Frequently Asked Questions
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What are the opportunities in the Bot platform market?
The global chatbot market size is expected to grow from USD 2.6 billion in 2019 to USD 9.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 29.7% during the forecast period. Key growth factors for the chatbot market include advancement in technology coupled with rising customer demand for self-services and 24*7 customer assistance at lower operational costs. Further, initiatives toward the development of self-learning chatbots to deliver more human-like conversational experience, growing use of chatbot among various industries, and increasing focus on customer engagement through various channels to create many opportunities for vendors in the global chatbot market. -
What is the competitive landscape in the market?
The chatbot market comprises key solution providers, such as IBM Corporation (US), Nuance Communications (US), Google (US), Amazon Web Services (US), Artificial Solutions (Spain), Inbenta Technologies (US), [24]7.ai (US), Chatfuel (US), AIVO (Argentina), Botsify.com (Pakistan), Passage AI (US), Kore.ai (US.ai), KeyReply (Singapore), SmartBots (US), Contus (India), Yellow Messenger (India), CogniCor Technologies (US), Conversica (US), Gupshup (US), and Kevit (India). -
What are the emerging technologies impacting the overall Bot platform market?
Machine Learning (ML), Natural Language Processing (NLP) and Automated Speech Recognition (ASR) are the key emerging technologies in the bot platform market -
What are the key use cases existing in the Bot platform market?
Self-learning chatbots can adapt to changing conditions in the environment they operate in, such as these bot cans learn from their actions, experiences, and decisions. These chatbots can be considered as clever enough to analyze data in minimal time and help the customer find the exact information they are looking for conveniently, by offering support in multiple languages. Self-learning bots whose behavior is data driven are powered NLP technology and self-learning capability (supervised ML), which can enable the delivery of more humanlike and natural communication and can learn from their own mistakes. -
What are the key trends and dynamics existing in the Bot platform market?
Driver: 24*7 customer assistance at a lower operational cost, Restraints: Inability to recognize customer intent and respond effectively, Opportunity: Initiatives toward development of self-learning chatbots to deliver a more humanlike conversational experience, Challenge: Lack of awareness -
Which are the recent developments made in Bot platform market?
In January 2019, IBM formed a partnership with the Ingenico Group to build a payment-enabled chatbot with the intent to deliver personalized experiences to its customers. Ingenico Group is a European company engaged in delivering the technology required for conducting secure electronic transactions. Through this partnership, Ingenico Group could leverage Natural Language Processing (NLP) capabilities offered by the Watson platform to better understand user requests and interpret nuances in various languages and phrasing. Owing to this, the bot could respond to customer requests quickly. In April 2019, Google formed a partnership with Salesforce to develop smart customer experience. With this partnership, both companies aim to integrate Google’s Dialogflow Enterprise Edition with Salesforce Einstien platform product offerings for customer services. By integrating these solutions, both companies aimed at developing a solution, whether it is a chatbot or an agent, to create an enhanced customer service experience.
Best Bot Platform Software in 2022
Comparing 26 vendors in Bot Platform Software across 92 criteria.
Selected by 
Analysts
Analysts 
Creative Virtual’s bot services include V-Person Web, V-Person Live Chat, V-Person Mobile, V-Person Social
Media, V-Person Contact Centre, V-Person Service Desk, and V-Portal omnichannel knowledge
management system. All these offerings are based on the V-Person conversational technology platform,
designed to help businesses leverage their collective knowledge to deliver personalized experiences to
their customers across various contact channels. V-Person Web is a virtual assistant which answers
customer question and queries at any time along with immediate support.
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Selected by Analysts
Analysts
Pypestream is a company that helps its clients to increase their customer satisfaction by saving the amount that they would have spent on employing conversational agents. The conversational AI is available 24/7 for the customers, so they can post their queries whenever they feel comfortable. The company also caters to different industries, including that of Telecom, Insurance, Travel and Financial Services.
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87 Buyers Interested
Microsoft offers bot frameworks for developers and enterprises to build, connect, develop, and deploy bots on various platforms, such as the web, messengers, email, and social media. The company’s bot platform software mainly includes two basic bot building components, namely, bot builder and bot framework portal. Bot builder offers SDK for .NET, Node.js, and Representational State Transfer (REST), which makes interaction between users and bot simpler. Enterprises and developers can register, manage, diagnose, connect and control bots on the bot framework portal.
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79 Buyers Interested
Facebook has built a strong presence in the bot services market by acquiring the Wit.ai platform, a startup
company, which offers the NLP platform. Developers can build conversational UIs using the Wit.ai platform,
which is open and freely available.
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60 Buyers Interested
IBM offers bot platform software based on its IBM Watson Assistant. Developers can build bots and virtual agents using the IBM Watson Assistant that can be deployed over a range of channels, such as the web, mobile apps, messaging platforms, and social media.
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72 Buyers Interested
Google entered the bot platform software market by acquiring the API.AI platform, a conversational platform for building bots, applications, and services. Google Cloud Dialogflow helps developers to build text and voice-based conversational applications. The platform provides NLP modules that understand user intent.
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86 Buyers Interested
The U.S. based messaging service company Gupshup helps other organizations develop smart colloquial skills seamlessly over a group of messaging channels using a single API. It has a complete product collection that incorporates an easy to use cross channel messaging API, advanced bot construction platform and marketing tools for mobile. This makes it flexible and seamless while the businesses also can design intelligent bots according to their needs.
70 Buyers Interested
Amelia conversational solution is based on cognitive AI which learns from the queries creating a more profound knowledge and increasing efficiency. Apart from this, it offers intent recognition, context switching. Amelia can mimic the human brain through spread activation. It follows an individualized process flow based on the unique information exchange within every conversation.
76 Buyers Interested
Nuance provides innovative, flexible, and customized virtual assistants or bot platforms for enterprise
customers. The company’s Nina is an intelligent virtual assistant platform, through which customers can
interact with businesses or enterprises. It allows businesses to engage with their clients in a more efficient
way for better customer experience.
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79 Buyers Interested
AWS offers the Amazon Lex platform for developers to design and build bots for their web and mobile apps. Developers can build text and voice-based conversational bots using Amazon Lex. The platform is powered by deep learning and machine learning technologies, such as automatic speech recognition and NLU.
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88 Buyers Interested
Aspect Software-Inc offers a strong suite of solutions in the bot ecosystem via its customer self-service platform. Aspect CXP Pro is powered by AI, speech recognition, and NLU technologies. Its digital self-service solution offers customer service chatbots, also known as Interactive Text Responses (ITRs), which allows consumers to interact with enterprises instantly.
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65 Buyers Interested
24/7 bot services include virtual agents, predictive search bidding, digital chat agents, and bot platform.
24/7 virtual agents provide customers with timely and intuitive help for simple queries as well as complex
transactions, thus reducing support costs and enhancing the overall customer experience. The company’s
chat solution uses a predictive model which anticipates customer intent in real-time using advanced big
data and statistical techniques. It can be readily integrated with websites, mobile phones, and social
media, including WeChat, Line, Twitter, and Kik, 24/7 is a bot development platform used by developers
and enterprises. It provides a human-like conversation experience, predicts customer intent, and applies
the machine learning and data-driven approach. By leveraging the power of the 24/7 platform, enterprises
can deploy their bots on various self-service channels via API.
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81 Buyers Interested
Inbenta’s bot services include InbentaBot, Inbenta Virtual Assistant, Inbenta NLP, and Inbenta's chatbot
development platform. Inbenta is one of the leading players in chatbot and virtual assistant platforms. The
InbentaBot solution comprises avatar, hybrid chat, virtual agents, chatbot webinar, and eBook.
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86 Buyers Interested
Logmein Inc. works on SaaS or software as a service and cloud-based remote connectivity services, client engagement and IT management. The company has developed a bot platform named the Bold 360, which is a live chat platform. This solution assists different retail, manufacturing, commercial services, telecom companies to track and analyze customer actions and come up with fitting solutions.
64 Buyers Interested
Pandorabots is one of the oldest chatbot hosting services platform on earth and is currently working on A.I. to run web services and chatbots deployment. The company’s Mitsuku is one of the best and most advanced chatbots which uses deep machine learning and intelligent guesses to become more functional and realistic in day to day scenarios. It can be accessed on many common messaging platforms like Kik, Messanger, Telegram and a few others.
63 Buyers Interested
Kore.ai is a bot-based messaging platform that relates individuals, teams, and business teams collectively in a unique modernized interface. It gives an end to end conversational AI bots platform for designing as well as training and testing the bots to make them smarter and more efficient. It can be flexibly deployed in the cloud or hybrid model also.
66 Buyers Interested
When it comes to conversational computing and bots, Avaamo is a leading name throughout the globe. It has huge clients from different industries like Ericsson, Wipro, Intel and many others who vouch for their service. It can handle more than a million interactions a day, and they are helpful to solve specific problems. So, any company can approach them to create a tailor-made platform.
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67 Buyers Interested
The Swedish multinational company Artificial Solutions promotes technology to let businesses swiftly make conversational A.I. systems to interact with software and electronic devices in any format, natural language, or using speech, writing or gestures. Teneo Platform is the company’s intellectual, human-like bot platform service which enhances customer engagement and allows over the air communications to be fast, fun, easy, and secure.
78 Buyers Interested
CogniCor offers a strong suite of bot platforms or virtual assistants for enterprise customers, through its
flagship product, Cognitive Digital Assistant. This product is a customized and tailor-made solution for
enterprises that answers customer questions appropriately. End-users can communicate with the Cognitive
Digital Assistant, which uses a scripted and data-driven approach with high levels of intelligence for a
conversational interface and predicts customer queries based on historical conversation. It is a very
efficient tool for businesses wherein customer satisfaction plays a very important role. The company
provides virtual assistants for Business-to-Business (B2B) customers, with focus on the banking, finance,
retail, travel and tourism, insurance industries, as well as IT help desk support.
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66 Buyers Interested
With Next It Corporations’ advanced AI solutions businesses can understand their users. NextIt Corporations AIme helps improve business efficiency by involving companies and users. It integrates a vast network of data to come up with solutions to queries as well as execute them. With AIme conversational solutions, you can understand your users better and help your team grow with them. AIme uses a vast network of systems to assist in resolving complex queries as well as deliver better insights to organisations. With AIme, you can use your existing assets and scale them with precision for better operational efficiency.
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83 Buyers Interested
Astute Solutions offers Astute Bot, NLP, and an AI-based intelligent virtual assistant. Astute Bot delivers a
sophisticated customer experience on websites, social media, and mobile apps, and understands what
consumers are asking for by engaging in a two-way dialog to solve problems and give answers, and
determine the best way to help consumers by pulling data from internal and external sources to craft a
response.
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81 Buyers Interested
Botego is an America based company that works on and develops virtual assistant representatives, artificial intelligence, natural language processing, customer service, and some other services.Botego’s bot platform software does data retrieval faster, making it easier for organizations to understand customer’s queries better and also reduces costs. The platform also makes social media analysis by using linguistic technology to automate sentiment analysis.
62 Buyers Interested
Do You Dream Up or DYDU has revolutionized the market for bots that help companies to automatize their customer communication platform? DYDU software helps to chat, call or have voice conversations with people. Their bots are designed to be intelligent so that the discussions are foolproof. DYDU even develops interfaces for human robots that can handle customers and clients or work in the health sector.
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81 Buyers Interested
Rasa Technologies is a U.S. based company that proposes an open-source machine learning tools for developers to design contextual text and voice-based chatbots and assistants. Rasa X is the company’s tool to learn from actual conversations and improve your assistant, which in turn increases the productivity of the platform. The software can easily be installed and is effortless to setup.
84 Buyers Interested
Chatfuel is a company that is widely known for its interactive bot platform which has been specially designed to be used on Facebook. They started their journey in 2015, and they have become a crucial part of Facebook messenger marketing. Automating customer supports helps a company to save its critical time, and it also helps to create trust in the clients. Renowned companies such as Adidas, LEGO, and T-Mobile utilize Chatfuel to run their Facebook Messengers.
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78 Buyers Interested
Webio specializes in building Conversational Middleware which helps to connect a company with its client. They help the company to utilize chatbots and blended AI, which enhances the business and to make the right decisions. Webio has designed the Propensity-X Indicator, which allows to detect the results of a conversation and increases engagement. They also believe that the controls should lie with the company so that they can develop themselves without the need of having to worry.
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Frequently Asked Questions (FAQs)
The global chatbot market size is expected to grow from USD 2.6 billion in 2019 to USD 9.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 29.7% during the forecast period. Key growth factors for the chatbot market include advancement in technology coupled with rising customer demand for self-services and 24*7 customer assistance at lower operational costs. Further, initiatives toward the development of self-learning chatbots to deliver more human-like conversational experience, growing use of chatbot among various industries, and increasing focus on customer engagement through various channels to create many opportunities for vendors in the global chatbot market.
The chatbot market comprises key solution providers, such as IBM Corporation (US), Nuance Communications (US), Google (US), Amazon Web Services (US), Artificial Solutions (Spain), Inbenta Technologies (US), [24]7.ai (US), Chatfuel (US), AIVO (Argentina), Botsify.com (Pakistan), Passage AI (US), Kore.ai (US.ai), KeyReply (Singapore), SmartBots (US), Contus (India), Yellow Messenger (India), CogniCor Technologies (US), Conversica (US), Gupshup (US), and Kevit (India).
Machine Learning (ML), Natural Language Processing (NLP) and Automated Speech Recognition (ASR) are the key emerging technologies in the bot platform market
Self-learning chatbots can adapt to changing conditions in the environment they operate in, such as these bot cans learn from their actions, experiences, and decisions. These chatbots can be considered as clever enough to analyze data in minimal time and help the customer find the exact information they are looking for conveniently, by offering support in multiple languages. Self-learning bots whose behavior is data driven are powered NLP technology and self-learning capability (supervised ML), which can enable the delivery of more humanlike and natural communication and can learn from their own mistakes.
Driver: 24*7 customer assistance at a lower operational cost, Restraints: Inability to recognize customer intent and respond effectively, Opportunity: Initiatives toward development of self-learning chatbots to deliver a more humanlike conversational experience, Challenge: Lack of awareness
In January 2019, IBM formed a partnership with the Ingenico Group to build a payment-enabled chatbot with the intent to deliver personalized experiences to its customers. Ingenico Group is a European company engaged in delivering the technology required for conducting secure electronic transactions. Through this partnership, Ingenico Group could leverage Natural Language Processing (NLP) capabilities offered by the Watson platform to better understand user requests and interpret nuances in various languages and phrasing. Owing to this, the bot could respond to customer requests quickly. In April 2019, Google formed a partnership with Salesforce to develop smart customer experience. With this partnership, both companies aim to integrate Google’s Dialogflow Enterprise Edition with Salesforce Einstien platform product offerings for customer services. By integrating these solutions, both companies aimed at developing a solution, whether it is a chatbot or an agent, to create an enhanced customer service experience.
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