About Bot Services
Bot Services also known as Chat bots are the automated robots, which are used to interact with human beings on variety of platforms. These bots can be used to simulate and examine human behavior with the help of set of questions in case of static chat bots and the customized questionnaires in case of AI enabled or other dynamic bot services. The bot services are primarily used to stimulate conversations, to increase consumer engagements, to promote products and services and many other applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 31.58% |
Since the bot services can be developed by an open source tools, thus the threat of new entrants will be in high. On the other hand some of the top players including Amazon, Microsoft, Facebook, and Google are having a strong uphold on the Global Market. Thus, the market will show moderate competitive rivalry. Many players will try and differentiate the product portfolio to gain competitive advantage over other players. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Bot Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Microsoft (United States), IBM (United States), Facebook (United States), Google (United States), Amazon Web Services (United States), Nuance Communications (United States), Aspect Software (United States), Inbenta Technologies (United States), Creative Virtual (United Kingdom), 24/7 Customer (United States), Cognicor Technologies (Spain) and Astute Solutions (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Next IT Corp. (United States), Kore.ai (United States), Rasa Technologies GmbH (Germany), Pypestream (United States), Avaamo (United States) and Pandorabots (United States).
Segmentation Overview
AMA Research has segmented the market of Global Bot Services market by Type (Framework and Platform) and Region.
On the basis of geography, the market of Bot Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mode of Delivery, the sub-segment i.e. Text and Rich Media will boost the Bot Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. Banking, Financial Services, and Insurance (BFSI) will boost the Bot Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Channel, the sub-segment i.e. Websites will boost the Bot Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction to artificially enabled as well as NLP tools and Upsurging User Engagement on Social Networks
Market Growth Drivers:
Robust Increase in Social Media Users and Provides Fast and Accurate Solutions
Challenges:
Lack of Awareness in Underdeveloped Regions and Skilled Workforce is required for Bot Development
Restraints:
Increasing Dependency on Deployment Platform and Limited Audience
Opportunities:
Provision of Personalized Chat Bots and Growing Digitalization and Internet Connectivity
Market Leaders and their expansionary development strategies
In March 2023, Zendesk plans to acquire Ultimate, a Finnish generative AI startup that provides AI chatbot development tools as well as automation and analytics features to integrate bots with CRM, order management systems and other back-end business apps.The goal of the acquisition, ultimately, is to bring automation capabilities usually associated with monoliths such as Amazon to Zendesk's 100,000-plus customers.
In April 2024 , Ecommerce fulfillment and customer service provider Salesupply is launching a hybrid AI chatbot. It is meant to reduce customer service costs for online sellers, while also improving customer experience. Soon, the company wants to implement the technology in mail and telephone customer service inquiries as well.
Key Target Audience
Bot Service Providers, Social Site Developers, Application Developers, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.