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

  • ID: 4395655
  • Report
  • Region: Global
  • 140 Pages
  • Markets and Markets
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The global bot services market size is expected 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%.

FEATURED COMPANIES

  • 24/7 Customer
  • Aspect Software
  • Cognicor Technologies
  • Facebook
  • IBM
  • Microsoft
  • MORE

“Increasing user engagement on social media channels is driving the growth of the bot services market.”

The global bot services market size is expected 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%. The proliferation of millennial across social media channels and the use of Artificial Intelligence (AI), Natural Language Processing (NLP), machine learning, and analytics tools in the bot ecosystem are the major factors driving the growth of the bot services market. However, the dependency on deployment platforms for bots may hinder the growth of the bot services market.

“The social media deployment channel is expected to record the highest growth rate in the bot services market during the forecast period.”

Among the deployment channels, the social media segment is a high-growth segment in the bot services market. Consumers across various social media platforms are increasing at an unprecedented rate. Social media platforms are easy communication channels for businesses to interact with their customers. Enterprises are widely implementing bot services on platforms, such as Facebook Messenger, Kik, Telegram, WeChat, Skype, and Twitter, to engage with customers and provide a personalized experience for different tasks.

“In terms of growth rate, the Banking, Financial Services, and Insurance (BFSI) end-user vertical is expected to dominate the bot services market during the forecast period.”

Among the end-user verticals, the BFSI segment is expected to grow at the highest CAGR during the forecast period. The BFSI segment commands the bulk share in the bot services market, as the availability of mobile devices, such as smartphones and tablets, has made it easy for the BFSI stakeholders to deploy bot services on various platforms, such as websites, contact centers, and social media channels, to interact with customers. Some of the major applications of bot services in the BFSI sector include account management, customer alerts and reminders, credit and loan application updates, branch and Automatic Teller Machine (ATM) locators, financial advisors, insurance applications, and customer surveys.

“The Asia Pacific (APAC) region is expected to witness the highest growth rate in the bot services market during the forecast period.”

APAC is expected to witness the highest growth rate in the bot services market during the forecast period, owing to the large-scale implementation of bot services across various end-user verticals, such as banking, government, and travel. Enterprises in China, India, Australia, and Japan have deployed bot services on websites and social media platforms to interact with the customers. The penetration of smartphones and the growing number of social media users are the primary factors that have propelled the growth of the bot services market in the APAC region.

In the process of determining and verifying the market size of the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants is given below:

  • By Company: Tier 1 - 18%, Tier 2 - 48%, and Tier 3 - 34%
  • By Designation: C-Level - 22%, D-Level - 43%, and Others - 35%
  • By Region: North America - 42%, Europe, Middle East, and Africa (EMEA) - 32%, and APAC - 26 %

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).  
 
Research Coverage

The global bot services market has been segmented on the basis of services, deployment channels, modes, end-user verticals, and regions. A detailed analysis of the key market players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, expansions, and the competitive landscape associated with the bot services market.

The report will help the market leaders/new entrants in the following ways:

  • The report segments the bot services market comprehensively and provides the closest approximations of the revenue numbers for the overall market segments and subsegments across different regions.
  • The report helps stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
  • The report helps stakeholders better understand their competitors and gain more insights to improve their position in the market. The competitive landscape section includes the MicroQuadrant matrix, wherein 26 players have been placed in 4 quadrants, namely, visionary leaders, dynamic differentiators, innovators, and emerging companies, based on the companies’ product offerings and business strategies.
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FEATURED COMPANIES

  • 24/7 Customer
  • Aspect Software
  • Cognicor Technologies
  • Facebook
  • IBM
  • Microsoft
  • MORE

1 Introduction
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
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

4 Premium Insights
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
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
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
7.1 Introduction
7.2 Text and Rich Media
7.3 Audio
7.4 Video

8 Bot Services Market Analysis, By Deployment Channel
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
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
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
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
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

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of 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
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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  • Microsoft
  • IBM
  • Facebook
  • Google
  • Amazon Web Services
  • Nuance Communications
  • Aspect Software
  • Inbenta Technologies
  • Creative Virtual
  • 24/7 Customer
  • Cognicor Technologies
  • Astute Solutions
Note: Product cover images may vary from those shown
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