According to the report published by Allied Market Research, the Bot Services Market size was estimated at $537 million in 2020 and is expected to hit $7.8 billion by 2030, registering a CAGR of 30.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Enhanced customer experience and compatibility with advanced data analysis and emergence of deep learning tools drive the growth of the bot services market. On the other hand, lesser flexibility and customizations as compared to on-premises solutions restrain the growth to some extent. However, advancements in the field of artificial intelligence & machine learning and developments in digital media platforms and their growing impact on businesses are anticipated to create lucrative opportunities in the industry.
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The global bot services market is analyzed across technology, deployment, mode, end user, and region. Based on technology, the framework segment accounted for around two-thirds of the total market revenue in 2020, and is expected to lead the trail by 2030. The platform segment, on the other hand, would register the fastest CAGR of 31.9% during the forecast period.
Based on mode, the audio segment contributed to around two-thirds of the total market share in 2020, and is anticipated to dominate by 2030. Simultaneously, the text segment would cite the fastest CAGR of 31.9% throughout the forecast period.
The key market players analyzed in the global bot services market report include IBM Corporation, Facebook, Google, Amazon Web Services, 24/7 Customer, Nuance Communications, Aspect Software, Inbenta Technologies, Microsoft Corporation, and Creative Virtual. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Based on region, North America held the major share in 2020, garnering nearly two-fifths of the global bot services market. At the same time, the market across Asia-Pacific would showcase the fastest CAGR of 33.0% from 2021 to 2030. The other provinces studied in the report include Europe and LAMEA.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
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