Global Bot Services Market - Expected to Grow from USD 458.4 Million in 2017 to USD 1.7 Billion by 2022

DUBLIN, Dec. 11, 2017 /PRNewswire/ --

The "Bot Services Market - Global Forecast to 2022" report has been added to Research and Markets' offering.

This research 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.

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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Bot Services Market Analysis, By Service

7 Bot Services Market Analysis, By Mode

8 Bot Services Market Analysis, By Deployment Channel

9 Bot Services Market Analysis, By End-User Vertical

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

• 24/7 Customer
• Amazon Web Services
• Aspect Software
• Astute Solutions
• Cognicor Technologies
• Creative Virtual
• Facebook
• Google
• IBM
• Inbenta Technologies
• Microsoft
• Nuance Communications

For more information about this report visit https://www.researchandmarkets.com/research/mcr2n7/bot_services

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