53 Chatbot Statistics Businesses Need to Know in 2020

53 Chatbot Statistics Businesses Need to Know in 2020

chatbot statistics

If you’ve ever been greeted by a virtual “helper” on a website, there’s a good chance it was a chatbot. Offering special discounts or prompting website visitors for whether or not they’d like assistance, chatbots are 2020’s answer to inexpensive and effective customer service. While automated helpers like chatbots or textbots have different benefits and drawbacks, statistics on chatbot growth might surprise you. 

Before we dive into chatbox statistics, let’s clear up exactly what they are and how they’re used.  

What are chatbots

Wondering, “What is a chatbot?” In short, chatbots are used for websites, social media platforms, or through texting, to simulate a human conversation. Statistics show they’re becoming increasingly popular as businesses become more digitally focused. Chatbots, also referred to as textbots, have predetermined limits set in place to respond to common questions they might be asked. They can help improve your customer service while at the same time giving you the ability to refocus your staff on higher level business tasks. 

Chatbots also usually include a capability to score leads and direct customers to a real human if they do not understand or cannot answer a given question. Having a system in place to answer common consumer questions not only makes the customer experience positive, but drastically cuts the need for human customer service labor. 

53 Chatbot statistics for business in 2020

A look at these chatbot statistics shows the growth you can expect in the chatbot space in 2020 and beyond.

  1. The finance, healthcare, education, travel, and real estate industries are profiting the most from chatbots. 
  2. 80% of businesses are projected to integrate some form of chatbot system by 2020. 
  3. Chatbots can help businesses save as much as 30% of customer support costs. 
  4. The market value of chatbots was $703 million in 2016. 
  5. More than 50% of customers anticipate that businesses are open 24/7. 
  6. According to Drift, 64% of people online say the 24/7 availability of chatbots is their best feature.
  7. Chatbots are popular among both millennials and baby boomers.
  8. There are more than 300,000 active chatbots on Facebook.
  9. 69% of consumers prefer chatbots because of their ability to provide quick replies to simple questions. 
  10. Chatbots can answer up to 80% of standard questions, according to IBM. 
  11. 95% of consumers believe that ‘customer service’ will benefit the most from chatbots. 
  12.  56% of consumers prefer to message a business for help rather than call customer support. 
  13.  67% of customers globally reported using a chatbot for customer support in the past year.
  14.  37% of consumers expect to receive quick responses during emergencies. 
  15.  33% of consumers would like to use chatbots to make reservations, place online orders, and other functions. 
  16.  67% of millennials in the US reported that they would likely purchase products and services from brands with chatbots.
  17.  Platforms equipped with chatbot functions can boost brand awareness, sales/lead generation, marketing engagement, and customer support. 
  18.  Messaging platforms that have both voice and text-based programs are becoming the preferred method to engage with businesses. Voice bots also offer an element of personalization that minimizes problems caused by consumers’ requirements.
  19.  Businesses with at least $1 billion in annual revenues can expect to see an increase in average revenue by $823 million over three years.
  20. 1 in 5 consumers would potentially buy goods and services from chatbots.
  21.  The global chatbot market size will be $1.25 billion by 2025. 
  22.  The chatbot market value was at $703 million in 2016. 
  23.  Worldwide, chatbots will generate over $8 billion in savings by 2022. 
  24.  The chatbot market growth will accelerate more in the 2016-2023 period. 
  25.  Messaging apps have over 5 billion active users a month. 
  26.  The chatbot market size worldwide will reach $1.3 billion in 2024. 
  27.  By 2020, 80% of enterprises will use chatbots. 
  28.  Countries with the most number of chatbot users are the US (36%), India (11%), and Germany (4%). 
  29.  24% of enterprises, 15% of mid-sized companies, and 16% of small businesses now use chatbots. 
  30.  41% of people starting online chat conversations with businesses are C-level executives. 
  31.  From 20% in 2017, 50% of online searches will use voice assistants by 2020. 
  32.  Using chatbots can help businesses save up to 30% from the $1.3 trillion they spend to service customer requests. 
  33.  64% of internet users say the best chatbot feature is 24-hour service. 
  34.  55% of users say they enjoy getting quick responses to simple questions from a chatbot. 
  35.  34% of users declared they would prefer to answer questions from a chatbot concerning ecommerce. 
  36.  Chatbots can help businesses save on customer service costs by answering up to 80% of routine questions.
  37.  By using chatbots, businesses and consumers will save a combined 2.5 billion hours by 2023. 
  38.  People from 195 countries use online chat to start conversations on business websites. 
  39.  The top 3 work-related AI chatbots are Microsoft Cortana (49%), Apple Siri (47%), and Google Assistant (23%). 
  40.  66% of Millennials versus 58% of Baby Boomers consider 24-hour service as the top benefit of using chatbots.
  41.  34% of users say they would use a chatbot to find a human customer service agent. 
  42.  40% of millennials say that they chat with chatbots daily. 
  43.  43% of people prefer to deal with a human assistant versus a chatbot.
  44.  15% of American adults have used a chatbot. 
  45.  43% of digital banking users in the US prefer to use a live chat or chatbot to address issues. 
  46. The European market (45%) leads in terms of the number of chatbots, followed by North America (28%). 
  47.  67% of US millennial internet users would purchase a product/service from brands using a chatbot. 
  48.  47% of American adult internet users think that chatbots give many unhelpful answers. 
  49. Users in Asia-Pacific and Europe are similar in terms of the maturity chatbot usage mix. 
  50.  35% of people say they would use a chatbot for a complaint, a problem, or to get explanations. 
  51.  In emergencies, 37% of users say they would use a chatbot to get quick responses.
  52.  57% of executives cite that conversational chatbots enable their websites to provide personalized attention to customers.
  53. By 2022, 70% of business workers will interact with chatbots daily.

Sources:

Linpinseo.com

Financeonline.com

https://www.ibm.com/blogs/watson/2017/10/how-chatbots-reduce-customer-service-costs-by-30-percent/

https://www.gartner.com/smarterwithgartner/chatbots-will-appeal-to-modern-workers/

 

 

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