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Bot Services Market to Grow at a CAGR of 30.7% to Reach USD 7.8 Billion by 2030

11-28-2022 12:08 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Bot Services Market to Grow at a CAGR of 30.7% to Reach USD 7.8

Allied Market Research published a new report, titled, "Bot Services Market to Grow at a CAGR of 30.7% to Reach USD 7.8 Billion by 2030." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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 customization 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.

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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.

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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Covid-19 scenario-

• 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 Chabot 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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Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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