Dydu has been the French market leader in conversational AI platforms (chatbots, callbots, voicebots) for more than 13 years. The company, based in Bordeaux and Paris, currently employs 40 people, including 20 dedicated to developing its solution. Today, Dydu is announcing the release of an infographic that provides an overview of the chatbot market in 2023. The conversational robot sector has grown in recent years on the consumer and business side, bringing new issues and challenges to tackle.
+$994M in 2023: a fast-growing global market
Bots significantly reduce companies’ operating costs and have become key business tools over the last two years. A conversational robot supports humans and helps improve the customer relationship and sales. 96% of consumers today have heard of chatbots and know what they are, and 88% of them have had at least one conversation with a chatbot in the past year.
This habit has entered users’ everyday lives, and the feedback is very positive: 62% prefer to interact with a conversational robot, whereas 38% would rather wait for human intervention. 7 out of 10 people rate their chatbot experience as positive and would recommend it.
Amidst this rising popularity, the chatbot market has grown by more than $994M compared to the previous year and is expected to reach $1.34B by 2023 and $3B by the end of the decade.
Automated tools: new consumer expectations
The increased use of conversational robots and the advent of digital tools go together. The rise in multi-channel platforms has led to more incoming requests and a significant shift in consumers’ ways of buying, who now expect support 24/7. 29% of these consumers want to be able to ask for help at any time of day or night, 24% want quick answers, and 17% want to reach a human agent when necessary. 11% of users appreciate the opportunity to solve problems by themselves, and 8% like to get personalized responses. These figures reveal how much value a bot can add to your business.
Implementing a bot can help streamline incoming requests and reduce wait times to improve your customer relationship. It’s worth noting that 91% of French people claim that the quality of the customer relationship influences their purchasing decisions. Tool automation boosts user satisfaction and improves customer support.
Chatbots and businesses: significant human and financial benefits
19% of businesses have already implemented a bot, 62% plan to do so, and 74% are satisfied with the benefits. Here are a few reasons that drive companies to launch a bot: 20% are impressed by the 24/7 support, 26% by the bot’s ability to provide faster responses to requests, 18% by the bot’s ability to generate automatic answers to recurring questions, and 11% by lead generation. The most frequently asked questions are about sales assistance, discounts, and customer service.
By the end of 2023, retail spend via chatbots is expected to reach $142B (up from $2.8B in 2019).
A chatbot market worth $543M by 2026
Younger generations are more familiar with bots. 44% of GenZ respondents believe that chatbots will make traditional customer service call centers obsolete, and 60% say that talking to an advisor can be stressful.
Automation can be used in any field; by 2023, HR chatbots will handle no less than 75% of global HR queries, more than 8 billion voice chatbots will be deployed, and by 2030, the chatbot market in the BFSI (banking, financial services, and insurance) sector will reach nearly $7B. With those sorts of profits, automation will continue to grow, and the chatbot market will reach $543M by 2026.
