Trends and Figures for 2023: 40+ Chatbot Statistics 2023

Resource : 

brandcrowd.com

Chatbots are everywhere, but how effectively are customers and businesses using them? I've got all the insightful statistics to help you understand the usage and implementation of chatbots across various industries.

In this article, I have mentioned all of the chatbot stats in various sectors, including eCommerce, business, and the global market. I will also discuss ChatGPT and its hype later in the post

Read on to learn more about the complete Chatbot industry insights in 2023.

Chatbot Statistics – Top Picks

• According to Statista, the revenue generated by the chatbot sector in 2023 will be around $137.6 million.
• Customer support representatives handle an average of 17 interactions daily. Using chatbots in business can save up to 2.5 billion hours.
• 74% of customers prefer a chatbot over a human corporate agent to answer their questions.
• Chatbots are more popular in the UK than in the US.
• With 24.9% growth, Chatbots are the fastest growing brand communication medium.
• Chatbots are expected to handle up to 90% of healthcare and financial inquiries by 2023.
• The e-commerce sector is booming with the incorporation of chatbots.
• Only 9% of customers think businesses should not adopt chatbots.
• There are more than 3 million chatbots used on Facebook Messenger alone.

Chatbot Market Revenue

It is estimated that the revenue generated by the chatbot sector will be around $137.6 million by 2023. It is further estimated that it will generate $454.8 million in sales by 2027. If we look back at history, this figure was only $40.9 million in 2018.

Chat bot eCommerce statistics

• According to Chatbot Magazine, a study revealed that revenue can be earned up to 15% by using chatbots as a way to enable customers via private messages who have left their eCart without making a purchase.
• Invest found that 34% prefer chatbots in eCommerce over other service-oriented venues including banks where AI bots assist customers.
• In a survey, Kindly note that there is a 30% increase in order tracking where the chatbots used in eCommerce stores are very helpful in providing a seamless user experience during the purchase of a product.
• Kahoot! The popular internet game reports 2+ billion players use chatbots to ask questions during gameplay and receive immediate replies without delay.
• Juniper Research calculates that the eCommerce marketplace will achieve $112 in sales by using chatbots for various factors and increasing notifications.

Chatbot Benefit Statistics

• Drift concludes that chatbots are specifically designed for 24/7 support for customers of all geographies regardless of time zone differences.
• A potential chat support worker replacement, chatbots save businesses up to 30% in costs by reducing chat support according to IBM.
• Drift also found that nearly 42% of potential customers use chatbots when buying products online to get seamless, seamless service.
• Using a chatbot only results in 80% customer satisfaction as most chatbots are programmed to provide accurate results according to Kindly.
• Users like to conduct surveys on chatbot services and find that the majority of customers prefer chatbots over human corporate agents to answer questions.
• Chatbot Marketing concludes that the response rate in a high quality chatbot is 80-90% providing smooth customer service compared to agents.

Chatbot Business Statistics

• Juniper Research says that using chatbots in business saves 2.5 billion hours meaning that when value for money is earned, time is also saved.
• $8 billion is expected to be saved by businesses and retail stores by reducing chat support costs by 2023.
• 55% of businesses collect more sales when using chatbots, a case study by Drift.
• In an extensive survey, it was found that only 9% of users want chatbots to go out of business, while the rest still prefer chatbots.
• A study by Drift revealed that 33% of customers prefer chatbots over the phone over calling to make hotel, restaurant and resort reservations.
• MIT Technology firmly believes that 90% of complaints are handled using chatbots instantly if the query is explained correctly.
• 80% of organizations are looking for ways to implement chatbots into their services, says CCW Digital.

Chatbot Customer Support Statistic

• Statista shows that 64% of businesses trust chatbots to provide personalized customer support rather than regular customer service.
• Statista also revealed that 34% prefer to communicate with customer agents via the chatbot protocol rather than telephone or in-person interaction.
• Through some testing, NewVoiceMedia announced that most issues are not instantly resolved by chatbots and requested by customer support agents.
• 40% of customers prefer chatbots and customer support agents as long as their requests are resolved and there is no delay in feedback, says HubSpot.
• Business Insider cites that 48% of customers don't care if customer support is an agent with a personality or an AI-powered chatbot.
• Juniper Research claims that the insurance sector will save up to $1.3 billion in the coming year by incorporating chatbots for effective customer support.

Chatbot Market Statistics

• Gartner estimates that 70% of white-collar employees use chatbots to efficiently complete daily tasks and projects without lagging.
• According to SalesForce, 64% of employees report that they can focus on other aspects of their job while letting chatbots do the customer support.
• Chatbot Magazine estimates that 67% of US Millennials would make a purchase if the marketplace used chatbots to streamline the user experience and suggest offers.
• Juniper Research claims that 75% of queries will be completed by chatbots by 2023.
• Mobile Marketers share that 40% of millennials talk to chatbots for upcoming deals, offers and discounts on desired store or specific product.

Global Chatbot Statistics

• Drift says that 87% of users give positive feedback about chatbots globally across online stores with fewer bad reviews.
• The healthcare sector is provided with 10% instantly after merging chatbots, says Chatbot Life.
• Usabilla reveals the surprising truth that 46% of customers are likely to prefer a human customer agent even though chatbots save quite a bit of time.
• Opus Research says that an investment of $4.5 billion was made to pool chatbots across various sectors for better customer support.
• The chatbot industry will reach $994 million by 2024, a study by ClickZ.
• At least 67% of the global population uses chatbots for customer support, noted by Invesp.
• PwC revealed that 27% of customers who used customer support for assistance had no idea if they were having a conversation whether a chatbot or an actual customer agent.
• According to Statista, chatbot revenue will reach $455 million globally by 2027 if chatbot use continues to be adopted.
• Facebook conducted a survey and found that 79% of users feel confident talking directly to a brand's customer agent, not a chatbot.
• A 2018 throwback by Kindly revealed that $41 million in chatbot revenue appears to be a small fraction of the value of chatbots today.
• In 2021, most brands are focusing on developing their chatbots better than developing their mobile apps, stated in a study by Gartner.

ChatGPT Statistics

ChatGPT is a chatbot developed by OpenAI. It's taking the world by storm. You can use it not only for normal chatting but also for various purposes such as repeating words, checking grammar, playing games, copywriting and many more. Here are some great statistics related to chatbots:

• ChatGPT launches on November 30, 2022.
• ChatGPT, a chatbot powered by artificial intelligence, surpassed 1 million users in less than a week since its official launch.

Latest Insights into the Chatbot Industry (2023)

• What are some of the trends you should look out for in 2023? Let's see.

As we said, chatbots are getting smarter and will dominate A.I. industry in 2023. Here are some of the latest trends that will govern how chatbots will function in the future.

• Voice-activated chatbots will improve in 2023: Alexa, Siri, and other voice-activated assistants are changing how customers engage. Chatbots are currently leveraging this technology, which will ultimately improve user experience and consumer satisfaction.
• Chatbots will accept more payments: By 2023, more businesses will use chatbots that integrate with payment gateways like Paypal, Stripe, and Razorpay and give customers the option to pay directly.
• Chatbots for Post-Sale engagement: So chatbot interactions during the purchase process are very common now, but in 2023, chatbots will help businesses re-engage customers even after the purchase process is complete.
• Chatbots to provide real-time insights: Businesses will use artificial intelligence in 2022 to build chatbots that can provide insights and informative content. This will make it easier for the customer to learn about new specials, discounts and promotions.
• More chatbots on Social Media: As marketers use chatbots to maintain an active presence on social media and foster more personal relationships with consumers, social media chatbot use is expected to continue to grow in 2023.

Final Thoughts: Chatbot Statistics (2023)

Customer support is very important and must be resolved at all costs.

Due to the advancement of technology and AI, most companies and businesses around the world have incorporated chatbots for effective customer support services.

Listed above are chatbots usage statistics and how they are changing the CRM industry

Entering 2023, it is estimated that the use of chatbots will continue to grow. Make sure your business, no matter how small, has a chatbot installed on the platform of your choice.

Resource : demandsage