AI Governance Market By Component (Solution, Services), By Deployment Mode (On-Premise, Cloud), By Enterprise Size (Large enterprises, Small and medium-sized enterprises (SMEs)), By Industry Vertical (BFSI, Government and Defense, Healthcare and Life Sciences, Media and Entertainment, Retail, IT and Telecom, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Artificial intelligence (AI) is currently a technology with practical applications in contemporary life. AI technology can have a positive impact on economies and society when it is adopted and used properly. The expanding use of AI across a variety of industries, including healthcare, transportation, education, and others, has raised worries about public safety and security, driving the need for AI governance. The idea behind AI governance is that a legal framework should exist to guarantee that Machine Learning (ML) technologies are thoroughly investigated and methodically developed to help humanity accept AI technology fairly. Algorithm effectiveness, ROI (return on investment) risk, and bias are evaluated and monitored as part of AI (Artificial Intelligence) governance. The main objective of AI governance is to close the gap between ethical responsibility and technological advancement.
Surge in governmental efforts to use the Al technology and quick and easy access to historical dataset and convenience of data storage primarily drive the growth of the AI governance market. However, the foundation of thorough ethical standards for Al and inadequate expertise in Al are expected to hamper the market growth. Moreover, AI can significantly reduce discrimination based on gender and a higher level of adherence to technological regulation is expected to provide lucrative opportunities for the market growth during the forecast period.
The global AI governance market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is segregated into solutions and services. On the basis of deployment, it is segregated into cloud and on-premises. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprises (SMEs). On the basis of industry vertical, it is segregated into BFSI, retail, healthcare, government and defense, media and entertainment, automotive and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market includes Amazon Web Services, Inc., QlikTech International AB, TIBCO Software Inc., Meta, SAP SE, International Business Machines Corporation, SAS Institute Inc., Salesforce, Inc., Microsoft Corporation and Alphabet Inc. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ai governance market analysis from 2021 to 2031 to identify the prevailing ai governance market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the ai governance market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global ai governance market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Solution
Services
By Deployment Mode
On-Premise
Cloud
By Enterprise Size
Large enterprises
Small and medium-sized enterprises (SMEs)
By Industry Vertical
BFSI
Government and Defense
Healthcare and Life Sciences
Media and Entertainment
Retail
IT and Telecom
Automotive
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Microsoft Corporation
Amazon Web Services, Inc.
QlikTech International AB
TIBCO Software Inc.
Meta
SAP SE
International Business Machines Corporation
SAS Institute Inc.
Salesforce, Inc.
Alphabet Inc.
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