AI Agents Market Impact: Transforming Customer Interaction and Support
The global AI agents market size is anticipated to reach USD 50.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 45.1% from 2024 to 2030. The major driving factor is the increased demand for automation, advancements in Natural Language Processing (NLP), and rising demand for personalized customer experiences. Furthermore, the increasing adoption of cloud computing has made deploying AI agents a cost-effective affair for businesses.
Another major driving factor behind the lucrative growth of the market is the rising demand for customized experiences. AI agents enable businesses to deliver customized solutions by leveraging data to provide targeted recommendations, customer support, and marketing outreach, increasing customer satisfaction and loyalty. With the integration of AI agents in e-commerce platforms, businesses can increase customer engagement with targeted product recommendations further improving the online shopping experience. Ongoing research and development in AI technologies, particularly in machine learning, deep learning, and NLP, are improving AI agents' functionality and performance. As AI agents become more advanced, industries are adopting them for increasingly complex tasks.
Gather more insights about the market drivers, restrains and growth of the Global AI Agents Market
Asia Pacific is anticipated to register the fastest CAGR over the forecast period. Various countries in the APAC region are experiencing significant digital transformation across industries, leading to increased adoption of AI technologies, including AI agents. Businesses are leveraging AI to improve operational efficiency and customer engagement.
AI Agents Market Report Highlights:
- Based on technology, the machine learning segment led the market in 2023, accounting for over 30.0% share of the global revenue. Automation is a key trend in machine learning, intending to reduce manual labor to construct and deploy models. Platforms for automated machine learning (AutoML) are becoming increasingly common, allowing non-experts to take advantage of machine learning capabilities and quicken model building.
- Based on the agent system, the single-agent systems segment accounted for the largest market revenue share in 2023 due to the ease of implementation of single-agent systems compared to multi-agent systems.
- Based on type, the ready-to-deploy agents segment accounted for the largest market revenue share in 2023 as businesses can quickly deploy these models and get going with the AI agents.
- Based on application, the customer service and virtual assistants segment accounted for the largest market revenue share in 2023 as industries increasingly adopted AI chatbots and virtual assistants to revolutionize customer service and support experiences. These AI-powered solutions offer many benefits, including improved response times, personalized interactions, and the ability to handle multiple customer inquiries simultaneously.
- Based on end use, the enterprise segment accounted for the largest market revenue share in 2023. Enterprises are investing extensively in AI agents these days to unlock the power of their businesses. They are implementing the services to execute activities ranging from forecasting, planning, and predictive maintenance to customer service chatbots and other applications.
- Based on region, the North America AI agents market dominated the global industry with a revenue share of over 40.0% in 2023. This growth is fueled by the presence of leading research institutions, top technology companies, and a thriving startup ecosystem focused on AI innovation.
AI Agents Market Report Segmentation
Grand View Research, Inc. has segmented the global AI agents market report on the basis of technology, agent system, type, application, end use, and region.
- Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Machine Learning
- Natural Language Processing (NLP)
- Deep Learning
- Computer Vision
- Others
- Agent System Outlook (Revenue, USD Million, 2017 - 2030)
- Single-Agent Systems
- Multi-Agent Systems
- Type Outlook (Revenue, USD Million, 2017 - 2030)
- Ready-to-Deploy Agents
- Build-Your-Own Agents
- Application Outlook (Revenue, USD Million, 2017 - 2030)
- Customer Service and Virtual Assistants
- Robotics and Automation
- Healthcare
- Financial Services
- Security and Surveillance
- Gaming and Entertainment
- Marketing and Sales
- Human Resources
- Legal and Compliance
- Others
- End Use Outlook (Revenue, USD Million, 2017 - 2030)
- Consumer
- Enterprise
- Industrial
- Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- MEA
- UAE
- South Africa
- KSA
- North America
List of Key Players in the AI Agents Market
- Alibaba Group Holding Limited
- Amazon Web Services, Inc.
- Apple Inc.
- Baidu
- IBM Corporation
- Meta
- Microsoft
- NVIDIA Corporation
- Salesforce, inc.
Order a free sample PDF of the AI Agents Market Intelligence Study, published by Grand View Research.
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