Observed Signal · Jul 7, 2025 · Market Analysis · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
Conversational AI Market to Hit $50B by 2031, Yet Most Brands Struggle
The global conversational AI market is projected to grow from $17.05B in 2025 to $49.8B by 2031, a 192% increase, according to a Research and Markets report. However, a new Infobip/Harvard Business Review Analytic Services study reveals that while 93% of CX leaders acknowledge the importance of positive conversational experiences, only 36% believe their organization delivers them effectively, and just 11% use AI to create human-like conversations. An arXiv study of contact center agents shows that AI tools like real-time transcription and auto-summaries often add friction, with inaccuracies and rework. The article profiles six enterprise-grade vendors - Cognigy, IntelePeer, SESTEK, Teneo, UJET, and Verint Systems - and emphasizes that agent adoption, seamless orchestration, and integration with existing systems are key differentiators. The piece underscores a gap between AI hype and operational reality in call centers.
Conversational AI market growth report and agent perception study highlight adoption challenges and vendor evaluation criteria, relevant for CX technology providers and enterprises investing in AI-driven service automation.
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Key Takeaways & Evidence Grounding
- Global conversational AI market expected to grow from $17.05B in 2025 to $49.8B by 2031 (192% growth, 24.7% CAGR).
- Only 11% of companies report being highly effective at using AI to deliver human-like conversations.
- Infobip released a study by Harvard Business Review Analytic Services revealing 93% recognize CX importance but only 36% are highly effective.
- arXiv study found agents often view AI transcription and summaries as adding extra work, with emotion detection widely ignored.
- Research and Markets report profiles 6 vendors: Cognigy, IntelePeer, SESTEK, Teneo, UJET, Verint Systems across 170+ criteria.
Connected Companies & Entities
11 Entities mapped“cloud communications platform provider Infobip released findings from a new study conducted by Harvard Business Review Analytic Services...”
“Cognigy is one of six enterprise-grade vendors profiled in the Research and Markets report...”
“Verint Systems is one of six enterprise-grade vendors profiled in the Research and Markets report...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
“The report also mentions many other vendors offering conversational AI, such as NiCE, LivePerson, Uniphore, Parloa, Talkdesk, Five9, Genesys...”
Ontology Mapping & Concepts
Related Market Signals & Shifts
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