerce.
29.  The satisfaction rate for chatbots is around 87.58%, which is 2% higher than the rate for live chat conversations.

Chatbot Social Media Statistics

30.  According to a recent survey, 87% of consumers had neutral or positive experiences with chatbots on social media.
31.  62% of consumers would prefer to use a customer service bot on social media rather than wait for a human agent to answer their request.
32.  41.3% of consumers use conversational marketing tools on social media to make purchases.
33.  On Facebook Messenger, chatbots handle 68.9% of conversations from beginning to end.
34.  74% of internet users prefer using chatbots on social media when looking for answers to simple questions.
35.  According to a recent survey by Gartner, chatbots will be the primary customer service channel for more than 50% of enterprises by 2025.

Chatbot Statistics Healthcare 

36.  A study by the University of Pittsburgh found that patients who used a chatbot to manage their diabetes were more likely to take their medication on time and keep their blood sugar under control.
37.  The global healthcare chatbots market is expected to reach USD 431.47 million by 2028, growing at a CAGR of 15.20% during the forecast period. (Vantage Market Research, 2023)
38.  75% of healthcare delivery organizations (HDOs) will have invested in an AI capability that is explicitly improving either operational performance or clinical outcomes by 2023. (Gartner)
39.  North America is expected to dominate the global healthcare chatbot market, accounting for over 60% of the revenue share in 2032.
40.  The software segment is expected to dominate the global healthcare chatbots market by component, accounting for over 70% of the revenue share in 2032.

Chatbot Statistics In Banking

41. Chatbot banking is a rapidly growing industry, with the global chatbot in banking, financial services, and insurance (BFSI) market expected to reach $6.83 billion by 2030. 
42.  According to a report on the adoption rate by Juniper Research, 30% of banks worldwide are expected to be using chatbots by 2023. 
43.  A study by Drift found that 41.3% of consumers are willing to use AI bots to purchase financial products and services.
44.  
45.  Juniper Research estimates that banks can save up to $11 billion per year by using chatbots.
46.  Bank of America uses chatbots to help customers with a variety of tasks, including checking balances, transferring money, and paying bills.

Chatbot Customer Support Statistics

47.  68% of consumers prefer to use chatbots because they provide instant responses. (Startup Bonsai)
48.  65% of consumers feel comfortable handling an issue without a human agent. (Salesforce)
49.  40% of web users do not mind whether they are served by a bot or a human agent, as long as they receive the customer support they require. (Statista)
50.  62% of consumers would prefer to use a customer service bot rather than wait for human agents to answer their requests. (Drift)

Also read: Importance of Customer Satisfaction (Internal linking)

Chatbot Global Growth Statistics

51.  The global chatbot market is expected to grow from USD 5.86 billion in 2023 to USD 21.08 billion by 2028, at a compound annual growth rate (CAGR) of 29.18% during the forecast period.
52. By 2026, it is predicted that the market for chatbots will grow to $10.5 billion. (Grand View Research)
53.  The Asia-Pacific region is expected to witness the highest growth in the global chatbot market during the forecast period.
54.  The retail and e-commerce segments are expected to account for the largest share of the global chatbot market in 2023.
55.  Key sectors that have embraced chatbots include e-commerce, healthcare, banking and finance, customer support, and retail.
56.  Major tech companies, including IBM, Microsoft, Google, and Facebook, have developed chatbot platforms and services.

Chatbot Benefit Statistics 

AI chatbots are passing market trends and can simulate conversations with humans more accurately. Many businesses of all sizes are using AI bots to improve their customer service, sales, and marketing. The number of people who use this tool is rapidly increasing because it not only improves customer service but also helps to reduce costs.

57.  According to a survey by Salesforce, 69% of consumers prefer to use chatbots for customer service because they provide instant responses and reduce wait times.

58. Juniper Research estimates that chatbots can save the healthcare sector $11 billion annually.

59. According to a study by Outgrow, 36% of companies use AI assistants for lead generation, and they claim that it can increase sales by 67% on average.

60. Research by Hubspot says that chatbots can increase customer engagement by 80%. For example, Domino’s Pizza uses a chatbot to allow customers to order pizza through text messages. The chatbot has helped Domino’s increase sales by 25%.

61. Zendesk reported that chatbots can reduce customer support costs by up to 30%.

62. Chatbots can free up HR departments to concentrate on more strategic tasks by automating repetitive tasks like screening resumes and scheduling interviews.

63. Juniper Research shows chatbots are going to save businesses $8 billion by 2023.

64. According to a survey by Drift, 53% of employees say that chatbots have made them more productive. So, chatbots are beneficial to both workers and companies.

What is the future of chatbots in 2024?

The chatbot market is expected to continue to expand rapidly in 2024 and beyond. AI bots are adopted in a wider variety of fields and applications as they become more capable and sophisticated. 

Here are some of the key trends that we can expect to see in the chatbot industry in 2024:

• Wider adoption of chatbots: Many businesses are already using chatbots in customer services
  , but their adoption is expected to grow even further in 2024. This is because bots offer several benefits for businesses, such as improved customer service, reduced costs, and increased efficiency.
• New use cases for chatbots: Chatbots are currently being used mostly for customer service and marketing. However, in 2024 and even beyond, we can expect to see chatbots being used for a wider range of tasks, such as sales, human resources, and education.
• Integration with other technologies: Chatbots will be integrated with other technologies, such as artificial intelligence, machine learning, and natural language processing, to make them even more powerful and versatile. Chatbots will be integrated with other devices and platforms, such as smart home devices and wearables, to provide a more seamless and integrated user experience.
• Human resources: AI bots will be used to automate HR tasks such as onboarding new employees, answering employee questions, and providing employee training.
• Virtual healthcare assistants: Artificial intelligence bots could be used to provide patients with information about their health conditions, answer their questions, and schedule appointments.
• Financial advisors: Chatbots could be used to help people manage their finances and make investment decisions.

These are some of the inventory changes we can see in the business industry across all sectors. The future of chatbots in 2024 is very promising. The powerful AI bots are rapidly gaining in capability and sophistication, and both businesses and consumers are adopting them.

Conclusion

After analyzing the statistics of chatbots, it is clear that they can offer several benefits to businesses of all sizes. The number of users of this tool is growing quickly as businesses and entrepreneurs are eager to use it. The AI bot can improve customer service, increase lead generation, reduce costs, and improve employee productivity.

By using chatbots along with online chatting and the special human touch, companies can provide fast service that makes customers happy. A good chatbot experience makes the user feel like they are interacting with a helpful and knowledgeable person.