Bot Services Market, By Type (Framework and Platform), By Application (Banking, Financial Services, & Insurance (BFSI), Retail & ecommerce, Healthcare, Government, and Travel & Hospitality), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Introduction

Bot Service Market provide the ability to add intelligent agents capable of conversation without tying up resources to develop their own AI, Services Websites, Apps, Email, GroupMe, Facebook Messenger, Kik, Skype, Slack, Microsoft, Teams, Telegram, SMS, Twilio, Cortana and for business Skype. Bots are computer programs designed to perform certain repetitive tasks without the need for human intervention. Bots were developed to relieve people of their responsibilities, by performing certain tasks faster and more efficiently than humans are capable of. Bots are essentially pieces of software that operate over a network, often the Internet. To identify problems to address, they interact with other bots, web pages, and even people. As for the classification of bots, we can separate them into two groups: good bots and malicious bots. "Good bot" is a term used to describe bots that help users and offer honest service. Malicious or nasty bot are those that engage in illegal and often unethical behavior. Microsoft Bot Framework and Azure Bot Service is a collection of libraries and Azure Bot Service is a collection of libraries, tools, and services that let you build, test, deploy, and manage intelligent bots. The bot framework includes a modular and extensible SDK for building bots and connecting them to AI services. Azure Bot Service provides an integrated development environment for bot building, its integration with Power Virtual Agents, fully hosted; the low-code platform enables developers of all technical abilities to build conversational AI bots __ no code required. Increasing adoption of online and internet-based services among end-users will drive market growth, increasing consumer spending on industrial sectors to outsource advanced technologies and solutions, is expected to fuel bot services market growth. Increasing demand for feature phones and incorporation of advanced AI and NLP techniques are some of the factors contributing to the growth of the bot services market.

Attributes	Details
Bot Services Market Value (2022)	US$ 2.1 Bn
Bot Services Market Projected  Value(2032)	US$ 20.9 Bn
Bot Services Market CAGR (2022-2032)	27.6%

                    

The increasing global adoption of Internet and online services is one of the major factors driving the growth of the BOT services industry, and the growing number of adoptions in Internet and online services worldwide has led to the demand for bot services. The market expansion is fueled by the availability of a wide range of tools and platforms for service providers to build and operate bot services, as well as the increasing use of bots in several industries, including BFSI and e-commerce. Growing demand for feature phones as well as adoption of sophisticated AI and NLP techniques impact the business. Growing investment, increasing demand for better services, digitization and urbanization benefit the BOT services sector. Lack of awareness about the benefits of bot services among small and medium enterprises as well as budget constraints for advanced technologies are expected to hamper the market growth.

 Technological advancement

Adoption of advanced technologies such as machine learning and artificial intelligence for customer services is expected to create better business and revenue opportunities for the service providers of bot services and increasing implementation of advanced technologies such as adoption of web, AI and cloud based technologies to drive market growth. Manufacturers involved in the bot services market are developing advanced versions of their products due to new age technological advancements. Major bot services players are investing more in power systems and creating more modern, time-saving, cost-effective technologies that have a positive impact on the bot services market.  In December 2022, ChatGPT is a new artificial intelligence tool designed to help people interact with computers in a more natural and intuitive way using natural language processing technology.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

The Bot Services Market is segmented based on type, application, and region.

Bot Services Market, By Type

On the basis of type, the bot services market is segmented into frameworks and platforms, on the basis of type, bot frameworks include modular and extensible SDKs for building bots and connecting them to AI services, with this framework, developers can create bots that use speech, understand natural language and answer questions and more. At their core, chatbot platforms are used to stimulate human-to-human conversations and help provide information to website visitors or application users, they exchange web visitors or customers online via text-to-speech.

Bot Services Market, By Application

On the basis of application, the target market is classified into Banking, Financial Services, & Insurance (BFSI), Retail & ecommerce, Healthcare, Government, and Travel & Hospitality, In banking, automated notifications and reminders, in recent times various banks are using conversational AI chatbots to send timely notifications and reminders to customers, using financial bots you can remind customers of their upcoming due dates for their loans, pending payments, their credit scores, etc. Ecommerce chatbots are computer programs that interact with website users in real time, providing customer service, answering questions, recommending products, collecting feedback, and tracking engagement. Bot services are mainly used in the retail market due to increased application of online retail and increase in consumer demand.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the Bot Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the bot services market, North America is expected to hold the largest market share. One of the main reasons supporting the growth of the bot services market in North America is the rapid discovery and advancement of AI technology in this sector. The expansion of the market in North America is expected to be further boosted by the growing number of bot service providers in the region.

Report Scope:

Attribute	Details
Base year for estimation	2022
Forecast period	2022 – 2032
Market representation	Revenue in USD Billion & CAGR from 2022 to 2032
Market Segmentation	By Type – Framework and Platfor By Application – Banking, Financial Services, & Insurance (BFSI), Retail & eCommerce, Healthcare, Government, and Travel & Hospitality
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Bot Services Market report based on type, application, and region:

Bot Services Market, By Type:

• Platform
• Services

Bot Services Market, By Application:

• Banking
• Financial Services, & Insurance (BFSI)
• Retail & eCommerce,
• Healthcare
• Government
• Travel & Hospitality

Bot Services Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating the Bot Services Market includes

• ServisBOT is an interactive AI platform that provides messaging solutions, services like employee engagement, orchestration, call deflection, automation, customer acquisition and more. The company serves the banking, insurance, travel, energy and utilities sectors.
• Google LLC, Alphabet Inc. A subsidiary of, a provider of search and advertising services on the Internet, the company focuses on business areas such as advertising, search, platforms and operating systems, and enterprise and hardware products. Its portfolio of products and services includes Google Search, Google Drive, Google Finance, Google Play, AdMob, Google Maps, AdSence, Gmail, Google Groups and YouTube.
• Amazon Web Services, Inc. It is a global provider of on-demand cloud computing platforms and industrial APIs for various industries, the company offers managed cloud platform solutions and services in the AWS IoT segment for all connected devices to communicate with cloud applications.
• Nuance Communications, Inc. A pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life, the company delivers solutions that understand, analyze and respond to human language, enhancing human intelligence. Nuance Communications, Inc  is a American multinational computer software technology corporation headquartered in Burlington, Massachusetts that markets speech recognition and artificial intelligence software.
• Aspect Software, Inc. Providing unified communications and contact center software solutions, the company offers protocol-based voice over, automatic call distribution, predictive dialing, voice portal, Internet connectivity, workflow management and multi-channel recording solutions.
• Inbenta Technologies develops an automatic language processing (or natural language processing – NLP) engine, which answers human intents formulated in natural language. A company focused on business websites and corporate intranets, Inbenta Enterprise is a global pioneer in a new class of semantic search technology aimed at dramatically improving the online experience.
• CREATIVE VIRTUAL LTD company Develops software, the company offers management solutions for the enterprises to reduce costs and rise online sales. Creative Virtual serves the banking, hospitality, travel and financial sectors worldwide.
• Alveria, a global leader in delivering optimized customer experience and workforce engagement software and cloud services technology solutions.
• Meta Platforms Inc., formerly Facebook Inc., is a company providing social networking, advertising and business insight solutions, the company, through its virtual-reality vision, Metaverse, and focuses on developing virtual environments that allow people to interact and connect with technology.
• RASA Technologies GmbH is a provider of open-source machine learning tools for developers and product teams to extend chatbots beyond answering simple questions. Rasa's machine learning-based communication tools allow developers to automate contextual conversations.

• ServisBOT*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Google LLC
• Amazon Web Services
• Nuance Communications
• Aspect Software, Inc.
• Inbenta Technologies
• Creative Virtual Ltd
• Alvaria
• Meta Platforms Inc
• RASA Technologies GmbH

•  “*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
   • PORTER’s
   • Investment Outlook
3. Market Purview
   • Executive Summary
   • Key Findings—Global Outlook for Bot Services Strategies
     • Key Questions this Study will Answer

     • Global bot services market by type:

       • Framework
       • Platform

       Global bot services market by application:

       • Banking, Financial Services, & Insurance (BFSI)
       • Retail & eCommerce
       • Healthcare
       • Government
       • Travel & Hospitality

       Global bot services market by region:

       • North America
       • Europe
       • Asia Pacific
       • Latin America
       • Middle East & Africa
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Overview
   • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
   • Y-o-Y Growth Analysis (%), 2020 – 2030
   • Regional Trends
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Regional Analysis
   • Regional Revenue Analysis
   • Regional By segment Analysis
   • Reasons for regional growth
   • Key Player of particular region
   • Countries Include in the report:

1. • • North America (U.S., Canada)
     • Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
     • Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
     • Latin America (Brazil, Mexico, Rest of Latin America)
     • Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)

1. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
   • Competitive Overview
   • Competitive Benchmarking
   • Market Share Analysis
   • Key Developments In The Global Bot Services Market
   • Key Developments: Mergers & Acquisitions
   • Key Developments: Collaboration
   • Key Developments: Contracts & Agreements
   • Key Developments: Expansion
   • Key Developments: Product Developments
2. Company Profiles

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies
• SWOT Analysis

• • Microsoft Corporation
  • IBM Corporation
  • Google LLC
  • Amazon Web Services
  • Nuance Communications
  • Aspect Software., Inc.
  • Inbenta Technologies
  • Creative Virtual Ltd.
  • [24]7.ai, Inc.

1. The Last Word
   • Future Impact
   • About Us
   • Contact