What are our data sources?
We use the data sources on the side for ranking solutions and awarding badges in voice bot platforms category. Our data sources in voice bot platforms category include;
Voice bot platforms help businesses build and rapidly deploy voice-enabled conversational AI solutions. Some of these platforms also allow non-tech employees to build voice-bots, thanks to their easy-to-use user interfaces.
To be categorized as a voice bot platform, a product must provide:
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We use the data sources on the side for ranking solutions and awarding badges in voice bot platforms category. Our data sources in voice bot platforms category include;
review websites
social media websites
search engine data for branded queries
According to the weighted combination of 7 data sources
Amazon Lex
Ideta
Mindsay
Replicant Voice
Aspect CXP Pro
Taking into account the latest metrics outlined below, these are the current voice bot platforms market leaders. Market leaders are not the overall leaders since market leadership doesn’t take into account growth rate.
Amazon Lex
Ideta
Mindsay
Replicant Voice
Aspect CXP Pro
These are the number of queries on search engines which include the brand name of the solution. Compared to other Conversational AI categories, Voice Bot Platforms is more concentrated in terms of top 3 companies’ share of search queries. Top 3 companies receive 64%, 15% more than the average of search queries in this area.
47 employees work for a typical company in this solution category which is 26 more than the number of employees for a typical company in the average solution category.
In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 8 companies with >10 employees are offering voice bot platforms. Top 3 products are developed by companies with a total of 100k employees. The largest company building voice bot platforms is AWS with more than 100,000 employees.
Taking into account the latest metrics outlined below, these are the fastest growing solutions:
Amazon Lex
Ideta
Mindsay
Replicant Voice
Aspect CXP Pro
We have analyzed reviews published in the last months. These were published in 4 review platforms as well as vendor websites where the vendor had provided a testimonial from a client whom we could connect to a real person.
These solutions have the best combination of high ratings from reviews and number of reviews when we take into account all their recent reviews.
This data is collected from customer reviews for all Voice Bot Platforms companies. The most positive word describing Voice Bot Platforms is “Easy to use” that is used in 11% of the reviews. The most negative one is “Difficult” with which is used in 3.00% of all the Voice Bot Platforms reviews.
According to customer reviews, most common company size for voice bot platforms customers is 1-50 Employees. Customers with 1-50 Employees make up 58% of voice bot platforms customers. For an average Conversational AI solution, customers with 1-50 Employees make up 21% of total customers.
These scores are the average scores collected from customer reviews for all Voice Bot Platforms. Voice Bot Platforms is most positively evaluated in terms of "Customer Service" but falls behind in "Ease of Use".
This category was searched on average for 5.7k times per month on search engines in 2022. This number has increased to 6.1k in 2023. If we compare with other conversational ai solutions, a typical solution was searched 814 times in 2022 and this increased to 816 in 2023.
Voice bots, also called voice-enabled chatbots, are AI-based software that take voice commands and reply by voice. They enable users to communicate faster compared to text based bots. Popular examples of voice bots Apple’s Siri, Amazon Alexa and Google Assistant. There are two types of voice bots:
Like chatbots, voice bots are able to not just recognize what the user says but to understand the customer’s intent and have two-way communication to solve the users’ problems. In addition to the technologies used in text based bots, voice bots also rely on transcription to first get user's commands in text form. They also rely on text-to-speech conversion to talk to users.
Voice bots work like text chatbots. For more information about chatbots you can visit our research on chatbots. An additional voice recognition step is required in voice bots compared to chatbots.
The steps can be summarized roughly:
1-Voice input is taken from the user with a device like a mobile phone or computer with a microphone.
2-This input is sent to the cloud in order to decode the message and understand the user intent.
3-The audio message is converted to text and the natural language processing models analyze the users’ requests.
4- The AI-based engines search for the most suitable answers or actions and create a response.
5-The answer is converted audio and shared with the user.
Using voice bots provide a better, more natural user interface. Companies can use voice bots to reduce call center costs and create more user friendly products.
The increase in mobile users results in an increase in the voice bot demand: Mobile devices provide ease of use in terms of voice applications. It is faster to describe any problem by talking than typing. The progression of speech and voice recognition technologies are supported by tech giants including Google, Apple, Microsoft and Amazon, as well as Baidu, Xiaomi and Alibaba.
Voice-bot adds value to contact centers by reducing queue time and therefore improving customer satisfaction. The problem-solving process of users with call center takes less time than the waiting period. By working 24/7 and with the ability to scale up according to demand, voice-bots eliminate wait times.
The market size is increasing as the demand for chatbots and voice bots: IBM points out that businesses spend $1.3 trillion on 265 billion customer service calls each year. The process can be automated partially by using voice bots.
There are two main reasons why voice bots are preferred to chatbots.
Speaking is a faster way to explain a problem than typing: Especially for older people, typing is slower than talking in describing a problem. On the other hand, according to PWC research, younger people tend to use voice assistants. It shows that voice bots are more useful for both younger and older people in terms of ease of use and faster communication.
People tend to prefer a human-like interaction to tell their problems: Voice bots provide smoother, more human-like interactions
Many tech giants invested in voice technologies in recent years. A disadvantage of voice bot over textual chatbots is the speech recognition time. With the advances in both natural language understanding and speech recognition technologies, launching a voice bot is not significantly more challenging than launching a text based chatbot.
There are four different points to consider while choosing a voice bot provider.