Ai Governance Market
AI Governance Market Forecasts to 2030 - Global Analysis By Component (Solution, Services and Other Components), Deployment Mode, Organization Size, Application, End User and By Geography
According to Stratistics MRC, the Global AI Governance Market is accounted for $264.1 million in 2024 and is expected to reach $1322.5 million by 2030 growing at a CAGR of 30.8% during the forecast period. AI Governance involves the frameworks, policies, and guidelines that ensure the ethical development and deployment of artificial intelligence. It addresses issues like transparency, accountability, fairness, and privacy. Effective AI governance includes regulatory oversight, industry standards, and organizational practices to mitigate risks and promote responsible AI usage. It also encompasses stakeholder engagement, interdisciplinary collaboration, and continuous monitoring to adapt to evolving technologies. The goal is to balance innovation with societal values, ensuring AI benefits all while minimizing potential harms.
According to the Capgemini Research Institute research, the companies that are perceived to be ethically using AI and ML have a 44-point Net Promoter Score (NPS) advantage over those that are not.
Market Dynamics:
Driver:
Ethical and regulatory imperatives
Ethical and regulatory imperatives significantly influence the AI Governance market, shaping policies and frameworks to ensure responsible AI development and deployment. Regulations such as GDPR in Europe and AI guidelines in various countries aim to safeguard privacy, mitigate bias, and uphold accountability in AI systems. Ethical considerations drive transparency, fairness, and societal impact assessments in AI implementations. Compliance with these imperatives necessitates AI governance structures that promote ethical standards, regulatory adherence, and stakeholder trust driving the growth of the market.
Restraint:
Lack of standardized AI governance frameworks
Creating inconsistencies in regulatory compliance and ethical standards across jurisdictions, without uniform guidelines, organizations face complexities in navigating legal requirements and implementing cohesive governance practices. This fragmentation hampers interoperability between AI systems and impedes international collaboration on AI development and deployment. Moreover, it complicates efforts to address ethical concerns such as bias and transparency, undermining trust in AI technologies hampering the growth of the market.
Opportunity:
Transparency in AI decision-making
Clear and understandable explanations of how AI algorithms make decisions enable stakeholders to assess fairness, identify biases, and ensure ethical use. This transparency drives demand for governance solutions that provide mechanisms for auditing, explaining, and interpreting AI outputs. Organizations investing in transparent AI governance frameworks not only comply with regulatory requirements but also mitigate risks associated with algorithmic opacity encouraging the market growth.
Threat:
Data privacy concerns
Regulations like GDPR impose stringent requirements on data handling, impacting AI development and deployment strategies. Compliance complexities, such as ensuring consent and data anonymization, increase operational costs and limit data availability for training AI models. Moreover, breaches in data privacy erode public trust and invite regulatory scrutiny, hindering AI innovation.
Covid-19 Impact
The Covid-19 pandemic accelerated the AI Governance market as organizations rapidly adopted AI technologies to navigate disruptions and enable remote operations. Heightened reliance on AI for healthcare, logistics, and customer service underscored the need for ethical guidelines and regulatory frameworks to address data privacy, bias, and algorithmic transparency. Governments and enterprises prioritized AI governance to ensure responsible AI use amidst crisis-driven deployments. However, economic uncertainties and resource constraints in some sectors slowed regulatory developments and investments.
The services segment is expected to be the largest during the forecast period
The services is expected to be the largest during the forecast period as consultancy services offer strategic guidance on regulatory compliance, risk assessment, and ethical considerations in AI development and deployment. Auditing and certification services ensure adherence to standards and best practices, bolstering trust and transparency. Training and education services equip stakeholders with skills in AI ethics, governance, and responsible use. Service providers also offer technical solutions for monitoring, interpreting, and mitigating biases in AI systems.
The model transparency segment is expected to have the highest CAGR during the forecast period
The model transparency segment is expected to have the highest CAGR during the forecast period as transparent AI models provide clear explanations of how decisions are made, enabling stakeholders to understand, interpret, and validate outcomes. This transparency mitigates concerns about biases, discrimination, and ethical implications in AI applications. It drives demand for governance solutions that ensure comprehensible and auditable AI models, fostering regulatory compliance and ethical standards.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power aiding the growth of the AI governance market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to escalating demand for intelligent virtual assistants and the expanding 5G infrastructure.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to several countries in the region, including China, Japan, and Singapore, actively working on establishing regulatory frameworks and guidelines to govern AI's ethical and responsible use. For instance, The Chinese government released guidelines and policies to regulate AI technologies, promote data security, and encourage collaboration which is driving the growth of the market in this region.
Key players in the market
Some of the key players in AI Governance market include IBM Corporation, Google LLC, SAP SE, Microsoft Corporation, FICO Inc., Salesforce.com, Inc., Pymetrics Inc., SAS Institute Inc., H2O.ai, Inc., Integrate.ai Inc., Facebook, Inc., Informatica LLC, OneTrust, LLC, Accenture, Salesforce.com, Inc., Credo AI, TIBCO Software Inc., Amazon Web Services, Inc. and QlikTech International AB
Key Developments:
In June 2024, L3Harris and Accenture Collaborate to Accelerate Technology Reinvention for Growth. As part of this collaboration, a portion of L3Harris’ IT professionals will join Accenture, where they will benefit from industry-specific training, new technology and operational skills development.
In April 2024, IBM to Acquire HashiCorp, Inc. Creating a Comprehensive End-to-End Hybrid Cloud Platform, HashiCorp's suite of products provides enterprises with extensive Infrastructure Lifecycle Management and Security Lifecycle Management capabilities to enable organizations to automate their hybrid and multi-cloud environments.
In January 2024, IBM to Acquire Application Modernization Capabilities from Advanced. The planned acquisition will further enable us to support clients’ mainframe application modernization journeys, marking another important step forward in IBM’s hybrid cloud and AI strategy.
Components Covered:
• Solution
• Services
• Other Components
Deployment Modes Covered:
• On-Premises
• Cloud-Based
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
Applications Covered:
• Model Transparency
• Bias & Fairness Detection
• Accountability & Auditability
• Data Privacy & Protection
• Regulatory Compliance
• Ethical AI Policies
• Risk Management
• AI Governance Frameworks
• Incident Management
• Performance Monitoring & Reporting
• Other Applications
End Users Covered:
• Financial Institutions
• Healthcare Providers
• Retail
• Manufacturing
• Automotive
• Government Agencies
• Energy & Utilities
• Telecommunications
• Transportation & Logistics
• Media & Entertainment
• Biotechnology
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global AI Governance Market, By Component
5.1 Introduction
5.2 Solution
5.2.1 Model Governance
5.2.2 Data Governance
5.2.3 Compliance Management
5.2.4 Explainable AI (XAI)
5.2.5 Machine Learning Operations (MLOps)
5.3 Services
5.3.1 Consulting Services
5.3.2 Implementation Services
5.3.3 Training & Education
5.3.4 Ongoing Support & Maintenance
5.4 Other Components
6 Global AI Governance Market, By Deployment Mode
6.1 Introduction
6.2 On-Premises
6.3 Cloud-Based
7 Global AI Governance Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises (SMEs)
7.3 Large Enterprises
8 Global AI Governance Market, By Application
8.1 Introduction
8.2 Model Transparency
8.3 Bias & Fairness Detection
8.4 Accountability & Auditability
8.5 Data Privacy & Protection
8.6 Regulatory Compliance
8.7 Ethical AI Policies
8.8 Risk Management
8.9 AI Governance Frameworks
8.10 Incident Management
8.11 Performance Monitoring & Reporting
8.12 Other Applications
9 Global AI Governance Market, By End User
9.1 Introduction
9.2 Financial Institutions
9.3 Healthcare Providers
9.4 Retail
9.5 Manufacturing
9.6 Automotive
9.7 Government Agencies
9.8 Energy & Utilities
9.9 Telecommunications
9.10 Transportation & Logistics
9.11 Media & Entertainment
9.12 Biotechnology
9.13 Other End Users
10 Global AI Governance Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM Corporation
12.2 Google LLC
12.3 SAP SE
12.4 Microsoft Corporation
12.5 FICO Inc.
12.6 Salesforce.com, Inc.
12.7 Pymetrics Inc.
12.8 SAS Institute Inc.
12.9 H2O.ai, Inc.
12.10 Integrate.ai Inc.
12.11 Facebook, Inc.
12.12 Informatica LLC
12.13 OneTrust, LLC
12.14 Accenture
12.15 Salesforce.com, Inc.
12.16 Credo AI
12.17 TIBCO Software Inc.
12.18 Amazon Web Services, Inc.
12.19 QlikTech International AB
List of Tables
1 Global AI Governance Market Outlook, By Region (2022-2030) ($MN)
2 Global AI Governance Market Outlook, By Component (2022-2030) ($MN)
3 Global AI Governance Market Outlook, By Solution (2022-2030) ($MN)
4 Global AI Governance Market Outlook, By Model Governance (2022-2030) ($MN)
5 Global AI Governance Market Outlook, By Data Governance (2022-2030) ($MN)
6 Global AI Governance Market Outlook, By Compliance Management (2022-2030) ($MN)
7 Global AI Governance Market Outlook, By Explainable AI (XAI) (2022-2030) ($MN)
8 Global AI Governance Market Outlook, By Machine Learning Operations (MLOps) (2022-2030) ($MN)
9 Global AI Governance Market Outlook, By Services (2022-2030) ($MN)
10 Global AI Governance Market Outlook, By Consulting Services (2022-2030) ($MN)
11 Global AI Governance Market Outlook, By Implementation Services (2022-2030) ($MN)
12 Global AI Governance Market Outlook, By Training & Education (2022-2030) ($MN)
13 Global AI Governance Market Outlook, By Ongoing Support & Maintenance (2022-2030) ($MN)
14 Global AI Governance Market Outlook, By Other Components (2022-2030) ($MN)
15 Global AI Governance Market Outlook, By Deployment Mode (2022-2030) ($MN)
16 Global AI Governance Market Outlook, By On-Premises (2022-2030) ($MN)
17 Global AI Governance Market Outlook, By Cloud-Based (2022-2030) ($MN)
18 Global AI Governance Market Outlook, By Organization Size (2022-2030) ($MN)
19 Global AI Governance Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2022-2030) ($MN)
20 Global AI Governance Market Outlook, By Large Enterprises (2022-2030) ($MN)
21 Global AI Governance Market Outlook, By Application (2022-2030) ($MN)
22 Global AI Governance Market Outlook, By Model Transparency (2022-2030) ($MN)
23 Global AI Governance Market Outlook, By Bias & Fairness Detection (2022-2030) ($MN)
24 Global AI Governance Market Outlook, By Accountability & Auditability (2022-2030) ($MN)
25 Global AI Governance Market Outlook, By Data Privacy & Protection (2022-2030) ($MN)
26 Global AI Governance Market Outlook, By Regulatory Compliance (2022-2030) ($MN)
27 Global AI Governance Market Outlook, By Ethical AI Policies (2022-2030) ($MN)
28 Global AI Governance Market Outlook, By Risk Management (2022-2030) ($MN)
29 Global AI Governance Market Outlook, By AI Governance Frameworks (2022-2030) ($MN)
30 Global AI Governance Market Outlook, By Incident Management (2022-2030) ($MN)
31 Global AI Governance Market Outlook, By Performance Monitoring & Reporting (2022-2030) ($MN)
32 Global AI Governance Market Outlook, By Other Applications (2022-2030) ($MN)
33 Global AI Governance Market Outlook, By End User (2022-2030) ($MN)
34 Global AI Governance Market Outlook, By Financial Institutions (2022-2030) ($MN)
35 Global AI Governance Market Outlook, By Healthcare Providers (2022-2030) ($MN)
36 Global AI Governance Market Outlook, By Retail (2022-2030) ($MN)
37 Global AI Governance Market Outlook, By Manufacturing (2022-2030) ($MN)
38 Global AI Governance Market Outlook, By Automotive (2022-2030) ($MN)
39 Global AI Governance Market Outlook, By Government Agencies (2022-2030) ($MN)
40 Global AI Governance Market Outlook, By Energy & Utilities (2022-2030) ($MN)
41 Global AI Governance Market Outlook, By Telecommunications (2022-2030) ($MN)
42 Global AI Governance Market Outlook, By Transportation & Logistics (2022-2030) ($MN)
43 Global AI Governance Market Outlook, By Media & Entertainment (2022-2030) ($MN)
44 Global AI Governance Market Outlook, By Biotechnology (2022-2030) ($MN)
45 Global AI Governance Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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