Autonomous Agents Market 2020 - SWOT Analysis, Business Overview & Key Market Players | Microsoft Corp., SAP SE, IBM Corp, Oracle Corp, Cisco Systems Inc., Amazon Web Service Inc., SAS Institute Inc.

Autonomous agent is defined as an independent agent, which do not depend upon human supervision usually in a remote location. They collect information from sensors and then take decisions on their own, with the help of accumulators. These autonomous agents are usually called smart or intelligent agents as they work on the owners’ behalf. Basically, these agents are software programs made up to work under certain states and events independent from owners’ direction.

These autonomous agents are made with the help of artificial intelligence (AI) technology having a certain build-in aim with a set of procedures required to achieve a goal. These agents are manufactured in a way that they can take their own decision on actions without human intervention. High frequency trading system and thermostat are some examples of autonomous agents.

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The purpose behind this technology development is to enhance customer interaction, engagement, and retention by giving them more features with an ease of life, with a target of reduction in cost expenditure to provide better solutions within less time.

Rise in adoption of AI-based applications majorly drives growth of the market. AI is used in almost all major areas and fields, as it not only helps to improve development but also growth of these autonomous agents. Moreover, rise in demand for autonomous agents among end users, owing to its numerous benefits such as constantly improved performance, increased efficiency to access real time information, and rise in scalability further fuel growth of the autonomous agents market. However, lack of expertise and high initial investment restraints growth of the market. Furthermore, rise in applications of autonomous agents such as smart homes, mobile robots, self-driving cars, and intelligent factories provide lucrative opportunities for the autonomous agents market growth. In addition, ongoing advancements in artificial intelligence (AI) and machine learning (ML) along with growth in cloud-deployments are expected to provide lucrative opportunities for the market.

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Key market players such as Microsoft Corp., SAP SE, IBM Corp, Oracle Corp, Cisco Systems Inc., Amazon Web Service Inc., SAS Institute Inc.

Autonomous agents help SMEs digitalize their routine work, thus increasing efficiency by eliminating work of individual to play out complex assignments, as reduction in cost is the major need of SMEs. Hence improved efficiency, and reduction in cost are expected to increase its adoption among SME’s.

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Autonomous agents, which are software-based smart machines, have become a strategic necessity for many organizations. Recent advancements in machine learning have given rise to virtual personal assistants (VPAs). The impact of these has already been felt in enhancing enterprise strategies and communications, hence ongoing technological advancements such as integration of AI in autonomous agents are expected to provide create lucrative opportunities to the autonomous agents market in the upcoming years.

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