Bot Platform Software primarily refers to a development platform for the deployment of bots across varied channels such as websites, mobile apps, social media platforms, and contact centers. 360Quadrants has identified the top 10 Bot Platform Software providers, as below:

Top Bot Platform Software Vendors in 2020

  • Microsoft
  • Facebook
  • IBM Watson
  • Google
  • GupShup
  • IPSoft
  • Nuance Communications
  • Next IT Corporation
  • Amazon
  • 24/7 Customer Inc


Top Bot Platform Features

There are a plethora of bot platforms available that add to the complexity of choosing an ideal one. However, it is very important for businesses to select one that suits their needs. Below mentioned are of some of the features that businesses can consider prior to choosing an ideal Bot Platform Software:

  1. Connectivity
  2. Scalability
  3. Security
  4. Compliance
  5. Multi-Language Support
  6. Rich Interface
  7. Improved Integration
  8. Rich Messaging Formats
  9. Bot Templates
  10. Enhanced NLP
  11. Webhooks
  12. API Integration
  13. Speech Analytics
  14. Conversation Engine

Top 10 New Entrants

These new entrants are the firms that have a great understanding of the latest technologies and trends, right from their inception. These companies may not be so widespread geographically, but they have offerings. These vendors are generally the ones who are beginning to emerge in terms of product portfolio and geographical coverage, and will need some time to gain traction in the market. Some of the emerging new entrants are:

  1. Rasa Technologies
  2. Astute Inc
  3. Creative Virtual
  4. Chatfuel
  5. Webio
  6.  
  7. Logmein Inc
  8. Aspect Software Inc
  9. Botego
  10. Do You Dream Up

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 helps businesses and organizations to improve customer experience by enhancing their customer communication channels. The platforms allow developers and businesses to create bots effortlessly. The main core of Bot Platform is artificial intelligence, with user friendly interface along with all required settings for customization and personalization.

Bot Platform Software market is expected to grow from USD 2.6 billion in 2019 to USD 9.4 billion in 2024 at a CAGR of 29.7% during the forecast period.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

Top 25 companies offering Bot Platform software features were analyzed, shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies to identified best Bot Platform software providers.

VISIONARY LEADERS

Bot Platform Software Vendors who fall into this category generally receive high scores for most of the evaluation criteria. They have a robust and established product portfolio and a very strong market presence. Moreover, these vendors also have strong business strategies. This category includes top Bot Platform software vendors such as Microsoft Corporation, Facebook, IBM Corporation, Google Inc., Gupshup, IPSOFT, and Nuance Communications Inc.

DYNAMIC DIFFERENTIATORS

The dynamic differentiator's category includes established vendors with very strong business strategies. However, they are low in the product portfolio. This category includes vendors such as Logmein Inc., Aspect Software Inc. and Amazon.

INNOVATORS

Innovators are vendors who have demonstrated substantial product innovations as compared to their competitors. They have a focused product portfolio. However, they do not have very strong growth strategies for their overall business. This category includes best Bot Platform software vendors such as 24/7 Customer Inc., Inbenta Technologies Inc., Pandorabots, Koreai, Avaamo Inc., Artificial Solutions, Cognicor Technologies, Next IT Corporation, Botego and Do You Dream Up.

EMERGING COMPANIES

Emerging companies’ category comprises vendors with niche product offerings, who are starting to gain their position in the market. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before getting significant traction. This category includes vendors such as Rasa Technologies, Astute Inc., Creative Virtual, Chatfuel, Webio and Pypestream.

Importance of Bot Platform Software:

Bot Platforms software increases operational efficiency and brings cost savings to businesses while offering convenience and added services for customers. They enable companies to easily solve many types of customer queries and issues while reducing the need for human interaction.

Adopting Bot Platform technology can help organizations in the following ways:

Decreases customer waiting time:  Bot Platform ensure that customers receive the immediate response that they are looking for without making them wait in a queue. 

24/7 Availability: Chatbots provides 24x7 customer service.

Better customer engagement: Conversational bots can engage customers round the clock by starting proactive conservation and offering personalized recommendations that boost customer experience.

Easy Scalability: Bots can be easily scalable during peak business hours and can manage multiple customers in one go without additional costs.

Automate lead qualification & sales: Bot Platform automates sales funnel to prequalify leads and direct them in the right direction. This increase leads and conversion rates.

How does Bot Platform Software work?

Bots work by analyzing and identifying the intent of the user’s request to mine relevant entities. Once the analysis is done appropriate response is delivered to the user. 

Bot Platform Software work by adopting three classification methods:

Pattern Matching: Bots utilize pattern matches to group the text and it produces an appropriate response from the clients. Artificial Intelligence is the standard structured model that is used by bots to get the right answer in the related pattern.

Natural Language Understanding: Natural language understanding enables bots to understand humans. It converts text into structured data for the machine to understand. NLU follows three specific concepts. They are entities, contexts, and expectations.

Natural language processing (NLP): Natural Language Processing bots are designed to convert the text or speech inputs of the user into structured data. The data is further used to choose a relevant answer. 

Features to be considered for selecting top Bot Platform Software:

  • Ubiquitous Connectivity: Bot Platform should come up with connectivity options for all major social media platforms, voice, and messaging platforms.
  • Elastic and Scalable: A bot should scale-out and is based on its demand dynamically. 
  • Security: Bots should have provisions to authenticate, authorize, maintain confidentiality and identity of users as well as bots themselves.
  • Monitoring, Logging, and Auditing: The Bot Platform software should provide rich logging mechanism to capture activities in bots and provide telemetry metrics to its owner. This should include availability, scalability and performance details among others.
  • Multi-Language Development: Bot platform should provide multiple language options for the development of bots. 
  • Stateful and Stateless Bots: Bot platform should provide the option to build both stateful as well as stateless bots. It should provide the infrastructure through which the state can be persisted across conversations and communication mediums. 
  • Ability to Initiate Conversations: Bot Platform software should pro-actively start conversations with its users.
  • Rich Interface: Bot platform should provide features through which rich interactions can be performed by users. Apart from text messaging, options for interacting with a bot using buttons, options and images should be available.
  • Massive parallelism: Bot platform should be capable of executing requests synchronously as well as asynchronously. 

How to choose the best Bot Platform Software?

Selecting the right Bot Platform can be challenging. Below are the combinations of features that can be considered while choosing Bot Platform Software.

Built-in NLP- The platform must feature basic support for natural language processing (NLP). What user should look for is language support, and how many different languages the platform can support.

The intent, Entity - These are basic necessities of the bot platform. User needs to define custom intents to design the bot dialog flow, and entities to exclusively identify important information coming from incoming user inputs. 

Dialog Flow Design- A bot development platform should enable the user to design the dialog flow.

Channel Agnostic-  Build a bot that can be exposed to multiple platforms, such as Facebook, Slack, or even Alexa. 

Backend Integration/API-driven- Platforms should provide a way to integrate existing backend.

Easy to update and learn- Check how easy is it to introduce new flows in the conversation model or if it can be integrated into a new backend or update utterances to existing intents. 

Market Trends in Bot Platform Software 2020:

  • AI-driven Bots
  • Ability to store customer data for analysis
  • Voice experiences becoming mainstream
  • Conversational bots
  • Natural language understanding
  • Automated call centers with AI technology
  • The rise in messaging apps
  • The virtual assistant takes the place of apps

Frequently Asked Questions

  • 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 2020

Comparing 26 vendors in Bot Platform Software across 92 criteria.
4 Experts are advising 51 buyers
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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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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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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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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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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.

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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.

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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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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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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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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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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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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.

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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.

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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.

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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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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.

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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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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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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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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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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.

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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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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.

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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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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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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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