Autonomous AI and Autonomous Agents Market worth $28.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 19, 2023 /PRNewswire/ -- The market for autonomous AI and autonomous agents has a bright future owing to developments in technology, expanded uses in industry, collaborative human-machine interactions, concerns about ethics, integration of IoT, boosted interfaces, the need for regulation, and the need to build trust. These components will encourage uptake and have an important effect on the entire industry.

The Autonomous AI and Autonomous Agents Market is estimated to grow from USD 4.8 billion in 2023 to USD 28.5 billion by 2028, at a CAGR of 43.0% during the forecast period, according to a new report by MarketsandMarkets™. Autonomous AI & autonomous agents are software programs that can perform specific tasks without human intervention. They are designed to use algorithms and machine learning to make decisions and improve their performance over time. Autonomous AI is being developed and experimented with for a variety of use cases, such as self-driving cars, medical diagnosis, and robotics. Similarly, autonomous agents are being developed and experimented with for a variety of use cases, such as automating customer service tasks, managing inventory, optimizing manufacturing processes, and providing financial advice. As autonomous agents continue to develop, they have the potential to revolutionize a wide range of industries. Businesses that can successfully adopt autonomous agents are likely to gain a competitive advantage.

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230 - Tables
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250 - Pages

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Scope of the Report

Services segment to account for higher CAGR during the forecast period

Services play a crucial role in the successful implementation and operation of Autonomous AI and agent systems. These services include consulting services, deployment and integration, training, and support and maintenance. Service providers in the Autonomous AI and agent domain aim to deliver value-added services that enable organizations to leverage the full potential of their AI systems. Services are tailored to the specific needs of organizations, promoting collaboration, knowledge transfer, and ongoing support to maximize the benefits derived from Autonomous AI and agent technologies.

Computational Agents is expected to hold the largest market size for the year 2023

Computational agents exist purely in digital environments and are driven by sophisticated algorithms and computational power. These agents harness the capabilities of AI and machine learning to analyze vast amounts of data, predict outcomes, optimize processes, and make autonomous decisions. Computational agents leverage advanced data analysis techniques, such as statistical modeling, pattern recognition, and deep learning, to uncover insights and patterns from complex datasets. Computational agents include software agents and artificial life agents, which demonstrate unique characteristics and capabilities.

The cloud segment is projected to grow at the highest CAGR during the forecast period

Cloud deployment for Autonomous AI and agents involves hosting the AI and agent systems on remote servers provided by cloud service providers. This deployment approach offers numerous advantages for organizations seeking to leverage the power of AI and agents. Cloud deployment enables easy access to computational resources, data storage, and specialized AI services, eliminating the need for organizations to manage their own infrastructure. It provides scalability, allowing systems to handle varying workloads and accommodate growth. With cloud deployment, organizations can rapidly deploy AI and agent systems, reducing time to market and enabling quick prototyping and experimentation.

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Machine Learning Technology is expected to account for the largest market size in 2023

Machine learning (ML) is a foundational technology for the development of autonomous AI and agents. It is a subset of artificial intelligence that focuses on designing algorithms and models that allow computers to learn from data and make predictions or decisions without explicit programming. In the context of autonomous AI and agents, ML enables these systems to analyze large volumes of data, recognize patterns, and adapt their behavior based on the insights gained from the data. ML plays a pivotal role in enabling the autonomy and intelligence of AI and agents, allowing them to learn, reason, and act independently based on the data they encounter.

Top Key Companies in Autonomous AI and Autonomous Agents Market:

Major vendors in the global Autonomous AI and Autonomous Agents Market 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).

Recent Developments:

• In May 2023, OneTrust launched AI-driven document classification to support organizations to completely identify and classifying unstructured data to enhance data governance and data discovery.
• In April 2023, BigID announced a technology partnership with Thales, a data security technology provider, to combine BigID data intelligence and Thales CipherTrust Platform to encrypt, anonymize, and delete data.
• In May 2021, Securiti announced the collaboration between Security and Workday by launching Securiti for Workday to enhance security, privacy, governance, and compliance for sensitive employee and financial data within the Workday platform.
• In March 2021, IBM announced the launch of the launch of IBM OpenPages Data Privacy Management, a new module in the OpenPages platform that enables organizations to meet new data privacy challenges.
• In December 2020, Exterro acquired AccessData, a forensic investigation technology provider, to help customers manage legal governance, risk, and compliance (GRC) obligations.
• In June 2020, TrustArc partnered with BigID, a leading provider of data discovery and intelligence solutions for privacy, protection, and insights. This collaboration aims to assist organizations in discovering, classifying, understanding, and safeguarding personal and sensitive data to ensure ongoing privacy compliance.

Autonomous AI and Autonomous Agents Market Advantages:

• Autonomous AI agents and systems are more effective and efficient because they can accomplish tasks and make choices without involving humans. As they can operate continuously, they eliminate the need for human monitoring and quicken task completion.
• Autonomous AI and agents can dramatically cut operational expenses by automating tasks and getting rid of the requirement for human personnel. They are able to manage repetitious operations, optimise resource allocation, and reduce errors, which helps firms save money.
• Large volumes of data can be processed rapidly and accurately by autonomous AI systems. They have the capacity to accurately analyse intricate patterns, spot abnormalities, and make conclusions based on facts. Results may be enhanced as a result, particularly in fields like risk assessment, fraud detection, and predictive maintenance.
• Scaling up or down autonomous AI systems and agents is simple to do in response to changing demands. They are able to handle growing workloads without requiring large infrastructure improvements or more personnel. These systems can also learn from their mistakes and adapt to changing settings, which helps them perform better over time.
• Autonomous AI systems can offer insightful analysis and suggestions to help people make decisions. They can find trends, make predictions, and provide optimised solutions by analysing huge databases. This can help companies take well-informed decisions, minimise risks, and seize opportunities.
• Customers can interact with autonomous agents in a personalised and effective way. For instance, chatbots can answer questions from customers immediately, deal with their concerns, and make suggestions. This enhances consumer involvement and satisfaction, which results in a better overall experience.
• By independently examining new options and spotting trends or opportunities that people might have missed, autonomous AI systems and agents can speed up innovation. They can process enormous amounts of data, spot new trends, and produce fresh insights, encouraging innovation.

Report Objectives

• To define, describe, and forecast the global privacy management software market based on application (data discovery & mapping, consent & preference management, data subject access request, privacy impact assessment, incident & breach management, vendor & third-party risk management, and other applications), deployment mode (cloud and on-premises), organization size (SMEs and large enterprises), vertical (BFSI, retail & eCommerce, IT & telecommunications, government & defense, healthcare, manufacturing, and other verticals) and region.
• To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
• To strategically analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
• To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To strategically analyze macro and micromarkets¹ with respect to growth trends, prospects, and their contributions to the overall market
• To analyze industry trends, patents and innovations, and pricing data related to the Privacy Management Software market.
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players.
• To profile key players in the market and comprehensively analyze their market share/ranking and core-competencies across segments and subsegments.
• To track and analyze competitive developments, such as mergers and acquisitions, new product developments, and partnerships and collaborations in the market.

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