Richmond, Nov. 10, 2023 (GLOBE NEWSWIRE) -- According to a research report "Autonomous AI and Autonomous Agents Market By Offering (Hardware, Software, Services), Deployment (Cloud, On-premises), Technology (Machine Learning {Deep Learning, Supervised Learning, Unsupervised Learning, Reinforcement Learning, Large Language Models} Natural Language Processing, Context Awareness, Computer Vision), Vertical (BFSI, Retail and Ecommerce, Telecommunications, Manufacturing, Healthcare and Life Sciences, Energy & Utilities, Automotive, Transportations, and Logistics, Government & Defense, Media & Entertainment), and Region.
Global Autonomous AI and Autonomous Agents Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 4.8 billion |
| Market size value in 2030 | USD 64.69 billion |
| CAGR (2023-2030) | 45% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Component, End User, Region and Geography |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Autonomous AI and Autonomous Agents Market
175 - Market Data Tables
65 - List of Figures
230 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The terms "autonomous" and "self-driving" are employed to characterize artificial intelligence systems capable of autonomous operation and decision-making, free from human intervention. This was especially evident during the initial phases of self-driving vehicle development, with companies like Waymo, Tesla, and established automakers working on autonomous cars. Simultaneously, autonomous agents were focusing on the creation of virtual assistants, exemplified by Amazon's Alexa, Apple's Siri, and Google's Assistant. Through the utilization of machine learning (ML) and natural language processing (NLP) for comprehending and responding to user inquiries, these virtual assistants progressed to become more sophisticated and self-reliant. These advanced technologies offer unprecedented prospects for automation, enhanced decision-making, and elevated customer service. Within the Banking, Financial Services, and Insurance (BFSI) sector, autonomous AI systems leverage machine learning algorithms to analyze extensive quantities of financial data, identify patterns, and autonomously make decisions regarding fraud detection, risk assessment, and investment tactics.
Major vendors in the global Autonomous AI and Autonomous Agents Market - Airbus, Alenspace, Astrocast, Eutelsat, Fleetspace Technologies, Fossa Systems, Globalstar, Head Aerospace, I.M.T. SRL, Inmarsat Global, Intelsat, Iridium Communication, Kepler Communications, Kineis, Myriota and Others.
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Rising Al applications acting as a driving force for the growth of Autonomous AI and Agents.
The growing proliferation of Artificial Intelligence (AI) applications is playing a pivotal role in propelling the expansion of the Autonomous AI and Autonomous Agents market. As AI technologies continue to advance, they are increasingly integrated into various industries and sectors, fueling demand for autonomous systems and intelligent agents. These applications range from self-driving vehicles and chatbots to industrial robots and smart virtual assistants. Their adoption not only enhances efficiency and automation but also presents new possibilities for autonomous AI and agents, creating a dynamic market landscape where innovations driven by AI capabilities are reshaping industries and inspiring further development in autonomous systems and agents. This trend is expected to drive substantial growth and innovation in the Autonomous AI and Autonomous Agents market in the coming years.
Market Dynamics
Drivers:
- Increasing Advancement in Ai and ML Technologies
- Increasing implementation of autonomous AI and agents
- Growing the Automation across the several industry
Opportunities:
- Increasing Rapid Technological Advancements
- The growing smart home and IoT market
Increasing AI and IoT Innovation in the Market
The integration of artificial intelligence (AI) with the Internet of Things (IoT) is becoming increasingly prevalent, enabling autonomous agents to interact with and control a wide range of connected devices and systems. This trend is leading to more intelligent and responsive IoT ecosystems, where autonomous agents can analyze data from sensors, cameras, and other IoT devices to make real-time decisions and take autonomous actions. This convergence is particularly prominent in areas like smart homes, industrial automation, and autonomous transportation, where AI-powered agents are enhancing the efficiency, safety, and convenience of IoT-driven environments. As AI and IoT technologies continue to evolve and intertwine, the Autonomous AI and Autonomous Agents Market is poised to experience significant growth and innovation.
The market for Autonomous AI and Autonomous Agents Market is dominated by North America.
The North American region dominated the Autonomous AI and Autonomous Agents Market with the highest market share. The supremacy of the region can be credited to its extensive use of cloud computing, increasing embrace of omnichannel strategies, and the surging need for analytics and intelligence across various industries. Moreover, the presence of numerous prominent enterprises reinforces North America's standing in the market. Notably, the United States and Canada emerge as significant drivers of this expansion, primarily owing to their well-established and advanced industrial sectors, along with a pronounced commitment to innovation and technology. These factors drive the adoption of solutions related to autonomous AI and autonomous agents.
The Asia Pacific region is poised to exhibit the most rapid Compound Annual Growth Rate (CAGR) during the forecast period. This surge is attributed to the increasing appetite for cloud-based services among small and medium-sized enterprises (SMEs) across Asia Pacific. SMEs are recognizing the benefits of cloud solutions and are actively contributing to the market's expansion by incorporating these technologies to improve their operational efficiency and competitive edge. Notably, countries such as China, India, and Japan are witnessing robust economic development, marked by a swift rise in internet access and smartphone adoption. These factors, in turn, are propelling the demand for effective autonomous AI solutions to support the thriving e-commerce sector. Furthermore, substantial investments by both governments and businesses in cloud-based security services are further stimulating the demand for security-focused cloud solutions in the region.
Software Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
The software segment took the lead in 2022, capturing a substantial revenue share of over 43.4%. This growth in the software market can be attributed to the continuous evolution and adaptation of systems over time, enabling them to learn from their environment and operate autonomously. Autonomous agents, which are essentially software or programs, are capable of performing tasks and making decisions on behalf of users or systems without human intervention. These agents are meticulously designed to achieve specific objectives while interacting with their surroundings or other autonomous agents. For instance, chatbots exemplify self-service agents that can engage with users through text or voice, respond to inquiries, provide information, and even carry out tasks like scheduling appointments or placing orders. In another example, in March 2023, a U.S.-based software company named Adept secured a funding of USD 350 million for the development of a digital assistant, an AI model capable of translating text commands into actionable sets of tasks.
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