Autonomous AI and Autonomous Agents Market Size & Share, by Offering (Hardware, Services, Software [Software Type (Computational Agents, Robotic Agents)]; Deployment (Cloud, On-premises); Technology (Machine Learning, Natural Language Processing, Context Awareness, Computer Vision); Vertical (BFSI, Retail and E-commerce, Telecommunications, Manufacturing, Healthcare and Life Sciences, Energy & Utilities, Automotive, Government & Defence, Media & Entertainment) - Global Supply & Demand Analysis,

  • Report ID: 5948
  • Published Date: Apr 02, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Autonomous AI and Autonomous Agents Market size is anticipated to reach USD 508 Billion by the end of 2036, growing at a CAGR of 36% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of autonomous AI and autonomous agents was USD 40 Billion. One of the key drivers for market growth is the growing applications of AI in different sectors. As per a report in 2024, across a broad range of technology products and business processes, 22% of enterprises are actively integrating AI into their operations. In various sectors, including healthcare, finance, transportation, and manufacturing, the use of AI is increasing to deal with difficult problems and improve processes. To gain an important understanding of the situation and to make intelligent choices, these applications use advanced algorithms, machine learning techniques as well as data analysis. 

Autonomous systems are designed to operate without human intervention, eliminating risks related to fatigue, distraction, and supervision. Autonomous AI systems can make split-second decisions, using data analysis to mitigate the potential for accidents and mistakes as well as improve overall security and reliability in sectors such as transport and healthcare. Therefore, these factors are accelerating the growth of the market.


AI
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Autonomous AI and Autonomous Agents Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Adoption in Healthcare Settings - The use of AI in the healthcare sector presents a remarkable opportunity. Autonomous AI has tremendous potential to transform diagnostics, treatment, and health care within the healthcare sector. Autonomous AI systems, which can analyze medical images with remarkable accuracy and assist healthcare professionals in the early detection of diseases and accurate diagnosis, can analyze X-rays and MRI scans. For instance, in a study carried out in 2022, 44% of respondents indicated they were prepared to believe that AI can diagnose and treat diseases. By rapidly analyzing vast sets of data and finding potential therapeutic substances, these systems support the process of discovering drugs as well as accelerate medical progress and improve patients' outcomes. Therefore, to assist healthcare professionals in the correct diagnosis, autonomous AI can analyze a great deal of medical data such as patient records, and laboratory results, which is propelling the market growth.
  • Growing Funding and Supportive Initiatives by the Government - Advances in autonomous technologies are supported by increased financing and support initiatives. Governments' investment accelerates the development and adoption of autonomous AI solutions across the sector, increasing the size of the market, as they recognize the strategic importance of AI. For instance, in the United States, several National Artificial Intelligence Research Institutes were set up by the National Science Foundation dedicated to various areas of artificial intelligence and USD 1 billion in grants have been awarded by the US government for 12 new AI and quantum research laboratories. Similarly, Singapore has set up the Centre of Excellence for Testing & Research of Autonomous Vehicles (CETRAN) in collaboration with Nanyang Technological University.
  • Surge in the Demand for Edge AI Computing - Edge AI computing is an evolving trend in the autonomous AI and autonomous agents market, emphasizing decentralized Instead of using only central cloud computing, processing will be performed locally on devices. This shift results in more rapid decision-making, by processing data closer to its source, and by improving the efficiency of its operations, privacy has been improved. About latency, bandwidth usage, and data security, it is particularly useful for applications in real-time processing Internet of Things (IoT) devices, and scenarios in which reliance on the Cloud may be impracticable or ineffective.

Challenges

  • Limited Awareness and Adaptability - A major limitation to the effectiveness of independent AI and agents in different areas is limited adaptability and contextual awareness. The complexity of human interactions and the dynamic nature of real-world scenarios contribute to these constraints. AI systems often face challenges adapting to unfamiliar situations or dealing with unpredictable environments, even when they excel at specific tasks within predefined parameters. Conceptual understanding, which involves discussing the situation, understanding, and responding appropriately to various prompts and environmental factors, presents a challenge to the AI algorithms' task. Therefore, this factor may hinder the growth of the autonomous AI and autonomous agents market.
  • Concerns Regarding Data Protection and Privacy may Hamper the Growth of the Market
  • Safety and Legal Concerns may Impede the Market from Growing

Autonomous AI and Autonomous Agents Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 36%

Base Year Market Size (2023)

 ~ USD 40 Billion

Forecast Year Market Size (2036)

 ~ USD 508 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Autonomous AI and Autonomous Agents Segmentation

Deployment (Cloud, On-premises)

Cloud segment in the autonomous AI and autonomous agents market is anticipated to hold a share of 56% during the forecast period. Its role in the facilitation of centralized storage, processing, and collaboration is to be attributed to this increase. Cloud computing enables the seamless integration and updating of autonomous agents in a network of independent agents, by supporting resource-intensive artificial intelligence tasks. Also, the power of predictive analytics and business intelligence is unlocked by the combination of cloud computing with artificial intelligence. With this dynamic fusion, enterprises can take advantage of vast amounts of data and transform it into useful information. Therefore, the adoption of business intelligence is also driving the growth of the segment. According to a report, 26% of global enterprises have implemented BI and over 33 % of the world's largest companies are expected to use Decision Intelligence by 2023. This centralized approach, which is an important tool for the deployment and management of increasingly advanced AI systems that will contribute to segment expansion, improves scalability, collaboration, and accessibility.

Technology (Machine Learning, Natural Language Processing, Context Awareness, Computer Vision)

Machine learning segment in the Autonomous autonomous AI and autonomous agents market is expected to grow majorly with a share of 40% during the forecast period. The segment is expanding due to its major role in enhancing system capabilities. Machine learning algorithms allow these systems to adapt and evolve based on data patterns, optimal performance, and decision-making. The reliance on machine learning is becoming paramount, driving segment growth, as demand for more intelligent and autonomous solutions increases across different sectors. Also, machine learning algorithms are very reliable when it comes to managing a lot of data sets. These data sets may span from simple real-world customer feedback to multidimensional data; machine learning algorithms can efficiently deal with any type of inquiry related to data.

Our in-depth analysis of the global market includes the following segments:

         Offering

  • Hardware
  • Services
  • Software
    • Software Type
      • Computational Agents
      • Robotic Agents

          Deployment

  • Cloud
  • On-premises

          Technology

  • Machine Learning
  • Natural Language Processing
  • Context Awareness
  • Computer Vision

          Vertical

  • BFSI
  • Retail and E-commerce
  • Telecommunications, Manufacturing
  • Healthcare and Life Sciences
  • Energy & Utilities
  • Automotive
  • Government & Defence
  • Media & Entertainment

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Autonomous AI and Autonomous Agents Industry - Regional Synopsis

North American Market Forecast

North American autonomous AI and autonomous agents market is poised to hold the largest share of 37% during the forecast period. The US and Canada are leading regions in the development and adoption of autonomous AI and autonomous agents. Major technology companies, research institutions, and start-ups are located in this region, which is at the forefront of AI development. The US and Canada, which are both underpinned by their mature industries as well as a high focus on innovation and technology that leads to the adoption of autonomous artificial intelligence and agent computing solutions, have been at the forefront of this growth.

APAC Market Statistics

Asia Pacific autonomous AI and autonomous agents market is anticipated to hold a significant share of 26% by the end of 2036. Due to the growing adoption of cloud services by SMEs, the market in this region is expected to grow. The surge in the demand for internet access and the adoption of smartphones in developing nations such as China, India, and Japan are accelerating the growth of the market. As per a report, in the Asia Pacific region, more than 2.6 billion internet users will be added by 2022. Accordingly, in order to support the thriving e-commerce sector, demand for autonomous AI solutions is growing.

Research Nester
Autonomous AI and Autonomous Agents Market Regional
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Companies Dominating the Autonomous AI and Autonomous Agents Landscape

top-features-companies
    • Amazon Web Services, Inc. (AWS)
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Microsoft
    • Bosch
    • Google
    • Waymo LLC
    • OpenAI
    • SAP SE
    • CognosysAI
    • ServiceNow
    • Nvidia Corporation​​​​​​

In-the-news

In The News

  • September 2023 - Amazon Web Services, Inc., a subsidiary of Amazon.com, Inc., announced five generative artificial intelligence innovations that enable organizations of all sizes to build new generative AI applications, increase employee productivity, and transform their businesses. The general availability of Amazon Bedrock, a fully managed service that enables foundation models to be made available from leading AI companies via one application programming interface API.
  • February 2024 - To enhance automated driving, Bosch is following the use of AI in collaboration with Microsoft to leverage the power of generative AI.
  • December 2023 - Dai Nippon Printing Co., Ltd. is developing a technology for formatting different documents such as PDF or Word into data formats that are suitable for training artificial intelligence. The artificial intelligence that creates it will reduce the number of incorrect answers and lack of response by studying and comparing data formats using this technology, thereby obtaining high-accuracy answers.
  • July 2023 - NEC has created Generative AI, which can be tailored to customer needs, and is developing a Large Language Model of ML to take on the challenge of creating new business value for Japan's companies through changes within the Industry via Generative AI. NEC Generative AI Advanced is a software application that connects NEC's expertise to its customers' knowledge and provides them with complete support in the design of models for their clients, development of LLM applications as well as the establishment of organizations.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 5948
  • Published Date: Apr 02, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing adoption in healthcare settings, rising funding and supportive initiatives by the government, and a surge in the demand for edge AI computing are the major factors driving the growth of the autonomous AI and autonomous agents market.

The market size of autonomous AI and autonomous agents is anticipated to attain a CAGR of 36% over the forecast period, i.e., 2024-2036.

The major players in the market are Amazon Web Services, Inc. (AWS), Microsoft, Bosch, Google, Waymo LLC, OpenAI, SAP SE, CognosysAI, ServiceNow, Nvidia Corporation, and others.

The cloud segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Autonomous AI and Autonomous Agents Market Report Scope
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