Bot Services Market

Market Overview:

The global bot services market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.7 Billion by 2032, exhibiting a growth rate (CAGR) of 22.8% during 2024-2032. The growing adoption of digital service solutions, rising popularity of messenger bots, and the increasing employment of chatbot-integrated business-to-business (B2B) systems represent some of the key factors driving the market.

A bot is a software application programmed to execute automated, repetitive, and pre-defined tasks. It comprises a chatbot, web crawler, shopbot, monitoring bot, transactional bot, social bot, and malicious bot. It can be used in conventional ways, such as voice commands, texts, and graphics, without any human intervention. It resolves the queries of customers, provides 24x7 support and can scan contents on webpages throughout the internet to index the information on search engines. It is used to locate the best prices on a product while harvesting data and capturing relevant content. It is also employed to monitor the health of a website or network system to alert the appropriate IT professionals when a problem is detected. As it performs highly repetitive tasks far more quickly, reliably, and accurately compared to a human, the demand for bot services is rising across the globe.

Bot Services Market Trends:

At present, the increasing demand for bot services to optimize operations, leverage enhanced customer insights, and improve focus on customer experience represents one of the key factors supporting the growth of the market. Besides this, there is a rise in the utilization of bot services by large enterprises to understand customer behavior and purchase patterns and provide the company with the best customer analytics for retaining their customers and offering better products and services. This, along with the growing usage of messenger bots to create and configure multiple chatbots for the website without coding using natural language processing (NLP), is positively influencing the market. In addition, the escalating demand for chatbots to offer more advanced features, such as shipment tracking and inquiries about product specifics, complaints, and payments, is providing lucrative growth opportunities to industry investors. Moreover, the increasing employment of chatbot-integrated business-to-business (B2B) systems to perform tasks, such as placing orders, requesting information about products and services, and making payments for supplies, is propelling the growth of the market. Apart from this, the growing demand for bot services in the driver and vehicle licensing agency (DVLA) to provide more efficient self-service to customers is strengthening the growth of the market. Additionally, the rising adoption of digital service solutions, along with various advancements in artificial intelligence (AI) and machine learning (ML)-based technologies, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global bot services market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on technology, deployment, mode, and end-user.

Technology Insights:

• Framework
• Platform
   

The report has provided a detailed breakup and analysis of the bot services market based on the technology. This includes framework and platform. According to the report, framework represented the largest segment.

Deployment Insights:

• Websites
• Contact Center
• Social Media
• Mobile Applications
   

A detailed breakup and analysis of the bot services market based on the deployment has also been provided in the report. This includes websites, contact center, social media, and mobile applications. According to the report, websites accounted for the largest market share.

Mode Insights:

• Text
• Audio
• Video
   

A detailed breakup and analysis of the bot services market based on the mode has also been provided in the report. This includes text, audio, and video. According to the report, text accounted for the largest market share.

End User Insights:

• BFSI
• Government
• Education
• Telecommunications
• Healthcare
• Travel and Hospitality
• Media and Entertainment
• Others
   

A detailed breakup and analysis of the bot services market based on the end-user has also been provided in the report. This includes BFSI, government, education, telecommunications, healthcare, travel and hospitality, media and entertainment, and others.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for bot services. Some of the factors driving the North America bot services market included the growing need for customer insights, rising demand for chatbots, technological advancements, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global bot services market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include [24]7.ai Inc., Amazon Web Services Inc., Creative Virtual Ltd., eGain Corporation, Inbenta Technologies Inc., International Business Machines Corporation, Kore.ai Inc., Microsoft Corporation, Pypestream Inc. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global bot services market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global bot services market?
• What is the impact of each driver, restraint, and opportunity on the global bot services market?
• What are the key regional markets?
• Which countries represent the most attractive bot services market?
• What is the breakup of the market based on the technology?
• Which is the most attractive technology in the bot services market?
• What is the breakup of the market based on the deployment?
• Which is the most attractive deployment in the bot services market?
• What is the breakup of the market based on the mode?
• Which is the most attractive mode in the bot services market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the bot services market?
• What is the competitive structure of the global bot services market?
• Who are the key players/companies in the global bot services market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the bot services market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global bot services market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the bot services industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.