Bot Services Market Size, Share & Industry Analysis, By Mode (Audio, Video, Text), By Services (Framework, Platform), By Deployment (Social Media, Websites, Mobile Application), By End-User (BFSI, Government, Education, Telecommunications) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
The growing number of adoption in the Internet and online services around the world has demanded bot services. The accessibility of numerous tools and platforms for providers to develop and implement bot services and an increase in bot usage in various sectors such as BFSI and E-commerce are accelerating market expansion. Bots can address a wide range of difficulties, including those more complex, such as taxes. These services allow users to add intelligent agents that can communicate without investing time and money in implementing their own AI.
Smaller enterprises also adopt Chatbots for customer service and even internal tasks, which can help them save money and financial resources to expand their company. As a result, the opportunity for bots to be used in the workplace has developed.
The increasing demand for feature phones and the incorporation of advanced AI and NLP techniques are some of the growth factors for the bot services market. The BOT services industry benefits from increased investment, growing demand for enhanced services, digitization, and urbanization. Moreover, increased alliances and a broader ecosystem provide profitable prospects for market players.
The outbreak of the COVID-19 pandemic is positively impacted the global bots services market. It is primarily due to the increased majority of the people working from home, resulting in service companies turning to bots to help clients resolve their issues quickly. Moreover, during the COVID-19 pandemic, chatbot sales increased in the healthcare industry. Many commercial and public health care websites used chatbots for basic healthcare assessment and diagnosis of isolated patients.
- In April 2020, WHO (World Health Organisation) launched chatbots on Facebook messenger to provides quick and accurate information about COVID-19 through Facebook's worldwide reach.
Key Market Driver -
Increasing implementation in advanced technology such as adoption of web, AI and cloud based technology to drive the market growth.
Key Market Restraint -
Increasing Cyber Attack and security issues to restrict the market growth
Key Players Covered:
The major companies in the global bot services market include Amazon Web Services, Aspect Software, Inc., Astute, Inc., Google LLC., Microsoft Corporation, Nuance Communication, Inc., Creative Virtual Ltd., Facebook, Inc., IBM Corporation, RASA Technologies GmbH, Kore, Inc., CogniCor Technologies, Inbenta Technologies, Next IT Corporation, Avaamo, and others.
Regional Analysis:
North America is expected to hold a significant market share in the global bot service market. They were owing to rapid technological adoption and the availability of a considerable number of bot service providers. The region presents one of the most well-structured economies in terms of Gross domestic product, technological breakthroughs, and technical infrastructure. Companies in the United States and Canada have readily accepted Bot services to communicate with their customers. These are all factors driving the market growth in North America.
APAC is likely to exhibit remarkable market growth with the highest CAGR during the forecast period due to increased social media users such as facebook messenger, telegram, and WeChat. Increasing user involvement on social media is one of the primary elements driving the market growth in the APAC region. The market in Europe holds considerable market growth owing to an increasing requirement for bots services among enterprises.
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Segmentation
ATTRIBUTE | DETAILS |
By Mode |
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By Services |
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By Deployment |
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By End-User |
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By Region |
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Bot Services Industry Developments:
- In January 2021, Microsoft Corporation announced the transition of the Microsoft healthcare Bot Service to Azure for enabling customers to take advantages of Azure’s improved tools, security, compliance feature.
- In May 2020, The Poynter Institute’s International Fact-Checking Network (IFCN) launched chatbots on WhatsApp to provide access to the translated work of more than 80 fact-checking organisations around the world.
- Ongoing
- 2023
- 2019-2022
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