Conversational AI to generate $57 billion of revenue globally over next three years

A new study from Juniper Research has forecast that global revenue from conversational AI services will grow from $14.6 billion in 2025 to more than $23 billion by 2027 and $30.8bn total revenue in 2029; 110% market growth 2025-2029. It predicts that this revenue, which originates from enterprise spend on conversational AI platforms, will be driven by the benefits of implementing agentic AI to services.

Agentic AI is a subset of AI which enables solutions to act independently to attain a preset objective, whilst learning from previous interactions. Specifically, agentic AI enables enterprises to automate tasks, such as service enquiries and appointment scheduling, over conversational channels; reducing reliance on human agent intervention.

Integration of Agentic AI Frameworks to Unlock Revenue

The report urges conversational AI vendors to integrate agentic AI into their communications technology stack; creating enterprise solutions that automate customer interactions across messaging channels. However, to allow agentic AI to manage these interactions across the complete customer journey, integration with business support systems where customer data is stored is essential. Although the study firmly warned that the level of autonomy given to agentic AI must be carefully considered, with human oversight of actions a necessity during early-stage implementations.

Research Author Molly Gatford commented: “Conversational AI vendors must carefully moderate the outputs of agentic AI models during early-stage implementations. Issues around liability arising from hallucinations or erroneous communications must be avoided before enterprises’ trust in agentic AI can be established. This will best position conversational AI vendors to capitalise on this substantial revenue growth over the next three years.”

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An extract from the new report, Global Conversational AI Market 2025-2029, is now available as a free download.