Consumers in the United States gave insight into preferences and expectations they have when it comes to online customer service in 2023. In general, more than 60 percent of American consumers preferred an automated service for solving simple issues, while almost 60 percent of consumers expected a human to respond when directly contacting a company. Millennials were the generation which where most likely to prefer the automated service, as well as expecting the human interaction when contacting a company.

In Italy, the attitude of consumers towards automated or human-based customer service changed by generational cohort. When shopping online, one in two consumers of Generation Z preferred self-service tools for simple issues, while only 44 percent of baby boomers had the same opinion. However, over half of surveyed consumers expected an immediate response from a human customer care agent when contacting a company online.

In the United Kingdom, the preference for automated customer service and human interaction when contacting a company varied depending on generation in 2023. Generation Z was most likely to prefer an automated system when it comes to solving simpler issues, with a little less than 70 percent share of respondents. Millennials were most likely to expect human interaction when contacting a company online, with more than 65 percent respondent share.

German consumers gave insight into their expectations and preferences in regard to automation or human interaction in customer service in 2023. When looking at the responses by generation, Millennials were most likely to prefer the automated system in order to solve smaller issues, with almost 70 percent respondents, while also being most likely to expect a human to respond when directly contacting a company, with more than 65 percent.

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Conversational AI Market Size 2024-2028

The conversational AI market size is estimated to grow by USD 12.75 billion at a CAGR of 23.04% between 2023 and 2028. There is a notable rise in the utilization of natural language processing, machine learning, and AI technologies, driven by increasing smartphone adoption and the growing need for AI-driven customer support services. These technologies are witnessing significant growth due to their ability to enhance efficiency and accuracy in data processing, decision-making, and automation across various industries. The proliferation of smartphones has accelerated access to AI-powered applications, transforming how businesses interact with customers through intelligent virtual assistants and personalized services. Concurrently, the demand for AI-driven customer support continues to surge, fueled by the desire for responsive and efficient solutions that improve user experiences. This trend underscores a broader integration of AI technologies into everyday operations, promising advancements in communication, automation, and customer service delivery in the digital age.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is experiencing significant growth due to the integration of advanced technologies such as generative AI, computer vision, and voice recognition. These technologies enable AI-powered chatbots and virtual assistants to effectively manage customer interactions across various industries, including patient care, administrative processes, retail, and telecommunications. The scalability and efficiency advantages of conversational AI have led to its widespread adoption, debunking common misconceptions about the limitations of chatbots. Accuracy is a crucial factor in delivering optimal user experiences, making Natural Language Processing (NLP) and conversational AI essential components. Deployment mode, such as cloud, further enhance the accessibility and flexibility of these solutions. However, data privacy and security remain key concerns, necessitating robust security measures to safeguard online interactions. In summary, the Conversational AI market is poised for continued growth, driven by advancements in AI, NLP, and conversational technologies, as well as the increasing demand for personalized, efficient, and secure customer service solutions. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Growth in natural language processing (NLP), machine learning (ML), and AI technologies is notably driving market growth. Conversational AI has emerged as a game-changer in various industries, driven by advancements in Natural Language Processing (NLP), processing speed, and Machine Learning (ML) models. This technology, also known as Artificial Intelligence (AI), enables computers and AI-driven chatbots to understand and respond to human queries in a conversational manner. By replicating human thought processes through ML and neural networks, companies are enhancing online interactions and improving user experiences.

Conversely, conversational AI assists in retrieving accurate information, reducing human errors, and creating more precise analytic models. With the increasing deployment of conversational AI in both cloud and on-premise environments, data collecting devices have transformed into potent analytic tools. Customer expectations for personalized and efficient interactions continue to rise, making conversational AI an indispensable asset in industries such as automotive, where data privacy and security are paramount. Advanced AI techniques further augment the capabilities of conversational AI, enabling it to learn and adapt to user behavior, thereby creating a more human-like interaction. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

Increasing need for customer engagement is the key trend in the market. The market is experiencing significant growth due to the escalating need for AI-driven customer support services. As competition intensifies, companies are prioritizing the retention of their customer base and the acquisition of new clients. To foster customer loyalty, businesses must offer engaging and consistent interactions through conversational AI.

Furthermore, with the convenience of online interactions, user experiences are paramount, and conversational AI facilitates efficient information retrieval. Advanced AI technologies, such as chatbots, are increasingly deployed in conversational AI systems to cater to customer expectations. Deployment modes, including cloud and on-premise, offer flexibility to busines

The size of the Helpdesk Automation Market was valued at USD 4.35 Billion in 2023 and is projected to reach USD 23.94 Billion by 2032, with an expected CAGR of 27.59% during the forecast period. The helpdesk automation market is experiencing significant growth, driven by the increasing demand for efficient customer support solutions across industries. Businesses are adopting automation technologies to streamline repetitive tasks, reduce response times, and enhance customer satisfaction. Key factors contributing to this growth include advancements in artificial intelligence, natural language processing, and machine learning, enabling intelligent ticketing systems, chatbots, and virtual assistants. These solutions not only improve operational efficiency but also offer scalability to meet growing customer demands. Organizations in sectors such as IT, healthcare, retail, and banking are leveraging helpdesk automation to address complex queries and provide personalized assistance. Furthermore, the rise of remote work and digital transformation initiatives has accelerated the adoption of automated support systems. Companies are increasingly focusing on integrating helpdesk automation with customer relationship management (CRM) platforms to ensure seamless operations. The market is also witnessing innovation in self-service portals, empowering users to resolve issues independently. As businesses continue to prioritize customer experience, the helpdesk automation market is poised for sustained growth, with a focus on delivering cost-effective, responsive, and scalable solutions. Recent developments include: April 2023: The BMC Helix Control-M platform, the Control-M solution, the BMC AMI offerings, and the BMC Helix Operations Management platform are among the solutions that BMC, a world leader in software solutions for the Autonomous Digital Enterprise, announced. These solutions enable enterprise customers to use AI to gain deeper insights from their data and accelerate innovation across complex hybrid IT environments., August 2020: Hiver entered the helpdesk software market. The first customer care solution to operating off of G-Suite and provide helpdesk services alongside Gmail was Hiver's solutions.. Key drivers for this market are: Rising IT complexity and support volume Need for improved customer support experience Growing adoption of artificial intelligence and machine learning Increased focus on cost optimization and productivity Government regulations and compliance requirements. Potential restraints include: Implementation costs and complexity Lack of skilled workforce and resistance to change Data security and privacy concerns Integration with legacy systems and data fragmentation. Notable trends are: Integration of self-service portals and knowledge bases Adoption of voice-based support and conversational AI Predictive analytics and proactive issue resolution Remote work and distributed IT support Focus on customer engagement and personalization.

Introduction

Robotic Process Automation Statistics: RPA is a transformative technology that leverages robot software to automate rule-based tasks within digital systems. It operates by identifying repetitive tasks and developing software bots to execute them.

Seamlessly integrating these bots with existing software applications. RPA offers numerous benefits, including cost efficiency, accuracy, scalability, and enhanced productivity.

Its adoption is on the rise across industries, with the global RPA market poised for significant growth. This technology has the potential to revolutionize business operations.

By reducing costs, improving efficiency, and allowing human employees to focus on more strategic activities. Ultimately enhancing overall productivity and competitiveness.

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Retail Automation Market Size 2024-2028

The retail automation market size is forecast to increase by USD 11.96 billion at a CAGR of 10.87% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The high adoption of contactless payment solutions is driving market expansion, as consumers increasingly prefer contactless transactions for convenience and safety. Another trend is the emergence of big data management, which enables retailers to analyze customer behavior and preferences, optimize inventory, and improve operational efficiency. However, privacy and security concerns associated with the collection and use of customer data are challenges that need to be addressed to ensure consumer trust and compliance with regulations. Retailers must prioritize data security measures and implement transparent data handling practices to mitigate these concerns and maintain customer trust.

What will be the Size of the Retail Automation Market During the Forecast Period?

Request Free SampleThe market is experiencing significant growth as logistics technology continues to revolutionize the industry. Smart warehousing and automated warehouse systems are increasingly being adopted to optimize inventory, improve order fulfillment, and enhance customer satisfaction. Data-driven decision making is at the forefront of this transformation, with consumer data being leveraged to map the customer journey and tailor offerings. Innovations in areas such as predictive analytics, robotics process automation (RPA), and artificial intelligence (AI) are driving efficiency and accuracy in inventory management and last-mile delivery. E-commerce growth is a key factor in this market's expansion, with providers offering warehouse management software and omnichannel strategy solutions to help small businesses and brick-and-mortar retailers adapt to the digital age.The future of retail automation is bright, with e-commerce, manufacturing, healthcare, and even grocery stores and restaurants embracing these technologies to streamline operations and enhance the customer experience. Industry conferences, ebooks, blog posts, and consulting resources offer valuable insights into the latest trends and best practices for retailers looking to maximize their ROI.

How is this Retail Automation Industry segmented and which is the largest segment?

The retail automation industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. TypePoint-of-saleBarcode and RFIDCameraOthersEnd-userSupermarketsHypermarketsSingle item storesFuel stationsRetail pharmaciesGeographyAPACChinaJapanNorth AmericaUSEuropeGermanyUKMiddle East and AfricaSouth America

By Type Insights

The point-of-sale segment is estimated to witness significant growth during the forecast period. Point-of-Sale (POS) automation systems streamline retail transactions by combining hardware and software for efficient sales management. These systems offer significant advantages over traditional cash registers, enabling the storage, sharing, and tracking of sales, payment, and customer data. POS automation enhances operational workflows, ensuring transparency and organizational efficiency. It also delivers a superior shopping experience, aligning with evolving consumer preferences for personalized and convenient services. Technological advancements, such as chatbots, AI business intelligence, and automated inventory management, further enhance POS capabilities. Additionally, POS systems facilitate seamless online transactions, inventory management, and fulfillment chains, including warehouse robotics and automated conveyor systems. Economic growth and increasing individual spending capacities further fuel the adoption of these systems, which incorporate cognitive technology, inventory-scanning systems, and self-checkout systems.Cloud-based POS and warehouse storage solutions provide flexibility and scalability, while automated inventory management and operational workflows ensure transparency and accuracy.

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The Point-of-sale segment was valued at USD 3.66 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market In the Asia Pacific region is projected to expand significantly due to the increasing adoption of automation solutions in various sectors, including e-c

The Data Center Automation Software And Services Market is projected to grow at 19.8% CAGR, reaching $39.47 Billion by 2029. Where is the industry heading next? Get the sample report now!

United States Customer Technical Support Services Market size was valued at USD 9.24 Billion in 2024 and is expected to reach USD 18.18 Billion by 2032, growing at a CAGR of 8.82% from 2025 to 2032.

The U.S. Customer Technical Support Services market is driven by the increasing adoption of digital technologies, AI-powered automation, and cloud-based support solutions. Businesses are prioritizing seamless customer experiences, leading to higher investments in omnichannel support, self-service portals, and chatbots. The rise of remote work and e-commerce has further fueled demand for scalable, 24/7 tech support services.

Growing customer expectations for instant issue resolution and personalized support are pushing companies to enhance service quality. Additionally, stringent data security regulations and compliance requirements are shaping market dynamics, prompting firms to integrate secure and AI-driven support systems to maintain customer trust and operational efficiency.

The process automation instrumentation market of the world is estimated at USD 4.2 billion by 2033, with a CAGR of 5.7% in the forecast period. The efficiency, accuracy, and safety factors are driving the demand for automation in manufacturing industries; this will lead to the growth of the market. Smart sensors, data analytics, and IIoT solutions adoption will also contribute further to the growth in the market. This market can be segmented into the big markets of instrumentation, which have subcategories of field instruments, control valves, and analyzers. Solution includes APC, DCS, HMI, MES, PLC, safety automation & SCADA, and industries with chemicals to energy & power, food & beverages. Regions include North America, Europe, Asia Pacific, Middle East & Africa, and South America. Some of the major market players are ABB Ltd., General Electric Co., Mitsubishi Electric Corporation, Rockwell Automation Inc., Emerson Electric Co., Siemens AG, Yokogawa Electric Corporation, Metso Corporation, and Schneider Electric SE. The market growth has great potential in the immediate future because further increases in emphasis on digital transformation and raises pressure for the improvement of operational efficiency in process industries. Recent developments include: July 2023: The main ICT service provider in Pakistan, Pakistan Telecommunication Company Limited (PTCL, has announced the use of RPA (robotic process automation) in the customer care operations like a critical component of its digital transformation plan. The objective is to enhance the entire consumer experience at each touchpoint. By thoroughly aligning PTCL with the highest international standards in digitization and automation, the project will strengthen its position as the market leader. Ahmad Kamal, Group Chief Customer Care Officer at PTCL & Ufone 4G, offered the following statement on the initiative: they are pleased to announce the execution of Robotic Process Automation, a critical milestone in their ongoing efforts to improve the customer journey. By automating a variety of tasks, this cutting-edge technology enables us to provide the finest client experience., July 2023: An industry leader in advanced business process automation solutions, Bautomate is pleased to announce the release of its ground-breaking platform, which is expected to revolutionize the way organizations run and address workflow issues for improved productivity, efficiency, and profitability. The day of labor-intensive, error-prone, and ineffective manual processes is over. Bautomate provides cognitive automation solutions made to automate repetitive operations, remove bottlenecks, and enable smooth workflows in response to these difficulties. It offers a revolutionary way to enable companies of all sizes and in all sectors to attain previously unheard-of levels of efficiency and success., June 2023- Fuji Electric India, with a wide range of innovative products and solutions, serves several industries and applications. The organization's knowledge bridges power backup and conditioning solutions, industrial automation, power electronics, and instrumentation. Its allegiance to quality, customer satisfaction, and reliability has received the trust of over 500 customers with installations of 1 MW and above. It is the vision for the future that concentrates on sustainable development, technological advancements, and energy efficiency. Fuji Electric India, a subsidiary of Fuji Electric Co, has found a robust presence in the Indian market, providing a broad variety of innovative products and solutions in the energy sector. With the company's 100 years of expertise and extensive product range, the professionals at Fuji Electric India are well-positioned to deal with the emerging energy requirements of the Indian market. They are committed to offering innovative, reliable, and sustainable solutions to contribute to the growth and development of India. The firm is famous for producing a wide range of protective energy products. Fuji Electric India's power backup and power conditioning solutions are intended to improve and protect equipment and power reliability and optimize energy usage. Their knowledge of power electronics and energy solutions guarantees the delivery of high-quality and efficient products, fulfilling the diverse requirements of our customers., October 2023- SICK, a German sensor company, and Endress+Hauser, the Swiss measurement and automation technology specialist, are planning a deliberate collaboration for SICK's process automation business segment and have contracted a joint memorandum of understanding. By uniting their strengths, the organizations want to offer even better support for their customers in vital areas such as energy and resource efficiency, as well as protection of the climate and environment., May 2023: For the third year in a row, Everest Group's PEAK Matrix for the Intelligent Process Automation Solutions has named Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) as a Leader[1]. The research emphasized TCS' transformation strategy and broad variety of solutions that make use of its integrated operations, Machine FirstTM Delivery Model (MFDMTM), and partner ecosystem. TCS CognixTM, a human-machine AI-driven collaboration suite, is emphasized as a major strength since it uses a variety of technologies for assisting businesses in achieving their targeted business goals., August 2022: At their Rajahmundry mill's lime kiln, Andhra Paper Limited (APL), a well-known integrated pulp and paper company in India, installed an ABB advanced process control (APC) solution. ABB implemented its OPT800 Lime APC solution into APL's current ABB Ability System 800xA distributed control system to assist the business in reducing its energy demand (DCS)., January 2022: For the first-ever field test of an Open Process Automation system created to run a complete production facility, ExxonMobil chose Yokogawa Electric Corporation as the system integrator. The field trial, according to the company, will take place at a manufacturing facility for ExxonMobil on the Gulf Coast of the United States, replacing the current distributed control system (DCS) and programmable logic controllers (PLC) with a single, integrated system that complies with the Open Process Automation Standard (O-PAS).. Key drivers for this market are: Increasing demand for automation solutions in the chemical, energy, and food & beverage industries Advancements in sensor technology, data analytics, and industrial connectivity Growing adoption of cloud-based and SaaS automation solutions Increasing focus on cybersecurity and data privacy. Potential restraints include: High cost of implementation and maintenance Lack of skilled workforce Concerns about cybersecurity and data privacy. Notable trends are: Increasing demand for automation solutions in the chemical, energy, and food & beverage industries Advancements in sensor technology, data analytics, and industrial connectivity Growing adoption of cloud-based and software-as-a-service (SaaS) automation solutions Increasing focus on cybersecurity and data privacy Emergence of new applications and use cases for process automation instrumentation.

The AI in Call Centers market offers a range of products and services that enhance call center operations. These include:Speech Recognition: Natural Language Processing (NLP) and Speech-to-Text (STT) solutions enable call centers to automate transcription, eliminate manual data entry, and improve efficiency.Chatbots & Virtual Assistants: Text-based and voice-based chatbots provide 24/7 customer support, handle routine inquiries, and offer personalized experiences.Robotic Process Automation (RPA): AI-powered bots automate repetitive tasks such as data extraction, order fulfillment, and account updates, freeing up human agents for more complex tasks.Predictive Analytics: AI algorithms analyze historical data to predict customer behavior, identify trends, and recommend optimal actions.Sentiment Analysis: AI tools detect customer emotions through voice or text, enabling call centers to respond with empathy and resolve issues effectively. Recent developments include: July 2022: The AI platform was launched by Laivly, a pioneer in AI and automation for contact centers. Laivly transforms real-time intelligence into real-time action that generates higher contact center productivity, boosts ROI, and provides a better customer experience. It is designed to swiftly and easily upgrade call centers at scale. On each agent's desktop, Laivly adds automation to help them complete jobs quickly, and the built-in AI shows the team the workflows of the most productive agents. The end result is a contact center that is quicker, wiser, more accurate, and more effective, allowing human agents to spend more time providing excellent customer experiences and less time battling technology., March 2022: In order to provide an out-of-the-box, complete solution for the contact center, Google launched the Cloud Contact Center AI Platform. It brings together sales, marketing, and support teams around data from the customer journey. It does this by combining the benefits of artificial intelligence (AI), cloud scalability, multi-experience capabilities, and close interaction with customer relationship management (CRM) platforms.. Key drivers for this market are: Increasing Usage of AI by Organizations in Pursuit of Enhanced Customer Support Service Offerings, Increasing Role of Social Media for Customer Engagement; The Exponential Growth of Data. Potential restraints include: Lack of Skilled Labor, Unsupervised Learning. Notable trends are: BFSI Vertical is Expected to Hold the Largest Market Size During Forecast Period.

The Workflow Automation Industry is Segmented By Solution (Software and Services), By End-user Industry (Banking, Telecom, Retail, Manufacturing and Logistics, Healthcare and Pharmaceuticals, Energy and Utilities, and Other End-user Industries), By Deployment (Cloud and On-premise), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Contact Center Knowledge Base Software Market size was valued at USD 34.91 Billion in 2023 and is projected to reach USD 144.52 Billion by 2030, growing at a CAGR of 24% during the forecast period 2024-2030.

Global Contact Center Knowledge Base Software Market Drivers

The market drivers for the Contact Center Knowledge Base Software Market can be influenced by various factors. These may include:

Growing Need for Customer Service Excellence: Contact centers are becoming more and more dependent on reliable knowledge base software as they work to enhance customer satisfaction and service. These resources support agents in giving clients fast and accurate information.

Growing Uptake of Solutions Based in the Cloud: The need for knowledge base software is being driven by the move to cloud-based contact center solutions. Because they are affordable, flexible, and scalable, cloud-based solutions appeal to companies of all kinds.

Put Your Attention on Increasing Agent Productivity: Knowledge base software facilitates agents’ rapid access to pertinent knowledge, which boosts their output and effectiveness. Companies are realizing more and more how beneficial these tools are for maximizing agent effectiveness.

Increasing Complexity of Customer Inquiries: To properly handle and address the growing complexity of customer inquiries, businesses require sophisticated solutions. Information can be categorized and organized using knowledge base software to make it easier to find and retrieve.

Integration with Automation Technologies: One of the main factors propelling the Contact Center Knowledge Base Software Market is integration with automation technologies and artificial intelligence (AI). By enhancing the capabilities of knowledge base software, these technologies allow for more effective and tailored client interactions.

Regulation Compliance Requirements: Knowledge base software with strong data security and privacy capabilities is becoming more and more popular as a result of regulations like the CCPA and GDPR. To avoid fines, businesses must make sure that the knowledge base software they use conforms with these rules.

Data-Driven Insights: As companies look to understand consumer behavior and preferences, knowledge base software with analytics and reporting features is in high demand. These insights aid companies in refining their goods and services as well as elevating the general clientele experience.

The size of the Automation-as-a-Service market was valued at USD XXX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 27.75% during the forecast period.Automation as a service is also well known as AaaS, meaning the provisioning of automation tools and technologies through a delivery model based on cloud architecture. This delivers businesses an opportunity to automate everyday chores while improving process orientation through a lean infrastructure and fewer investments in IT expertise.It would be a multiple option capability in terms of the automation of tasks like data entry, report generation, customer service interaction, and financial reconciliation that business process automation, workflow automation, and RPA would bring within an AaaS platform. For business operations using the AaaS service, cost will be reduced, accuracy will be enhanced, and customer satisfaction will be increased.It has easier scalability for organizations in that it can easily add or remove services as the need changes. As more and more organizations look to automation, AaaS is rapidly emerging as a strong enabler for digital transformation and business excellence. Recent developments include: November 2023: Walter Surface Technologies partnered with a network of North American system integrators and tool manufacturers focused on robotic systems and material removal. The partnerships with PushCorp, ATI Automation, and Effecto will help Walter provide comprehensive automation solutions to industrial manufacturers, from planning to installation and optimization., September 2023: Automation Anywhere enhanced its platform by introducing a new ‘Responsible AI Layer’ and integrating features from its generative AI product range. The ‘Responsible AI Layer’ offers custom automation models developed using Large Language Models (LLMs) like OpenAI, Google’s Palm, Microsoft’s Azure AI, and Amazon’s Bedrock. This blend of generative AI and intelligent automation is a technology shift that promises to boost productivity, foster creativity, and accelerate business growth., August 2022: Truist Corporation has expanded its digital investment offerings with Truist Invest, a Robo advisor, and Truist Invest Pro, a hybrid investing solution by automatic making plans and an objective environment as well as a choice for advisor-driven recommendations to businesses related to finance, Healthcare, Sports, etc., March 2022: GreyOrange, a provider of warehouse automation, provided robotic fulfillment systems that H&M used. H&M made this choice in light of previous instances when GreyOrange's warehouse automation technology was successfully implemented at other companies, leading to continuously better performance and higher efficiencies. H&M uses grey-orange robots in its warehouses to complete various tasks.. Key drivers for this market are: Increased Demand for Automation Across Business Processes, Increasing Adoption of Cloud Services. Potential restraints include: Concerns Regarding Data Security and Privacy. Notable trends are: BFSI is Expected Hold Major Share.

In the Nordics, which refers to Sweden, Finland, Norway, and Denmark, the preference of automation or human interaction when it comes to customer service varied depending on the generation. The consumers which preferred an automated system for simpler issues the most were Millennials, with more than 65 percent respondent share. Millennials were also most likely to expect a person to respond when directly contacting a company, with 70 percent respondent share.

Cognitive Services Market size was valued at USD 17.24 Billion in 2024 and is projected to reach USD 188.08 Billion by 2031, growing at a CAGR of 38.40% from 2024 to 2031.

Cognitive Services Market Drivers

Growing Demand for Data Insights and Automation:

Extracting Value from Data: Businesses are accumulating vast amounts of data from various sources. Cognitive services offer tools like computer vision, natural language processing (NLP), and speech recognition to extract valuable insights and automate tasks from this data.

Improved Decision-Making: By leveraging cognitive services for data analysis, businesses can gain deeper customer understanding, optimize operations, and make data-driven decisions to achieve their goals.

Automating Repetitive Tasks: Cognitive services can automate tasks like image and video analysis, text summarization, and sentiment analysis, freeing up human resources to focus on higher-level activities.

Enhanced Customer Experience:

Personalization and Engagement: Cognitive services enable businesses to personalize customer experiences through chatbots, recommendation engines, and sentiment analysis, leading to higher customer satisfaction and engagement.

Improved Customer Support: Chatbots powered by cognitive services can provide 24/7 customer support, answer basic inquiries, and resolve simple issues, enhancing overall customer service efficiency.

Advancements in Artificial Intelligence and Machine Learning:

Improved Accuracy and Performance: Constant advancements in AI and machine learning are leading to cognitive services with higher accuracy, reliability, and broader functionalities.

Accessibility and Cloud-Based Solutions: The availability of cloud-based cognitive services makes these powerful tools more accessible to businesses of all sizes, regardless of their internal IT infrastructure.

ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. The company also provides information technology (IT) service management applications; IT service management product suite for enterprise's employees, customers, and partners; IT business management product suite; IT operations management product that connects a customer's physical and cloud-based IT infrastructure; IT Asset Management to automate IT asset lifecycles; and security operations that connects with internal and third party. In addition, it offers governance, risk, and compliance product to manage risk and resilience; human resources, legal, and workplace service delivery products; safe workplace applications; customer service management product; and field service management applications. Further, it provides App Engine product; IntegrationHub enables application to extend workflows; and professional, industry solutions, and customer support services. It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products through direct sales team and resale partners. It has a strategic partnership with Celonis to help customers identify and prioritize processes that are suitable for automation. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in 2004 and is headquartered in Santa Clara, California.

Cognitive Automation Market size was valued at USD 16.13 Billion in 2024 and is projected to reach USD 39.32 Billion by 2031, growing at a CAGR of 13.00% during the forecast period 2024-2031.

Global Cognitive Automation Market Drivers

The market drivers for the Cognitive Automation Market can be influenced by various factors. These may include:

Demand for automation is rising as more companies use it to cut expenses, increase productivity, and minimize errors. Compared to conventional automation systems, cognitive automation, which blends artificial intelligence (AI) with cognitive computing, offers enhanced capabilities.

Quick developments in artificial intelligence and machine learning: As these fields continue to grow, cognitive automation systems are becoming more capable. These developments provide systems the ability to learn from data, spot patterns, and come to their own conclusions without the need for human input.

Increasing demand for intelligent business processes: Companies are looking for ways to improve the intelligence and adaptability of their business procedures. Automating complicated activities, evaluating unstructured data, and offering insights to enhance decision-making are all possible with cognitive automation.

Concentrate on enhancing the customer experience: By offering prompt, individualized answers to consumer inquiries, cognitive automation can assist companies in improving the customer experience. Increased client happiness and loyalty may result from this.

Cost reduction and operational efficiency: Cognitive automation can assist businesses in cutting costs and enhancing operational efficiency by automating monotonous and repetitive processes. Employee concentration can now be directed toward more strategic and valuable tasks.

Requirements for regulatory compliance: As regulations become more stringent across a range of businesses, cognitive automation is becoming more widely used. Through the automation of data processing, reporting, and auditing duties, these technologies can assist enterprises in maintaining compliance.

The accessibility of cloud-based cognitive automation systems: The adoption of these technologies by enterprises has been facilitated by the availability of these solutions. Because they are affordable, flexible, and scalable, cloud-based solutions appeal to companies of all kinds.