DELRAY BEACH, Fla., Sept. 12, 2024 /PRNewswire/ -- The AI Agents Market is anticipated to experience substantial expansion, ascending from a value of USD 5.1 billion in 2024 to a substantial worth of USD 47.1 billion by the year 2030. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 44.8% over the forecast period. AI agent adoption's crucial determinant is the increasing demand for automation that enhances efficiency, scale and decision-making in diverse sectors. As businesses are constantly pressed to streamline operations while minimizing operational expenses, AI agents offer an effective alternative through automating repetitive functions, analyzing big datasets and providing real-time actionable insights. For instance, AI agents can concurrently manage a large number of inquiries, thus facilitating faster responses and also allowing human representatives to handle more complicated problems. For instance, in investment banking or medical industries, they are utilized for data analysis as well as pattern detection so that a timely and precise determination can be made. This automation improves operational efficiency and enables companies to expand their services without needing to hire more employees, making AI agents vital for achieving growth and staying competitive.
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400 - Tables
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450 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2030 |
Base year considered | 2023 |
Forecast period | 2024-2030 |
Forecast units | USD (Billion) |
Segments Covered | Agent System, Product Type, Agent Role, End Users, and Region |
Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | Microsoft (US), IBM (US), Google (US), Oracle (US), AWS (US), NVIDIA (US), Meta (US), Salesforce (US), OpenAI (US), LivePerson (US), Tempus AI (US), Kore.ai (US), LeewayHertz (US), CS DISCO (US), Aerogility (UK), GupShup (US), HireVue (US), Helpshift (US), Fluid AI (India), Amelia (US), Irisity (Sweden), Cogito (US), SmartAction (US), Cognosys (Canada), Aisera (US), Markovate (US), Rasa (US), Stability AI (UK), Infinitus Systems (US), Sierra (US), Level AI (US), Sybill (US), Truva (US), Leena AI (US), Tars (US), Talkie.ai (US), HeyMilo AI (US), CUJO AI (US), K Health (US), Locale.ai (US), Newo.ai (US), Beam AI (US), and Cognigy (Germany). |
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Ready to deploy agents segment will account for largest market share during the forecast period.
The major factor driving the use of pre-made (ready-to-deploy) AI agents is the pressing need for fast and affordable AI agents that require minimal technical knowledge to implement. These pre-set AI agents provide companies with a quick method to improve operations without the time-consuming custom development process. For example, businesses such as Zendesk offer AI-driven chatbots that can be easily added to customer support platforms to automate replies and enhance customer service right away. In the same way, Salesforce provides pre-built AI tools for sales and marketing automation, allowing companies to customize customer engagements and improve campaigns easily. The quick deployment and proven effectiveness of these agents make them an appealing choice for companies wanting to use AI efficiently in a fast-moving market.
By end-user, enterprises segment is poised to account for larger market share in 2024.
Enterprise end-users are the most significant contributor to AI agent market as the scale of their operations are massive and complicated, keeping them in a constant demand for AI enabled automation, efficiency and data driven decision making process. These companies usually handle colossal amounts of data, complicated work-flow systems with numerous customers which make them potential beneficiaries of AI agents capable of smoothing processes, improving customer satisfaction levels and delivering meaningful reports. For instance, IBM and Microsoft use AI agents in managing their IT desks where these agents respond to basic support problems, thus reducing response periods while leaving enough time for human beings on difficult issues. Similarly, in finance services, firms like JPMorgan Chase employ AI agents for detecting cases of fraud or managing risks through analyzing millions of transactions instantly to flag suspicious acts or behavior patterns within them. Besides, in retail sector, companies like Amazon employ AI agents in order to bring personalized experience to their clients, ensure efficient supply-chain and regulate pricing strategies.
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By region, North America to hold the largest share by market value in 2024.
North America's leading position in the AI agents market is mainly because of its unmatched focus on technological advancement, significant financial backing, and early AI acceptance in various industries. Tech leaders such as Google, Microsoft, and Amazon are leading the way in creating AI agents and incorporating them extensively into their operations and their clients'. One example is how Amazon has transformed the effectiveness of its logistics and supply chain management through the implementation of AI agents, allowing for extensive real-time tracking, inventory control, and predictive analytics.
The utilization of AI agents within Microsoft's Azure platform is enabling businesses throughout North America to automate intricate procedures and improve decision-making with insights powered by AI. Bank of America's AI-powered virtual assistant, Erica, has gained popularity for delivering customized customer assistance and financial guidance, handling more than one billion client interactions since it was introduced. Moreover, North America's emphasis on AI in healthcare is demonstrated through companies such as IBM Watson Health, which uses AI agents to help with clinical decision-making and patient care. North America has the biggest and most advanced market for AI agents worldwide due to the strong venture capital ecosystem and government backing for AI research in the region.
Top Key Companies in AI Agents Market:
The major players in the AI agents market include Google (US), Amelia (US), IBM (US), OpenAI (US), and AWS (US) along with SMEs and startups such as Fluid AI (India), Stability AI (UK), Cognigy (Germany), Aisera (US), and Cognosys (Canada).
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