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According to a new market report pertaining to the global chatbot market published by Transparency Market Research the global chatbot market was valued at US$ 274.5 Mn in 2019 and is projected to reach US$ 2,358.2 Mn by 2027, at a CAGR of 31.3% during the forecast period from 2020 to 2027. The adoption of the chatbot system is expected to increase due to increasing adoption of artificial intelligence technology in services sector.
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