Report Overview

The evolution of omnichannel retail and customer engagement, and the overall customer journey in digital channels has resulted in service providers supporting multiple integrated messaging apps, websites and voice channels to provide an enhanced commerce experience. Juniper Research’s latest Conversational Commerce research offers in-depth analysis of messaging applications and insight into the market growth of this developing market benefiting the user journey, along with tailored future recommendations for conversational commerce service providers in order to maximise customer satisfaction.

This product innovation research into conversational commerce channels meticulously assesses future opportunities within the conversational commerce market and online customer experience by analysing multiple channel and vertical opportunities. The product details includes an assessment of market drivers and challenges, and provides future recommendations for potential customer interactions by conversational commerce service providers. Other key factors of this deep learning report include 5-year forecasts aligned with strategic analysis, and prominent players in Juniper Research’s Competitor Leaderboard, which evaluates 19 conversational commerce vendors using a number of quantitative and qualitative criteria.

The essential business function report contains a sector analysis of key industries primed for disruption using conversational commerce tools, including:

  • Banking & Financial Services
  • Digital Ticketing
  • eCommerce & Retail
    • Clothing & Fashion
    • Electronics
    • Food & Groceries
It also contains a thorough product offerings analysis split across 4 key messaging channels:
  • Chatbots
  • Digital Voice Assistants
  • OTT Messaging
  • RCS Messaging
This research suite includes:
  • Market Trends & Strategies (PDF)
  • Competitor Leaderboard (PDF)
  • Data & Forecasting (PDF)
  • 5-year Market Sizing & Forecast Spreadsheet (Excel)
  • 12 Months' Access to harvest Online Data Platform
Key Market Statistics
Market Size in 2022: $13.3bn
Market Size in 2023: $25.1bn
2022 to 2023 Market Growth: 89%

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Key Features

  • Key Takeaways & Strategic Recommendations: An overview of the key trends and opportunities present in the market, and Juniper Research’s strategic recommendations on how to capitalise on this growing area.
  • Business Model Analysis: An evaluation on the future of the conversational commerce market, analysing its full potential by assessing:
    • Conversational Payments
    • Embedded Finance
    • Omnichannel Retail
  • As well as recommendations for value-added services including:
    • Brand Authentication
    • Brand Identity
    • Digital Loyalty Programmes
    • QR Codes
  • Market Segment Analysis: Deep dive evaluation of the use cases and monetisation strategies, paired with supplementary 5-year forecast data that will aid in future conversational commerce market growth. The 3 key markets considered here include:
    • Banking & Financial Services
    • Digital Ticketing
    • eCommerce & Retail
      • Clothing & Fashion
      • Electronics
      • Food & Groceries
  • Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 19 conversational commerce providers; positioning them as either an established leader, leading challenger, or disruptor and challenger. Our Competitor Leaderboard scores these companies on their size of operations in the conversational commerce space, their extent and breadth of market partnerships, the sophistication of their platforms, and Juniper Research's view on each company's innovation and future business prospects. The companies included in Juniper Research's Conversational Commerce Competitor Leaderboard are:
    • Clickatell
    • Comviva
    • Genesys
    • Google Dialogflow
    • Gupshup
    • Infobip
    • Kaleyra
    • Kasisto
    • LivePerson
    • Meta
    • Octane AI
    • Route Mobile
    • Sinch
    • Tata Communications
    • Viber
    • Vonage
    • WhatsApp
    • Zendesk
  • Benchmark Industry Forecasts: 5-year forecasts are provided for total conversational commerce users, total transactions and total transaction volume. These forecasts are split into 4 traffic channels including chatbots, OTT messaging, RCS messaging, voice assistants, and further split by 3 key markets including banking & financial services, eCommerce & retail and digital ticketing. These metrics are split by our 8 key forecast regions and the 60 countries listed below: 
    • North America:
      • Canada, US
    • Latin America:
      • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay.
    • West Europe:
      • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.
    • Central & East Europe:
      • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine.
    • Far East & China:
      • China, Hong Kong, Japan, South Korea.
    • Indian Subcontinent:
      • Bangladesh, India, Nepal, Pakistan.
    • Rest of Asia Pacific:
      • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam.
    • Africa & Middle East
      • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates.

Key Questions Answered

  1. What will the transaction value of all conversational commerce spend be by 2027?
  2. How can conversational commerce service providers maximise revenue potential for brands and enterprises?
  3. Which communication channel will generate the most conversational commerce spend by 2027?
  4. Which markets are primed for disruption from conversational commerce?
  5. Who are the leading players in the conversational commerce market in 2022?

Companies Referenced

Interviewed: Clickatell,, Infobip, Kaleyra, Route Mobile, Tata Communications, Vonage.
Included in the Juniper Research Competitor Leaderboard: Clickatell,, Comviva, Genesys, Google Dialogflow, Gupshup, Infobip, Kaleyra, Kasisto, LivePerson, Meta, Octane AI, Route Mobile, Sinch, Tata Communications, Viber, Vonage, WhatsApp, Zendesk.
Mentioned: 20 Minutes, A Voté, Absa, Absa Cape Epic, Accura Scan, ACL Mobile, ACTITO, Adax, Adobe, AfroSaude, AFS (Arab Financial Services), AI.Reverie, Air Asia, Airtel, Al Rayan Bank, Alfa-Bank Kazakhstan, Allied Bank, Amazon, American Express, AmeriSave Mortgage, Anam, Aramex, Arbetsförmedlingen, Ares Management, Armature Studio, Asia Insurance 1950, AstraZeneca, Audiocodes, AVAYA, Axiata, Baby Coats, Bahrain Financing Company B.S.C, Banca Intesa San Paolo, Banca Sella, Banca Transilvania, Banca Widiba, Bancontact, Bandyer, Bank of Maharashtra, Barry Callebaut, Bharti Airtel, BlaBlaCar, BlackRock, Blue Turtle Technologies, BMW, Bold360, Bolt,, Bosch Group, BotCentral, BT, Building Blocks, Bukalapak, Cake, Camouflaj, Cancer Research UK, Capitec, Carbyne, CarDekho, Carousell, CBN (Central Bank of Nigeria), Centilli, Chatfuel, Chatlayer, Cisco, CitNOW, Citrus, CIVICA, ClearFreight, Coca Cola, Comcast, ConsenSys, Conversable, Crunch, CTI Africa, Curious Thing, Curlsmith, CX Company, Cybersource, CYSM, Dahmakan, Danfoss, Daraz, DataMix, DBS, DBS Bank, Decentro, Deloitte, DHL, Dialogic, Digitel, DinarPAY, DocPlanner Group, Doctolib, Doctor Anywhere, Domino’s, Dotgo,, DPD UK, Dutch Government,, e-bot7, Ebury, Eclat Media Group, Econet Wireless, EE , Emirates, Etam, Etisalat, Euroconsumers, ExamRoom.AI,, Fidelity Management, FIS, Fisher & Paykel, Five 9, FKP Scorpio, Flipkart, FlySafair, Food Network, Gamigo, Genesys, Geva Group, Giorgio Armani, Glassdoor, Global Ticket, GM Financial, GoDaddy, Goosehead Insurance, Grameenphone, GT Bank, HDFC Bank,, Healthcare at Home, Hellman & Friedman, HeyHi, HF Group, Holiday Inn, Hotelbeds, HP, HSBC, Hutch, ICICI Bank, Idea Cellular, iDeal, IKEA, ImagineOptix, Indosat, Infobip, Instagram, Insung Information, Inteliquent, Interteleco, IOCL, Jazz, JioChat, Johnson & Johnson, Jones Road Beauty, JP Morgan Chase,, Kakao, Kellogg’s, Key Travel, Klaviyo, KLM Royal Dutch Airlines, Leanpay, Lebara Mobile, LendingPoint, LINE, LinkedIn, Litify, liveClinic, Lofelt, log build, Manulife, Marham, Masivian S.A.S , Mastercard, medGo, MediaMarkt, Mepal, Mercedes Benz, MessageMedia, MessengerPeople, Meta, Microsoft, Miracle Mink Hair, Mitel, MobiFone Vietnam, Momentive, Moneythor, Monjin, MotoGP, MTD Products, MTN, Mukuru, myElefant SAS, Nature Wisr, Nedbank, Nederlandse Loterij, Netokracija, New York Angels, New10, Nexi, Next Education, Nice inContact, Nickel, NLB Banka, Novartis, Novo Nordisk, NPR One, Oak HC/FT, OLA, Onecom, OneDirect, Ooredoo, OpenSooq, OpenTable, Orange, Ouest France, Oxfam, Paidy, PalFish, Panera Bread, Papa John’s Pizza, Parkmobile, Partnership of New York City, Pathwire, Paylogic, PayPlaza, Peerless Network, PensionBee, Pointillst, PopBox Asia,, PUBG, Radware, Raiffeisen Bank, Rakuten, RAM Tracking, Randstad, Rapido, Rappi, ReCharge, Red Hat, Redfin, Reliance Jio, Relief International, Remitly, Revolut, Rho, Roadmap, Robi,, Routesms Solutions FZE, RSPCA, Safaricom, Santagostino, SAP, Sberbank, SBI , SecureAppbox, Selligent, Senati, Sequoia, ShoeBeDo, Shopify, Siemens, Signal Wire, Singapore Airlines, Skinny Mixes, Skype, Slack, Sngular, Spotify, SRI International, Standard Bank, Standard Chartered Bank, Sterling Bank Plc, StoryCorps, Strands,, Tangerine, TanTan, TATA 1mg, TD Bank, Tea Junction, Tele2, Teledgers Technologies, Telefónica, Telegram, Tele-Town Hall, Temasek Holdings, Ten Coves Capital, Tenfold, Tesco, The Motley Fool, The Partnership Fund for New York, The Times Group, The Wall Street Journal, Thinca, Ticketmaster, Tiger Global, TM (Telekom Malaysia Berhad), TP Vision, Transcosmos Research & Development Inc, Truecaller, TTN, Túlka, Twilio, Twisted Pixel Games, Twitter, Two Sigma Ventures, UBA, Uber, UCSC, Ujet , Unilever, Unit 2 Games, US Foods, Viber, Vietnamobile, Vinted, Visa, Visionflex, Vodafone, Vogue, VoiceBase, VoicePing, VoiceSage, Volpy, Voximplant, VTB Bank, VvAA Groep BV, Wall Street English, WAVY Global, WeFarm, Wells Fargo, Welthungerhilfe, Westpase, WeWork, Wicked Edge, Within, WorkIndia, Wrigley, Wurth, Xerox, Yousign, Zain, Zamtel, Zapier, Zipcar, Zomato.

Data & Interactive Forecast

Juniper Research’s Conversational Commerce forecast suite includes:

  • Conversational Commerce Market Summary, including:
    • Total Users of Conversational Commerce
    • Total Spend over Conversational Commerce
  • Chatbot Commerce Market Summary, including:
    • Total Number of Commerce Chatbots Accessed per annum
      • Web-based
      • App-based
    • Total Number of Commerce Chatbots That Complete In-app Purchases
    • Total Spend over Chatbot Commerce
  • OTT Messaging Commerce Market Summary, including:
    • Total Number of Smartphone Users Who Use IM (Instant Messaging)
    • Total Number of IM Users That Are Conversational Commerce Capable
    • Total Number of IM Commerce Transactions
    • Total Transaction Value via IM Conversational Commerce Services
  • RCS Messaging Commerce Market Summary, including:
    • Total RCS-capable Mobile Subscribers
    • Total Number of RCS-capable Subscribers Making Payments via Conversational Commerce
    • Total Transactions via RCS-based Conversational Commerce
    • Total Spend over RCS-based Conversational Commerce Channels
  • Voice Assistants Commerce Market Summary, including:
    • Total Voice Assistants That Are Payment-enabled
    • Total Number of Voice Assistants That Actively Make Payments
    • Total Transactions Made by Payment-enabled Voice Assistants
    • Total Spend over Payment-enabled Voice Assistants
  • Data Splits for each channel is also provided for the proportion of total spend attributable to the following markets:
    • Banking
    • eCommerce & Retail
      • Food & Groceries
      • Clothing & Fashion
      • Electronics
    • Digital Ticketing

Geographical splits: 60 countries
Number of tables: 159 tables
Number of datapoints: Over 108,700 datapoints

harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart – using the comparison tool. Empower your business with our market intelligence centre, and receive alerts whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a client’s ability to both understand a particular market and to integrate their own views into the model.

Forecast Summary

The global spend for conversational commerce over OTT channels, including WhatsApp or WeChat, will rise from $13.3 billion in 2022 to $25.1 billion in 2023. This growth of 89% will be driven by verticals such as retail and eCommerce, which provide increased online presence and product availability as retailers refine their online customer experience.
  • eCommerce and retail will account for over 35% of spend via OTT conversational commerce channels in 2023; equating $9 billion of spend globally. However, regional fragmentation in the OTT messaging space was identified as a key hurdle to growth. To overcome this, conversational commerce vendors must onboard each messaging app individually, while adhering strictly to the varying financial regulations in each country.
  • Other issues for conversational commerce vendors include the varying types of payment methods in use across countries. Vendors need to account for these differences and support various digital wallets. This flexibility will enable vendors to offer a complete omnichannel experience by providing payments across OTT apps, chatbots, voicebots and RCS business messaging.
  • To increase market share, conversational commerce platforms must also invest in value-added services to provide differentiation from existing conversational services. For example, digital loyalty programmes can be used to provide personalised and incentivised messages to achieve increases in digital engagement. In addition, vendors must facilitate features such as link tracking and call-to-action support to monitor engagement.
  • Supporting a sufficient number of communication channels is no longer enough to ensure the success of omnichannel experiences. Vendors must look to include additional value-added services into their business model to create depth within existing communication channels.

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  • Market trends, strategies and forecasts report (pdf)
  • Competitor leaderboard (pdf)
  • Market data & forecasts - All topic data and interactivity (xls)
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Research FAQs

What is conversational commerce??
Which markets present opportunities for conversational commerce??

Research Details

Juniper Research
Elisha Sudlow-Poole
Fintech & Payments
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Algeria, Argentina, Australia, Austria, Bangladesh, Brazil, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Israel, Italy, Japan, Kenya, South Korea, Kuwait, Malaysia, Mexico, Nepal, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Qatar, Russian Federation, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, Ukraine, United Arab Emirates, UK, Uruguay, USA, Vietnam