The global market of chatbots accounted for USD 88.5 Million in 2015 and is anticipated to witness a substantial compound annual growth rate of 35.08% over the period 2016-2023. Advancements in technologies such as artificial intelligence and ability of chatbots to offer enhanced operations along with the rise in IoT are some of the major factors that are expected to benefit the expansion of global chatbots market in upcoming years.