The article cited AMA's Global Bot Services Market Study explored significant growth with CAGR of 31.58%. According to the report, Introduction to artificially enabled as well as NLP tools
is one of the primary growth factors for the market. Robust Increase in Social Media Users
is also expected to contribute significantly to the Bot Services market. Overall, applications of Bot Services, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.
AMAs Analyst on the Global Bot Services Market identified that the demand is rising in many different parts of the world due to "Provision of Personalized Chat Bots
". One of the challenges that industry facing is "Lack of Awareness in Underdeveloped Regions and Skilled Workforce is required for Bot Development"
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Bot Services market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Bot Services market and other related sub-markets covered in the study.
o Key & emerging players in the Bot Services market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Bot Services market size is calculated using market estimation process, the Bot Services market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Bot Services market size has been validated using both top-down and bottom-up approaches.