Lucintel Forecasts Bot Service Market to Reach $XX Billion by 2028

According to the recent study the bot service market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 30% to 32% from 2023 to 2028. Growth in this market is primarily driven by rising need for 24×7 customer support at a lower operational cost, increasing adoption of online and internet-based services among end use industries, and growing adoption of advanced technologies.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in bot service market by technology (framework and platform), deployment (websites, contact center, social media, and mobile applications), mode (text and rich media, audio, and video), business function (sales and marketing, human resource, finance, supply chain and logistics, and information technology), application (customer engagement and retention, workforce management, agent performance management, content management, appointment scheduling, employee onboarding, and others), organization size (large enterprises and SMEs), end use industry (banking, financial services and insurance, retail and ecommerce, healthcare, media and entertainment, telecom, government, education, travel and hospitality, real estate, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)

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“Audio market is expected to remain the largest segment during the forecast period.”

Based on mode, the bot service market is segmented into text and rich media, audio, and video. Lucintel forecasts that the audio market is expected to remain the largest segment due to the growing usage of audio-based bot service and wide range of services provided by audio bots.

“Within the bot service market, the banking, financial services and insurance (BFSI) segment is expected to remain the largest end use industry”

Based on end use industry the banking, financial services and insurance (BFSI) segment is expected to witness the highest growth over the forecast period due to its services like staying connected with customers, improving customer experience, and lowering inactive customer.

“North America will dominate the bot service market in near future”

North America will remain the largest region due to the rapid innovation and advancements of artificial intelligence technologies in the region.

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Major players of bot service market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Microsoft, IBM, Google, Oracle, AWS, Meta, and Artificial Solutions are among the major bot service providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link  or [email protected]

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