Worldwide Bot Services Market (2017-2022) is Expected to Grow at a CAGR of 31.2%: Increasing User Engagement on Social Media Platforms is a Major Growth Driver - ResearchAndMarkets.com

DUBLIN--()--The "Bot Services Market by Service (Framework and Platform), Deployment Channel (Websites, Contact Center and Customer Service, and Social Media), Mode (Text and Rich Media, Audio, and Video), End-User Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The report 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.

Among services, the platform segment is expected to have a higher growth rate in the bot services market during the forecast period. 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. 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.

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.

Market Dynamics

Drivers

  • Increasing User Engagement on Social Media Platforms
  • Highly Advanced AI and NLP Tools Bolstering Market Growth

Restraints

  • Dependency on Deployment Platforms for Bots

Opportunities

  • Increasing Demand for Feature Phones
  • High Growth of Social Media Platforms
  • Growing Partnerships and Widening Ecosystem

Challenges

  • Accuracy Levels Below End-User Expectations
  • Lack of Awareness and Reluctance to Use Bots

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

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

For more information about this report visit https://www.researchandmarkets.com/research/bppxzh/worldwide_bot?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Artificial Intelligence

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Artificial Intelligence