Autonomous Agents Global Market Report 2024

The autonomous agents market size has grown exponentially in recent years. It will grow from $1.78 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 51.9%. The growth observed during the historic period can be attributed to advancements in artificial intelligence (AI), increased availability of data, the rise of the Internet of Things (IoT), the demand for automation, and integration with robotic systems.

The autonomous agents market size is expected to see exponential growth in the next few years. It will grow to $14.31 billion in 2028 at a compound annual growth rate (CAGR) of 51.6%. The projected growth in the forecast period can be attributed to the exponential expansion of edge computing, advancements in natural language processing (NLP), a focus on explainable AI (XAI), the establishment of regulatory frameworks for autonomous systems, and the implementation of enhanced security measures. Major trends anticipated in the forecast period include cross-industry collaboration, increased adoption of 5G technology, utilization of cloud computing infrastructure, development of swarm robotics, and advancements in reinforcement learning.

The increasing adoption of automation across various industries is poised to drive the growth of the autonomous agent market in the future. Automation involves leveraging technology to perform tasks with minimal human involvement, substituting manual effort with machines, software, or programmed processes. Autonomous agents play a crucial role in automation by enabling faster and more accurate task execution compared to humans, automating repetitive and time-consuming tasks, and facilitating more efficient processes. For example, Eurostat reported in December 2023 that approximately 28% of large EU enterprises utilized artificial intelligence technologies, with 8% of EU enterprises having implemented such technologies in 2021. Moreover, around 53% of EU enterprises adopted ready-to-use commercial artificial intelligence software or systems in 2021. Hence, the growing automation across various industries is propelling the autonomous agent market.

Key players in the autonomous agent market are intensifying their focus on developing innovative autonomy platforms such as BrainOS to gain a competitive advantage. An autonomy platform serves as a comprehensive software and hardware framework that empowers autonomous systems, such as robots or unmanned vehicles, to make decisions independently without human intervention. For instance, in November 2022, Brain Crop, a US-based AI software company, unveiled its third-generation autonomy platform, BrainOS, designed to power the next generation of autonomous commercial robots. This platform offers original equipment manufacturers (OEMs) a shorter time to market for high-volume automated robotics and data collection products. The new platform is anticipated to drive various robotic advancements, including enhanced localization and navigation performance, improved safety and reliability, enhanced human-robot interaction, and a modular architecture for faster and easier product development.

In March 2023, John Deere, a US-based agricultural equipment manufacturing company, acquired SparkAI for an undisclosed sum. This acquisition aimed to bolster John Deere's capabilities in autonomous agent development, enabling the company to provide more sophisticated and efficient solutions to its customers. SparkAI, based in the US, specializes in LLM-powered autonomous agent platforms.

Major companies operating in the autonomous agents market report are Amazon Web Services, Alphabet Inc., Microsoft Corporation, The Boeing Company, Intel Corporation, Airbus SE, IBM Corporation, Oracle Corporation, SAP SE, Uber Technologies Inc., SZ DJI Technology Co. Ltd., ABB Ltd., Salesforce Inc., NVIDIA Corporation, IDC (International Data Corporation), Infosys Limited, Aptiv PLC, Gartner Inc., Yaskawa Electric Corporation, KUKA Robotics, AOS Group., SAS Institute, Nuance Communications Inc., Boston Dynamics, Brain Corp, Fetch.AI, Hanson Robotics, Affectiva.

North America was the largest region in the 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 agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the autonomous agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The autonomous agents market includes revenues earned by entities by providing services such as machine learning, natural language processing, context awareness, and computer vision. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The autonomous agents market consists of sales of sensors, processors, actuators, and communication devices. 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).

Autonomous agents are software entities capable of autonomously performing tasks and making decisions without direct human intervention, leveraging advanced technologies such as artificial intelligence across various applications such as robotics, smart devices, and autonomous vehicles.

The primary deployment methods for autonomous agents include cloud and on-premises setups. Cloud deployment involves hosting, managing, and delivering software applications, services, or resources over the Internet through cloud computing infrastructure, catering to a range of organizations including large enterprises and small and medium-sized enterprises (SMEs). These agents are utilized by various end-users spanning industries such as information technology and telecommunications, banking, financial services, and insurance (BFSI), healthcare, transportation and mobility, manufacturing, and others.

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

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.


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