The bot services market share is expected to increase by USD 1.59 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 25.67%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (BFSI, retail, healthcare, media, and others), service (framework and platform), and geography (North America, APAC, Europe, South America, and MEA).
The bot services market report also offers information on several market vendors, including [24]7.ai Inc., Amazon.com Inc., Creative Virtual Ltd., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Oracle Corp., Pandorabots Inc., and Vergic AB among others.
Amazon.com Inc. - The company offers bots which are an interactive agent that makes it easy to monitor and interact with AWS resources in Slack channels and Amazon Chime chat rooms and also helps in receiving alerts, running commands to return diagnostic information, and invoking AWS Lambda functions, under the brand name of AWS Chatbot. The North American segment includes retail sales of consumer products and subscriptions through North America-focused online and physical stores. The segment also includes export sales from these online stores.
What will the Bot Services Market Size be During the Forecast Period?
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Parent Market Analysis
Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Bot Services Market: Key Drivers, Trends, and Challenges
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Bot Services Market Driver
- One of the key factors driving growth in the bot services market is the cost benefits of using bots.
- Owing to the expansion of the customer base and the growing business needs, companies are focusing on replacing the human workforce with bots for better efficiencies and cost-effectiveness.
- Many organizations are facing challenges when it comes to estimating profits within the departments of the organization because of the cumbersome allocation of budgets and unequal use of shared resources.
- With the help of chatbots with AI capabilities, customer satisfaction can be measured, and measures can be taken to improve service quality. Thus, the cost benefits obtained from the use of bots are expected to fuel the growth of the global bot market during the forecast period.
Key Bot Services Market Challenge
- Data privacy and security risks will be a major challenge for the bot services market during the forecast period.
- Intelligent bots have the capability to track, retrieve, and analyze data from the connected server.
- The data of the organizations needs to be secured from unauthorized access to the IT infrastructure.
- The convenience of procuring and accessing cloud services can also give bots the ability to scan, identify, and exploit loopholes and vulnerabilities in a system.
- Accessibility to many data sources is a potential security risk in companies' chatbots; configuration of user control and access permissions is a must. Therefore, data privacy and security risk is the major concern for this market, which can negatively impact the market during the forecast period.
This bot services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Bot Services Market Value Chain Analysis
Our In-house experts produce extensive information on the value chain and parent market of the market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
Which are the Key Regions for the Bot Services Market?
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35% of the market’s growth will originate from North America during the forecast period. The US is the key market for bot services in North America. Market growth in this region will be faster than the growth of the market in the European regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What is the Fastest-Growing End-user Segment in the Bot Services Market?
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The bot services market share growth by the BFSI segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Bot Services Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 25.67% |
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Market growth 2021-2025 |
$ 1.59 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
24.87 |
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Regional analysis |
North America, APAC, Europe, South America, and MEA |
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Performing market contribution |
North America at 35% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
[24]7.ai Inc., Amazon.com Inc., Creative Virtual Ltd., Inbenta Technologies Inc., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Oracle Corp., Pandorabots Inc., and Vergic AB |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Bot Services Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive bot services market growth during the next five years
- Precise estimation of the bot services market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the bot services market industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive analysis of factors that will challenge the growth of market vendors
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