A new study by Juniper Research expects that the conversational AI market will show substantial growth over the next five years, climbing over 250% from $2.4 billion in 2026 to $8.5 billion in service revenue by 2030. Demand is being driven by improvement and personalisation of customer experience, as well as the increasing trend towards conversational business messaging.
From chatbots to marketing, conversational AI is rapidly becoming part of everyday life, but the cost of implementation to enterprises remains difficult to predict. Lower costs and greater spend predictability will strengthen conversational AI’s value, encouraging enterprises to automate more interactions as the scale of potential savings becomes clear. “Conversational AI vendors must create subscription models tailored to enterprises, offering a range of features and usage levels to ensure higher value,” commented Peter Boyland, Principal Analyst at Juniper Research.
The report explores the technologies shaping conversational AI’s future, including agentic AI and large language models, and assesses key platforms such as voice, Rich Communication Services, and over-the-top messaging apps such as WhatsApp and WeChat, with a focus on improving cost visibility and control.
The US is the leading country in terms of conversational AI revenue in 2026, attributable to the large investment into conversational AI services in this country and the presence of vendors that are established leaders in the market. Vendors should prioritize addressing the US market first, but differentiation will be critical as the market becomes highly competitive.
A new study by Juniper Research expects that the conversational AI market will show substantial growth over the next five years, climbing over 250% from $2.4 billion in 2026 to $8.5 billion in service revenue by 2030.
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