Bot Services Industry Research Report - Global Forecast till 2023

What Are Bots?

Bots are computerized programs built to conduct repetitive operations. With the computing power accessible to programmers, bots are made to implement tasks at increased speeds, which is unthinkable for an actual human to perform similar tasks at such speed. Bots have been finding wide application over the past 5 decades. Contemporary bots are automated with malicious or good purposes. To be precise, there are good bots and bad bots depending upon the intent with which it is being employed. For instance, a search engine crawler bot can be considered as a good bot. The crawler bots (or spiders) guide the web page so that it becomes noticeable to everyone accessing the internet. Without the crawler bot, most online businesses will brawl to create a brand value and to draw new users. Additionally, one can employ a bot to encapsulate live weather updates from different locations throughout the country along with the patterns in temperature fluctuations. Bots are also incorporated to capture scores from matches over the season and make predictions for the upcoming matches with the same bunch of players. As we may see, the bots are arrayed for gathering the basic information or for harmless entertainment. However, bots are often used for carrying out illicit activities. Hackers can program bots to illegitimately steal content from websites and sell it to the rival website. These hackers can collect every information related to price variations, pricing information, pricing history, and pricing strategy. They can further purloin fresh content like stock tickers, news, classified listings as well as spam a company’s community forums with unwanted messages and promotional contents. Moreover, the bot can stress your bandwidth and servers with bot traffic. Not to mention, bots can influence the poll results too. Even if one of the aforesaid activities are performed on a company’s website, it will negatively impact the website’s performance, competitive advantage, sales conversions, brand value, and most importantly, the consumer’s perception and experience about the services offered by the organization.

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Artificial Intelligence & Bots- What’s The Connection?

Bot services largely operate on the concept of artificial intelligence. Artificial intelligence assists the bot to answer questions and assist them to resolve the queries in an efficient and fast manner. Bots are mostly integrated for catering to the client’s needs through customer services and customer support frameworks. Today, bots have become an indispensable part of social media, because social media plays a vital role in conducting businesses for various enterprises. The integration of bots is spurring everyday owing to the expanding internet penetration and accelerating number of online services. Technology giants are increasingly contributing to the bot development services market. For instance, Microsoft’s Azure bot service has gained wide recognition in the tech market. The bot services Azure market extend the ability to include intelligent agents that can converse without having to compel the resources to create one's independent AI. 2019 is witnessing the chatbots get more AI-driven. The ruling trends in AI indicate that bots are rapidly being well capacitated of handling complicated human interactions with simplicity and are now taking over the conventional conversational services. Furthermore, chatbots are starting to take over the outsourcing sector gradually. Instead of hiring a pool of customer care executives at the preliminary level of customer interaction, the businesses are delegating the tasks to the bots, saving huge costs in the process.

Conclusion

Bots can be found performing a gamut of activities ranging from booking hotels, movie tickets, flight tickets, and reserving restaurants. Surged growth of artificial intelligence is significantly driving the growth of the global Bot Services Industry. They are broadly used in verticals such as financial services, insurance, banking, healthcare, retail, telecom, media & entertainment, government, and travel. With the extensive need for improved customer services across the world, businesses are constantly striving to integrate AI and bots into their system. Although bots are often used for illicit activities around the world, but when used in an effective way, bots can help businesses to reach new heights.

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LIST OF TABLES

TABLE 1 BOT SERVICES INDUSTRY, BY SERVICE

TABLE 2 BOT SERVICES INDUSTRY, BY TYPE

TABLE 3 BOT SERVICES INDUSTRY, BY DEPLOYMENT

TABLE 4 BOT SERVICES INDUSTRY, BY END USER

TABLE 5 BOT SERVICES INDUSTRY, BY REGION

Continued…….

LIST OF FIGURES

FIGURE 1 RESEARCH BOT SERVICE

FIGURE 2 BOT SERVICES INDUSTRY, BY SERVICE (%)

FIGURE 3 BOT SERVICES INDUSTRY, BY TYPE (%)

FIGURE 4 BOT SERVICES INDUSTRY, BY DEPLOYMENT (%)

FIGURE 5 BOT SERVICES INDUSTRY, BY END USER (%)

Continued…….

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