Bot Services Market

Bot Services Market is estimated to be US$ 8686.42 million by 2030 with a CAGR of 32.4% during the forecast period

Bot Services market accounted for US$ 537 million in 2020 and is estimated to be US$ 8686.42 million by 2030 and is anticipated to register a CAGR of 32.4%. Bots are computer programmes that are programmed to carry out a specified repetitive duty without the need for human intervention. Bots were created to relieve individuals of their responsibilities by executing particular jobs more quickly and effectively than a human could. Bots are typically software that functions via a network, most commonly the internet. They communicate with other bots, online pages, and even humans in order to find problems to fix. We can divide bots into two categories: good bots and evil bots, if we want to categorize them. A "good bot" is a word that refers to bots that assist users and provide legitimate services. Bots that undertake illegal and often unethical actions are known as bad or malignant bots.

The report "Global Bot Services Market, By Type (Framework and Platform), By Application (Banking, Financial Services, & Insurance (BFSI), Retail & eCommerce, Healthcare, Government, and Travel & Hospitality), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029’’

Key Highlights:

In December 2021, The automated Grid Trading Bot service has been launched by Matrixport, Asia's fastest growing digital assets financial services platform. The Grid Trading service will allow trading pairs between USDT/USDC and BTC, ETH, and BCH in its initial phase.
In December 2021, Hanryu Bank's global fandom networking platform FANTOO announced the introduction of the AI chatbot service 'Sejong T-bot' on the 13th (tentative name). King Sejong, the creator of Korean characters, will answer questions about Hangul (Korean characters) through this service, and global users can study Hangul by conversing with King Sejong.

Analyst View:

One of the primary factors propelling the growth of the BOT services market is the increasing adoption of the Internet and online services around the world. The availability of numerous tools and platforms for providers to develop and implement bot services, as well as the increased use of bots in various industries such as BFSI and E-commerce, are accelerating market expansion. The industry is also influenced by the surge in demand for feature phones and the incorporation of advanced AI and NLP techniques. Furthermore, the BOT services industry benefits from increased investment, growing demand for enhanced services, digitization, and urbanization.

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Key Market Insights from the report:

Global Bot Services market accounted for US$ 537 million in 2020 and is estimated to be US$ 8686.42 million by 2030 and is anticipated to register a CAGR of 32.4%. Global Bot Services market is segmented into type, application and region.

Based on Type, the Global Bot Services Market is segmented into Framework and Platform.
Based on Application, the Global Bot Services Market is segmented into Banking, Financial Services, & Insurance (BFSI), Retail & eCommerce, Healthcare, Government, and Travel & Hospitality.
By Region, the Global Bot Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Bot Services Market:

The key players in the global Bot Services market includes Microsoft Corporation, IBM Corporation Inc., Google LLC, Amazon Web Services

Nuance Communications, Aspect Software, Inc., Inbenta Technologies and Creative Virtual Ltd..

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.