Global Autonomous AI and Autonomous Agents Market 2023-2030

Global Autonomous AI and Autonomous Agents Market 2023-2030

Global Autonomous AI and Autonomous Agents Market Size, Share & Trends Analysis Report by Vertical BFSI, Healthcare & Lifesciences, IT & Telecom, Retail & E-commerce, Media & Entertainment, Energy & Power, Automotive, Transportation & Logistics, Government & Defense, Manufacturing and Others), by Technology (Machine Learning, Natural Language Processing, Context Awareness and Computer Vision), and by Offering (Software, Hardware and Services), Forecast Period (2023-2030)

The global autonomous AI and autonomous agents market is anticipated to grow at a significant CAGR of 11.6% during the forecast period (2023-2030). The rise in the adoption of AI-based applications across several verticals majorly drives the growth of the global autonomous AI and autonomous agents market. AI is used in almost all major areas and fields, as it not only helps to improve development but also the growth of these autonomous agents. Moreover, the rise in demand for autonomous agents among end users, owing to its numerous benefits such as constantly improved performance, increased efficiency to access real-time information, and rise in scalability further fuel the growth of the autonomous agents market. Furthermore, the rise in applications of autonomous agents such as smart homes, mobile robots, self-driving cars, and intelligent factories provides lucrative opportunities for the autonomous agents’ market growth. In addition, ongoing advancements in artificial intelligence (AI) and machine learning (ML) along with growth in cloud deployments are expected to provide lucrative opportunities for the market. To meet the growing demand for autonomous agents in end-user verticals, in March 2023, Google Cloud, a subsidiary of Google LLC, teamed up with Oxbotica, an autonomous vehicle software developer. This collaboration would help to facilitate the deployment of autonomous software platforms for clients across the globe.

Segmental Outlook

The global autonomous AI and autonomous agents market is segmented on the vertical, technology, and offering. Based on the vertical, the market is sub-segmented into BFSI, healthcare & life sciences, IT &telecom, retail and e-commerce, media & entertainment, energy & power, automotive, transportation & logistics, government & defense, manufacturing, and others. Based on the technology, the market is sub-segmented into machine learning, natural language processing, context awareness, and computer vision. Further, on the basis of offering, the market is sub-segmented into software, hardware, and services. Among the technology, the machine learning sub-segment is anticipated to hold a considerable share of the market owing to the rise in the accuracy of predictions or adapts the system's behavior in response to new data.

The BFSI Sub-Segment is Anticipated to Hold a Considerable Share of the Global Autonomous AI and Autonomous Agents Market

Among the verticals, the BFSI sub-segment is expected to hold a considerable share of the global autonomous AI and autonomous agents market. The segmental growth is attributed to the growing influence of several social media platforms on the financial expenditures of the global population. The BFSI (Banking, Financial Services, and Insurance) sector has experienced a transformative impact from Autonomous Al and Autonomous Agents, revolutionizing how financial institutions operate and deliver services. These advanced technologies offer unparalleled opportunities for automation, enhanced decision-making, and improved customer experiences. Autonomous Al systems in the BFSI sector leverage machine learning algorithms to analyze vast amounts of financial data, and doted patterns, and make autonomous decisions in areas such as fraud detection, risk management, and investment strategies. In May2023 NVIDIA Corp. signed a partnership with ServiceNow, Inc., an American software company. Following this partnership, both companies would create powerful, top-notch generative AI capabilities that can change business processes with quicker and highly intelligent workflow automation.

Regional Outlook

The global autonomous AI and autonomous agents market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the rising tide of AI applications in a variety of disciplines is a major factor in the development of autonomous AI and agents. The presence of key market player including Waymo (Alphabet Inc.), Tesla, Inc., NVIDIA Corp., Aurora Innovation and others across the region has further contributed to the high share of the regional market.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Autonomous AI and Autonomous Agents Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to innovative developments and early adoption of products, with respect to Natural Language Processing (NLP), Artificial Intelligence (Al), and Machine Learning (ML). Even though the globe is adopting these trends, Asia-Pacific is prevailing owing to the positive development of the global autonomous agents’ market. Other factors such as better funding options, state-of-the-art infrastructure, conducive surroundings for R&D, a huge customer base, and availability of a trained workforce are further contributing to the regional market growth.

Moreover, autonomous agents firms in the region are focusing on improved revenues, and global reach owing to cutting-throat competition among the players, and rising demand in the region. Besides, China and India are the key contributors to the adoption of emerging technologies, as they are among the most developed nations across the globe, owing to a developed economy, the funding opportunities in the market of autonomous agents technologies are foreseen to rise in the coming years.

Market Players Outlook

The major companies serving the autonomous AI and autonomous agents market include IBM Corp., Microsoft Corp., Google LLC (Alphabet Inc.), NVIDIA Corp. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, SAP SE entered into a partnership with IBM Corporation, an American multinational technology corporation. Under this partnership, both companies would combine the latter’s Watson AI engine over their complete solutions portfolio, consisting of SAP Business One, S/4 HANA Cloud, SAP S/4 HANA, and SAP Business By Design.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global autonomous AI and autonomous agents market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.