A new research report provides a framework for the global autonomous AI and Autonomous Agents market, projecting a significant growth trajectory, from $4.8 billion in 2023 to $64.7 billion by 2030, a CAGR of 45%.
The report, by MarketDigits, 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.
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.
As AI technologies continue to advance, they are increasingly integrated into various industries and sectors, fueling demand for autonomous systems and intelligent agents, the report found. 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, the research shows.
Other highlights of the report:
Increasing AI and IoT innovation. 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.
The North American region dominates 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 for growth. 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 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 at the epicenter. 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.
For more on the report, check out this link.
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