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One of the main advantages of chatbots is that they can provide 24/7 customer support. This is extremely valuable for businesses that want to offer excellent customer service but may not be able to afford to have staff available around the clock.

Chatbots can also help to reduce cart abandonment. If a customer has questions about a product or is having difficulty completing their purchase, a chatbot can provide the assistance they need in order to complete the sale.

In addition, chatbots can help businesses to upsell and cross-sell products. For example, if a customer is buying a pair of shoes, a chatbot could suggest adding a matching handbag to their purchase.

Overall, chatbots are an extremely useful tool for businesses looking to improve customer service and reduce costs.

Key Chatbot Statistics and Trends

The chatbot market has grown by 92% in the last two years, making it the fastest-growing channel for communicating with brands.
Chatbots will be used by nearly one-quarter of consumers in 2020, an increase of 13 percent from the previous year.
More than two-thirds of people have used a chatbot in the last year.
Facebook has more than 300,000 active chatbots, a three-fold increase from the previous year, which perfectly illustrates the chatbot trend that has been gaining momentum over the past few years.
68.9% of all chats are attended to from beginning to end.
80 percent of all standard simple questions can be answered by a chatbot platform. Chatbots are used by 1.4 billion people.
Conversational AI was used to handle nearly one-sixth of all customer service interactions worldwide in 2018. (Artificial Intelligence).
In the last customer support interaction, 27% of customers were unsure if they were dealing with a chatbot or a real person.
Facebook’s messaging platform quickly rose to prominence as a go-to destination for chatbots.
Conversational marketing tools can be an excellent addition to your sales force, as more than 40% of consumers use them to make purchases.

Chatbot Usage and Engagement Statistics

87.2 percent of customers say they had a positive or neutral experience with chatbots, according to a new survey.
Only 12.8% of customers have complained about a bad experience.
The most common reason people use chatbots is that they want an answer quickly.
41.3 percent of consumers use conversational marketing tools to make a purchase.
Consumers would like to use a chatbot to make reservations for one-third of the population.
At an average of 87.58 percent, bot-only chats outperform those that are transferred to human agents by two percentage points.
With 36% of chatbot users, the United States is the most populous country in the world, followed by India (11%), and Germany (8%).
On average, C-level executives initiate online chat conversations with 41% of all business chat participants. Some 27% of consumers are currently interested in AI (Artificial Intelligence) support tools.
A customer service bot is used by 37% of people in an emergency.
Chatbots are more popular with baby boomers than with millennials.
Only 36.81 percent of men use chatbots when making online purchases, but nearly half of all female shoppers prefer them.
One out of every five live chats is ignored and not responded to.
Millennials use social media apps more than any other generation, and three-fifths of them have interacted with chatbots at least once.

Chatbot Adoption Statistics

Only 42% of B2C websites have chatbots, compared to 58% of B2B.
39% of companies use chatbots to improve the interactivity of their websites.
About 65.1% of companies using chatbots are SaaS firms.
More than a third of customers say they’d like to see more businesses use chatbots. Some 24% of large corporations, 15% of medium-sized businesses, and 16% of small businesses currently use chatbots.
60% of people have interacted with a chatbot in the past year.
More and more of our interactions will take place with bots by the year 2022.
More than half of service organizations plan to use chatbots within the next 18 months.
A majority of businesses (56%) believe chatbots are a disruptive force in their sector.

Chatbot Conversion Statistics

A typical chatbot responds 35% to 40% of the time.
Up to 90% of customers respond to the best bot experiences with more engaged customers.
According to the industry, chatbot technology can boost conversion rates by 10% to 100%.
Facebook Messenger chatbots and abandoned cart chatboxes have helped e-commerce businesses increase revenue by between 7 and 25 percent.
One-quarter of respondents prefer virtual assistant recommendations to human salespeople when it comes to product purchases.
A combination of better bot experiences and more engaged audiences is resulting in response rates of between 80% and 90%.
Chatbots, according to business leaders, have boosted sales by an average of 67%.
57% of companies claim that a chatbot offers a significant Return On Investment (ROI) for a minimal outlay.

Chatbot Benefits Statistics

The response time of a chatbot is faster than that of a human being.
Sixty-eight percent of customers say they prefer using chatbots because of the speed at which they can get answers.
Customers also appreciate the ability of a chatbot to assist them outside of normal business hours and to route their inquiries to a live agent.
The most significant advantage of a chatbot, in the opinion of customers, is the availability of round-the-clock assistance. It has been estimated that chatbots have slashed operational customer service costs by up to 30%.

Chatbot Challenges Statistics

Consumers’ biggest concerns about chatbots are that they don’t understand them and can’t solve complex problems.
The vast majority (nearly half) of customers believe that chatbots interfere with their ability to communicate with a real human agent.
Consumers are grateful to the extent to which robots are unable to fully comprehend their needs.
60% of consumers prefer to wait and speak to a human rather than a chatbot, according to a survey.

Chatbot Marketing and Business Statistics

55 percent of businesses use chatbots to generate better leads. Chatbots, according to business leaders, has increased sales by 67%.
Pre-built AI programs, such as virtual agents and chatbots, are used by 40% of US, EU, and Chinese businesses.
41 percent of businesses use chatbots for sales, 37 percent use them for customer service, and 14 percent use them for marketing (17 percent).
Voice-to-text dictation (46 percent) and task collaboration (26 percent) are the most popular uses of AI (Artificial Intelligence) chatbots.
Chatbots are expected to improve customer service by 64%, according to businesses.
Some businesses plan to spend more on voice assistants than mobile apps in the future.
Companies with fewer than fifty employees are more likely to make use of chatbots than larger ones.

Chatbot Messaging Apps Statistics

More than five billion people use messaging apps every month.
Messaging apps and chatbots are popular with 1.4 billion people.
Blue-Bot sent over 500,000 messages to over 200,000 customers last year.
Facebook Messenger has over 300,000 chatbots.
People spend 10 minutes of every 11 minutes on their mobile devices using apps.
Retargeting ads, on the other hand, have a 30 percent lower ROI than Messenger conversations between brands and customers.

Consumer Preferences Statistics

More than a third of millennials have used a chatbot at some point in their lives.
About 47% of people who use chatbots make a purchase.
Conversational chatbots are preferred by 33% of internet users when booking and ordering online.
Consumers prefer to communicate with chatbots than call customer service.
Microsoft Cortana (49 percent), Apple Siri (47 percent), and Google Assistant (47 percent) are the most popular work-related AI chatbots (23 percent).
More than half of shoppers say they are more likely to buy from a company if they can contact them directly.
More than half of those polled said they would prefer a chatbot with a personality to help them with their problems.

Industry-Specific Statistics

Real estate (28 percent), travel (16 percent), education (14 percent), healthcare (10 percent), and finance (10) are the top five industries that reap the most benefits from chatbots (5 percent).
Chatbots can make a lot of money in the real estate industry.

Finance

By 2022, chatbots are expected to handle 75% to 90% of customer queries in banking and healthcare. By 2023, banking chatbots are expected to save $7.3 billion in global costs.
Since the beginning of the global pandemic, two-thirds of leading international financial service firms have begun using chatbots in their apps.

Travel/Hospitality

Chatbots can be useful (40 percent) or very useful (26 percent) when it comes to managing business and works travel arrangements, according to a survey.
More than half of people would prefer to use an intelligent chatbot when booking a trip.
87 percent of users say they would use a travel chatbot if it saved them time and money.
In the two and a half months since its debut, a GRT Hotels & Resorts chatbot has exchanged over 175,000 messages.

Retail

Over a third of retail customers prefer AI chatbots to live chat for customer service.
Over 70% of all chatbot conversations will be with retail chatbots by 2023, according to a new report.
In 2019, more than 40% of US consumers used chatbots to interact with the retail industry, according to a survey.
Clothing is the most popular item sold via chatbots on the internet.
Of the most successful online stores, 22% sell clothing. Health products (9%), furniture (9%), electronic (8%), and jewelry (8% each) follow closely behind (8 percent).

Recruiting

Chatbots are expected to play a significant role in the recruitment process by the end of 2022.
By using a recruiting chatbot, XOR is able to increase efficiency by 33 percent, screen 85 percent more resumes, and spend 50 percent less per hire.
A recent Allegis survey found that 58% of job seekers were open to interacting with AI and recruitment chatbots during the initial stages of the application process, which is encouraging.

Chatbots for Customer Support Statistics

eCommerce revenue can rise by up to 25% when abandoned cart chatbots are used in conjunction with Facebook Messenger.
Chatbots can help you save 30% on customer support costs.
Customer service organizations are expected to grow at a rate of 136 percent in 2019.
58% of customers say that chatbots have altered their expectations for customer service.
Customer service agents who use chatbots have more time to deal with more complex and challenging problems.
Alexa and Google Home chatbots have been used by 16 percent of Americans while shopping.

Chatbot Implementation Statistics

There is 53 percent of companies use AI chatbots to help with IT issues, while only 23 percent use them for administrative tasks.
In 1966, an automated chatbot named ELIZA was developed.
The United States, India, Germany, the United Kingdom, and Brazil are the top five countries in terms of chatbot use.
Nearly a quarter of the global population was expected to be interacting with chatbots by the end of 2019.
Chatbots will be worth $5 billion by the end of 2021. Chatbot interest grew by a whopping 160% last year.
Around 40% of all cognitive artificial intelligence spending is spent on software, and the two areas of focus are conversational AI and machine learning.

Chatbot Growth Statistics

Consumer retail spending via voice bots is expected to increase from $2.8 billion in 2019 to $142 billion by 2024, according to predictions.
A whopping 47% of companies anticipate using chatbots for customer service by the year 2021.
More than two-thirds of financial institutions now offer customer service via chatbots.
Nearly 16,000 websites in the United States have a chatbot.
Chatbots in healthcare will be worth $340 million by 2027, according to market research firm Gartner.
By the year 2022, it is expected that 80 percent of companies will have implemented some type of conversational bot system.
AI integration will be dominated by social media.

Chatbot Forecasts and Predictions Statistics

During the year 2023, chatbot eCommerce transactions are predicted to reach $112 billion.
Chatbots are predicted to save businesses $8 billion by 2022.
By 2023, chatbots are expected to save businesses 2.5 billion hours.
Chatbots will cut customer interaction costs by $0.70 by 2022, according to Gartner.
The global chatbot market is expected to reach $994 million by the year 2024.
Chatbots are here to stay, according to 96% of businesses.
Email marketing could be replaced by chatbots.
By the year 2021, it is possible that more than 85% of customer interactions will be handled without the assistance of a human agent.

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Conclusion

Chatbots are an interactive and easy way for consumers to engage with brands. It looks set to become the future digital communication channel of choice. As a result, businesses should consider implementing chatbots to stay ahead of the competition and keep up with consumer demands.

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