HOME Research Insight New Product Developments, Acquisitions, Partnerships, Agreements, Collaborations, and Business Expansions, to Cater to the Bot Services Market.

New Product Developments, Acquisitions, Partnerships, Agreements, Collaborations, and Business Expansions, to Cater to the Bot Services Market.

The bot services market includes bot framework and bot platform service providers. Businesses are implementing bot services on various channels for better customer engagement. Using bot services, enterprises can engage with users on various channels for resolving customer queries and offering enhanced customer support. The deployment of bots on websites, contact centers, social media platforms, and mobile apps would help businesses improve the customer experience and accelerate the business processes. Bot services have a range of use cases in different end-user verticals, such as banking, finance, retail, healthcare, travel, education, and government. The bot services market has been segmented on the basis of services, deployment channels, modes, end-user verticals, and regions. MarketsandMarkets forecasts the global bot services market to grow from USD 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 bot services market across the globe.

The key players in the bot services market include 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 players have adopted various strategies, such as new product developments, acquisitions, partnerships, agreements, collaborations, and business expansions, to cater to the bot services market.

Microsoft is one of the leading vendors in the bot services market. The company offers a full-fledged bot framework for developers and enterprises to build smart and intelligent bots, which can be deployed over various channels, such as social media platforms, websites, and mobile applications. The Microsoft bot framework has been used by approximately 130,000 developers across the globe. In June 2016, Microsoft acquired Wand Labs, a US-based messaging app developers’ firm. This acquisition is expected to strengthen the position of Microsoft in conversational AI. Additionally, it would also help developers build more intelligent mobile apps and bots.

Google offers bot services to the enterprises via the API.AI platform. Google entered the bot services market by acquiring the API.AI platform, a conversational platform for building bots, applications, and services. The API.AI platform helps developers build text and voice-based conversational applications. The platform has a wide range of functionalities, which include NLU, speech recognition, and a robust management toolset. End-users can integrate conversational applications or bots on various channels, such as Skype, Cortana, Facebook, Line, Kik, Slack, Cisco Spark, Telegram, and Twilio, using the API.AI platform In May 2017, the company launched Chatbase, an analytics platform for developers to improve the performance of the bots.   

Related 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

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