Ubiquity of AI in Automating Business Processes to Drive the Autonomous Agents Market

Introduction

Artificial intelligence is gaining prominence on account of the introduction of state-of-art technologies such as self-driving cars, advanced robotics, voice assistance, and analytics solutions. Facilitated with concepts such as machine learning, deep learning, cloud technology, sensor fusion, and computer vision, AI empowers strategies for complex decision making. Thus, autonomous agents integrated with such concepts further support sophisticated decision making, offering a positive approach towards the growth of the autonomous agent market in the coming years. An increasing number of organizations are focusing on automating their business processes, which is further accelerating the demand for autonomous agents.

Segment Analysis

Cloud-based Deployment to Surpass On-Premise Deployment

On account of the agility offered by cloud deployment, various industry verticals are embracing the technology to improve business operations. Several enterprises are inclined towards adopting advanced technologies such as cloud, AI, deep learning, and machine learning to automate their business processes. Thus, the rising demand for automating business processes is expected to drive the demand for autonomous agents in the near future.

Automation in Mobility & Transport to Create Growth Prospects

As customers demand a more convenient driving experience, technological advancements are leading to disruptions in the automotive industry. The integration of services to automate and enhance on-demand multimodal transportation for riders is expected to drive the autonomous vehicle business. For instance, in February 2019, Amazon Web Services, Inc. announced that Lyft, Inc. is going ‘all-in’ for using its cloud services to improve its U.S.-based ride-sharing services, enabling self-driving technology.

Regional Insights

North America is expected to witness dynamic growth in the autonomous agent market on account of the rapid and early adoption of innovative technologies in the region. Leading players in the retail industry, such as Walmart and Amazon, are embracing technologies such as AI, deep learning, and computer vision to offer enhanced customer experience, which is fueling the growth of the autonomous agents market.

Connectivity and communication are vital aspects in the development of a vehicle. According to the European Automobile Manufacturers Association, the auto industry is the largest private investor in R&D with an investment of approx. USD 60.94 billion annually in Europe. The confluence of advancements in the automotive industry and AI-powered systems to meet the demands of growing network and digitization is projected to drive the demand for autonomous agents in the region.

In Asia-Pacific, automation of business processes and activities is expected to drive the autonomous agents market during the forecast period, 2019–2026. The rising adoption of artificial intelligence is reshaping the enterprise business landscape, which is further expected to provide impetus to market growth in the region.

Competitive Players

1. Oracle
2. IBM Corporation
3. Badger Technologies
4. SAP
5. Amazon Web Services Inc.
6. SAS
7. Infosys
8. Nuance Communications
9. FICO
10. Fetch.Al
11. Affectiva
12. Intel
13. Salesforce
14. Aptiv
15. Google
16. Microsoft

Recent Developments

October 2023- HumanSignal introduced Adala, a framework for an Autonomous Data (Labelling) Agent. Adala presents a novel method for data processing by providing a flexible platform for automatically implementing specialized agents that perform various data labeling tasks.

November 2023- OpenAI unveiled its autonomous agent, Jarvis, during the DevDay event.

Segmentation

1. By Deployment Type
   1. Cloud
   2. On-Premise
2. By Organization Size
   1. SMEs
   2. Large Enterprises
3. By Industry Vertical
   1. IT and Telecommunication
   2. Manufacturing
   3. Transportation and Mobility
   4. Healthcare
   5. Others