Market Size – USD 1.22 Billion in 2021, Market Growth – at a CAGR of 33.68%, Market Trends – Rising demand for advanced bot services from Asia Pacific

VANCOUVER, BRITISH COLUMBIA, CANADA, April 6, 2023 /EINPresswire.com/ -- Global Bot Services Market Forecast to 2030

The report, Global Bot Services Market Research Report and Forecast to 2030, provides a detailed analysis of the global Bot Services market, including market size, market share, current and future trends, and the most recent technological breakthroughs. The research provides information on the regional and global competitive landscape of the Bot Services market along with a complete prognosis through 2030. The impact of the COVID-19 epidemic on the market for lead-free piezoelectric ceramic materials has been updated in the most recent research. It examines the impact of the epidemic on each region's political and economic systems. It presents a present and projected view of the pandemic's effects on supply chain disruptions and economic volatility.

The global bot services market size was USD 1.22 Billion in 2021 and is expected to register a revenue CAGR of 33.68% during the forecast period, according to latest analysis by Emergen Research. Growing advancements in chatbot technologies and rising initiatives from the government are factors projected to support market revenue growth between 2021 and 2030. For example, on 07 December 2022, London's Violence Reduction Unit (VRU) financed a new chatbot service to assist children who are in danger of exploitation in collaboration with the nonprofit Missing People. Chatbot service will provide youths between the ages of 13 and 18 with free, private support using online chatbots and one-on-one conversations with qualified support staff. Young Londoners who are concerned about something that is happening to them can contact the one-to-one messaging platform seven days a week from 4 pm to 11 pm, with the bot and online counseling available 24 hours a day thanks to funding from London's VRU.

Moreover, chatbots are assisting financial institutions in surviving and thriving in the industry while the pandemic continues. Because nobody expected this to happen, there was terrible wait time at call centers when the pandemic first started, and some clients experienced financial difficulties due to budget cuts and layoffs. It became challenging to make ends meet to pay a mortgage. Due to the need for social distancing, many institutions also experience staffing challenges in the call center along with high call volumes. Many businesses have implemented chatbots to aid and improve the range of customer service to handle all these challenges. Companies now use bots to automate and manage basic routine inquiries while maintaining human resources on standby to help consumers with more complicated problems.

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Competitive Terrain:

The global Bot Services industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

IBM, Microsoft, Google, Amazon.com, Inc., Nuance Communications, Inc., Inbenta Holdings Inc., Creative Virtual Ltd., Enterprise Bot, Chatfuel, Artificial Solutions, Alvaria, Pandorabots, Inc., Creative Virtual Ltd

Research Report on the Bot Services Market Addresses the Following Key Questions:

Who are the dominant players of the Bot Services market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Bot Services market?

What are the key growth drivers and restraining factors of the Bot Services market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Bot Services market and its key segments?

Market Overview:

The report bifurcates the Bot Services market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Technology Outlook (Revenue, USD Billion; 2019–2030)

Platform

Framework

Mode of Interaction Outlook (Revenue, USD Billion; 2019–2030)

Text and Rich Media

Video

Audio

Deployment Outlook (Revenue, USD Billion; 2019–2030)

Social Media

Website

Mobile Applications

Contact Center

Regional Landscape section of the Bot Services report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Some Key Highlights From the Report

The marketing & sales segment is expected to register rapid revenue CAGR due to rising demand for bot services. To cut expenses, many organizations automate their labor-intensive, repetitive procedures. To significantly save expenses, businesses are primarily focusing on automating customer service and sales.

The travel & hospitality segment is expected to register significant revenue CAGR during the forecast period. Artificial Intelligence (AI)-driven chatbots offer a simple and affordable replacement for expensive and complex customer service. Chatbot-based customer service is ideal for the travel and hotel industries. Chatbots provide a better and simpler way to communicate with clients in tourism, travel, and hospitality.

Market in North America accounted for the largest revenue share in 2021. This is attributed to availability of top competitors and the rapid adoption of cutting-edge technologies in the region's various industries.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Bot Services market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

Data and information related to the consumption rate in each region

Estimated increase in the consumption rate

Proposed growth of the market share of each region

Geographical contribution to market revenue

Expected growth rate of the regional markets

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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