What Does the Historical and Current Autonomous AI And Autonomous Agents Market Size Trend Indicate?
The autonomous ai and autonomous agents market has seen considerable growth due to a variety of factors.
•The market size for autonomous AI and autonomous agents has seen a huge rise in the past few years. The market, which is predicted to be worth $6.97 billion in 2024, is estimated to further increase to $9.93 billion in 2025. This denotes a Compound Annual Growth Rate (CAGR) of 42.5%.
The impressive growth during the historical period is primarily due to factors such as growing computing power, the expansion of the internet of things (IoT), seamless integration from the edge to the cloud, improved connectivity infrastructure, and a rising demand for automation.
How Will the Autonomous AI And Autonomous Agents Market Size Evolve over the Forecast Period?
The autonomous ai and autonomous agents market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for autonomous AI and autonomous agents is predicted to experience significant growth in the forthcoming years, expecting to reach $44.76 billion by 2029, with a compound annual growth rate of 45.7%.
Reasons attributed to this predicted growth over the forecast period are the increase in customization and personalization of AI solutions, a heightened focus on cybersecurity in AI systems, the wide uptake of AI in healthcare applications, a surge in demand for industry-oriented solutions, and the emergence of edge intelligence. Major trends projected over the forecast period include breakthroughs in machine learning, advancements in sensor technologies, improvements in computer vision, the evolution of robotic operating systems, progress in natural language processing, and the development of AI-operated virtual assistants and chatbots.
What Are The Core Factors Supporting Growth In The Autonomous AI And Autonomous Agents Market?
The expansion of artificial intelligence (AI) applications is projected to fuel the growth of the autonomous AI and autonomous agents market. Essentially, AI applications involve the practical deployment and use of AI technology across diverse sectors and industries. Autonomous AI and autonomous agents leverage AI to boost efficiency, enhance decision-making processes, decrease risks, and save costs. As an example, in November 2022, Salesforce Inc., a US-based software firm, reported that 57% of businesses had turned to AI applications to enhance customer service in 2022. Further, in April 2023, Forbes Media LLC, a US-based media corporation, reported that 46% of business owners used AI for internal communications, 97% believed that ChatGPT could add value to their operations, while 73% of businesses planned to utilise AI-powered chatbots for instant messaging in 2022. Hence, the rise in AI applications is contributing to the growth of the autonomous AI market.
What Are The Major Segments Within The Global Autonomous AI And Autonomous Agents Market?
The autonomous ai and autonomous agents market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Context Awareness, Computer Vision
3) By Vertical: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Telecommunications, Manufacturing, Healthcare And Life Sciences, Energy And Utilities, Automotive, Transportations And Logistics, Government And Defense, Media And Entertainment, Other Verticals
Subsegments:
1) By Hardware: Sensors, Actuators, Computing Units, Robotics Platforms
2) By Software: Machine Learning Algorithms, Natural Language Processing (NLP) Software, Computer Vision Software, Simulation Software, Autonomous Navigation Software
3) By Service: Consulting Services, Integration Services, Maintenance And Support Services, Training And Development Services
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Which Trends Are Expected To Transform The Autonomous AI And Autonomous Agents Market?
Artificial Intelligence (AI) technology-based data platforms are gaining traction as a significant trend in the autonomous AI and autonomous agent marketplace. The prominent enterprises involved in this sector are concentrating their efforts on crafting revolutionary AI tech data platforms to fortify their market standing. For example, in May 2023, the US technology firm International Business Machines Corporation (IBM) introduced an innovative new AI and data platform, the Watsonx. This novel AI data platform's aim is to assist businesses in expanding and amplifying the impact of highly advanced AI with credible data. Watsonx, constructed on the foundation of IBM Cloud Pak for Data, carries numerous fresh features. These features simplify the process of building, deploying, and managing AI models for businesses. Furthermore, Watsonx proves to be a potent platform, aiding enterprises in enhancing efficiency, minimizing costs, improving precision, and boosting agility. It serves as a beneficial tool for businesses planning on embracing AI.
Who Are the Key Players in the Autonomous AI And Autonomous Agents Market?
Major companies operating in the autonomous ai and autonomous agents market include:
• Alphabet Inc.
• Microsoft Corporation
• Amazon Web Services Inc.
• Siemens AG
• Intel Corporation
• Accenture PLC
• International Business Machines (IBM) Corporation
• Oracle Corporation
• Schneider Electric
• NVIDIA Corporation
• Salesforce Inc.
• Cognizant Technology Solutions Corp.
• Infosys Limited
• Wipro Limited
• SAS Institute Inc.
• Waymo LLC
• Fair Isaac Corporation (FICO)
• UiPath
• DeepMind Technologies Limited
• Nuance Communications Inc.
• Blue River Technology
• OpenAI
• Fetch.ai
• Affectiva Inc.
• Cognitivescale
What Is The Most Dominant Region In The Autonomous AI And Autonomous Agents Market?
North America was the largest region in the autonomous AI and autonomous agents market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous ai and autonomous agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
