Bot Services Market Size, Share, Trends and Growth - 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

Report Code: TC 5580 Sep, 2017, by marketsandmarkets.com

[138 Pages Report] 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

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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). These Bot Services Vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy. Please visit 360Quadrants to see the vendor listing of Bot Services.

Key Target Audience For Bot Service Market

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

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Scope of the Report

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

Bot Service Market 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)

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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Table of Contents

1 Introduction (Page No. - 14)
    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. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 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. - 25)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in Bot Services Market (2017-2022)
    4.2 Bot Services Market: Top Three Deployment Channels (2017-2022)
    4.3 Global Bot Services Market, By End-User Vertical and Region, 2017
    4.4 Global Bot Services Market, By Region (2017-2022)

5 Market Overview (Page No. - 32)
    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 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 Accuracy Levels Below End-User Expectations
                    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. - 37)
    6.1 Introduction
    6.2 Framework
           6.2.1 Natural Language Processing (NLP)
           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. - 42)
    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. - 47)
    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. - 53)
    9.1 Introduction
    9.2 Banking, Financial Services, and Insurance (BFSI)
           9.2.1 Use Case: Personal Banking Assistant to Help Clients in Deciding on 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 Frequency of Calls on Police Helpline Number
    9.4 Real Estate
           9.4.1 Use Case: Real-Time Updates 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 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
    9.10 Healthcare
           9.10.1 Use Case: Electronic Health and Medical Record
    9.11 Others

10 Geographic Analysis (Page No. - 66)
     10.1 Introduction
     10.2 North America
             10.2.1 North America: Bot Services Market Analysis, By Service
             10.2.2 North America: Bot Services Market Analysis, By Mode
             10.2.3 North America: Bot Services Market Analysis, By Deployment Channel
             10.2.4 North America: Bot Services Market Analysis, By End-User Vertical
             10.2.5 North America: Bot Services Market Analysis, By Country
     10.3 Europe
             10.3.1 Europe: Bot Services Market Analysis, By Service
             10.3.2 Europe: Bot Services Market Analysis, By Mode
             10.3.3 Europe: Bot Services Market Analysis, By Deployment Channel
             10.3.4 Europe: Bot Services Market Analysis, By End-User Vertical
             10.3.5 Europe: Bot Services Market Analysis, By Country
     10.4 APAC
             10.4.1 APAC: Bot Services Market Analysis, By Service
             10.4.2 APAC: Bot Services Market Analysis, By Mode
             10.4.3 APAC: Bot Services Market Analysis, By Deployment Channel
             10.4.4 APAC: Bot Services Market Analysis, By End-User Vertical
             10.4.5 APAC: Bot Services Market Analysis, By Country
     10.5 Middle East and Africa (MEA)
             10.5.1 MEA: Bot Services Market Analysis, By Service
             10.5.2 MEA: Bot Services Market Analysis, By Mode
             10.5.3 MEA: Bot Services Market Analysis, By Deployment Channel
             10.5.4 MEA: Bot Services Market Analysis, By End-User Vertical
             10.5.5 MEA: Bot Services Market Analysis, By Country
     10.6 Latin America
             10.6.1 Latin America: Bot Services Market Analysis, By Service
             10.6.2 Latin America: Bot Services Market Analysis, By Mode
             10.6.3 Latin America: Bot Services Market Analysis, By Deployment Channel
             10.6.4 Latin America: Bot Services Market Analysis, By End-User Vertical
             10.6.5 Latin America: Bot Services Market Analysis, By Country

11 Competitive Landscape (Page No. - 87)
     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 (26 Players)
             11.2.2 Business Strategy Excellence (26 Players)

12 Company Profiles (Page No. - 91)
(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. - 129)
     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 Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 2 Global Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 3 Global Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 4 Global Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 5 Global Bot Services 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: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 8 Platform: Bot Services 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: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 11 Audio: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 12 Video: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 13 Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 14 Websites: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 15 Contact Center and Customer Service: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 16 Social Media: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 17 Mobile Applications: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 18 Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 19 BFSI: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 20 Government: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 21 Real Estate: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 22 Media and Entertainment: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 23 Telecom: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 24 Retail and Ecommerce: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 25 Education: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 26 Travel and Hospitality: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 27 Healthcare: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 28 Others: Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 29 Bot Services Market Size, By Region, 2015�2022 (USD Million)
Table 30 North America: Bot Services Market Size and Growth Rate, 2015�2022 (USD Million, Y-O-Y %)
Table 31 North America: Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 32 North America: Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 33 North America: Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 34 North America: Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 35 North America: Bot Services 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: Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 38 Europe: Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 39 Europe: Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 40 Europe: Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 41 Europe: Bot Services Market Size, By Country, 2015�2022 (USD Million)
Table 42 APAC: Bot Services Market Size and Growth Rate, 2015�2022 (USD Million, Y-O-Y %)
Table 43 APAC: Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 44 APAC: Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 45 APAC: Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 46 APAC: Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 47 APAC: Bot Services Market Size, By Country, 2015�2022 (USD Million)
Table 48 MEA: Bot Services Market Size and Growth Rate, 2015�2022 (USD Million, Y-O-Y %)
Table 49 MEA: Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 50 MEA: Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 51 MEA: Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 52 MEA: Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 53 MEA: Bot Services Market Size, By Country, 2015�2022 (USD Million)
Table 54 Latin America: Bot Services Market Size and Growth Rate, 2015�2022 (USD Million, Y-O-Y %)
Table 55 Latin America: Bot Services Market Size, By Service, 2015�2022 (USD Million)
Table 56 Latin America: Bot Services Market Size, By Mode, 2015�2022 (USD Million)
Table 57 Latin America: Bot Services Market Size, By Deployment Channel, 2015�2022 (USD Million)
Table 58 Latin America: Bot Services Market Size, By End-User Vertical, 2015�2022 (USD Million)
Table 59 Latin America: Bot Services Market Size, By Country, 2015�2022 (USD Million)
Table 60 Players Ranking in Bot Services Market, 2017

List of Figures (39 Figures)

Figure 1 Global Bot Services Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Bot Services Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 APAC Bot Services Market to Record Highest CAGR During Forecast Period
Figure 9 North America to Hold Largest Share in Global Bot Services Market in 2017
Figure 10 Bot Services Market Share, By Service, 2017
Figure 11 Bot Services Market Share, By Mode, 2017
Figure 12 Bot Services Market Share, By Deployment Channel, 2017
Figure 13 Increased Demand for Feature Phones and Highly Advanced AI & NLP Tools to Drive Market Growth
Figure 14 Social Media Segment to Record Highest CAGR During Forecast Period (USD Million)
Figure 15 BFSI Vertical and North America to Hold Largest Market Shares
Figure 16 APAC to Register Highest CAGR During Forecast Period (USD Million)
Figure 17 Bot Services Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Bot Services Market: Ecosystem
Figure 19 Bot Services Market: Deployment Channels
Figure 20 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 21 Video Segment to Record Highest CAGR During Forecast Period (USD Million)
Figure 22 Social Media Segment to Record Highest CAGR During Forecast Period (USD Million)
Figure 23 BFSI End-User Vertical to Record Highest CAGR During Forecast Period (USD Million)
Figure 24 APAC Bot Services Market to Record Highest CAGR During Forecast Period
Figure 25 APAC to Hold Largest Market Share During Forecast Period (USD Million)
Figure 26 North America: Bot Services Market Snapshot
Figure 27 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 28 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 29 APAC: Bot Services Market Snapshot
Figure 30 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 31 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 32 Platform Segment to Record Higher CAGR During Forecast Period (USD Million)
Figure 33 Bot Services Market (Global), Competitive Leadership Mapping, 2017
Figure 34 Microsoft: Company Snapshot
Figure 35 IBM: Company Snapshot
Figure 36 Facebook: Company Snapshot
Figure 37 Google: Company Snapshot
Figure 38 Amazon Web Services: Company Snapshot
Figure 39 Nuance Communications: Company Snapshot

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