Autonomous AI and Autonomous Agents Market by Offering (Hardware, Software (Type (Computational Agents, Robotic Agents)) and Services), Technology (ML, NLP, Context Awareness, Computer Vision), Vertical and Region - Global Forecast to 2028
The global Autonomous AI and Autonomous Agents Market size was valued at USD 4.8 billion in 2023 and is expected to expand at a CAGR of 43.0% during the forecast period, reaching USD 28.5 billion by 2028. The expansion of autonomous AI and agents is propelled by various factors, including the rising adoption of AI applications, the improved accessibility of parallel computational resources, and advancements in autonomous driving and healthcare.
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Market Dynamics
Driver: Increasing AI Applications as a Catalyst for Autonomous AI and Agents
One significant driver for the rise of autonomous AI and agents is the increasing number of AI applications across diverse domains. From healthcare and finance to transportation and manufacturing, AI is being employed to solve complex problems and optimize processes. These applications leverage advanced algorithms, machine learning, and data analysis techniques to extract valuable insights and automate decision-making. As the demand for efficient and intelligent solutions grows, so does the need for autonomous AI systems and agents that can adapt and operate independently without constant human intervention.
Restraint: Limited Adaptability and Contextual Understanding in Autonomous AI and Agents
Limited adaptability and contextual understanding are significant restraints that impede the effectiveness of autonomous AI and agents in various domains. These restraints arise from the complexity of human interactions and the dynamic nature of real-world scenarios. While AI systems may excel at specific tasks within predefined parameters, they often struggle to adapt to unfamiliar situations or handle unpredictable environments. Contextual understanding, which involves interpreting and responding appropriately to diverse cues and environmental factors, presents a challenging task for AI algorithms.
Opportunity: Healthcare Advancements with Autonomous AI and Agents
Healthcare advancements present a remarkable opportunity for the application of autonomous AI and agents, revolutionizing the way medical care is delivered. These technologies have the potential to enhance diagnosis, treatment planning, and drug discovery, leading to improved patient outcomes and optimized healthcare delivery. Autonomous AI can analyze vast amounts of medical data, including patient records, lab results, and medical imaging, to assist healthcare professionals in accurate diagnosis.
Challenge: Ethical and legal concerns pose significant challenges for Market
As autonomous AI systems and agents become more advanced and pervasive, several ethical considerations arise. One major concern is the potential for accidents and harm caused by autonomous vehicles or robots. Determining liability in case of accidents involving autonomous systems raises complex legal questions. Legal frameworks and regulations often struggle to keep pace with rapidly evolving autonomous AI technologies. Establishing comprehensive legal frameworks that address liability, privacy, safety standards, and data protection becomes crucial.
By vertical, BFSI segment accounts for the largest market size during the forecast period
The BFSI (Banking, Financial Services, and Insurance) sector has experienced a transformative impact from Autonomous AI 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 AI systems in the BFSI sector leverage machine learning algorithms to analyze vast amounts of financial data, detect patterns, and make autonomous decisions in areas such as fraud detection, risk management, and investment strategies.
By services, the Training, Support, & Maintenance segment is projected to grow at the highest CAGR during the forecast period
Training, support, and maintenance services in the field of Autonomous AI and Agents are crucial for organizations seeking to utilize and maintain their AI systems effectively. Training services focus on empowering users with the necessary skills and knowledge to leverage the capabilities of AI technologies and agent systems. Support services encompass technical assistance and troubleshooting to address any issues or challenges that may arise during the operation of AI systems. Maintenance services focus on proactive monitoring, performance optimization, and regular updates to ensure the reliability and longevity of AI systems.
North America to account for the largest market size during the forecast period
North America, specifically the United States and Canada, is a leading region in the development and adoption of Autonomous AI and Autonomous Agents. The region is home to major technology companies, research institutions, and startups at the forefront of artificial intelligence advancements. Autonomous AI refers to the ability of AI systems to operate and make decisions without human intervention. In North America, autonomous AI finds applications in various sectors, including transportation, healthcare, finance, manufacturing, and entertainment.
Key Market Players
The Autonomous AI and Autonomous Agents vendors have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global market for Autonomous AI and Autonomous Agents are IBM (US), AWS (US), Microsoft (US), Oracle (US), Google (US), Waymo LLC (US), DeepMind (UK), OpenAI (US), Salesforce (US), SAP SE(Germany), NVIDIA Corporation (US), Baidu( China), ServiceNow (US), H2O.ai (US), Genesys(US), Aerogility (UK), Kore.ai (US), Fetch.ai (UK), Automation Anywhere (US), Tecnotree (Finland), C3.ai (US), Helpshift (US), Algotive (US), CognosysAI (US), Level AI (US), Mobileye (Israel), Deeproute.ai (China), Cogito (US), Uber Technologies (US), Attri (US).
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- Latest News, Updates & Trend analysis
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Report Metrics |
Details |
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Market size available for years |
2018–2028 |
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Base year considered |
2023 |
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Forecast period |
2023–2028 |
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Forecast units |
USD Billion |
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Segments covered |
Offering, Technology, Vertical, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
IBM (US), AWS (US), Microsoft (US), Oracle (US), Google (US), Waymo LLC (US), DeepMind (UK), OpenAI (US), Salesforce (US), SAP SE (Germany), NVIDIA Corporation (US), Baidu( China), ServiceNow (US), H2O.ai (US), Genesys(US), Aerogility (UK), Kore.ai (US), Fetch.ai (UK), Automation Anywhere (US), Tecnotree (Finland), C3.ai (US), Helpshift (US), Algotive (US), CognosysAI (US), Level AI (US), Mobileye (Israel), Deeproute.ai (China), Cogito (US), Uber Technologies (US), Attri (US). |
This research report categorizes the Autonomous AI and Autonomous Agents market based on Offering, Technology, Vertical, and Region.
By Offering:
- Hardware
-
Software
-
By Type
- Computational Agents
- Robotic Agents
- By Deployment:
-
By Type
- Cloud
- On-premises
- Services
By Technology:
-
Machine Learning
- Deep Learning
- Supervised Learning
- Unsupervised Learning
- Reinforcement Learning
- Large Language Models
- Natural Language Processing
- Context Awareness
- Computer Vision
By Vertical:
- BFSI
- Retail and Ecommerce
- Telecommunications
- Manufacturing
- Healthcare and Life Sciences
- Energy & Utilities
- Automotive, Transportations, and Logistics
- Government & Defense
- Media & Entertainment
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Recent Developments:
- In May 2023, IBM unveiled WatsonX, a new AI and data platform that will enable enterprises to scale and accelerate the impact of the most advanced AI with trusted data. WatsonX is a comprehensive platform that includes an AI development studio, a data store, and an AI governance toolkit.
- In March 2023, Amazon announced the Amazon Chime SDK integration with Amazon Lex for chatbots that allows builders to develop persistent conversational chat interfaces using a simplified architecture. This new integration enables builders to create AI-powered chat tools that understand natural language.
- In June 2022, Waymo announced a partnership with Uber under which Waymo Via’s self-driving trucks will be able to use Uber Freight’s network of shippers and carriers to find loads and book transportation. This will allow Waymo to expand its reach and offer its customers more options for shipping their goods.
- In, September 2021, Google Cloud announced a major upgrade to its Vertex AI platform, which includes expanded support for PyTorch and TensorFlow, new AutoML capabilities, and improved data preparation and management tools.
- In September 2020, IBM and ProMare announced the completion and launch of the Mayflower Autonomous Ship (MAS), a fully autonomous research vessel that is powered by IBM AI, automation, cloud, and edge technologies. The partnership between IBM and ProMare is a significant development in the field of autonomous shipping.
Frequently Asked Questions (FAQ):
What is Autonomous AI and Autonomous Agents?
Autonomous AI and autonomous agents refer to software programs that can carry out specific tasks autonomously, without requiring human intervention. These programs leverage algorithms and machine learning techniques to make decisions and enhance their performance over time.
Which countries are considered in the European region?
The report includes an analysis of the UK, Germany, France, Italy and Spain in the European region.
Which are key verticals adopting Autonomous AI and Autonomous Agents hardware, software and services?
Key verticals adopting Autonomous AI and Autonomous Agents hardware, software and services include BFSI, Retail & eCommerce, Healthcare & Lifesciences, Telecommunications, Automotive, Transportation & Logistics, Manufacturing, Energy & Utilities, Government & Defense, Media & Entertainment and others verticals, which comprise Agriculture, IT/ITes, and Real estate & construction.
Which are the key drivers supporting the market growth for Autonomous AI and Autonomous Agents?
The key drivers supporting the market growth for Autonomous AI and Autonomous Agents include Increasing AI Applications as a Catalyst for Autonomous AI and Agents and Increased availability of parallel Computational Resources.
Who are the key vendors in the market for Autonomous AI and Autonomous Agents?
The key vendors in the global Autonomous AI and Autonomous Agents market include are IBM (US), AWS (US), Microsoft (US), Oracle (US), Google (US), Waymo LLC (US), DeepMind (UK), OpenAI (US), Salesforce (US), SAP SE(Germany), NVIDIA Corporation (US), Baidu( China), ServiceNow (US), H2O.ai (US), Genesys(US), Aerogility (UK), Kore.ai (US), Fetch.ai (UK), Automation Anywhere (US), Tecnotree (Finland), C3.ai (US), Helpshift (US), Algotive (US), CognosysAI (US), Level AI (US), Mobileye (Israel), Deeproute.ai (China), Cogito (US), Uber Technologies (US), Attri (US).
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The research methodology for the global Autonomous AI and Autonomous Agents market report involved the use of extensive secondary sources and directories, as well as various reputed open-source databases, to identify and collect information useful for this technical and market-oriented study. In-depth interviews were conducted with various primary respondents, including key opinion leaders, subject matter experts, high-level executives of multiple companies offering Autonomous AI and Autonomous Agents offerings, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as assess the market prospects and industry trends.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information for the study. The secondary sources included annual reports; press releases and investor presentations of companies; white papers, certified publications, and articles from recognized associations and government publishing sources.
The secondary research was mainly used to obtain the key information about the industry’s value chain, the market’s monetary chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides of the autonomous AI & autonomous agents market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors providing autonomous AI & autonomous agents offerings; associated service providers; and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecast, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. Primary research was also undertaken to identify and validate the segmentation types; industry trends; key players; the competitive landscape of the market; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies.
In the complete market engineering process, both the top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform the market estimation and market forecast for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to record the critical information/insights throughout the report.
The following is the breakup of primary profiles:
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Market Size Estimation
For making market estimates and forecasting the autonomous AI & autonomous agents market and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global autonomous AI & autonomous agents market, using the revenue from the key companies and their offerings in the market. With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segments.
In the top-down approach, an exhaustive list of all the vendors offering was autonomous AI & autonomous agents prepared. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor’s offerings were evaluated based on the breadth of solution and service offerings, cloud type, and verticals. The aggregate of all the revenues of the companies was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
In the bottom-up approach, the adoption rate of Autonomous AI and Autonomous Agents solutions and services among different end-users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of Autonomous AI and Autonomous Agents solutions and services among industries, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
All the possible parameters that affect the market covered in the research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
- The pricing trend is assumed to vary over time.
- All the forecasts are made with the standard assumption that the accepted currency is USD.
- For the conversion of various currencies to USD, average historical exchange rates are used according to the year specified. For all the historical and current exchange rates required for calculations and currency conversions, the US Internal Revenue Service’s website is used.
- All the forecasts are made under the standard assumption that the globally accepted currency, USD, remains constant during the next five years.
- Vendor-side analysis: The market size estimates of associated solutions and services are factored in from the vendor side by assuming an average of licensing and subscription-based models of leading and innovative vendors.
- Demand/end-user analysis: End users operating in verticals across regions are analyzed in terms of market spending on Autonomous AI and Autonomous Agents solutions based on some of the key use cases. These factors for the Autonomous AI and Autonomous Agents tool industry per region are separately analyzed, and the average spending was extrapolated with an approximation based on assumed weightage. This factor is derived by averaging various market influencers, including recent developments, regulations, mergers and acquisitions, enterprise/SME adoption, startup ecosystem, IT spending, technology propensity and maturity, use cases, and the estimated number of organizations per region.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
Autonomous AI and autonomous agents are related concepts in the field of AI that involve the ability of systems or entities to act independently, make decisions, and perform tasks without continuous human intervention.
Autonomous AI refers to the development and deployment of AI systems that can operate and make decisions on their own without requiring explicit instructions or constant supervision from humans. These AI systems are designed to analyze data, learn from their environment, and adapt their behavior to achieve specific goals or objectives. They possess the capability to perceive their surroundings, reason about the information they gather, and take action accordingly. Autonomous AI is often employed in various applications, including autonomous vehicles, robotics, and smart home devices.
On the other hand, autonomous agents are software entities or computer programs that can act autonomously within their environment to accomplish tasks or goals. These agents have their own set of capabilities, such as perception, reasoning, decision-making, and actuation, enabling them to interact with their surroundings and make independent choices. Autonomous agents can be designed to operate in diverse contexts, ranging from virtual environments like video games to real-world scenarios such as intelligent personal assistants or trading bots.
Key Stakeholders
- Research organizations
- Third-party service providers
- Technology providers
- Cloud services providers
- AI consulting companies
- Independent software vendors (ISVs)
- Service providers and distributors
- Application development vendors
- System integrators
- Consultants/consultancy/advisory firms
- Training and education service providers
- Support and maintenance service providers
- Managed service providers
Report Objectives
- To define, describe, and forecast the autonomous AI & autonomous agents market based on offering, technology, vertical, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
- To analyze subsegments with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide the competitive landscape of the market
- To forecast the revenue of the market segments with respect to all the five major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America
- To profile the key players and comprehensively analyze the recent developments and their positioning related to the autonomous AI & autonomous agents market.
- To analyze competitive developments, such as mergers & acquisitions, product developments, and research & development (R&D) activities, in the market
- To analyze the impact of recession across all the regions across the autonomous AI & autonomous agents market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix provides a detailed comparison of the product portfolio of each company
Geographic Analysis as per Feasibility
- Further breakup of the North American market for Autonomous AI and Autonomous Agents
- Further breakup of the European market for Autonomous AI and Autonomous Agents
- Further breakup of the Asia Pacific market for Autonomous AI and Autonomous Agents
- Further breakup of the Middle East & Africa market for Autonomous AI and Autonomous Agents
- Further breakup of the Latin America market for Autonomous AI and Autonomous Agents
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Autonomous AI and Autonomous Agents Market