Bot Services Market size was estimated at $XX billion in 2020 and is expected to reach $XX billion by 2028, growing at a CAGR of XX% during the forecast period of 2021 to 2028.
Bot Services Market
Bot services interact with customers through online platforms without human intervention. Microsoft, Facebook, IBM, and Google are among the top bot platforms in 2020. The bot services help businesses to automate customer services through intelligent chatbots. These chatbots can be customized according to the end-user industry preferences and used in various apps such as email, Facebook messenger, skype, Microsoft teams. Many organizations have started adopting bot services to reduce human efforts in answering repetitive questions, responding immediately, and assessing customer behaviours.
Software and service-providing companies build, develop, test, and deploy the bot services in the cloud. The service providers manage and facilitate the best bot services for their client companies. The bot services market is growing exponentially due to the adoption of these solutions in a wide range of industries such as Healthcare, IT, BFSI, and manufacturing.
Bot Services Market Growth and Trend
The growing demand for the adoption of advanced technologies like artificial intelligence and machine learning is significantly driving the growth of the global bot services market. The advantages of the bot services have compelled service-based and software industries to adopt these services. In developed and developing countries, bot services have replaced the traditional initial human interactions over the internet. Moreover, the increasing consumer spending on advanced technologies expects to surge the bot services market.
However, small & medium enterprises could not sustain the high initial investments demanded to implement the bot services. It may hamper the bot services market to an extent. The other factor that hinders the bot services market is the lack of awareness about the benefits offered by the bot services in various organizations.
Bot Services Market Segmentation
The bot services market is segmented by service type, application, and industry vertical. Based on service type, the market consists of a framework and platform. The framework is divided into natural language processing, machine learning, and artificial neural network. The platform service type is subdivided into web-based and mobile-based platforms. Based on application, the market is segmented into websites, contact centres, customer service, and social media. Based on industry vertical, the market is divided into BFSI, IT & telecom, manufacturing & automobile, sports & entertainment, hospitality, healthcare, and others.
Bot Services Market Country Analysis
North America is likely to dominate the overall bot services market growth during the forecast time frame. The regional growth can be attributed to the early adoption of advanced technologies and the presence of key players. Moreover, with the increasing investments in advanced technologies such as Artificial intelligence, Machine Learning in developing countries like India, China, and Japan, the market in the Asia Pacific is predicted to witness growth at a higher CAGR. The adoption of smart and advanced digital solutions in these regions surged the growth of the bot services market.
Bot Services Market Share and Competition
The major players operating in the global bot services market are Amazon Web Services, Inc., Google LLC., International Business Machines Corporation, Microsoft Corporation, Nuance Communications Inc., Creative Virtual Ltd., Astute Inc., and Inbenta Technologies Inc. Amazon Web Services Inc. is a global provider of cloud computing platforms and industrial APIs.
Google, LLC. is a multinational company providing Google Chat apps and Google Bot services to various organizations for commercial applications. Google Search, Maps, Android Platform, Chrome Browser, YouTube, Google Play, Gmail, and smartphones are some of Google’s core products.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Service Type Analysis (Revenue, USD Million, 2021 - 2028)
• Framework
o Natural Language Processing
o Machine Learning
o Artificial Neural Network
• Platform
o Web-based
o Mobile-based
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Websites
• Contact Centers and Customer Service
• Social Media
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• BFSI
• IT & Telecom
• Manufacturing & Automobile
• Sports & Entertainment
• Hospitality
• Healthcare
• Others
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o the United States
o Canada
o Mexico
• South America
• Europe
o France
o Germany
o Italy
o Spain
o the United Kingdom
o Austria
• the Asia Pacific
o Russia
o China
o Japan
o India
o the Philippines
o Malaysia
o Australia
o South Korea
• Middle East
o GCC Countries
o South Korea
• South Africa
• Rest of World
Bot Services Market Companies
• Amazon Web Services, Inc.
• Google, LLC.
• International Business Machines Corporation
• Microsoft Corporation
• Nuance Communications, Inc.
• Creative Virtual Ltd.
• Astute, Inc.
• Inbenta Technologies Inc.
Available Versions
• United States Bot Services Industry Research Report
• Europe Bot Services Industry Research Report
• Asia Pacific Bot Services Industry Research Report
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