AI Governance Market Size, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report 2023-2030
GMI Research analysis indicates that the AI Governance Market is slated to register a high CAGR of 35.3% over the forecast period till 2030.
AI Governance Market Overview
AI governance is the idea that there should be a legal structure for certifying that machine learning (ML) tools are well researched and developed to help humanity navigate the adoption of AI systems fairly. As the industries are facing chances of violation of laws while working with the surrounding, adoption of AI governance solution minimizes the gap between accountability and ethics in advanced technology.
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Major AI Governance Market Drivers
Rising government initiatives across the globe have given leverage to AI technology, which has helped in expanding the market. The government in the United States is also proactively adopting measures for AI Governance. The government revealed the implementation of AI ethical principles in line with the department of Defense’s AI strategy aim, thereby enabling the lawful and ethical use of AI systems by the US military and associated industries, which has helped the market in gaining traction. Furthermore, there has been an increase in the application of AI technologies around many segments in a bid to automate various industrial processes, which would reduce the cost of manufacturing, accelerate efficient decision making, and offer upper hand over in the face of high opposition. AI technology comes to provide to administrative needs, as a substantial rise in implementation of AI tools among various companies could be seen. Various AI tools like machine learning models and algorithms are becoming increasingly vital in these processes, leading to the expansion of the market.
Restraint in the AI Governance Market
However, establishment of comprehensive ethical principles for AI is likely to hamper the growth of the market over the forecast period.
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Component – Segment Analysis
Based on the component, solutions is witnessed to grow at a higher CAGR in the market over the forecast period. AI governance solutions allows developers to monitor and develop the ML algorithm to avoid undesirable outcomes. The major objective of governments behind adopting AI governance solutions is to defend privacy and civil authorities and build confidence and trust in AI technology among people.
Vertical – Segment Analysis
Based on the vertical, healthcare is witnessed to grow at a higher CAGR in the market over the forecast period. The governance of artificial intelligence has helped in managing and bringing an opacity in personal health information. Ethical assessment and usage rules decide whether or to what extent patients are informed about the role AI plays in their diagnosis and treatment. Advances in AI applications for medical imaging in treatment has surged the growth of the market.
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Regional – Segment Analysis:
Based on the regional coverage, North America is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the major adoption of the technology in the US and Canada, which has pushed the growth of the market in the region. For instance, the U.S. National AI R&D Plan in 2019 has advised the development of an AI R&D operation framework that helps businesses across the countryside integrate ethical factors into the R&D, without conceding on public commitment, and how to market one’s organization better.
Top Market Players
Various notable players operating in the market, include, IBM Corporation, Alphabet Inc., SAP SE, Microsoft Corporation, FICO Inc., Salesforce.com, Inc., Pymetrics Inc., SAS Institute, H2O.ai, Inc., Integrate.ai Inc., among others.
Key Developments:
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- In 2020, IBM updated AI Fairness 360 (AIF360) toolkit and added two functionalities in AI Fairness 360 toolkit: compatibility with sci-kit-learn and R. AIF360 can be used to detect fairness issues.
Segments covered in the Report:
The global AI governance market has been segmented on the basis of component, deployment, vertical, and regions. Based on component, the market is segmented into solutions, and services. Based on deployment, the market is segmented into on-premises, and cloud. Based on vertical, the market is segmented into healthcare, government and defense, automotive, retail, BFSI, and others.
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Report Coverage |
Details |
| Market Revenues (2022) |
USD Million |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Component, By Deployment, By Vertical, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | IBM Corporation, Alphabet Inc., SAP SE, Microsoft Corporation, FICO Inc., Salesforce.com, Inc., Pymetrics Inc., SAS Institute, H2O.ai, Inc., Integrate.ai Inc., among others; a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global AI Governance Market by Component
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- Solutions
- Services
Global AI Governance Market by Deployment
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- On-Premises
- Cloud
Global AI Governance Market by Vertical
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- Healthcare
- Government and Defense
- Automotive
- Retail
- BFSI
- Others
Global AI Governance Market by Region
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North America AI Governance Market (Option 1: As a part of the free 25% customization)
- By Component
- By Deployment
- By Vertical
- US Market All-Up
- Canada Market All-Up
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Europe AI Governance Market (Option 2: As a part of the free 25% customization)
- By Component
- By Deployment
- By Vertical
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific AI Governance Market (Option 3: As a part of the free 25% customization)
- By Component
- By Deployment
- By Vertical
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
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RoW AI Governance Market (Option 4: As a part of the free 25% customization)
- By Component
- By Deployment
- By Vertical
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the AI Governance (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- IBM Corporation
- Alphabet Inc.
- SAP SE
- Microsoft Corporation
- FICO Inc.
- com, Inc.
- Pymetrics Inc.
- SAS Institute
- ai, Inc.
- ai Inc.
Frequently Asked Question About This Report
AI Governance Market [UP2131-001001]
The growth rate of AI Governance Market during forecast period is 35.3%.
The solutions are witnessed to grow at a higher CAGR in the market over the forecast period. AI governance solutions allows developers to monitor and develop the ML algorithm to avoid undesirable outcomes.
The North America is projected to grow at a higher CAGR in the market over the forecast period. This is due to the major adoption of the technology in the US and Canada, which has pushed the growth of the market in the region.
The healthcare is witnessed to grow at the fastest rate in the market over the forecast period. The governance of artificial intelligence has helped in managing and bringing an opacity in personal health information.
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