In this post, we discuss Chatbot Statistics 2023
The way businesses connect with their consumers has changed dramatically thanks to chatbots. Chatbots add a new and fascinating dimension to services, goods, and websites, as well as speed up a variety of operational operations.
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The following data about the chatbot industry will demonstrate the global transformation currently underway. This post will give you all of the information you require to validate your chatbot strategy.
Statistics and Trends In Chatbots
- Chatbots are the quickest brand communication medium, with a 92 percent rise in market size over the last two years. Nearly a quarter of buyers used chatbots to communicate with businesses in 2020, up 13% from the past year.
- In the preceding 12 months, 67 percent of consumers throughout the world interacted with a chatbot.
- There are greater than 300,000 operational chatbots on Facebook, which is a threefold rise from the preceding year and perfectly exemplifies the chatbot phenomenon that has been gaining traction in recent years.
- 68.9% of talks are handled from beginning to end.
- A chatbot system can respond to up to 80% of all common simple inquiries. Chatbots are used by 1.4 billion individuals.
- Conversational AI handled nearly one in every six global customer support conversations this year (artificial intelligence).
- 27 percent of customers couldn’t tell if their last customer service interaction was with a real person or a chatbot.
- When Facebook debuted its messaging service, it quickly became the most popular chatbot platform.
- Conversational marketing tools are used by more than 40% of consumers to make purchases, making them an ideal addition to your sales team.
Statistics on Chatbot Use and Engagement
- Consumers have a neutral or favorable experience with chatbots, according to 87.2 percent of respondents.
- Only 12.8 percent of respondents said they had a bad client experience.
- Consumers utilize chatbots for a variety of reasons, the most common of which would be to get a speedy response.
- When making a purchase, 41.3 percent of consumers use conversational marketing methods.
- One-third of customers want to make reservations using a chatbot.
- Bot-only chats have an average customer satisfaction percentage of 87.58 percent, which is 2 percent greater than the rate for conversations that are transferred to human agents.
- The United States has the most chatbot consumers (36 percent), followed by India (11%), and Germany (4 percent ).
- C-level executives make up 41% of those who initiate online chat, chats with organizations.
- Customers are presently keen on artificial intelligence (AI) assistance tools at a rate of 27%.
- In an emergency, 37% of individuals use a customer support bot to get a speedy response.
- Millennials are less inclined than baby boomers to foresee benefits from chatbots.
- Almost half of the female buyers prefer to communicate with chatbots when making online purchases, however, only 36.81 percent of men do so.
- One out of every five live chats goes unanswered.
- Millennials use social media applications at a higher rate than any other generation, and 3 out of 5 have used chatbots at least once.
Statistics on Chatbot Adoption
- Chatbots are used by 58 percent of B2B enterprises, but only 42 percent of B2C websites use them.
- Chatbots are used by 39% of firms to create their websites more engaging. SaaS companies account for 65.1 percent of enterprises that have implemented chatbots. Consumers want to see more businesses use chatbots, according to 35% of respondents.
- Chatbots are being used by 24 percent of enterprises, 15 percent of mid-sized firms, and 16 percent of small businesses.
- In the last year, 60 percent of people have interacted with a chatbot.
- By 2022, we may be conversing with bots more than we do with human partners. Within the next 18 months, 53% of service firms aim to deploy chatbots, representing a 136 percent increase.
- Chatbots are thought to be causing disruption in 56 percent of firms.
Statistics on Chatbot Conversions
- Chatbots have a response rate of 35-40% on average.
- With more engaged customers, the finest bot experiences can drive up to 90% response rates.
- Depending on the sector, chatbot technology can enhance website conversion rates by anywhere between 10% and 100%.
- Ecommerce stores that used the social media Facebook Messenger chatbot in combination with an abandoned cart chatbox saw a 7 to 25% increase in sales.
- Virtual assistant recommendations are trusted by nearly a quarter of respondents over human salespeople for product purchases.
- Better bot experiences combined with more connected audiences result in response rates of 80-90 percent.
- Chatbots, according to business leaders, have boosted revenues by 67 percent on average.
- According to 57 percent of firms, chatbots provide a huge return on investment for a small expenditure.
Statistics on Chatbot Benefits
- The response time of chatbots is faster than that of people.
- Consumers enjoy chatbots because they deliver quick responses, according to 68 percent of respondents.
- Consumers also prefer the notion that a chatbot may assist them outside of office hours and refer them to a live human.
- The most important feature of a chatbot, according to users, is the availability of service 24 hours a day, seven days a week.
- Chatbots have been shown to reduce operational customer support expenses by up to 30%.
Challenging Facts Regarding Chatbot
- Consumers’ top concerns about chatbots are a lack of knowledge & an inability to tackle complex problems.
- Almost half of the customers believe chatbots obstruct their ability to communicate with a live person.
- 60% of customers appreciate the fact that chatbots can’t grasp their demands, as well as humans, can.
- Sixty percent of customers would rather wait and speak with a human than use a chatbot.
Data on Chatbot Business and Marketing
- 55 percent of firms utilize chatbots to create higher-quality leads.
- Chatbots, according to business leaders, have boosted revenues by 67 percent.
- Pre-built AI systems, such as virtual agents and chatbots, are used by 40% of firms in the United States, the European Union, and China.
- Sales (41%), customer service (37%), and marketing are the most prevalent uses for chatbots (17 percent ).
- Voice-to-text dictation (46 percent) and task collaboration (26 percent) are two of the most common AI chatbot uses.
- Chatbots, according to 64% of organizations, will enable them to create a more personalized client experience.
- Voice assistants are expected to be more expensive than smartphone apps, according to 50% of enterprises.
- Chatbots are used more frequently by businesses with less than fifty employees.
Business Statistics and Chatbot Marketing
Statistics about Chatbot Messaging Apps
- Every month, about 5 billion people use messaging apps.
- Chatbots are popular with 1.4 billion individuals who use messaging apps. Blue-Bot sent over 500,000 clients over two million messages in 2018.
- On Facebook Messenger alone, there are over 300,000 chatbots.
- Ten out of every eleven minutes spent on a mobile device is spent using apps.
- Retargeting ads have a 30 percent lower ROI than conversations among customers and brands via Messenger.
Statistics on Consumer Preferences
- At least once, 3 out of 5 millennials have utilized a chatbot.
- Users of chatbots make purchases in 47% of cases.
- When making appointments and ordering online, 33 percent of web users prefer conversational chatbots.
- More than 50 % of customers would rather use chatbots than call customer service.
- Microsoft Cortana (49 percent), Apple Siri (47 percent), and Google Assistant (47 percent) are the top three AI chatbots for business (23 percent ).
- Consumers are 53% more inclined to purchase if they can contact the company.
- People would choose a chatbot that could solve their problems over one with a personality, according to 48% of respondents.
Statistics for a Specific Industry
Real estate (28 percent), tourism (16 percent), education (14 percent), healthcare (10 percent), and finance (five percent) are the top five businesses that gain the most from chatbots.
The most profitable area for chatbots is real estate.
- Chatbots are expected to handle 75-90 percent of banking & healthcare consumer queries by 2022, according to projections.
- By 2023, economic benefits from banking chatbots will total $7.3 billion worldwide.
- Since the outbreak of the worldwide epidemic, two-thirds of the world’s largest financial services companies have begun to use chatbots in their apps.
- A chatbot would be beneficial (40 percent) or extremely useful (26 percent) in managing their company and work travel arrangements, according to two-thirds of those polled.
- When it comes to arranging travel plans or evaluating booking choices, 37% of consumers would prefer to work with a chatbot.
- 87 percent of people would opt to connect with a travel chatbot if it could conserve them time and money.
- In the 2 and a half months since its inception, GRT Hotels & Resorts’ chatbot has exchanged over 175,000 messages.
- Over 1/3 of retail consumers would prefer to communicate with customer support via AI chatbot instead of live chat.
- By 2023, retail chatbots will account for more than 70% of all chatbot conversations. According to a poll conducted in 2019, more than 40 percent of US customers were using chatbots to interact with retailers.
- Clothing is the most popular commodity offered online using chatbots.
- Clothing is sold by 22 percent of the most profitable online stores, trailed by health products (9 percent), furniture (9 percent), electronics (8 percent), & jewelry (8 percent ).
- By the end of the year 2022, it’s expected that 35% of companies would employ chatbots for a significant portion of the hiring process.
- XOR, a chatbot vendor for recruiting, claims that their chatbot solution accelerates the hiring process by 33 percent, screens 85 percent more applications with similar budgets, and costs 50% less each hire.
- 58 percent of candidates were eager to communicate with AI & recruitment chatbots throughout the early phases of the application process, according to an Allegis poll.
Statistics on Chatbots for Customer Service
- You can increase your eCommerce sales by up to 25% by using abandoned cart chatbots in conjunction with Messenger.
- By adopting chatbots, you may expect to save 30 percent on customer support expenditures.
- Customer service firms are expected to grow at a rate of 136 percent in 2019.
- Chatbots have modified 58 percent of consumers’ expectations for customer service.
- Sixty-four percent of customer service representatives who utilize chatbots believe they get more time to tackle more complex and difficult issues.
- When it comes to shopping, 16 percent of Americans have used Google Home or Alexa chatbots.
Statistics on the use of chatbots
- AI chatbots are used by 53% of firms in their IT departments, but only 23% utilize them for administrative duties.
- In 1966, the first computerized chatbot, ELIZA, was built.
- The United States, India, Germany, the United Kingdom, and Brazil are the top 5 nations in regards of chatbot usage.
- Chatbots were estimated to be used by over 25% of the world’s population by the end of 2019.
- Chatbots will be worth $5 billion by the end of 2021.
- The popularity of chatbots grew by 160 percent in 2018.
- Conversational artificial intelligence & machine learning applications are two areas of concentration for software, which accounts for roughly 40 percent of all cognitive AI spending.
Statistics on Chatbot Development
- Consumer retail spending via speech bots is expected to reach $142 billion by 2024, increasing from 2.8 billion dollars in 2019.
- By the end of 2021, over half of businesses expect to use chatbots for customer service.
- Chatbots have been deployed by 2/3rd of financial service firms to their applications.
- With nearly 16,000 websites including a chatbot, the United States leads the world.
- By 2027, the market for healthcare chatbots is expected to reach $340 million.
- By 2022, it is expected that 80% of enterprises would have implemented some type of conversational bot system.
- The goal is for social media to take over AI integration.
Insights on Chatbot Forecasts & Predictions
- Chatbot eCommerce transactions are expected to reach $112 billion by 2023, according to projections.
- Chatbots are expected to save $8 billion by 2022, according to projections. By 2023, chatbots are expected to save organizations 2.5 billion hours.
- Chatbots will reduce the cost per customer engagement by $0.70 by 2022.
- By 2024, the global chatbot industry is expected to reach $994 million.
- Chatbots are expected to be around for a long time, according to 96 percent of organizations.
- Email marketing may be replaced by chatbots.
- By the end of 2021, 85 percent of buyer interactions might be conducted without the use of a human agent.
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Conclusion: Chatbot Statistics 2023
Consumers may interact with brands more interactively and easily with chatbots. Chatbots appear to be the digital communication method of the future. The chatbot market is expected to grow globally, with millennials driving user polls.
Chatbots will assist you and your team in growing and maintaining current relationships. Chatbots can help you provide quick customer support, conserve time on repetitive activities, and increase lead generation.
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