Autonomous Agents Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 57.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Autonomous Agents Market Analysis
The Autonomous Agents Market is expected to register a CAGR of 57% over the forecast period 2021 to 2026. The autonomous agents market is getting traction as a result of significant stress on automating business processes with minimum human interference. The market is chiefly dominated by the IT and telecom industry as a vital end-user vertical for improving the customer experience. Heightened automation and agility, demand for delivering enhanced customer experience, and elevated cost savings and return on investment are some of the principal growth factors for the autonomous agents' industry.
- Mobility and independent decision-making are growing important over several business verticals. The assembly of autonomous agents with operations helps in enhancing user experience. For instance, in April 2019, the principal retail firm Walmart stated the installation of thousands of robots into its workforce for floor cleaning and inventory management across the U.S. to improve customer experience.
- By deployment type, the cloud segment on account of the growing adoption of artificial intelligence across several enterprise organizations is expected to be a more significant contributor to the forecast period's autonomous agents' market growth.
- According to SAP SE, nearly 60% of companies and 75% of digital leaders in the MENA region planed to invest in the cloud by 2019. Also, most of the companies are shifting to cloud from on-premise AI, due to faster delivery time with low latency and real-time tracking. This is likely to foster the studied market growth during the forecast period.
- Moreover, in June 2019, Oracle introduced the Autonomous Database Dedicated, a private database service within the public cloud. This service focuses on assisting customers with high security and operational policy requirements, providing cloud database management services.
- The market is principally dominated by the IT and telecom industry as an essential end-user vertical for enhancing the customer experience. Favorable economic conditions and increasing digitalization is anticipated to generate a positive outlook for the market players during the forecast period.
- Telcos are capitalizing on increasing demands for higher quality services and better customer experience (CX) opportunities by leveraging the vast amounts of data collected over the years from their massive customer bases.
- However, the absence of a skilled workforce may hinder the growth of the autonomous agents market. On the other hand, progress in machine learning and artificial intelligence are expected to offer profitable possibilities to the key companies of the Autonomous Agents market during the forecast period.
Autonomous Agents Market Trends
This section covers the major market trends shaping the Autonomous Agents Market according to our research experts:
Transportation and Mobility Segments to Dominate the Market
- The global Autonomous Agents market is expanding with the progress of technologies over numerous industries. Automation in the automotive sector is prophesied to support the projection period's autonomous agents' market growth. For instance, in July 2019, Zhejiang Geely Holding Group and Japan's Toyota Motor Corp enrolled in a partnership with Baidu Inc to reach Apollo Minibus, a level 4 autonomous shuttle, to Toyota's e-Palette, to enable mobility solution for e-commerce retail channels in the future.
- Apart from that, Transportation and Mobility segments to be one of the most significant contributors for Autonomous Agents Market growth, as according to IFC (International Finance Corporation), AVs (Autonomous Vehicles) could reduce traffic fatalities by up to 90% by 2050 in some developed countries. Tesla’s initial attempt at an AV decreased accident rates by 40% when self-driving technologies were initiated.
- E-logistics is the most encouraging area for direct investment possibilities that involve AI applications in Autonomous Agents. Poor roads, unreliable tracking and routing, suboptimal truck utilization, and a shortage of transparency in cargo movement hinder the efficiency of traditional logistics. World Bank in 2019, reported that over USD 4.2 billion had been invested in the global e-logistics sector as of December 2017.
- Also, according to IFC, developed countries usually spend between 6% and 8% of GDP on logistics, these costs can range from 15% to 25% in some developing countries. In particular, the field of e-logistics in which Internet-related technologies are applied to the supply and demand chain also incorporates AI in several ways, such as matching shippers with delivery service providers.
- According to IEA, in 2018, 24% of global CO2 emissions came from transportation and based on current policies, it is estimated that global emissions from transportation and logistics will rise by 60% between 2015 and 2050. Autonomous and AI technology that reduces the number of inefficient trips at sea and on the road by optimizing routes can improve fuel efficiency and reduce greenhouse gas (GHG) emissions.
Asia Pacific to Grow With an Accelerated Growth Rate
- The Autonomous Agents market is expected to grow at an accelerated pace in the Asia-Pacific region, with countries adopting artificial intelligence to automate future business strategies. For instance, in January 2019, EdgeVerve Systems, a subsidiary of Infosys Limited, declared the launch of AssistEdge Discover, which focuses on improving the success rate of automation-based applications at enterprise-level process discovery.
- The firms operating in the APAC region would benefit from the industrialization and globalization policies of the governments, flexible economic conditions, and the expanding digitalization, which is anticipated to have a notable impact on the region's business community.
- China is influencing the way in AI investment and adoption in EMs, with efforts on both the private and public sector fronts. On the public sector front, the Chinese government started an AI strategy reaching to 2030, and private players such as search company Baidu and ridesharing app Didi are heavily investing in AI research, which could further encourage the market in the APAC region.
- Digital automation is changing the world with excellent scope and pace. With progress in technologies such as AI, big data, robotics, and IoT reshaping the economic landscape, the APAC region is supposed to witness substantial growth in the autonomous agents market with a natural momentum improving sustainability.
- These advancements show that the APAC region is well-versed in adopting autonomous agents across multiple verticals, with a notable focus on BFSI and IT and telecom verticals.
Autonomous Agents Industry Overview
Global Autonomous Agents market is highly fragmented and consists of various major players. Inorganic growth strategies witnessed in the market were acquisitions and partnerships & collaborations. These activities have flagged the way for the expansion of business and customer base of market firms. The market players from autonomous agents market are expected to profitable growth opportunities in the future with the increasing demand for autonomous agents in the global market.
- May 2020 - SAP SE announced the integration of InstaFreight's service offerings with SAP Autonomous Logistics Business Network to support the fast and efficient handling of road shipments in Europe. By leveraging autonomous & digital processes, shippers can reduce complexity in managing their relationships with transportation service providers, and carriers can reduce their administrative effort, both key benefits during this challenging time of need across the globe.
- Nov 2019 - Oracle has stretched AI abilities inside its Enterprise Resource Planning (ERP) cloud and Enterprise Performance Management (EPM) cloud to check manual procedures and precision, enhance productivity, and flexibility. The all-encompassing AI abilities include advanced financial controls, cost report assistant, project-based supply chain management, project management, and digital assistant.
Autonomous Agents Market Leaders
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IBM Corporation
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Oracle Corporation
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SAP SE
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Amazon Web Services, Inc.
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SAS Institute Inc.
*Disclaimer: Major Players sorted in no particular order
Autonomous Agents Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute
- 4.2.5 Intensity of Competitive Rivalry
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4.3 Market Drivers
- 4.3.1 Rising Number of AI Applications
- 4.3.2 Growing Presence of Parallel Computational Resources
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4.4 Market Challenges
- 4.4.1 Scarcity of Skilled Workforce and Absence of Standards and Protocols
- 4.5 Industry Value Chain Analysis
- 4.6 Analysis on the impact of COVID-19 on the Autonomous Agents Market
5. MARKET SEGMENTATION
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5.1 By Deployment Type
- 5.1.1 Cloud
- 5.1.2 On-Premises
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5.2 By Organization Size
- 5.2.1 Small & Medium-Sized Enterprises (SMEs)
- 5.2.2 Large Enterprises
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5.3 By Industry Vertical
- 5.3.1 BFSI
- 5.3.2 IT &Telecom
- 5.3.3 Healthcare
- 5.3.4 Manufacturing
- 5.3.5 Transportation & Mobility
- 5.3.6 Other Industry Verticals
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5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 IBM Corporation
- 6.1.2 Oracle Corporation
- 6.1.3 SAP SE
- 6.1.4 Amazon Web Services, Inc.
- 6.1.5 SAS Institute Inc.
- 6.1.6 Nuance Communications
- 6.1.7 Infosys Limited
- 6.1.8 Fair Isaac Corporation
- 6.1.9 Fetch.ai
- 6.1.10 Affectiva Inc.
- 6.1.11 Intel Corporation
- 6.1.12 Salesforce.com, Inc.
- 6.1.13 Google LLC
- 6.1.14 Microsoft Corporation
- 6.1.15 Aptiv PLC
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Autonomous Agents Industry Segmentation
Autonomous agents are software programs that answer to states and events in their context, independent from direct instruction by the user or owner of the agent, but working on behalf and in the owner's interest. The term agent is not specified precisely, and agent software can vary from simple programs comprising a small number of rules to open and sophisticated systems. Agent technology was developed in artificial intelligence (AI) research and can include complex AI techniques.
| By Deployment Type | Cloud |
| On-Premises | |
| By Organization Size | Small & Medium-Sized Enterprises (SMEs) |
| Large Enterprises | |
| By Industry Vertical | BFSI |
| IT &Telecom | |
| Healthcare | |
| Manufacturing | |
| Transportation & Mobility | |
| Other Industry Verticals | |
| Geography | North America |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East & Africa |
Autonomous Agents Market Research FAQs
What is the current Autonomous Agents Market size?
The Autonomous Agents Market is projected to register a CAGR of 57% during the forecast period (2024-2029)
Who are the key players in Autonomous Agents Market?
IBM Corporation, Oracle Corporation, SAP SE, Amazon Web Services, Inc. and SAS Institute Inc. are the major companies operating in the Autonomous Agents Market.
Which is the fastest growing region in Autonomous Agents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Autonomous Agents Market?
In 2024, the North America accounts for the largest market share in Autonomous Agents Market.
What years does this Autonomous Agents Market cover?
The report covers the Autonomous Agents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Autonomous Agents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Autonomous Agents Industry Report
Statistics for the 2024 Autonomous Agents market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Autonomous Agents analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
