The AI Governance Market is expected to grow from USD 50 million in 2020 to USD 1,016 million by 2026 at a CAGR of 65.5% from 2020 to 2026.
AI governance is based on the concept that a legislative framework should be in place to make sure the appropriate research and development of machine learning (ML) technologies to assist humankind to direct legally through artificial intelligence systems. In addressing issues concerning the right to be informed and potential violations, AI governance objects to close the gap present in technological developments amidst accountability and ethics. Increasing adoption of artificial intelligence (AI) in several sectors such as economics, transportation, business, healthcare, education, and public safety, the prominence of AI governance is growing rapidly. With the rising benefits of AI, organizations and governments across the world are taking various initiatives to adopt artificial intelligence and machine learning technologies. Thus, the government organizations from several countries are taking serious steps to deploy AI governance by establishing councils, initiating new standards and guidelines and designing frameworks. Few examples considering government initiatives to propel AI are, recently India adopted the world’s largest WhatsApp Chabot “MyGov Corona Helpdesk”, a 24 hours helpdesk developed by Haptik which is handling millions of various queries in both English and Hindi languages. AI technology has changed the present era with its machine learning and thinking abilities. That has made a positive impact on society through various functions. On the other hand, initiation of comprehensive ethical principles for AI and the dearth of technically skilled people in emerging economies may constrain the growth of the AI governance market globally.
Moreover, the reduction in gender inequality and differentiation by using AI is projected to generate lucrative opportunities in the AI governance market worldwide. In addition, the increasing government initiatives to leverage the advantages of AI technology minimize the gap between ethics and accountability, and up gradation of data warehouse structure are the various major applications contributing to the growth of the AI Governance Market. Proactive customer experience by automating backend process to minimize human error, with the help of AI, is projected to accelerate the growth of AI in the BFSI market. Furthermore, the chatbots and Robo-Advisors for financial products and smart wallets are few other factors which boost the market growth.
The global AI Governance Market is segregated on the basis of Component as Solutions, Platform, Software Tools, Services, Training, Consulting and Integration. Based on Deployment Mode the global AI Governance Market is segmented in Cloud and On-premise. Based on Enterprise Size the global AI Governance Market is segmented in Small & Medium Scale Enterprise and Large Scale Enterprise. Based on Industry Vertical the global AI Governance Market is segmented in BFSI, Healthcare, Travel & Hospitality, Government, Automotive, IT & Telecommunication, Retail &e-commerce, Media & Entertainment and Others.
The global AI Governance Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The AI Governance Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Alphabet Inc., Microsoft Corporation, IBM Corporation, SAP SE, Salesforce.com, Inc. and others are among the major players in the global AI Governance Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global AI Governance Market has been segmented
as below: AI
Governance Market, By Component AI
Governance Market, By Deployment Mode AI
Governance Market, By Enterprise Size AI
Governance Market, By Industry Vertical AI
Governance Market, By Region AI Governance
Market, By Company The
report covers the below scope: The
years considered for the study are as follows: Report
Scope: The global AI Governance Market report scope
includes detailed study covering underlying factors influencing the industry
trends. The report covers analysis on regional and country level market
dynamics. The scope also covers competitive overview providing company market
shares along with company profiles for major revenue contributing companies.
The report scope includes detailed competitive outlook covering market shares
and profiles key participants in the global AI Governance Market share. Major
industry players with significant revenue share include Alphabet
Inc., Microsoft Corporation, IBM Corporation, SAP SE, Salesforce.com, Inc. and others. Why to
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. AI Governance Market, By Component
5.1. Key Points
5.2. Solutions
5.3. Platform
5.4. Software Tools
5.5. Services
5.6. Training
5.7. consulting
5.8. Integration
6. AI Governance Market, By Deployment Mode
6.1. Key Points
6.2. Cloud
6.3. On-premise
7. AI Governance Market, By Enterprise Size
7.1. Key Points
7.2. Small & Medium Scale Enterprise
7.3. Large Scale Enterprise
8. AI Governance Market, By Industry Vertical
8.1. Key Points
8.2. BFSI
8.3. Healthcare
8.4. Travel & Hospitality
8.5. Government
8.6. Automotive
8.7. IT & Telecommunication
8.8. Retail &e-commerce
8.9. Media & Entertainment
8.10. Others
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- AI Governance Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Alphabet Inc.
10.2. Microsoft Corporation
10.3. IBM Corporation
10.4. SAP SE
10.5. Salesforce.com, Inc.
10.6. Amazon Web Services, Inc.
10.7. QlikTech International AB
10.8. TIBCO Software Inc.
10.9. SAS Institute Inc.
10.10. Facebook, Inc.
10.11. FICO
10.12. Zest AI
10.13. Pymetrics Inc.
10.14. H2O.ai, Inc.
10.15. Informatica LLC.
10.16. Ataccama Corporation
10.17. DataRobot, Inc.
10.18. Dataiku
AI Governance Market, By Component
AI Governance Market, By Deployment Mode
AI Governance Market, By Enterprise Size
AI Governance Market, By Industry Vertical
AI Governance Market, By Company