Chatbot Statistics

Chatbot Statistics 2024: Usage, Market Revenue & Trends

Published on: August 24, 2023
Last Updated: August 24, 2023

Chatbot Statistics 2024: Usage, Market Revenue & Trends

Published on: August 24, 2023
Last Updated: August 24, 2023

A chatterbot, commonly known as a chatbot, is a program that communicates with people through chat or voice commands.

Chatbots simulate human interaction to add convenience for consumers needing assistance. They help 55% of businesses acquire quality leads.

Some examples of chatbots are Amazon’s Alexa, Apple’s Siri, and chatbots used by businesses in Messenger.

Let’s take a look at some key chatbot statistics for 2024.

Key Chatbot Statistics 2024

  • Over 300 thousand chatbots are operating on Facebook Messenger.
  • Almost 60% of people choose to talk to a chatbot instead of dealing with an agent which could take more time to get answers.
  • Data shows that nearly 70% of corporations and businesses believed that chatbots contribute to boosting their sales.
  • According to demographics data, Generation Z and Millennials are more willing to use chatbots than the older generations.
  • Only 25% of people ages 18 to 44 years old said they never used and chatted with a chatbot.
  • While 75% of people ages 45 years old and above never used a chatbot.
  • The country that recorded the most chatbot users is the United States, with 36%, followed by India with 11%, and Germany with 4%.
  • Some of the fields generating the most profit from this software are banking and financial institutions, travel agencies, real estate businesses, and the healthcare industry.

Chatbots Usage Statistics 2024

Chatbot

Many people prefer chatbots over other communication channels such as phone, email, social media, and online live chats with agents since 90% of customers want a quick response when interacting with customer service.

Chatbots are available 24/7 and can give immediate answers to queries at any time of the day.

According to Drift’s report, the chatbot was recognized as the fastest-growing brand communication tool in 2020.

The usage of chatbots increased by 92% in 2020 compared to the previous year. Almost 25% of customers used chatbots to ask questions and assistance.

Here is a breakdown of the usage of brand communication channels in 2020:

  • 24.9% of customers prefer using chatbots to connect with businesses in 2020, up by 11.9% from the prior year
  • 36.6% of customers prefer using social media to connect with businesses in 2020, up by 8.6% from the prior year
  • 45.2% of customers prefer live chats with agents to connect with businesses in 2020, up by 11.8% from the prior year
  • 50.6% of customers prefer phone or video calls to connect with businesses in 2020, down by 15.7% from the prior year
  • 66.7% of customers prefer using chatbots to connect with businesses in 2020, up by 1.6% from the prior year

Chatbot Market Revenue 2024

According to Statista’s report, the chatbot market size and revenue worldwide is expected to exceed $106 million in 2022 and is projected to grow up to $454.8 million in 2027.

Here is the estimated market revenue of the chatbot globally from 2018 to 2027:

  • The chatbot market revenue worldwide was approximately $40.9 million in 2018
  • The chatbot market revenue worldwide was approximately $51.7 million in 2019
  • The chatbot market revenue worldwide was approximately $65.5 million in 2020
  • The chatbot market revenue worldwide was approximately $83.4 million in 2021
  • The chatbot market revenue worldwide is projected to reach $106.6 million in 2022
  • The chatbot market revenue worldwide is projected to reach $137.6 million in 2023
  • The chatbot market revenue worldwide is projected to reach $179.9 million in 2024
  • The chatbot market revenue worldwide is projected to reach $239.2 million in 2025
  • The chatbot market revenue worldwide is projected to reach $325.3 million in 2026
  • The chatbot market revenue worldwide is projected to reach $454.8 million in 2027

Consumers’ Experiences of Chatbot Interaction

Some think chatbots can only greet customers, give generic information, and respond to pre-programmed queries.

Artificial intelligence chatbot technology is more than that. It is capable of dealing with complex tasks too.

A survey shows that nearly 70% of respondents like a quick reply from a chatbot however, only 10% said that chatbots understand their questions well.

Below are the positive aspects of chatbots, according to the Userlike survey:

  • 68% of people prefer chatbots since they provide quick response
  • 32% of people prefer chatbots since they provide successful assistance
  • 42% of people prefer chatbots since they provide options to talk to human agents who could better assist them
  • 33% of people prefer chatbots since they are friendly
  • 32% of people prefer chatbots since they are available 24/7
  • 10% of people prefer chatbots since they understand their questions well
  • 22% of people prefer chatbots since they are cool to use

Consumer Acceptance of Chatbots in 2024

Chatbot

Statistics show that chatbots are one of the most widely used communication channels in different industries worldwide.

The online retail industry has the highest percentage of customer acceptance of artificial intelligence chatbots, with 34%, while the government has the lowest percentage, with 10%.

Let’s take a look at the percentage of customer acceptance of artificial intelligence chatbots:

  • 34% of online retail industry customers accept artificial intelligence chatbots
  • 27% of healthcare industry customers accept artificial intelligence chatbots
  • 25% of telecommunications industry customers accept artificial intelligence chatbots
  • 20% of banking industry customers accept artificial intelligence chatbots
  • 20% of financial industry customers accept artificial intelligence chatbots
  • 15% of insurance industry customers accept artificial intelligence chatbots
  • 10% of government-industry consumers accept artificial intelligence chatbots

Conclusion

Chatbot statistics show that is it possible to replace human agents in terms of answering queries and assisting their consumers’ concerns, however, 60% of people believe that human can better understand their questions and instructions compared to chatbots.

It is also possible that chatbots will continue to improve and perform better in the future since 87.2% of its users now had positive or neutral experiences while using its services, and only 12.8% reported negative experiences.

Most of its users are from the younger generations. 40% of millennials use chatbots daily.

Sources

InvestopediaStartup BonsaiBlogging Wizard
StatistaService BellUser Like
InvespcroBacklinkoSales Force
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Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.