The Autonomous Agents Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Autonomous Agents Global Market Report 2024, The autonomous agents market size has grown exponentially in recent years. It will grow from $1.78 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 51.9%. The growth in the historic period can be attributed to advancements in artificial intelligence (AI), increased data availability, rise of internet of things (iot), demand for automation, integration with robotic systems.
The autonomous agents market size is expected to see exponential growth in the next few years. It will grow to $14.31 billion in 2028 at a compound annual growth rate (CAGR) of 51.6%. The growth in the forecast period can be attributed to exponential growth of edge computing, advancements in natural language processing (nlp), focus on explainable ai (xai), regulatory frameworks for autonomous systems, enhanced security measures. Major trends in the forecast period include cross-industry collaboration, increased adoption of 5g technology, cloud computing infrastructure, swarm robotics, reinforcement learning advancements.
Growing automation across several industries is expected to propel the growth of the autonomous agent market going forward. Automation refers to the use of technology to execute tasks with minimal human involvement by employing various tools and techniques to replace manual effort with machines, software, or programmed processes. Autonomous agents are used in automation as they enable one to perform tasks faster and more accurately than humans by automating repetitive, time-consuming tasks and enabling more efficient processes. For instance, in December 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union, around 28% of large EU enterprises used artificial intelligence technologies, and 8% of EU enterprises had implemented artificial intelligence technologies in 2021. Additionally, around 53% of EU enterprises implemented ready-to-use commercial artificial intelligence software or systems in 2021. Therefore, growing automation across several industries is driving the autonomous agent market.
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The autonomous agents market covered in this report is segmented –
1) By Deployment Type: Cloud, On-Premises
2) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
3) By End User: Information Technology And Telecommunication, Banking, Financial Services And Insurance (BSFI), Healthcare, Transportation And Mobility, Manufacturing, Other End Users
Top Major Players
Amazon Web Services
Alphabet Inc.
Microsoft Corporation
The Boeing Company
Intel Corporation
Major companies operating in the autonomous agent market are increasing their focus on developing innovative autonomy platforms, such as BrainOS, to gain a competitive edge in the market. An autonomy platform is a comprehensive software and hardware framework that allows autonomous systems (such as robots or unmanned vehicles) to independently make decisions without human intervention. For instance, in November 2022, Brain Crop, a US-based AI software company, launched its third-generation autonomy platform, BrainOS, to power the next generation of autonomous commercial robots. This platform offers original equipment manufacturers (OEMs) a shorter time to market for high-volume automated robotics and data collection products. The new platform is expected to enable various robotic advances, including improved localization and navigation performance, enhanced safety and reliability, improved human-robot interaction, and a modular architecture for faster and easier product development.
The autonomous agents market report table of contents includes:
1. Executive Summary
2. Autonomous Agents Market Characteristics
3. Autonomous Agents Market Trends And Strategies
4. Autonomous Agents Market - Macro Economic Scenario
5. Global Autonomous Agents Market Size and Growth
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32. Global Autonomous Agents Market Competitive Benchmarking
33. Global Autonomous Agents Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Autonomous Agents Market
35. Autonomous Agents Market Future Outlook and Potential Analysis
36. Appendix
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The titled, Autonomous Agents Market report issued by MarketsandMarkets™ would help to identify the strategic overview of Autonomous Agents Industry growth and continue to driven by presence of prominent players across the globe.According to a new market research report "Autonomous Agents Market by Deployment Type (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, IT and Telecom, Manufacturing, Healthcare, Transportation and Mobility), and Region - Global Forecast to 2024" published by MarketsandMarkets™, the Autonomous Agents Market expected to grow from USD 345 million in 2019 to USD 2,992 million by 2024, at a Compound Annual Growth Rate (CAGR) of 54% during the forecast period.The major factors driving the Autonomous Agents Market include the growing adoption of AI-based applications and increased availability of parallel computing resources.Browse in-depth TOC on "Autonomous Agents Market” 31- Tables 29- Figures95- PagesAsk for Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201425821The on-premises segment to hold the highest market share in the global Autonomous Agents Market during the forecast periodOn-premises deployment of autonomous agents solutions requires initial high investment by organizations, though it does not require incremental costs throughout the ownership, as in the case of cloud deployment type.
These types of deployments are popular across large-sized enterprises.SMEs to grow with the fastest CAGR during the forecast periodAutonomous agents assist Small and Medium-sized Enterprises (SMEs) to automate the business process that reduces the necessity for humans to perform the tedious task.
Cost-effectiveness is an essential need for SMEs, as they are always constrained by limited budgets, which leaves them with limited ways to market themselves and gain visibility.
To compete with large organizations, SMEs are expected to adopt autonomous agents at a higher rate during the forecast period, to enhance operational productivity.Speak to our Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=201425821North America to have the largest market size during the forecast periodNorth America is expected to hold the largest market size during the forecast period in the Autonomous Agents Market, owing to the early adoption and host to innovative initiatives for Artificial Intelligence (AI), Natural Language Processing (NLP), and Machine Learning (ML).
Though the trend is observed globally, in North America, it has prevailed due to the presence of the following factors affecting the development and growth of autonomous agents: state-of-the-art infrastructure, high funding opportunities, widespread customer base across several industries, conducive environment for innovation, and availability of highly-skilled workforce.
Furthermore, autonomous agents companies in this region are targeting higher revenues and business expansions due to the stiff competition and demand prevailing across the North American region.
Global Autonomous Agents Market is expected to grow from US$ 341.2 Mn in 2018 to US$4987.3 Mn by 2026, at a CAGR of 39.83% during the forecast period.The autonomous agents market is driven by many factors, like increasing number of AI applications, increased availability of parallel computational resources, growth of large and complex data sets driving the need for autonomous agents.
Challenges faced by the autonomous agents market are limited use cases of autonomous agents, increased network complexity, data privacy and security concerns.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.IT and Telecom segment is expected to grow at the highest CAGR during the forecast period.
The IT and Telecom vertical is considered by the increased complexity of communication networks to support advanced technologies, for instance, software-defined – wide area network and network function virtualization.
The IT and telecom vertical has increased demand for intelligent and optimized network operations to provide to the demand for communication service suppliers.
The Asia-Pacific will occupy more market share in the following years, especially in China, also fast rising India and South Asia regions.
Emerging economies, for instance India, Singapore, and Malaysia are looking forward to integrating new technologies into their businesses.
