HOME Top Market Reports Bot Services Market by Service (Framework and Platform), Deployment Channel (Websites, Contact Center and Customer Service, and Social Media), Mode (Text and Rich Media, Audio, and Video), End-User Vertical, and Region - Global Forecast to 2022

Bot Services Market by Service (Framework and Platform), Deployment Channel (Websites, Contact Center and Customer Service, and Social Media), Mode (Text and Rich Media, Audio, and Video), End-User Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: September 2017
Report Code: TC 5580

 

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The global bot services market accounted for USD 356.8 Million in 2016 and is projected to reach USD 1,783.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 31.2% during the forecast period. The base year considered for the study is 2016, and the forecast period under consideration is 2017–2022.

The objective of the report is to define, describe, and forecast the bot services market size on the basis of services, deployment channels, modes, end-user verticals, and regions. The report aims to provide detailed information regarding the key factors (drivers, restraints, opportunities, and challenges) influencing the market growth, and it tracks and analyzes the market scenario on the basis of the technological developments, product launches, and mergers and acquisitions related to the bot services market. The report also forecasts the market size of the different market segments with respect to the 5 major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

This research study involves the extensive use of secondary sources, directories, and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, to identify and collect information useful for the technical, market-oriented, and commercial aspects of the bot services market.

The research methodology used to estimate and forecast the bot services market began with the capturing of data on the key vendor revenues through secondary research. Vendor offerings were also taken into consideration to determine the market segmentations. The bottom-up procedure was employed to arrive at the overall market size of the market from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), Chief Marketing Officers (CMOs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments. The breakdown of the primary profiles is depicted in the below figure:

Bot Services Market

To know about the assumptions considered for the study, download the pdf brochure

Some of the major vendors in the bot services market are Microsoft (US), IBM (US), Facebook (US), Google (US), Amazon Web Services (US), Nuance Communications (US), Aspect Software (US), Inbenta Technologies (US), Creative Virtual (UK), IPsoft (US), 24/7 Customer (US), CogniCor Technologies (Spain), Astute Solutions (US), Gupshup (US), Next IT Corp. (US), Kore.ai (US), Rasa Technologies GmbH (Germany), Pypestream (US), Avaamo (US), Pandorabots (US), LogMeIn (US), Artificial Solutions (Spain), Botego (Turkey), Chatfuel (US), Webio (Ireland), and Do You Dream Up (France).

Key Target Audience

  • Business organizations
  • Bot framework providers
  • Bot platform providers
  • Cloud service providers
  • Research organizations
  • Investors and venture capitalists
  • System integrators
  • Value-Added Resellers (VARs) and distributors
  • Service professionals
  • Government authorities/non-profit associations
  • Compliance regulatory authorities

Scope of the Report

The bot services market report is broadly segmented into the following services, deployment channels, modes, end-user verticals, and regions.

By Service

  • Framework
  • Platform

By Deployment Channel 

  • Websites
  • Contact Center and Customer Service
  • Social Media
  • Mobile Applications

By Mode

  • Text and Rich Media
  • Audio
  • Video

By End-User Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Retail and eCommerce
  • Healthcare
  • Media and Entertainment
  • Telecom
  • Government
  • Education
  • Travel and Hospitality
  • Real Estate
  • Others (utilities, recruitment portals, and automotive)

By Region

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations based on company-specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the APAC market into the countries contributing 75% of the regional market size
  • Further breakdown of the North American market into countries contributing 75% of the regional market size
  • Further breakdown of the Latin American market into countries contributing 75% of the regional market size
  • Further breakdown of the MEA market into countries contributing 75% of the regional market size
  • Further breakdown of the European market into countries contributing 75% of the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Assumptions
           2.3.2 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Bot Services Market
    4.2 Top 3 Deployment Channels
    4.3 Bot Services Market, By End-User Vertical and Deployment Channel
    4.4 Bot Services Potential

5 Market Overview (Page No. - 33)
    5.1 Market Dynamics
           5.1.1 Drivers
                    5.1.1.1 Increasing User Engagement on Social Media Platforms
                    5.1.1.2 Highly Advanced AI and NLP Tools Bolstering the Market Growth
           5.1.2 Restraints
                    5.1.2.1 Dependency on Deployment Platforms for Bots
           5.1.3 Opportunities
                    5.1.3.1 Increasing Demand for Feature Phones
                    5.1.3.2 High Growth of Social Media Platforms
                    5.1.3.3 Growing Partnerships and Widening Ecosystem
           5.1.4 Challenges
                    5.1.4.1 Limited Accuracy as Expected By End-Users
                    5.1.4.2 Lack of Awareness and Reluctance to Use Bots
    5.2 Ecosystem Analysis
    5.3 Deployment Channels

6 Bot Services Market Analysis, By Service (Page No. - 38)
    6.1 Introduction
    6.2 Framework
           6.2.1 Natural Language Processing
           6.2.2 Machine Learning
           6.2.3 Artificial Neural Network
           6.2.4 Bot Analytics
    6.3 Platform

7 Bot Services Market Analysis, By Mode (Page No. - 43)
    7.1 Introduction
    7.2 Text and Rich Media
    7.3 Audio
    7.4 Video

8 Bot Services Market Analysis, By Deployment Channel (Page No. - 48)
    8.1 Introduction
    8.2 Websites
    8.3 Contact Center and Customer Service
    8.4 Social Media
    8.5 Mobile Applications

9 Bot Services Market Analysis, By End-User Vertical (Page No. - 54)
    9.1 Introduction
    9.2 Banking, Financial Services, and Insurance
           9.2.1 Use Case: Personal Banking Assistant to Help Clients in Deciding Investment Plans
           9.2.2 Use Case: Insurance Opting and Renewal Options With Quick Assistance at Any Given Time
    9.3 Government
           9.3.1 Use Case: Reduction in the Frequency of Call on the Police Helpline Number
    9.4 Real Estate
           9.4.1 Use Case: Real-Time Update of Property Rates and Availability
    9.5 Media and Entertainment
           9.5.1 Use Case: Ticket Bookings and Entertainment Related Blogs
    9.6 Telecom
           9.6.1 Use Case: Augmented Customer Service Related to Network and Billing Instances
    9.7 Retail and Ecommerce
           9.7.1 Use Case: Ease of Access for the Buyers to Place and Replace Orders
    9.8 Education
           9.8.1 Use Case: Smart Education System
    9.9 Travel and Hospitality
           9.9.1 Use Case: Easy Flight Bookings With Real-Time Updates
    9.1 Healthcare
           9.10.1 Use Case: Electronic Health and Medical Record
    9.11 Others

10 Geographic Analysis (Page No. - 67)
     10.1 Introduction
     10.2 North America
             10.2.1 North America: Market Analysis, By Service
             10.2.2 North America: Market Analysis, By Mode
             10.2.3 North America: Market Analysis, By Deployment Channel
             10.2.4 North America: Market Analysis, By End-User Vertical
             10.2.5 North America: Market Analysis, By Country
     10.3 Europe
             10.3.1 Europe: Market Analysis, By Service
             10.3.2 Europe: Market Analysis, By Mode
             10.3.3 Europe: Market Analysis, By Deployment Channel
             10.3.4 Europe: Market Analysis, By End-User Vertical
             10.3.5 Europe: Market Analysis, By Country
     10.4 Asia Pacific
             10.4.1 Asia Pacific: Bot Services Market Analysis, By Service
             10.4.2 Asia Pacific: Market Analysis, By Mode
             10.4.3 Asia Pacific: Market Analysis, By Deployment Channel
             10.4.4 Asia Pacific: Market Analysis, By End-User Vertical
             10.4.5 Asia Pacific: Market Analysis, By Country
     10.5 Middle East and Africa
             10.5.1 Middle East and Africa: Bot Services Market Analysis, By Service
             10.5.2 Middle East and Africa: Market Analysis, By Mode
             10.5.3 Middle East and Africa: Market Analysis, By Deployment Channel
             10.5.4 Middle East and Africa: Market Analysis, By End-User Vertical
             10.5.5 Middle East and Africa: Market Analysis, By Country
     10.6 Latin America
             10.6.1 Latin America: Bot Services Market Analysis, By Service
             10.6.2 Latin America: Market Analysis, By Mode
             10.6.3 Latin America: Market Analysis, By Deployment Channel
             10.6.4 Latin America: Market Analysis, By End-User Vertical
             10.6.5 Latin America: Market Analysis, By Country

11 Competitive Landscape (Page No. - 89)
     11.1 Microquadrant Overview
             11.1.1 Visionary Leaders
             11.1.2 Innovators
             11.1.3 Dynamic Differentiators
             11.1.4 Emerging Companies
     11.2 Competitive Benchmarking
             11.2.1 Strength of Product Portfolio Adopted By Major Players in the Market (26 Players)
             11.2.2 Business Strategy Excellence Adopted By Major Players in the Market (26 Players)

12 Company Profiles (Page No. - 93)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     12.1 Microsoft
     12.2 IBM
     12.3 Facebook
     12.4 Google
     12.5 Amazon Web Services
     12.6 Nuance Communications
     12.7 Aspect Software
     12.8 Inbenta Technologies
     12.9 Creative Virtual
     12.10 24/7 Customer
     12.11 Cognicor Technologies
     12.12 Astute Solutions

*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 131)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (60 Tables)

Table 1 Global Market Size, By Region, 2015–2022 (USD Million)
Table 2 Global Market Size, By Service, 2015–2022 (USD Million)
Table 3 Global Market Size, By Mode, 2015–2022 (USD Million)
Table 4 Global Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 5 Global Market Size, By End-Use Vertical, 2015–2022 (USD Million)
Table 6 Bot Services Market Size, By Service, 2015–2022 (USD Million)
Table 7 Framework: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Platform: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Bot Services Market Size, By Mode, 2015–2022 (USD Million)
Table 10 Text and Rich Media: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Audio: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Video: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Bot Services Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 14 Websites: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Contact Center and Customer Service: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Social Media: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Mobile Applications: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Bot Services Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 19 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Government: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Real Estate: Market Size, By Region, 2015–2022 (USD Million)
Table 22 Media and Entertainment: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Telecom: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Retail and Ecommerce: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Education: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Travel and Hospitality: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Healthcare: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Bot Services Market Size, By Region, 2015–2022 (USD Million)
Table 30 North America: Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 31 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 32 North America: Market Size, By Mode, 2015–2022 (USD Million)
Table 33 North America: Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 34 North America: Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 35 North America: Market Size, By Country, 2015–2022 (USD Million)
Table 36 Europe: Bot Services Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 37 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 38 Europe: Market Size, By Mode, 2015–2022 (USD Million)
Table 39 Europe: Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 40 Europe: Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 41 Europe: Market Size, By Country, 2015–2022 (USD Million)
Table 42 Asia Pacific: Bot Services Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 43 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 44 Asia Pacific: Market Size, By Mode, 2015–2022 (USD Million)
Table 45 Asia Pacific: Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 46 Asia Pacific: Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 47 Asia Pacific: Market Size, By Country, 2015–2022 (USD Million)
Table 48 Middle East and Africa: Bot Services Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 49 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 50 Middle East and Africa: Market Size, By Mode, 2015–2022 (USD Million)
Table 51 Middle East and Africa: Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 52 Middle East and Africa: Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 53 Middle East and Africa: Market Size, By Country, 2015–2022 (USD Million)
Table 54 Latin America: Market Size and Growth Rate, 2015–2022 (USD Million, Y-O-Y %)
Table 55 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 56 Latin America: Market Size, By Mode, 2015–2022 (USD Million)
Table 57 Latin America: Market Size, By Deployment Channel, 2015–2022 (USD Million)
Table 58 Latin America: Market Size, By End-User Vertical, 2015–2022 (USD Million)
Table 59 Latin America: Market Size, By Country, 2015–2022 (USD Million)
Table 60 Market Ranking for Bot Services Market, 2017
 
 
List of Figures (38 Figures)
 
Figure 1 Global Bot Services Market Segmentation
Figure 2 Regional Scope
Figure 3 Bot Services Market: Research Design
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Asia Pacific is Expected to Grow at the Highest CAGR During, the Forecast Period
Figure 8 North America Had the Largest Market Share in 2017
Figure 9 Bot Services Market Share, By Service, 2017
Figure 10 Bot Services Market Share, By Mode, 2017
Figure 11 Bot Services Market Share, By Deployment Channel, 2017
Figure 12 The Global Bot Services Market is Expected to Grow at A Significant CAGR During the Forecast Period
Figure 13 Social Media Segment is Expected to Grow at the Highest CAGR, During the Forecast Period
Figure 14 Banking, Financial Services, and Insurance, and Social Media are Estimated to Hold the Largest Market Shares in the Bot Services Market in 2017
Figure 15 Asia Pacific is Expected to Grow at the Highest CAGR During, the Forecast Period
Figure 16 Bot Services Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Bot Services Market: Ecosystem
Figure 18 Bot Services Market: Deployment Channels
Figure 19 Platform Segment is Expected to Grow at the Higher CAGR During, the Forecast Period
Figure 20 Video Segment is Expected to Grow at the Highest CAGR During, the Forecast Period
Figure 21 Social Media Segment is Expected to Grow at the Highest CAGR, During the Forecast Period
Figure 22 Banking, Financial Services, and Insurance End-User Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Asia Pacific is Expected to Grow at Highest CAGR in the Global Bot Services Market During the Forecast Period
Figure 24 Asia Pacific is Expected to Have the Largest Market Share During, the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 Platform Segment in North America is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 27 Platform Segment in Europe is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Platform Segment in Asia Pacific is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 30 Platform Segment in Middle East and Africa is Expected to Grow, at the Higher CAGR During the Forecast Period
Figure 31 Platform Segment in Latin America is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 32 Bot Services Market (Global), Competitive Leadership Mapping, 2017
Figure 33 Microsoft: Company Snapshot
Figure 34 IBM: Company Snapshot
Figure 35 Facebook: Company Snapshot
Figure 36 Google: Company Snapshot
Figure 37 Amazon Web Services: Company Snapshot
Figure 38 Nuance Communications: Company Snapshot 

MarketsandMarkets forecasts the global bot services market size to grow from 458.4 Million in 2017 to USD 1,783.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 31.2%. Increasing user engagement on social media platforms and highly advanced Artificial Intelligence (AI) and Natural Language Processing (NLP) tools are boosting the growth of the market across the globe.

The objective of the report is to define, describe, and forecast the bot services market size on the basis of services, deployment channels, modes, end-user verticals, and regions. Among the services, the platform segment is expected to have a higher growth rate in the bot services market during the forecast period. Bot platforms are in huge demand, due to the wide range of features and functionalities offered by them and the ease of availability. The growth of the platform segment is driven by the rise in the adoption of bot services by small, medium, and large enterprises.

By mode, the text and rich media segment is expected to have the largest market share during the forecast period. Text and rich media is an efficient mode for consumers to interact with bots. The factors driving the growth of the text and rich media segment include the increasing number of social media users and the advancements in NLP, AI, and machine-learning technologies. Additionally, text bots are more adaptable and functional, in terms of scalability. Therefore, users can easily interact with bots via texts on messengers, social media platforms, Interactive Video Response (IVR), websites, and mobile applications.

Among the end-user verticals, the government segment is estimated to have the second largest market share in the bot services market in 2017, after the Banking, Financial Services, and Insurance (BFSI) segment. In the government sector, digital-first customer engagement strategies are significantly gaining traction across the globe. Governments across all regions have implemented the omnichannel strategy to fulfill citizens’ needs by serving them through bot services on various channels. Consequently, bot services have changed the landscape of the government vertical by offering a personalized experience and instant services.

Bot Services Market

North America is expected to have the largest market share in the bot services market during the forecast period, owing to the early adoption of technology and the presence of a large number of bot services providers. The region represents one of the well-defined and controlled economies in terms of Gross Domestic Product (GDP), technology infrastructure, and technological advancements. Enterprises in the US and Canada have willingly adopted bot services to engage with their customers. The growing number of social media users is expected to drive the growth of the bot services market in the APAC region.

Innovative technological developments are benefiting all stakeholders in the bot services market. However, the limited accuracy of bot services and the lack of awareness and reluctance to use bot services may act as challenges to the growth of the market.

The major vendors in the bot services market are Microsoft (US), IBM (US), Facebook (US), Google (US), Amazon Web Services (US), Nuance Communications (US), Aspect Software (US), Inbenta Technologies (US), Creative Virtual (UK), IPsoft (US), 24/7 Customer (US), CogniCor Technologies (Spain), Astute Solutions (US), Gupshup (US), Next IT Corp. (US), Kore.ai (US), Rasa Technologies GmbH (Germany), Pypestream (US), Avaamo (US), Pandorabots (US), LogMeIn (US), Artificial Solutions (Spain), Botego (Turkey), Chatfuel (US), Webio (Ireland), and Do You Dream Up (France).

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