PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1558955
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1558955
The AI agents market is projected to grow from USD 5.1 billion in 2024 to USD 47.1 billion in 2030, with a CAGR of 44.8% during 2024-2030. The AI agent market has been growing rapidly. Impacting various sectors and business operations, the changes are prompted by several key factors. Companies are going for AI agents that can scale up personalized responses due to increasing complexities of customer interactions as well as need for customized experiences. For instance, in omni-channel communication strategies, AI agents can handle client queries across multiple platforms thereby boosting customer satisfaction and loyalty. Furthermore, AI agents have improved dramatically due to progress in NLP (natural language processing) and machine learning. As a result these tools are now better at comprehending context intention or sentiment resulting in more efficient automation processes. With digital transformation gaining popularity across industries, many organizations have turned towards the use of AI agents with an aim of streamlining their activities while cutting on costs leading to overall efficiency improvement.
Scope of the Report | |
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Years Considered for the Study | 2019-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | USD (Million) |
Segments | Agent System, Product Type, Agent Role, End Users, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
"By agent systems, multi-agent systems segment is expected to register the fastest market growth rate during the forecast period."
The AI agents market is seeing a rapid rise in growth of multi-agent systems (MAS) as these can handle complex decentralized tasks better than single-agent systems. Such AI agents work well in an environment where there is need for negotiations, collaborative efforts or competition among several parties- and that is why they are widely used in transportation, financial services, healthcare and autonomous systems. The advent of Industry 4.0, which focuses on automation and smart technologies, has also led to increased demand for MAS as they enable optimization processes, allow distributed data management and improve real-time decision making process. Furthermore, MAS are extremely suitable to scaling operations as they facilitate blending different functionalities across agents into their software platforms. This makes it possible for multi agent systems to adjust with dynamic, large-scale environments.
"By agent role, customer service & support is expected to account for the largest market share during the forecast period."
Customer service & support has emerged as the most widely accepted AI agents role. This is owing to the rapid rate at which customers are airing their grievances calls- requring special AI agents to manage and cope with this huge volume of interactions. The advent of digital platforms has increased the need for prompt, precise and customized responses that AI agents can offer throughout the day, hence substantially increasing consumer satisfaction levels and brand dedication. Furthermore, companies striving to rationalize costs through resource optimization and OPEX minimization are appreciating the affordability of AI agents who deal with routine duties while freeing up their colleagues for more complicated inquiries. In addition, easy integration of CRM systems with AI agents enables enterprises to adopt them without hindrance.
"By Region, North America to have the largest market share in 2024, and Asia Pacific is slated to grow at the fastest rate during the forecast period."
North America has the largest regional share of AI agents market based on early adoption of cutting-edge technologies and a strong digital infrastructure. This region is significantly advantaged by its major players such as Google, Microsoft, and IBM who invest heftily in the development of AI agents. For instance, IBM has developed AI-powered customer support tools adopted by leading banks and healthcare providers to minimize their operations and improve customer experiences. Moreover, Walmart has utilized AI agents for better supply chain efficiency and improved customer service in the US thereby demonstrating how this region leverages AI systems for operational excellence. Besides, strong thrusts toward digital transformation throughout industries, coupled with enabling legislations, further consolidate North America's dominance on the AI agents market.
The market for AI agents is growing fastest in Asia-Pacific, thanks to rapid development of AI, quickened digitization and huge technology adept population. China and Japan are spearheading the move with substantial state backing and funding for the AI technologies. For instance, China's e-commerce moguls such as Alibaba and JD.com have massively utilized AI agents so as to step up their customer service levels and minimize logistics costs. In addition, Japan's great emphasis on automation is depicted by firms like SoftBank, that integrates artificial intelligence agents into client support system and robotics, signifying a strong inclination towards AI in the area.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the AI agents market.
The report includes the study of key players offering AI agents solutions. It profiles major vendors in the AI agents market. The major players in the AI agents market include 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).
Research coverage
This research report categorizes the AI agents Market by Agent Systems (Single Agent System, Multi Agent Systems), by Product Type (Ready-to-Deploy AI Agents, Build-Your-Own AI Agents), by Agent Role (Productivity & Personal Assistants, Sales, Marketing, Legal, Customer Service & Support, Coding & Software Development, Product Management, Accounting, Human Resources, Business Intelligence, and Others), by End-user (enterprise end-users [BFSI, telecommunications, government & public sector, healthcare & life sciences, manufacturing, media & entertainment, retail & e-commerce, technology providers, professional service providers, law firms, and other enterprises], consumers), and by Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the AI agents market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the AI agents market. Competitive analysis of upcoming startups in the AI agents market ecosystem is covered in this report.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall AI agents market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.