Bot Platform Software primarily refer to a development platform for the deployment of bots across varied channels such as websites, mobile apps, social media platforms, and contact centers. A bot is an interactive tool in applications and acts as a conversational interface for end-users who can interact with it using the text, audio, and video interface mode. Bot Platform Software help businesses and organizations to improve customer experience by enhancing their customer communication channels.
Visionary leaders in Bot Platform Software market are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Dynamic Differentiators in Bot Platform Software market are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Emerging companies in Bot Platform Software market have a niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.
Enterprises use bot frameworks and bot platforms for developing and deploying bots on various communication channels, such as websites, mobile applications, social media platforms, and contact centers. Enterprises are widely adopting bot services to provide more effective and efficient customer services. A number of bots are available in the market for end-users to address and deal with customer queries. Bots are identified by various names, such as chatbots, intelligent personal assistants, virtual assistants, chat agents, and virtual agents.
Some of the basic elements of bot frameworks are NLP, machine-learning algorithms, speech recognition, image recognition, and artificial neural network, which sum up the entire AI ecosystem. Bots are considered to be one of the prominent entities that consolidate the AI components. Companies such as Microsoft, Facebook, and Google offer a variety of frameworks as per the end-user requirements, thus incorporating the entire AI ecosystem. Microsoft offers one of the most well-known and impressive bot integration frameworks which have been deployed across various platforms. In addition, the company also offers the Platform as a Service (PaaS) option on Microsoft Azure for bots.
NATURAL LANGUAGE PROCESSING (NLP)
NLP allows human-to-computer interaction; it analyzes and understands both spoken and written forms of human languages. Thus, it assists machines in understanding the language in which humans communicate (both reading and writing), and formulating basic and advanced levels of interactions with humans. This form of communication enables computers to perform various other additional tasks, such as processing of enormous amounts of data by utilizing NLP for information retrieval, information extraction, automatic summarization, and machine translation and dialog systems. Along with this, computational machines are also capable of executing enhanced sentiment and behavioral analysis to provide business organizations with more effective informational insights. Speech and text recognition are also prominent elements of NLP. Language Understanding Intelligent Service (LUIS.ai) is one of the well-known NLP components developed by Microsoft.
Machine learning is a computing technology that enables computers to explore, learn, and modify their analytical functionalities when exposed to new data sets, without being explicitly programmed. It is also used to capture data and subsequently run discrete modelers to create patterns for processing, analysis, and interpretations, which are required for real-time decision-making.
ARTIFICIAL NEURAL NETWORK
An artificial neural network is a computing system that comprises a number of interconnected processing nodes, which work on non-linear statistical data modeling. These networks use the biological approach of the artificial neural networks through self-learning algorithms, thereby providing solutions for various complex problems through several iterations/layers.
Apart from AI-driven technologies, bot framework providers also offer other tools, which include bot analytics and chat flow analyzers. Some framework providers offer homegrown chat analytical tools; however, independent standalone companies also provide such solutions. These companies also work with framework providers to analyze the performance of bots.
PLATFORMA bot platform is usually an online ecosystem that provides a base to deploy and run bots. Platforms are primarily utilized by users with a non-technical background who want to develop bots without coding. Platform services offer users with a toolkit to create an interactive bot that can be deployed on any of the messaging platforms and is connected to APIs. Bot platform providers offer users with full-fledged bots having features such as multi-language support, real-time analytics, enterprise control, data security, and multi-purpose models. The end-users of bot platforms can be medium-sized or small enterprises or companies who do not wish to use a homegrown bot tool. Bot platform services can also be termed as bots as a service. Companies such as Gupshup, Avaamo, Kore.ai, Motion AI, Chatfuel, Wit.ai (Facebook), and API.AI (Google) are some of the significant players that provide platform services for bots.
Bot Platform Software Quadrant
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- Breadth and Depth of Product Offerings
- Products/Solutions Offered
- Bot Framework/ Bot platform
- Product Branding
- Technical Support
- Customer Support
- Sales Support
- Pre Sales Support
- Software Requirement Specification (SRS)
- Product Demos
- Channel for Delivery of Support Services
- Remote Support
- On-Site Support
- Product Differentiation and Impact on Customer Value
- Industry Vertical
- Retail & E-commerce
- Media and Entertainment
- Real Estate
- Travel & Hospitality
- Others (Restaurent automotive, and utilities )
- Deployment Model
- Product Features and Functionality
- Language Support
- more than 10
- less than 10
- Interface Mode
- Text and RCS
- Deployment Channels
- Social Media
- Mobile app
- Contact Centres & Customer Service