The Global AI Governance market is expected to grow from USD 52.5 Million in 2020 to USD 820.18 Million by 2028, at a CAGR of 41% during the forecast period 2021-2028.
AI governance is centered on the concept that a legal framework should be in place to oversee appropriate machine learning research and development to help humans navigate AI systems equitably. In order to address issues such as the right to be informed and probable breaches, AI governance attempts to fill the gap in technical advancements between accountability and ethics. With the rising benefits of AI, businesses and governments throughout the world are implementing AI and machine learning technology in a variety of ways. As a result, government organizations from various nations are forming councils, developing new norms and rules, and constructing frameworks to implement AI governance. With its machine learning and reasoning capabilities, AI technology has changed the modern period. Through different functions, this has had a good influence on society.
The rising prominence of AI governance solutions in decision-making processes will boost the global AI governance market. Because there are ethical, financial, and other dangers involved with the deployment of AI technology, many firms have already begun to streamline their efforts to protect their brands' image. In order to satisfy new shareholders and customers, firms are also simplifying their work. As a result, there is an intense need to build an ethical framework to ensure that AI deployment, development, and design are independent of partiality. This is likely to ensure that AI technology produces fair results, as certain AI algorithms may act unfairly in specific circumstances. On the other hand, this market's growth is hindered by the lack of clear ethical guidelines for artificial intelligence, significant capital costs, and inadequate artificial intelligence competence and abilities.
This study delivers a comprehensive analysis of components, verticals, and regions. The component segment includes solutions and services. The solutions segment is further divided into software tools and platforms. And services segment is further divided into integration, consulting, support and maintenance. The solution segment held the largest market share, owing to a number of factors, including the growing reliance of users on AI-based technologies, among others. The product segment includes automotive; banking, financial services, and insurance (BFSI); government and defense; media and entertainment; healthcare and life sciences; retail; telecom; and others. The automotive segment held the largest market share, owing to autonomous transportation.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the largest market share in the year 2020. The region has a significant rate of adoption of AI technology. Besides adoption, there are several developments in the AI technology research and development industry in North America, which are anticipated to increase demand for AI governance in the area. Organizations in North America, particularly in the United States, have made use of AI, machine learning, and deep learning technologies to remain ahead of the competition. The region's economies are well-established, allowing AI governance suppliers to invest in new technology. It is also recognized as a hub of innovation, with big IT companies releasing smart gadgets and cooperating with other companies in the AI governance market.
Some of the notable players in the market are Alphabet Inc, Ataccama Corporation, Amazon Web Services Inc., AnotherBrain, DataRobot Inc., Dataiku, DarwinAI, Diveplane Corporation, Fiddler Labs Inc., Genie AI Ltd., Microsoft Corporation, IBM Corporation, QlikTech International AB, TIBCO Software Inc., SAS Institute Inc., Facebook Inc., SAP SE, Salesforce.com Inc., FICO, Zest AI, Pymetrics Inc., H2O.ai Inc., Informatica LLC, Kyndi Inc., SparkCognition Inc., Truera, MindsDB Inc., integrate.ai Inc., Untangle AI Pte Ltd.
Global AI Governance Market Analysis and Forecast, Component
Global AI Governance Market Analysis and Forecast, Vertical
Global AI Governance Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Component
4.3.2. Market Attractiveness Analysis By Vertical
4.3.3. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Growing government initiatives to leverage artificial intelligence technology advantages
5.2.2. Rising need for building trust in artificial intelligence systems and increasing demand for transparency in artificial intelligence decisions
5.2.3. Increasing compliance with regulations around technology
5.2.4. Reduction of gender bias and discrimination
5.3. Restraints
5.3.1. Significant investment cost
5.3.2. Establishing comprehensive ethical principles for artificial intelligence
5.3.3. Insufficient expertise and skills in artificial intelligence
6. Global AI Governance Market Analysis and Forecast, By Component
6.1. Segment Overview
6.2. Solutions
6.2.1. Software Tools
6.2.2. Platforms
6.3. Services
6.3.1. Integration
6.3.2. Consulting
6.3.3. Support and Maintenance
7. Global AI Governance Market Analysis and Forecast, By Vertical
7.1. Segment Overview
7.2. Automotive
7.3. Banking, Financial Services, and Insurance (BFSI)
7.4. Government and Defense
7.5. Media and Entertainment
7.6. Healthcare and Life Sciences
7.7. Retail
7.8. Telecom
8. Global AI Governance Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global AI Governance Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global AI Governance Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Alphabet Inc
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Alphabet Inc
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Ataccama Corporation
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Amazon Web Services Inc
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. AnotherBrain
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. DataRobot Inc
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. Dataiku
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. DarwinAI
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Diveplane Corporation
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Fiddler Labs Inc
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
10.11. Genie AI Ltd
10.11.1. Business Overview
10.11.2. Company Snapshot
10.11.3. Company Market Share Analysis
10.11.4. Company Product Portfolio
10.11.5. Recent Developments
10.11.6. SWOT Analysis
10.12. Microsoft Corporation
10.12.1. Business Overview
10.12.2. Company Snapshot
10.12.3. Company Market Share Analysis
10.12.4. Company Product Portfolio
10.12.5. Recent Developments
10.12.6. SWOT Analysis
10.13. IBM Corporation
10.13.1. Business Overview
10.13.2. Company Snapshot
10.13.3. Company Market Share Analysis
10.13.4. Company Product Portfolio
10.13.5. Recent Developments
10.13.6. SWOT Analysis
10.14. QlikTech International AB
10.14.1. Business Overview
10.14.2. Company Snapshot
10.14.3. Company Market Share Analysis
10.14.4. Company Product Portfolio
10.14.5. Recent Developments
10.14.6. SWOT Analysis
10.15. TIBCO Software Inc
10.15.1. Business Overview
10.15.2. Company Snapshot
10.15.3. Company Market Share Analysis
10.15.4. Company Product Portfolio
10.15.5. Recent Developments
10.15.6. SWOT Analysis
10.16. SAS Institute Inc
10.16.1. Business Overview
10.16.2. Company Snapshot
10.16.3. Company Market Share Analysis
10.16.4. Company Product Portfolio
10.16.5. Recent Developments
10.16.6. SWOT Analysis
10.17. Facebook Inc
10.17.1. Business Overview
10.17.2. Company Snapshot
10.17.3. Company Market Share Analysis
10.17.4. Company Product Portfolio
10.17.5. Recent Developments
10.17.6. SWOT Analysis
10.18. SAP SE
10.18.1. Business Overview
10.18.2. Company Snapshot
10.18.3. Company Market Share Analysis
10.18.4. Company Product Portfolio
10.18.5. Recent Developments
10.18.6. SWOT Analysis
10.19. Salesforce.com Inc
10.19.1. Business Overview
10.19.2. Company Snapshot
10.19.3. Company Market Share Analysis
10.19.4. Company Product Portfolio
10.19.5. Recent Developments
10.19.6. SWOT Analysis
10.20. FICO
10.20.1. Business Overview
10.20.2. Company Snapshot
10.20.3. Company Market Share Analysis
10.20.4. Company Product Portfolio
10.20.5. Recent Developments
10.20.6. SWOT Analysis
10.21. Zest AI
10.21.1. Business Overview
10.21.2. Company Snapshot
10.21.3. Company Market Share Analysis
10.21.4. Company Product Portfolio
10.21.5. Recent Developments
10.21.6. SWOT Analysis
10.22. Pymetrics Inc
10.22.1. Business Overview
10.22.2. Company Snapshot
10.22.3. Company Market Share Analysis
10.22.4. Company Product Portfolio
10.22.5. Recent Developments
10.22.6. SWOT Analysis
10.23. H2O.ai Inc
10.23.1. Business Overview
10.23.2. Company Snapshot
10.23.3. Company Market Share Analysis
10.23.4. Company Product Portfolio
10.23.5. Recent Developments
10.23.6. SWOT Analysis
10.24. Informatica LLC
10.24.1. Business Overview
10.24.2. Company Snapshot
10.24.3. Company Market Share Analysis
10.24.4. Company Product Portfolio
10.24.5. Recent Developments
10.24.6. SWOT Analysis
10.25. Kyndi Inc
10.25.1. Business Overview
10.25.2. Company Snapshot
10.25.3. Company Market Share Analysis
10.25.4. Company Product Portfolio
10.25.5. Recent Developments
10.25.6. SWOT Analysis
10.26. SparkCognition Inc
10.26.1. Business Overview
10.26.2. Company Snapshot
10.26.3. Company Market Share Analysis
10.26.4. Company Product Portfolio
10.26.5. Recent Developments
10.26.6. SWOT Analysis
10.27. Truera
10.27.1. Business Overview
10.27.2. Company Snapshot
10.27.3. Company Market Share Analysis
10.27.4. Company Product Portfolio
10.27.5. Recent Developments
10.27.6. SWOT Analysis
10.28. MindsDB Inc
10.28.1. Business Overview
10.28.2. Company Snapshot
10.28.3. Company Market Share Analysis
10.28.4. Company Product Portfolio
10.28.5. Recent Developments
10.28.6. SWOT Analysis
10.29. integrate.ai Inc
10.29.1. Business Overview
10.29.2. Company Snapshot
10.29.3. Company Market Share Analysis
10.29.4. Company Product Portfolio
10.29.5. Recent Developments
10.29.6. SWOT Analysis
10.30. Untangle AI Pte Ltd
10.30.1. Business Overview
10.30.2. Company Snapshot
10.30.3. Company Market Share Analysis
10.30.4. Company Product Portfolio
10.30.5. Recent Developments
10.30.6. SWOT Analysis
List of Table
1. Global AI Governance Market, By Component, 2018-2028 (USD Million)
2. Global Solutions, AI Governance Market, By Region, 2018-2028 (USD Million)
3. Global Software Tools, AI Governance Market, By Region, 2018-2028 (USD Million)
4. Global Platforms, AI Governance Market, By Region, 2018-2028 (USD Million)
5. Global Services, AI Governance Market, By Region, 2018-2028 (USD Million)
6. Global Integration, AI Governance Market, By Region, 2018-2028 (USD Million)
7. Global Consulting, AI Governance Market, By Region, 2018-2028 (USD Million)
8. Global Support and Maintenance, AI Governance Market, By Region, 2018-2028 (USD Million)
9. Global AI Governance Market, By Vertical, 2018-2028 (USD Million)
10. Global Automotive, AI Governance Market, By Region, 2018-2028 (USD Million)
11. Global Banking, Financial Services, and Insurance (BFSI); AI Governance Market, By Region, 2018-2028 (USD Million)
12. Global Government and Defense, AI Governance Market, By Region, 2018-2028 (USD Million)
13. Global Media and Entertainment, AI Governance Market, By Region, 2018-2028 (USD Million)
14. Global Healthcare and Life Sciences, AI Governance Market, By Region, 2018-2028 (USD Million)
15. Global Retail, AI Governance Market, By Region, 2018-2028 (USD Million)
16. Global Telecom, AI Governance Market, By Region, 2018-2028 (USD Million)
17. North America AI Governance Market, By Component, 2018-2028 (USD Million)
18. North America AI Governance Market, By Vertical, 2018-2028 (USD Million)
19. U.S. AI Governance Market, By Component, 2018-2028 (USD Million)
20. U.S. AI Governance Market, By Vertical, 2018-2028 (USD Million)
21. Canada AI Governance Market, By Component, 2018-2028 (USD Million)
22. Canada AI Governance Market, By Vertical, 2018-2028 (USD Million)
23. Mexico AI Governance Market, By Component, 2018-2028 (USD Million)
24. Mexico AI Governance Market, By Vertical, 2018-2028 (USD Million)
25. Europe AI Governance Market, By Component, 2018-2028 (USD Million)
26. Europe AI Governance Market, By Vertical, 2018-2028 (USD Million)
27. Germany AI Governance Market, By Component, 2018-2028 (USD Million)
28. Germany AI Governance Market, By Vertical, 2018-2028 (USD Million)
29. France AI Governance Market, By Component, 2018-2028 (USD Million)
30. France AI Governance Market, By Vertical, 2018-2028 (USD Million)
31. U.K. AI Governance Market, By Component, 2018-2028 (USD Million)
32. U.K. AI Governance Market, By Vertical, 2018-2028 (USD Million)
33. Italy AI Governance Market, By Component, 2018-2028 (USD Million)
34. Italy AI Governance Market, By Vertical, 2018-2028 (USD Million)
35. Spain AI Governance Market, By Component, 2018-2028 (USD Million)
36. Spain AI Governance Market, By Vertical, 2018-2028 (USD Million)
37. Asia Pacific AI Governance Market, By Component, 2018-2028 (USD Million)
38. Asia Pacific AI Governance Market, By Vertical, 2018-2028 (USD Million)
39. Japan AI Governance Market, By Component, 2018-2028 (USD Million)
40. Japan AI Governance Market, By Vertical, 2018-2028 (USD Million)
41. China AI Governance Market, By Component, 2018-2028 (USD Million)
42. China AI Governance Market, By Vertical, 2018-2028 (USD Million)
43. India AI Governance Market, By Component, 2018-2028 (USD Million)
44. India AI Governance Market, By Vertical, 2018-2028 (USD Million)
45. South America AI Governance Market, By Component, 2018-2028 (USD Million)
46. South America AI Governance Market, By Vertical, 2018-2028 (USD Million)
47. Brazil AI Governance Market, By Component, 2018-2028 (USD Million)
48. Brazil AI Governance Market, By Vertical, 2018-2028 (USD Million)
49. Middle East and Africa AI Governance Market, By Component, 2018-2028 (USD Million)
50. Middle East and Africa AI Governance Market, By Vertical, 2018-2028 (USD Million)
51. UAE AI Governance Market, By Component, 2018-2028 (USD Million)
52. UAE AI Governance Market, By Vertical, 2018-2028 (USD Million)
53. South Africa AI Governance Market, By Component, 2018-2028 (USD Million)
54. South Africa AI Governance Market, By Vertical, 2018-2028 (USD Million)
List of Figures
1. Global AI Governance Market Segmentation
2. Global AI Governance Market: Research Methodology
3. Market Vertical Estimation Methodology: Bottom-Up Approach
4. Market Vertical Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global AI Governance Market Attractiveness Analysis By Component
9. Global AI Governance Market Attractiveness Analysis By Vertical
10. Global AI Governance Market Attractiveness Analysis By Region
11. Global AI Governance Market: Dynamics
12. Global AI Governance Market Share by Component (2021 & 2028)
13. Global AI Governance Market Share by Vertical (2021 & 2028)
14. Global AI Governance Market Share by Regions (2021 & 2028)
15. Global AI Governance Market Share by Company (2020)
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