Portland, OR, Aug. 10, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global bot services market 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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Impact of COVID-19 on Bot Services Market-
- As the world started relying more and more on digital alternatives to enact social distancing norms, chat and voice bots were extensively adopted across several industries.
- For example, some of the foodservice industry-based businesses employed voice and chatbots for booking appointments, getting hold of customer orders, and taking feedback from their clients. Similar methods were also used by many small (or medium) consumer-facing businesses.
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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.
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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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.
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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 to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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