The global bot services market has grown exponentially in recent years. It will grow from $4.03 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 34.5%. The growth in the historical period can be attributed to the initial advancements in artificial intelligence (AI) and machine learning (ML), increased customer demand, integration of chatbots, inclusion of mobile app integration, and a notable shift towards conversational interfaces.
The global bot services market is expected to see exponential growth in the next few years. It will grow to $17.81 billion in 2028 at a compound annual growth rate (CAGR) of 34.6%. The growth in the forecast period can be attributed to global expansion, the integration of self-learning capabilities, a heightened focus on security, the integration of Robotic Process Automation (RPA) and bots, and seamless integration with Customer Relationship Management (CRM) systems. Major trends in the forecast period include advancements in Artificial Intelligence (AI), increasing customer expectations, the integration of chatbots, voice and conversational AI, and the automation of customer service.
The bot services market is set for growth owing to the rising utilization of bots in various sectors. Bots, powered by software replicating human-like interactions, engage in text, video, or audio conversations. Their application across industries for automating tasks and enhancing operational efficiency has surged, leading to increased demand for bot services. A survey by Tidio in June 2022 revealed that 62% of online business owners are using chatbots for customer service, with 74% expressing satisfaction. The widespread integration of bots in diverse sectors signifies a substantial market expansion for bot services.
The bot services market is poised for expansion due to the increasing penetration of e-commerce. E-commerce platforms deploy chatbots to provide real-time assistance, answer queries, guide users, and enhance customer experiences. The International Trade Administration estimates e-commerce sales in Canada to reach $40.3 billion by 2025, with a significant contribution from retail e-commerce. Additionally, the Russian e-commerce market is expected to grow by 67.2% in 2023, contributing to the 10.4% global growth rate. The surge in e-commerce activities worldwide underscores the growing significance of bot services.
Technological advancements emerge as a key trend in the bot services market, with a focus on innovations such as artificial intelligence (AI), natural language processing (NLP), and voice-activation technology. LogicHub's launch of AuDRA, an AI threat hunting bot, exemplifies the incorporation of advanced technologies in threat detection across various data sources. This trend showcases a commitment among major companies to stay at the forefront of technological evolution, driving the ongoing transformation within the bot services market.
Major players in the bot services market are leveraging AI-based chatbots to solidify their market positions. AI-powered bots excel in automating repetitive tasks, processing transactions, and providing basic customer support. Baidu's introduction of a paid version of its generative AI chatbot, Ernie Bot, showcases enhanced capabilities in understanding complex questions and generating images. The strategic use of AI-based chatbots demonstrates a commitment to staying competitive in the evolving landscape of bot services.
Strategic acquisitions play a pivotal role in the growth of the bot services market. LivePerson Inc.'s acquisition of e-bot7 in July 2021 exemplifies the trend of companies expanding their capabilities through acquisitions. LivePerson's move to enhance self-service capabilities aligns with the company's growth objectives in Europe. The acquisition strategy reflects a broader industry trend where companies seek to strengthen their positions and broaden their service offerings through strategic partnerships and acquisitions.
Major companies operating in the bot services market report are Microsoft Corporation, International Business Machines Corporation, Meta Platforms Inc., Amazon Web Services, Nuance Communications Inc., Aspect Software, Inbenta Technologies Inc., Creative Virtual Ltd., CogniCor, Astute Inc., Google LLC, Kore Inc., Next IT Corporation, Avaamo Inc., Rasa Technologies GmbH, Oracle, Artificial Solutions, eGain, Baidu, Alvaria, SAP, CM.com, Gupshup, Pandorabots, Botego, Chatfuel, Pypestream, Webio, and ServisBOT.
North America was the largest region in the bot services market share in 2023. The regions covered in the bot services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bot services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Bot services come in various types, including text, audio, and video. Text messages serve as a means of interaction between users and bots. Text encompasses any communication that carries meaning to the reader. Bot services are deployed across frameworks and platforms, including social media, SMS, websites, and cloud environments. These services cater to a range of industries, with end-users spanning BFSI, retail, healthcare, media & entertainment, telecom, travel, and government sectors.
This report provides bot services market statistics, including the bot services industry's global market size, regional shares, competitors with a bot services market share, detailed bot services market segments, market trends and opportunities, and any further data you may need to thrive in the bot services industry. This bot services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bot services market includes revenues earned by entities by providing voice search services, podcast services, web scraping services through web scar bots, and transactional bot services through transactional bots. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The global bot services market is expected to see exponential growth in the next few years. It will grow to $17.81 billion in 2028 at a compound annual growth rate (CAGR) of 34.6%. The growth in the forecast period can be attributed to global expansion, the integration of self-learning capabilities, a heightened focus on security, the integration of Robotic Process Automation (RPA) and bots, and seamless integration with Customer Relationship Management (CRM) systems. Major trends in the forecast period include advancements in Artificial Intelligence (AI), increasing customer expectations, the integration of chatbots, voice and conversational AI, and the automation of customer service.
The bot services market is set for growth owing to the rising utilization of bots in various sectors. Bots, powered by software replicating human-like interactions, engage in text, video, or audio conversations. Their application across industries for automating tasks and enhancing operational efficiency has surged, leading to increased demand for bot services. A survey by Tidio in June 2022 revealed that 62% of online business owners are using chatbots for customer service, with 74% expressing satisfaction. The widespread integration of bots in diverse sectors signifies a substantial market expansion for bot services.
The bot services market is poised for expansion due to the increasing penetration of e-commerce. E-commerce platforms deploy chatbots to provide real-time assistance, answer queries, guide users, and enhance customer experiences. The International Trade Administration estimates e-commerce sales in Canada to reach $40.3 billion by 2025, with a significant contribution from retail e-commerce. Additionally, the Russian e-commerce market is expected to grow by 67.2% in 2023, contributing to the 10.4% global growth rate. The surge in e-commerce activities worldwide underscores the growing significance of bot services.
Technological advancements emerge as a key trend in the bot services market, with a focus on innovations such as artificial intelligence (AI), natural language processing (NLP), and voice-activation technology. LogicHub's launch of AuDRA, an AI threat hunting bot, exemplifies the incorporation of advanced technologies in threat detection across various data sources. This trend showcases a commitment among major companies to stay at the forefront of technological evolution, driving the ongoing transformation within the bot services market.
Major players in the bot services market are leveraging AI-based chatbots to solidify their market positions. AI-powered bots excel in automating repetitive tasks, processing transactions, and providing basic customer support. Baidu's introduction of a paid version of its generative AI chatbot, Ernie Bot, showcases enhanced capabilities in understanding complex questions and generating images. The strategic use of AI-based chatbots demonstrates a commitment to staying competitive in the evolving landscape of bot services.
Strategic acquisitions play a pivotal role in the growth of the bot services market. LivePerson Inc.'s acquisition of e-bot7 in July 2021 exemplifies the trend of companies expanding their capabilities through acquisitions. LivePerson's move to enhance self-service capabilities aligns with the company's growth objectives in Europe. The acquisition strategy reflects a broader industry trend where companies seek to strengthen their positions and broaden their service offerings through strategic partnerships and acquisitions.
Major companies operating in the bot services market report are Microsoft Corporation, International Business Machines Corporation, Meta Platforms Inc., Amazon Web Services, Nuance Communications Inc., Aspect Software, Inbenta Technologies Inc., Creative Virtual Ltd., CogniCor, Astute Inc., Google LLC, Kore Inc., Next IT Corporation, Avaamo Inc., Rasa Technologies GmbH, Oracle, Artificial Solutions, eGain, Baidu, Alvaria, SAP, CM.com, Gupshup, Pandorabots, Botego, Chatfuel, Pypestream, Webio, and ServisBOT.
North America was the largest region in the bot services market share in 2023. The regions covered in the bot services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bot services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Bot services come in various types, including text, audio, and video. Text messages serve as a means of interaction between users and bots. Text encompasses any communication that carries meaning to the reader. Bot services are deployed across frameworks and platforms, including social media, SMS, websites, and cloud environments. These services cater to a range of industries, with end-users spanning BFSI, retail, healthcare, media & entertainment, telecom, travel, and government sectors.
This report provides bot services market statistics, including the bot services industry's global market size, regional shares, competitors with a bot services market share, detailed bot services market segments, market trends and opportunities, and any further data you may need to thrive in the bot services industry. This bot services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bot services market includes revenues earned by entities by providing voice search services, podcast services, web scraping services through web scar bots, and transactional bot services through transactional bots. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Bot Services Market Characteristics3. Bot Services Market Trends and Strategies31. Global Bot Services Market Competitive Benchmarking32. Global Bot Services Market Competitive Dashboard33. Key Mergers and Acquisitions in the Bot Services Market
4. Bot Services Market - Macro Economic Scenario
5. Global Bot Services Market Size and Growth
6. Bot Services Market Segmentation
7. Bot Services Market Regional and Country Analysis
8. Asia-Pacific Bot Services Market
9. China Bot Services Market
10. India Bot Services Market
11. Japan Bot Services Market
12. Australia Bot Services Market
13. Indonesia Bot Services Market
14. South Korea Bot Services Market
15. Western Europe Bot Services Market
16. UK Bot Services Market
17. Germany Bot Services Market
18. France Bot Services Market
19. Italy Bot Services Market
20. Spain Bot Services Market
21. Eastern Europe Bot Services Market
22. Russia Bot Services Market
23. North America Bot Services Market
24. USA Bot Services Market
25. Canada Bot Services Market
26. South America Bot Services Market
27. Brazil Bot Services Market
28. Middle East Bot Services Market
29. Africa Bot Services Market
30. Bot Services Market Competitive Landscape and Company Profiles
34. Bot Services Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on bot services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for bot services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Report Scope
Markets Covered:
1) By Type: Text; Audio; Video2) By Service: Framework; Platform
3) By Deployment: Social; Media; SMS; Website; Cloud
4) By End-User: BFSI; Retail; Healthcare; Media & Entertainment; Telecom; Travel; Government
Key Companies Mentioned: Microsoft Corporation; International Business Machines Corporation; Meta Platforms Inc.; Amazon Web Services; Nuance Communications Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Microsoft Corporation
- International Business Machines Corporation
- Meta Platforms Inc.
- Amazon Web Services
- Nuance Communications Inc.
- Aspect Software
- Inbenta Technologies Inc.
- Creative Virtual Ltd.
- CogniCor
- Astute Inc.
- Google LLC
- Kore Inc.
- Next IT Corporation
- Avaamo Inc.
- Rasa Technologies GmbH
- Oracle
- Artificial Solutions
- eGain
- Baidu
- Alvaria
- SAP
- CM.com
- Gupshup
- Pandorabots
- Botego
- Chatfuel
- Pypestream
- Webio
- ServisBOT