Conversational AI Market to Hit $23B by 2027: Juniper Research

A new study by Juniper Research, a leading expert in telecommunications markets, has forecast significant growth in the global conversational AI market. The research predicts that global revenue from conversational AI services will rise from $14.6 billion in 2025 to over $23 billion by 2027, driven by the growing adoption of agentic AI by enterprises. This technology, which allows systems to act independently to achieve goals while learning from previous interactions, is transforming customer service operations by automating tasks like service inquiries and appointment scheduling, reducing the need for human intervention.

The Global Conversational AI Market 2025-2029 report urges conversational AI vendors to integrate agentic AI into their platforms to automate customer interactions across messaging channels. Integration with business support systems where customer data is stored is essential for these solutions to effectively manage customer interactions throughout the entire journey. However, Juniper Research advises enterprises to proceed cautiously with the level of autonomy granted to agentic AI, ensuring human oversight, especially in the early stages of implementation.

Molly Gatford, Research Author at Juniper Research, stresses the importance of moderating agentic AI outputs to avoid potential issues such as hallucinations or incorrect communications, which could undermine trust in the technology. She suggests that proper management of these risks will help conversational AI vendors capitalize on the projected revenue growth in the coming years.

For more insights, the full extract from the report is available for free download.