Million Insights - World's Fastest Growing Market Research DatabaseAccording to new report available with Million Insights, The factors that are playing a major role in the growth of the market are the availability of cost-efficient bot services, beginning of cloud bot-as-a-service, growing number of users on social media, and rising use of highly enhanced tools like natural language processing and artificial intelligence.
Global Bot Services Market is expected to grow at a significant CAGR of 28.49% in the upcoming period as the scope and its applications are rising enormously across the globe. Bots are computer assistants that answer questions and help to get things done faster. It allows managing, building, monitoring, connecting, deploying, and testing bots from a web browser without a separate editor.
The factors that are playing a major role in the growth of the market are the availability of cost-efficient bot services, beginning of cloud bot-as-a-service, growing number of users on social media, and rising use of highly enhanced tools like natural language processing and artificial intelligence. However, lack of reluctance and awareness among customers regarding the use of bot services and accuracy issues related to bot services are the factors that may restrain the overall market in the years to come. Bot services market is segmented based on service, deployment channel, mode, end-user, and region.
Full Research Report On Bot Services Market Analysis available at: https://www.millioninsights.com/industry-reports/bot-services-market
Platform and framework are the services that could be explored in bot services in the forecast period. Platform sector accounted for the significant market share of bot services and is estimated to lead the overall market in the years to come. The reason could be acceptance of bot services by large, medium, and small enterprises. Based on the deployment channel, mobile applications, websites, social media, and contact center and customer service could classify bot services in the forecast period.
Video, text and rich media, and audio are the modes that could be explored in bot services in the forecast period. Text and rich media sector estimated to account for the significant market share in the years to come, as it is an effective mode for customers to interact with bots. The reason behind the overall market share could be an enhancement in machine-learning technology, NLP, and AI and growing number of social media users.
The market may be categorized based on end-users like real estate, banking, financial services, and insurance (BFSI), travel and hospitality, retail and e-commerce, education, healthcare, government, media and entertainment, telecom, and others could be explored in the forecast period. Banking, financial services, and insurance (BFSI) sector accounted for the significant market share of bot services. In addition, the government sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial market share of bot services and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers of bot services in this region, distinct and skillful frugality in terms of Gross Domestic Product (GDP), and early acceptance of the enhanced technology. The United States and Canada are the major consumers of bot services in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise an increasing number of social media users. The developing countries like India and China are the major consumers of bot services in this region.
The key players of the bot services market are Oracle, Amazon.com, Microsoft, IBM, Google, Facebook, Nuance Communications, Rasa Technologies GmbH, Aspect Software, Next IT Corp., Inbenta Technologies, and CogniCor Technologies. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Request for Free Sample Copy @ https://www.millioninsights.com/industry-reports/bot-services-market/request-sample
Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global Bot Services Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Amazon.com
• IBM
• Microsoft
• Oracle
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/telecommunications-and-networks
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
For More Information: www.millioninsights.com
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: www.millioninsights.com/industry-reports/bot-services-market
Source: www.abnewswire.com
