Adroit Market Research - Industry Insights
AI Governance Market by Component (Platform and Services (Support & Maintenance, Consulting, and Integration)), Technology (Natural Language Processing, Computer Vision, Machine Learning, and Others), Industry Verticals (BFSI, IT & Telecom, Healthcare, Retail, Government & Defense, automotive, and Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America), Global Forecast, 2018 to 2025
Apr 2020
Total Pages: 123
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AI governance is a framework that comprises the legal arrangements and polices to supervise, develop, and design, models, and algorithms of machine learning (ML). The adoption of AI technology is growing exponentially since the last few years as it has wide applications across numerous industries. Hence, to ensure accountability and transparency of AI systems is becoming necessary to further enhance the outcomes generated from AI technology. Hence, such factors driving the demand for AI governance across the globe.
The global AI governance market size is anticipated to reach nearly USD 363 million by 2025. This can be attributed to the increasing regulatory compliance of AI technology. Also, the growing need to bring transparency in AI decisions is boosting the global AI governance market growth.
.png "Global AI Governance Market 2018-2025 (USD Million)")
However, high initial investment costs are expected to hamper the market growth. Furthermore, the advent of 5G technology and lack of skills and expertise are anticipated to provide growth opportunities for the AI governance market in the upcoming years.
Key Segments of the Global AI Governance Market
Component Overview, 2018-2025 (USD Million)
- Platform
- Services
- Support & Maintenance
- Consulting
- Integration
Technology Overview, 2018-2025 (USD Million)
- Natural Language Processing
- Computer Vision
- Machine Learning
- Others
Industry Verticals Overview, 2018-2025 (USD Million)
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Government & Defense
- Automotive
- Others
Regional Overview, 2018-2025 (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global AI governance market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global AI governance market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the AI governance industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative Industry Verticals of the market segmented based on components, technology, and industry verticals. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global AI governance market. The report will benefit Every stakeholder involved in the AI governance market.
- Managers within the AI governance industry looking to publish recent and forecasted statistics about the global AI governance market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global AI governance market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The advancements in AI technology are opening new avenues for various enterprises and industries operating in economics, education, transportation, public safety, healthcare, and others. However, with the advantages and positive effects, AI can be manipulated in such a way that its negative aspects can lead to disasters. The governance typically states a legal framework that ensures that machine learning technologies are well developed and examined to assist humans or businesses. Hence, such factors combined driving the demand for AI governance worldwide.
Component Segment
Based on the component segment, the market is divided into platforms and services. The services segment has been further segmented into support & maintenance, consulting, and integration. In the year 2019, the platform segment accounted for the highest market revenue and it is projected to accumulate the major market share throughout the forecast period. On the contrary, the service segment accumulated the highest growth and it is expected to keep its position during the forecast period. The growth of this segment is primarily accredited to the increasing need to achieve and build strategic business goals.
Technology Segment
Based on technology, the market is segmented into natural language processing, computer vision, machine learning, and others. The natural language processing segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. On the contrary, the computer vision segment accounted for the highest growth and it is expected to maintain its position over the forecast period.
Industry Verticals Segment
In terms of industry verticals, the market is segmented into BFSI, IT & telecom, healthcare, retail, government & defense, automotive, and others. The automotive segment accounted for the major market share in 2019 and it is expected to do so throughout the forecast period. The growth of this segment is primarily accredited to the increasing adoption and implementation of AI technology in connected and autonomous cars.
The North American region dominated the overall market in 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the on-going development and research on building autonomous cars in this region. However, the European region is projected to experience the highest growth throughout the forecast period.
.png "North America AI Governance Market 2018-2025 (USD Million)")
The major players of the global AI governance market are Amazon Web Services, Facebook, IBM, Salesforce, Microsoft, FICO, SAP, H2O.ai, SAS Institute, and Intel Corporation. Moreover, the other prospective players in the AI governance market are Pymetrics, integrate.ai, 2021.AI, Fair Isaac Corporation, and ZestFinance. The recognized companies are coming up with innovative and new AI governance solutions. The AI Governance market comprises well established local as well as global players. Also, the previously recognized market players are coming up with new advanced solutions to stay competitive in the global market.
AI governance is a framework that comprises the legal arrangements and polices to supervise, develop, and design, models, and algorithms of machine learning (ML). The adoption of AI technology is growing exponentially since the last few years as it has wide applications across numerous industries. Hence, to ensure accountability and transparency of AI systems is becoming necessary to further enhance the outcomes generated from AI technology. Hence, such factors driving the demand for AI governance across the globe.
The global AI governance market size is anticipated to reach nearly USD 363 million by 2025. This can be attributed to the increasing regulatory compliance of AI technology. Also, the growing need to bring transparency in AI decisions is boosting the global AI governance market growth.
However, high initial investment costs are expected to hamper the market growth. Furthermore, the advent of 5G technology and lack of skills and expertise are anticipated to provide growth opportunities for the AI governance market in the upcoming years.
Key Segments of the Global AI Governance Market
Component Overview, 2018-2025 (USD Million)
- Platform
- Services
- Support & Maintenance
- Consulting
- Integration
Technology Overview, 2018-2025 (USD Million)
- Natural Language Processing
- Computer Vision
- Machine Learning
- Others
Industry Verticals Overview, 2018-2025 (USD Million)
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Government & Defense
- Automotive
- Others
Regional Overview, 2018-2025 (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global AI governance market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global AI governance market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the AI governance industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative Industry Verticals of the market segmented based on components, technology, and industry verticals. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global AI governance market. The report will benefit Every stakeholder involved in the AI governance market.
- Managers within the AI governance industry looking to publish recent and forecasted statistics about the global AI governance market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global AI governance market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Industry Verticals
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Increasing regulatory compliance
4.3.1.2 Growing need to bring transparency in AI decisions
4.3.2 Restraints
4.3.2.1 High initial investment costs
4.3.2.2 Opportunities
4.3.3.1 The advent of 5G technology and lack of skills & expertise
4.4 Porter’s Five Forces Industry Verticals
4.5 PEST Industry Verticals
Chapter 5 AI Governance Market by Component
5.1 Introduction
5.1.1 Platform
5.1.2 Services
5.1.2.1 Support & Maintenance
5.1.2.2 Consulting
5.1.2.2 Integration
Chapter 6 AI Governance Market by Technology
6.1 Introduction
6.1.1 Natural Language Processing
6.1.2 Computer Vision
6.1.3 Machine Learning
6.1.4 Others
Chapter 7 AI Governance Market by Industry Verticals
7.1 Introduction
7.1.1 BFSI
7.1.2 IT & Telecom
7.1.3 Healthcare
7.1.4 Retail
7.1.5 Government & Defense
7.1.6 Automotive
7.1.7 Others
Chapter 8 AI Governance Market By Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Rest of South America
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Customer Targeting
Chapter 10 Company Profiles
10.1 Facebook
10.1.1 Overview
10.1.2 Products and Services Portfolio
10.1.3 Recent Initiatives
10.1.4 Company Financials
10.1.5 SWOT
10.2 Amazon Web Services
10.2.1 Overview
10.2.2 Products and Services Portfolio
10.2.3 Recent Initiatives
10.2.4 Company Financials
10.2.5 SWOT
10.3 IBM
10.3.1 Overview
10.3.2 Products and Services Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 Salesforce
10.4.1 Overview
10.4.2 Products and Services Portfolio
10.4.3 Recent Initiatives
10.4.4 Company Financials
10.4.5 SWOT
10.5 Microsoft
10.5.1 Overview
10.5.2 Products and Services Portfolio
10.5.3 Recent Initiatives
10.5.4 Company Financials
10.5.5 SWOT
10.6 FICO
10.6.1 Overview
10.6.2 Products and Services Portfolio
10.6.3 Recent Initiatives
10.6.4 Company Financials
10.6.5 SWOT
10.7 H2O.ai
10.7.1 Overview
10.7.2 Products and Services Portfolio
10.7.3 Recent Initiatives
10.7.4 Company Financials
10.7.5 SWOT
10.8 SAS Institute
10.8.1 Overview
10.8.2 Products and Services Portfolio
10.8.3 Recent Initiatives
10.8.4 Company Financials
10.8.5 SWOT
10.9 Intel Corporation
10.9.1 Overview
10.9.2 Products and Services Portfolio
10.9.3 Recent Initiatives
10.9.4 Company Financials
10.9.5 SWOT
10.10 SAP
10.10.1 Overview
10.10.2 Products and Services Portfolio
10.10.3 Recent Initiatives
10.10.4 Company Financials
10.10.5 SWOT
10.11 Other Companies