Bot Services Market Size Worth $17.14 Billion By 2030 | CAGR: 33.67%

The global bot services market size is expected to reach USD 17.14 billion by 2030, according to a new study by Polaris Market Research. The report “Bot Services Market Share, Size, Trends, Industry Analysis Report, By Mode Type (Text and Rich Media, Audio, and Video); By Deployment; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising adoption of internet-based and online services, including online shopping, banking, and research activities among various end-users, coupled with the rising consumer disposable income in industrial sectors for advanced technologies and solutions, are the prime drivers favoring the market growth.

Furthermore, increased demand from the healthcare sector to provide and offer better services by helping patients and their respective families with their accounts, minor health concerns, and insurance claims is also fostering the demand for bot services around the globe over the coming years.

For instance, Microsoft Corporation, a leading company in the global market, announced the re-structuring of the company’s healthcare bot service to Azure to help customers to have advantages of Azure’s highly improved tools, compliance features, and security. And the healthcare bots are usually used to build thousands of bots and deliver around 1 billion messages to nearly 80 million people globally, spanning 25 countries.

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The increasing demand for high-feature phones and incorporation of advanced NPL techniques are some factors projected to have a positive impact on market growth. The global market has benefitted from various factors such as rising investments, enhanced services, digitalization, adoption of machine learning, and rapid urbanization, especially in developing countries such as India, China, and Indonesia, along with a broader ecosystem to provide profitable aspects for global market players.

Bot Services Market Report Highlights

• Audio segment is expected to grow at a high CAGR over the forecast period owing to the high usage of bot services by global telecom service providers.
• Websites accounted for a major revenue share due to the extensive rise in the number of internet users along with the growing prevalence of advanced and innovative chat interfaces.
• BFSI segment is anticipated to hold a significant market share during the forecast period owing to increased services provided by chatbots in various applications such as balance inquiries and loan queries.
• North American region held the largest market revenue share and is projected to maintain its dominance throughout the forecast period because of the early adoption of advanced and innovative artificial intelligence technologies.
• The global market is moderately competitive with many well-known and established market players such as Microsoft Corporation, Google LLC, IBM Corporation, and RASA Technologies.

Polaris Market Research has segmented the bot services market report based on mode type, deployment, end-use, and region:

Bot Services, Mode Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Text and Rich Media
• Audio
• Video

Bot Services, Deployment Outlook (Revenue - USD Billion, 2018 - 2030)

• Websites
• Contact Center
• Customer Service
• Social Media
• Mobile Applications

Bot Services, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• BFSI
• Telecom
• Media & Entertainment
• Retail
• Healthcare
• Government
• Others

Bot Services, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa