Global Autonomous Agents Market is expected to grow from US$ 341.2 Mn in 2019 to US$4987.3 Mn by 2027, at a CAGR of 39.83% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The autonomous agents market is driven by many factors, like increasing number of AI applications, increased availability of parallel computational resources, growth of large and complex data sets driving the need for autonomous agents. However, issues related to unsupervised learning and heavy investment in converting unstructured data into structured data can hamper the growth of the market. Challenges faced by the autonomous agents market are limited use cases of autonomous agents, increased network complexity, data privacy and security concerns.
IT and Telecom segment is expected to grow at the highest CAGR during the forecast period. The IT and Telecom vertical is considered by the increased complexity of communication networks to support advanced technologies, for instance, software-defined - wide area network and network function virtualization. The IT and telecom vertical has increased demand for intelligent and optimized network operations to provide to the demand for communication service suppliers. The vertical is integrating autonomous agents, AI and MI to automate their network operations and enhance the customer experience.
Small and medium-sized enterprises segment is expected to register a major share in terms of revenue during the forecast period. SMEs majorly prefer the cloud-based deployment type. Additionally, rapid advancements in cloud technology, with security as their priority and the increasing cost of support and maintenance of on-premises solutions will drive the growth of cloud-based autonomous agents.
The Asia Pacific is expected to dominate the autonomous agents market during the forecast period followed by North America. The Asia-Pacific will occupy more market share in the following years, especially in China, also fast rising India and South Asia regions. Emerging economies, for instance India, Singapore, and Malaysia are looking forward to integrating new technologies into their businesses. These developments show that the Asia Pacific region is well-versed in adopting autonomous agents across various verticals, with a major focus on BFSI, and IT and telecom verticals. The companies in the Asia Pacific region are practicing the strategy of increasing its customer base through acquisitions and partnerships with the significant players in the autonomous agents market.
Several key players operating in the autonomous agent market. SAS is one of the major players in the autonomous agents market. The company concentrates on innovating the core focus areas, for instance, advanced analytics, visualization, consumer intelligence, data management, risk management, and fraud and security intelligence. The company has been taking numerous initiatives to enhance its AI offerings to achieve a competitive advantage. In Jan 2019, Infosys released Assist Edge Discover to easiness out the digital venture at the business level and empowers efforts to oversee procedures over several frameworks consistently.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Autonomous Agents Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Autonomous Agents Market.
Scope of the Global Autonomous Agents Market
Global Autonomous Agents Market, By Deployment Type
Global Autonomous Agents Market, By Organization Size
• Small and Medium-Sized Enterprises
• Large Enterprises
Global Autonomous Agents Market, By Vertical
• Banking, Financial Services, and Insurance
• IT and Telecom
• Transportation and Mobility
Global Autonomous Agents Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key players operating in Global Autonomous Agents Market
• Nuance Communications
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Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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