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AI Governance Market by Component (Solutions (Platforms and Software Tools) and Services), Vertical (BFSI, Healthcare and Life Sciences, Government and Defense, Telecom, Retail, and Automotive), and Region - Global Forecast to 2025

  • ID: 4844545
  • Report
  • September 2019
  • Region: Global
  • 108 Pages
  • Markets and Markets
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The Global AI Governance Market Size is Expected to Grow from USD 51 Million in 2019 to USD 316 Million by 2025, at a CAGR of 44.3%.

FEATURED COMPANIES

  • 2021.AI
  • Facebook
  • Google
  • IBM
  • Microsoft
  • Salesforce.Com
  • MORE

Growing demand for building trust in AI systems and increasing demand for transparency in AI decisions are expected to drive the growth of the AI governance market

The growth of the market can be attributed to increasing government initiatives to leverage the benefits of Artificial Intelligence (AI) technology. However, understanding of data and AI skills hinder the growth of the market.

The automotive vertical is projected to grow at the highest CAGR during the forecast period

Autonomous transportation is one of the areas in the automotive industry where the AI governance solutions are expected to be playing a major role because if the autonomous vehicle makes a mistake in decision making it can directly lead to the loss of life. Therefore, as self-driving cars can have a major role in making life and death-related decisions, they are expected to become a major adopter of AI governance solutions.

The consulting services segment is expected to account for a higher market share during the forecast period as compared to the managed services segment

Organizations require consulting services for an enhanced strategic outlook, improved performance efficiencies, and transformation of business operations. With the help of consulting services, marketers can offer tailored content to their customers and deliver the maximum benefits.

Europe expected to grow at the highest growth rate during the forecast period

The AI governance market in Europe is expected to grow at a rapid pace during the forecast period. The region is expected to hold the second-largest market size in the global AI governance market. Various verticals across the region are focusing on incorporating AI governance model, to monitor the AI algorithm on a real-time basis, and to avoid complications and ethical challenges of post-development of the AI system. The European countries and regulatory authorities are at the forefront in conducting research on ethical AI and governance of AI technology.

  • By Company Type: Tier 1 - 25%, Tier 2 - 42%, and Tier 3 - 33%
  • By Designation: C-level - 46%, Director-level - 42%, and Others - 12%
  • By Region: North America - 35%, APAC - 20%, Europe - 40%, RoW -5%

Major vendors offering AI governance solutions and services across the globe include-IBM (US), Google (US), Facebook (US), AWS (US), Microsoft (US), Salesforce (US), SAP (Germany), SAS Institute (US), FICO (US), 2021.AI (Denmark), ZestFinance (US), integrate.ai(US), H2O.ai(US), Pymetrics (US).

Research coverage

The market study covers the AI governance market size across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as component (solutions and services), vertical, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

  • The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall AI governance market and the subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • 2021.AI
  • Facebook
  • Google
  • IBM
  • Microsoft
  • Salesforce.Com
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 AI Governance Market: Top 4 Verticals
4.3 AI Governance Market: Top 3 Verticals and Regions
4.4 AI Governance Market, By Vertical

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Government Initiatives to Leverage the AI Technology
5.2.1.2 Increasing Need for Building Trust in AI Systems and Growing Demand for Transparency in AI Decisions
5.2.1.3 Growing Regulatory Compliances Around the Technology
5.2.2 Restraints
5.2.2.1 Establishing Comprehensive Ethical Principles for AI
5.2.3 Opportunities
5.2.3.1 Reduction in Gender Bias and Discrimination Through the Use of AI
5.2.4 Challenges
5.2.4.1 Inadequate AI Expertise and Skills
5.2.4.2 Clean and Relevant Data Required to Train Ml Algorithms
5.3 Common AI Governance Principles
5.4 Use Cases
5.4.1 Scenario 1
5.4.2 Scenario 2
5.4.3 Scenario 3
5.5 Regulatory Implications
5.5.1 General Data Protection Regulation
5.5.2 Governance, Risk, and Compliance Standards
5.5.3 Health Information Technology for Economic and Clinical Health
5.5.4 Health Insurance Portability and Accountability Act
5.5.5 Federal Trade Commission
5.5.6 Securities Financing Transactions Regulation

6 AI Governance Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Platforms
6.2.1.1 Increasing Need for A Comprehensive Solution to Build AI Governance Solutions to Drive the Growth of the Platforms Segment
6.2.2 Software Tools
6.2.2.1 Software Tools to Provide an Effective Way for Helping Enterprises Add AI Governance Capabilities Into the Existing Architecture
6.3 Services
6.3.1 Consulting
6.3.1.1 Need for an Enhanced Strategic Outlook, Improved Performance Efficiencies, and Business Transformation to Drive the Growth of Consulting Services
6.3.2 Integration
6.3.2.1 Need for Feasible Integration Services to Drive the Growth of Integration Services
6.3.3 Support and Maintenance
6.3.3.1 Complexity of Operations and the Need for Regular Assistance During the Software Life Cycle to Foster the Growth of Support and Maintenance Services

7 AI Governance Market, By Vertical
7.1 Introduction
7.2 Banking, Financial Services, and Insurance
7.2.1 Cost Associated With Compliance Requirements to Boost the Adoption of AI Governance in the BFSI Vertical
7.3 Government and Defense
7.3.1 AI Governance Solution to Become Critical in Government and Defense Areas Such as Autonomous Weapons and Crime Fighting Models
7.4 Healthcare and Life Sciences
7.4.1 Healthcare and Life Sciences Organizations to Adopt AI Governance Solutions to Manage Medical Treatments and Diagnosis Effectively
7.5 Media and Entertainment
7.5.1 Growing Data Privacy Concerns to Create Demand for AI Governance Solutions in the Media and Entertainment Vertical
7.6 Retail
7.6.1 Product Recommendation and Planning to Become Crucial in the Retail Vertical to Adopt AI Governance Solutions
7.7 Telecom
7.7.1 Telecom Vertical to Adopt AI Governance Solutions for the Effective Management of Assets
7.8 Automotive
7.8.1 AI Governance Solutions to Become Crucial in Self-Driving Cars
7.9 Others

8 AI Governance Market, By Region
8.1 Introduction
8.2 North America
8.2.1 United States
8.2.1.1 Government Initiatives to Establish Guidelines for Ethical AI to Boost the Adoption of AI Governance Solutions in the Us
8.2.2 Canada
8.2.2.1 Increasing Adoption of AI Technology Among the Banking and Retail Industry to Drive the Adoption of AI Governance in Canada
8.3 Europe
8.3.1 United Kingdom
8.3.1.1 Increasing Adherence to Compliance Policies Regarding AI Technology to Boost the Adoption of AI Governance Solutions in the UK
8.3.2 Germany
8.3.2.1 Manufacturing and Automotive Industry to Adopt AI Solutions in Germany
8.3.3 France
8.3.3.1 France’s Governmental Initiatives to Become an AI Hub to Drive the Adoption of AI Governance
8.4 Asia Pacific
8.4.1 China
8.4.1.1 Heavy Investments in Advanced Technologies to Boost the Adoption of AI Governance Solutions in China
8.4.2 Japan
8.4.2.1 Increasing Digitalization Initiatives to Provide Opportunities to Deploy AI Governance Solutions in Japan
8.4.3 India
8.4.3.1 Initiatives on Advanced Technologies Would Enhance the Adoption of AI Governance Solutions in India
8.4.4 Singapore
8.4.4.1 Government Initiatives to Enhance the Adoption of AI Governance in Singapore
8.4.5 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Middle East and Africa
8.5.1.1 Increasing Investments in Advanced Technologies to Drive the Growth of AI Governance in Mea
8.5.2 Latin America
8.5.2.1 Growing Technological Advancements to Drive the Growth of AI Governance in Latin America

9 Company Profiles
9.1 Introduction
Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, Author's View
9.2 IBM
9.3 Google
9.4 Microsoft
9.5 Facebook
9.6 SAP
9.7 Salesforce.Com
9.8 Fico
9.9 AWS
9.10 ZestFinance
9.11 2021.AI
9.12 Pymetrics
9.13 SAS Institute
9.14 H2O.AI
9.15 Integrate.AI

Details on Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, Author's View Might Not Be Captured in Case of Unlisted Companies.

10 Appendix
10.1 Industry Excerpts
10.2 Discussion Guide
10.3 Knowledge Store: Subscription Portal
10.4 Available Customizations
10.5 Related Reports
10.6 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2016-2018
Table 2 Factor Analysis
Table 3 Global AI Governance Market Size and Growth Rate, 2019-2025 (USD Million and Y-O-Y %)
Table 4 AI Governance Market Size, By Component, 2019-2025 (USD Million)
Table 5 Solutions: Market Size, By Type, 2019-2025 (USD Million)
Table 6 Services: Market Size, By Type, 2019-2025 (USD Million)
Table 7 AI Governance Market Size, By Vertical, 2019-2025 (USD Million)
Table 8 AI Governance Market Size, By Region, 2019-2025 (USD Million)
Table 9 North America: Market Size, By Component, 2019-2025 (USD Thousand)
Table 10 North America: Market Size, By Solution, 2019-2025 (USD Thousand)
Table 11 North America: Market Size, By Service, 2019-2025 (USD Thousand)
Table 12 North America: Market Size, By Vertical, 2019-2025 (USD Thousand)
Table 13 North America: Market Size, By Country, 2019-2025 (USD Thousand)
Table 14 Europe: AI Governance Market Size, By Component, 2019-2025 (USD Thousand)
Table 15 Europe: Market Size, By Solution, 2019-2025 (USD Thousand)
Table 16 Europe: Market Size, By Service, 2019-2025 (USD Thousand)
Table 17 Europe: Market Size, By Vertical, 2019-2025 (USD Thousand)
Table 18 Europe: Market Size, By Country, 2019-2025 (USD Thousand)
Table 19 Asia Pacific: AI Governance Market Size, By Component, 2019-2025 (USD Thousand)
Table 20 Asia Pacific: Market Size, By Solution, 2019-2025 (USD Thousand)
Table 21 Asia Pacific: Market Size, By Service, 2019-2025 (USD Thousand)
Table 22 Asia Pacific: Market Size, By Vertical, 2019-2025 (USD Thousand)
Table 23 Asia Pacific: Market Size, By Country, 2019-2025 (USD Thousand)
Table 24 Rest of the World: AI Governance Market Size, By Component, 2019-2025 (USD Thousand)
Table 25 Rest of the World: Market Size, By Solution, 2019-2025 (USD Thousand)
Table 26 Rest of the World: Market Size, By Service, 2019-2025 (USD Thousand)
Table 27 Rest of the World: Market Size, By Vertical, 2019-2025 (USD Thousand)
Table 28 Rest of the World: Market Size, By Region, 2019-2025 (USD Thousand)

List of Figures

Figure 1 Global AI Governance Market: Research Design
Figure 2 Top-Down and Bottom-Up Approaches
Figure 3 Solutions Segment to Account for A Larger Market Size in 2020
Figure 4 Platforms to Account for A Higher Market Share in 2020
Figure 5 Consulting Segment to Account for the Largest Market Size in 2020
Figure 6 Banking, Financial Services, and Insurance Vertical to Account for the Largest Market Size in 2020
Figure 7 Europe to Account for the Highest CAGR During the Forecast Period
Figure 8 Growing Government Initiatives to Drive the AI Governance Market
Figure 9 Automotive Vertical to Grow at the Fastest Rate During the Forecast Period
Figure 10 Banking, Financial Services, and Insurance Vertical and North America to Account for the Highest Market Shares in the AI Governance Market in 2020
Figure 11 Banking, Financial Services, and Insurance Vertical to Register the Highest Market Share in 2020
Figure 12 Europe to Be the Best Region for Investments During the Forecast Period
Figure 13 Drivers, Restraints, Opportunities, and Challenges: AI Governance Market
Figure 14 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 15 Software Tools Segment to Grow at A Higher CAGR During the Forecast Period
Figure 16 Integration Segment to Grow at the Highest CAGR During the Forecast Period
Figure 17 Region-Wise Adoption of AI Governance Across Various Verticals By 2025
Figure 18 Automotive Vertical to Register the Highest CAGR During the Forecast Period
Figure 19 North America to Hold the Largest Market Size During the Forecast Period
Figure 20 Germany to Hold the Highest CAGR During the Forecast Period
Figure 21 Europe to Register the Highest Growth Rate During the Forecast Period
Figure 22 North America: Market Snapshot
Figure 23 Automotive Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 24 Europe: Market Snapshot
Figure 25 Automotive Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Automotive Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 28 Automotive Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 29 IBM: Company Snapshot
Figure 30 IBM: SWOT Analysis
Figure 31 Google: Company Snapshot
Figure 32 Google: SWOT Analysis
Figure 33 Microsoft: Company Snapshot
Figure 34 Microsoft: SWOT Analysis
Figure 35 Facebook: Company Snapshot
Figure 36 Facebook: SWOT Analysis
Figure 37 SAP: Company Snapshot
Figure 38 SAP: SWOT Analysis
Figure 39 Salesforce.Com: Company Snapshot
Figure 40 Fico: Company Snapshot
Figure 41 AWS: Company Snapshot

Note: Product cover images may vary from those shown
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  • 2021.AI
  • AWS
  • Facebook
  • Fico
  • Google
  • H2O.AI
  • IBM
  • Integrate.AI
  • Microsoft
  • Pymetrics
  • Salesforce.Com
  • SAP
  • SAS Institute
  • ZestFinance
Note: Product cover images may vary from those shown
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