Global Bot Services Market is valued at USD 0.70 Billion in 2021 and expected to reach USD 4.56 Billion by 2028 with a CAGR of 30.7% over the forecast period.
Global Bot Services Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: The increasing usage of digital and internet-based products by end customers is likely to boost market expansion. Growing consumer expenditure on industrial domains for outsourcing innovative techniques and services is also projected to propel the Bot solutions market forward.
Bot services communicate with clients using online channels without the need for human participation. In 2021, Microsoft, IBM, Facebook, and Google emerged among the leading bot platforms. Bot services assist organizations in automating customer care using intelligent chatbots. Intelligent chatbots may be modified based on end-user business requirements and utilized in a variety of applications, including email, Skype, Facebook Messenger, and Microsoft Teams. Several businesses have begun to use bot solutions to decrease human labor in answering repeated queries, replying quickly, and analyzing client behavior. Bot services are built, developed, tested, and deployed on the cloud by technology and service providers. The solution providers are in charge of managing and facilitating the finest bot solutions for their client's businesses. Because of the widespread usage of these technologies in sectors including medical, IT, Banking, and manufacturing, the bot solutions industry is expanding at an exponential rate.
The worldwide COVID-19 virus has had a substantial effect on practically every industry, with the hardware sector category expected to be the one most damaged during the epidemic. The IT sector's development and demand have decreased as a result of a considerable fall in supply and production capacity. Many applications, like analytics, safety solutions, and machine intelligence, are expected to grow rapidly. Furthermore, as a result of the COVID-19 outbreak, buyer demand is anticipated to shift to online platforms, potentially having an irreversible influence on worldwide consumers and expanding enterprises' online footprint.
The global Bot Services market is segmented based on the deployment, mode type, end-use, and region & country level. Based on deployment, the global bot services market is segmented into contact center, websites, social media, customer service, and mobile applications. By mode type, the market is segmented into audio, text and rich media, and video. By end-use, the global Bot Services market is segmented into telecom, BFSI, retail, government, media & entertainment, healthcare, others.
The regions covered in the global Bot Services market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Bot Services is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global Bot Services Market report cover prominent players like
Emirates NBD Launched Announced The Launch Of Its Voice Banking “Alexa Skill”
On January 6th, 2022; Emirates NBD, a Middle Eastern financial titan, announced the launch of its speech banking application "Alexa skill." The goal of this launch is to allow consumers to activate this service on their smart devices to enjoy the numerous integrated features. This application is also slated to improve voice calling in the UAE.
Netacea Launched its Business Logic Intelligence Service (BLIS)
On November 22th, 2022; Netacea, a bot identification and mitigation company and supplier of the world's first agentless risk detection technology, has launched its Business Logic Intelligence Service (BLIS). This will provide Netacea's clients with actionable knowledge regarding dangerous bot behaviour based on Netacea's continuous research and expertise, including monitoring of dark web communities and bot markets.
HUMAN Security, Inc Launched HUMAN Bot Insights Services to assist BotGuard for Applications clients
On February 22th, 2022; HUMAN Security, Inc. the worldwide leader in protecting companies and internet marketplaces from advanced bot assaults and fraud, has launched HUMAN Bot Insights Services to assist BotGuard for Applications clients in taking proactive actions against advanced bots.
The rising need for new technologies such as artificial learning and machine learning is propelling the worldwide bot services industry forward. The benefits of bot solutions have driven the service-based industry software sectors to embrace them. Bot services have largely supplanted typical first human contacts via the internet in both industrialized and emerging nations. Furthermore, rising consumer expenditure on new technologies is expected to fuel the bot service industry.
Healthcare practitioners are constantly collaborating with bot service firms to better serve patients. As per NCBI, people spend around 30 minutes on aggregate determining the appropriate services that their local hospitals can give, while the typical nurse spends one hour per day attempting to connect with the appropriate clinician. Patients may use bot services to obtain answers to queries regarding their medical records, insurance, reimbursements, and even small health problems through their portable devices and desktop computers. Furthermore, healthcare practitioners are actively involving their patients via these solutions in current in-patient surgeries and chronic disorders including diabetes, heart disease, arthritis, and others. Furthermore, healthcare corporations including GYAN, Apollo, CVS Health Corp, Cardinal Health Inc, and others are substantially engaging in these solutions.
Furthermore, strong participation on different social media platforms, along with the growing implementation of natural language analysis techniques, is expected to favorably affect the worldwide market throughout the projection period. In September 2022, for example, akaBot, a rising robotics solutions provider in the Asia Pacific area, a company of FPT software, and a worldwide no-code enterprise WEM paired with enabling more complex and smart Invoicing Automation Applications.
Machines cannot answer complicated inquiries and can only reply to discussions to the degree that they have been trained to do so. If there are any extra inquiries or questions for which bots are not supplied information, they will be unable to assist clients, which will have a detrimental effect on the customer experience. When the robots do not comprehend a query, they return repeating responses to the same inquiries worded differently. This irritates consumers and hinders businesses' uptake of services.
Geographically, within the projected period, North America is likely to lead the worldwide Bot Services industry. Collaboration is driving the area, while AI chatbot breakthroughs are driving considerable industry investment. Mindsay, for example, introduced AI Chatbots on Genesys AppFoundry in April 2021. By linking Mindsaychatbots to Genesys Cloud, dealers will be able to instantly engage and leave discussions with clients via the chatbot interface, promptly answering requests 24/7.
Furthermore, a considerable percentage of interactions are speech-based, originating via the phone system, and industry telecom suppliers are capitalizing on these prospects by providing voice and phone connectivity to chatbots. For example, Interactive Media, a leading producer of telecoms technology, Conversational AI, and user experience apps, confirmed the availability of PhoneMyBot in December 2020. The internet solution provides speech and phone access to chatbots.
Moreover, the Asia Pacific area is expected to develop at the quickest rate during the projected timeline, owing to high industrialization as well as rapid urbanization in emerging markets such as China, India, and Brazil, as well as rapid expansion in the IT sector, which are likely to be the significant factors expected to boost geographic industry expansion in the coming years. Furthermore, the introduction of numerous e-commerce platforms, including Amazon and Flipkart, has contributed significantly to industry expansion.
Middle East and Africa
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 0.70 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 4.56 Billion
|Tables, Charts & Figures:
|IBM Corporation, Microsoft, Amazon Web Services, Inc., FACEBOOK, Nuance Communications, Inc., Inbenta Technologies Inc., Aspect Software, Inc., CogniCor Technologies., Creative Virtual Ltd., Botsify., Smooch Technologies ULC., Teneo, Next IT Corp., eGain Corporation., Kore.ai, Inc., Rasa Technologies Inc, Amelia US LLC, and Pypestream Inc.
|By Deployment, By Mode Type, By End-User.
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa
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