Chatbot Market projected to reach $10.5 billion by 2026, with a remarkable CAGR of 23.5% iCrowd Newswire According to a new market research report "Chatbot Market by Component, Type (Rule Based & AI Based), Application (Customer Service, Customer Engagement & Retention), Channel Integration, Business Function (ITSM, Finance), Vertical, and Region - Global Forecast to 2026″, published by MarketsandMarkets, the market size to grow from USD 2.9 billion in 2020 to USD 10.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 23.5% during the forecast period. The adoption of chatbot solutions is considerable and is projected to grow at a good pace in the coming years. One of the factors contributing to the growth of the chatbot market is the advent of technologies, such as analytics, AI, and cloud, which enable various industries to organize their operations. Furthermore, the increasing customer demand for self-services is accelerating the adoption of chatbots, thus offering a competitive advantage to businesses.