Autonomous AI and Autonomous Agents Global Market Report 2024

The autonomous AI and autonomous agents market size has grown exponentially in recent years. It will grow from $4.93 billion in 2023 to $7.09 billion in 2024 at a compound annual growth rate (CAGR) of 43.8%. The observed growth during the historical period can be attributed to increased computing power, the growth of the Internet of Things (IoT), edge-to-cloud integration for seamless functionality, enhanced connectivity infrastructure, and the rising demand for automation.

The autonomous AI and autonomous agents market size is expected to see exponential growth in the next few years. It will grow to $30.35 billion in 2028 at a compound annual growth rate (CAGR) of 43.8%. The anticipated growth in the forecast period can be attributed to the customization and personalization of AI solutions, an increasing focus on cybersecurity for AI systems, the proliferation of AI in healthcare applications, a rising demand for industry-specific solutions, and the ascent of edge intelligence. Major trends expected in the forecast period include technological advancements in machine learning, progress in sensor technologies, advances in computer vision, the development of robotic operating systems, advancements in natural language processing, and the utilization of AI-powered virtual assistants and chatbots.

The growing prevalence of AI applications is anticipated to drive the expansion of the autonomous AI and autonomous agents market in the foreseeable future. AI applications, involving the practical implementation of artificial intelligence (AI) technologies across diverse domains, play a crucial role in fostering enhanced efficiency, improved decision-making, risk mitigation, and cost savings. Recent reports from Salesforce Inc. indicate that 57% of businesses utilized AI applications to enhance customer service in 2022. Furthermore, Forbes Media LLC reported in April 2023 that over half of business owners (46%) utilized AI for internal communications, with 97% recognizing the benefits of ChatGPT for their operations, and 73% planning to use AI-powered chatbots for instant messaging in 2022. This surge in AI applications is a key factor propelling the growth of the autonomous AI market.

The increasing automation of financial processes is expected to be a driving force for the growth of the autonomous AI and autonomous agents market. Financial processes, encompassing systematic procedures for managing an organization's financial resources, benefit significantly from the automation facilitated by autonomous AI and autonomous systems. These technologies streamline routine tasks, such as data entry, reconciliation, and report generation, leading to improved accuracy, efficiency, and reduced operational costs. According to Prophix’s Finance Leaders Survey 2023, 65% of finance leaders plan to have half of their duties automated by the end of 2023, with 27% already automating half of their practices by the end of this year. Consequently, the increasing automation of financial processes is a significant driver for the growth of the autonomous AI and autonomous agents market.

A noteworthy trend in the autonomous AI and autonomous agent market is the development of AI technological data platforms by major industry players. Companies such as International Business Machines Corporation (IBM) are focused on innovating AI technological data platforms to maintain a competitive edge. In May 2023, IBM launched the Watsonx platform, a next-generation AI data platform designed to help businesses scale and accelerate the impact of advanced AI with trusted data. Built on IBM Cloud Pak for Data, Watsonx introduces features that facilitate the building, deployment, and management of AI models, aiming to enhance efficiency, reduce costs, improve accuracy, and increase agility for businesses adopting AI.

Major companies operating in the autonomous AI and autonomous agent market are introducing new products, including autonomous control AI services for edge controllers, to gain a competitive advantage. Edge controllers, managing processes at the network's edge, are integral to operations closer to data sources. In February 2023, Yokogawa Electric Corporation launched an autonomous control AI service for its OpreX Realtime OS-based Machine Controllers (e-RT3 Plus). Leveraging the Factorial Kernel Dynamic Policy Programming (FKDPP) reinforcement learning AI algorithm, this service enables the creation of AI control models for edge controllers, facilitating autonomous control in areas beyond conventional methods. The technology demonstrated effectiveness in a 35-day field test, showcasing potential benefits in productivity enhancement, reduced energy consumption, and stabilized control in complex processes.

In July 2021, Zebra Technologies Corporation acquired Fetch Robotics Inc. for $290 million. This acquisition is aimed at expanding Zebra Technologies Corporation's portfolio of automation solutions, incorporating Fetch Robotics' technology, improving customer service, and fostering innovation. Fetch Robotics Inc. is known for its AI autonomous agent services and the development of autonomous mobile robots.

Major companies operating in the autonomous AI and autonomous agents market report are 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.

North America was the largest region in the autonomous AI and autonomous agents market in 2023. 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. The countries covered in the autonomous AI and autonomous agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of offerings in autonomous AI and autonomous agents include hardware, software, and services. Hardware encompasses the physical components, devices, and equipment that constitute a computer system or electronic device. These systems leverage various technologies such as machine learning, natural language processing, context awareness, and computer vision. Applications span across multiple verticals, including banking, financial services and insurance (BFSI), retail and e-commerce, telecommunications, manufacturing, healthcare and life sciences, energy and utilities, automotive, transportation and logistics, government and defense, media and entertainment, and others.

The autonomous AI and autonomous agents market research report is one of a series of new reports that provides autonomous AI and autonomous agents market statistics, including autonomous AI and autonomous agents industry global market size, regional shares, competitors with an autonomous AI and autonomous agents market share, detailed autonomous AI and autonomous agents market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous AI and autonomous agents industry. This autonomous AI and autonomous agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The autonomous AI and autonomous agents market consists of revenues earned by entities by providing industrial automation services, autonomous vehicle services, virtual assistant services, smart home services, financial services, and customer support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The autonomous AI and autonomous agent market also includes sales of robotics systems, smart home systems, financial trading systems, and virtual assistants that are used in providing autonomous AI and autonomous agents services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.