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Pulished Date April, 2021
ID: 10263
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Global AI Governance Market By Component (Solutions and Services) By Deployment Mode (Cloud and On-Premises) By Vertical (BFSI, Government and Defense, Media and Entertainment, Healthcare and Life Sciences, Automotive, Telecom, Retail and Others) and By Region: Industry Perspective, Comprehensive Analysis and Forecast, 2021 - 2026

Pulished: April, 2021
ID: 10263
Pages: 150

Global AI Governance Market Size & Growth (2020 – 2025)

The global AI governance market will progress from $51 million in 2020 to $316 million by 2025, with a CAGR of 44.3% during the outlook period.

Artificial intelligence or AI is the buzzword of the present day. Increase in government initiatives and measures for optimal use of AI technology and to make AI systems more reliable. Additionally, there has been a growing demand for more transparency in decisions related to AI technology. These factors are likely to drive the growth of the global AI governance market. However, a better understanding of AI skills and data is needed to reap the benefits for years to come.

The AI governance process includes a framework and policies that aim to continuously develop, design and monitor machine learning (ML) algorithms and models. The purpose behind this is to ensure that the results remain free from any kind of bias. The government should emphasize and focus on the responsible, transparent and ethical use of AI systems.

As industries face the potential for breaking laws while working with the environment, adopting an AI governance solution minimizes the gap between responsibility and ethics in advanced technologies. The increasing adoption of AI across all industry verticals makes the adoption of AI governance necessary.

Recent Developments:

  • In January 2019, Facebook published about its deal with Technical University of Munich and its internal project known as Fairness Flow that comes with various tools that can produce metrics to determine whether or not there are unwanted metrics on specific models.
  • In August 2019, Microsoft announced the Digital Governance Tech Tour, which will help accelerate the digital initiative in India. The project includes a series of physical and virtual sessions and aims to train 5,000 employees over a 12-month period. This program includes the provision of artificial intelligence and intelligent cloud computing skills to government officials across the country.
  • In September 2018, IBM Corporation released AI Fairness 360 (AIF360), which is a comprehensive set of open source tools for unwanted biases in data sets and cutting edge algorithms and machine learning designs to mitigate these bias. This version of the AIF360 Python suite includes nine different algorithms created by the broader equity research community to mitigate this unwanted bias. The launch of this product helps the company attract researchers from around the world to use this set of tools.

Market Growth and Trends:

Services segment will grow at a higher CAGR during the forecast period

The services segment plays a vital role in the software lifecycle by implementing platforms and performing related activities. These services include consulting, integration, support and maintenance, which are necessary to implement, run and maintain AI governance solutions. They help build a strategic and operational plan to identify the effective way to achieve business goals.

Automotive segment will grow at the highest rate during the forecast period

Autonomous transportation is one of the areas of the automotive industry where AI governance solutions should play an important role because if an autonomous vehicle makes a mistake in decision making it can directly lead to loss of life. Therefore, given that self-driving cars can play an important role in decision-making related to life or death, they are expected to become the primary adopters of the AI governance solution.

Drivers and Market Restraints:

  • Intensifying government efforts to harness the benefits of artificial intelligence technology is driving growth in this market.
  • The growing need to build trust in artificial intelligence systems and the growing demand for transparency in artificial intelligence decisions also act as market drivers.
  • Increasing compliance with technological regulations is driving the growth of this market.
  • Reducing gender bias and discrimination through the use of artificial intelligence accelerates the growth of this market.
  • Establishing comprehensive ethical principles for artificial intelligence limits the growth of this market.
  • The high investment cost is holding back the growth of this market. Insufficient experience and skills in artificial intelligence are also a market limitation

Market segmentation:

  • Based on the components, the AI governance market fragments into solutions and services. The solutions segment is expected to see further growth in the future due to the critical role it plays during the implementation of the software lifecycle. These services include advice, integration, maintenance and support. They help build an operational and strategic plan to identify essential methods to achieve business objectives.
  • Based on the deployment, the global market is mainly bifurcated as cloud and on-premises. Vertically, the AI governance market is divided into BFSI, Media and Entertainment, Government and Defense, Health and Life Sciences, Telecommunications, Retail, Automotive, and Others. Since autonomous cars will play an important role in decisions related to life or death, it is anticipated that they will become a major adopter of AI governance.

Regional Analysis:

In the global AI governance market, North America is expected to have the largest volume, while Europe is expected to experience the fastest growth during the forecast period. In terms of implementing and improving AI governance strategies, North America should be the number one sector. Due to AI regulation, various innovations are taking place in the European region, so Europe is expected to grow at the fastest pace in the coming years. The adoption of AI-based services will grow in the region, due to the growing ethical issues in AI technologies and the growing need for a legal framework to ensure the development of the machine learning algorithm, thus stimulating the growth of the AI governance industry.

Key market players:

Few of the top competitors currently working in the global AI governance market are IBM Corporation, Google, Microsoft, Facebook, SAP SE, Salesforce.com, Inc., Fair Isaac Corporation, BoardBookit, Inc., Intel Corporation, NVIDIA Corporation, Anki, AIBrain Inc., Banjo, Apple Inc., Amazon.com, Inc., Appier Inc., SenseTime, Kindred, Inc., OrCam, among others.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 AI Governance Market, By Component                         

                                6.1.1 Solutions  

                                6.1.2 Services    

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 AI Governance Market, By Deployment                        

                                6.2.1 On-Premises          

                                6.2.2 Cloud         

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

                6.3 AI Governance Market, By Vertical                  

                                6.3.1 BFSI            

                                6.3.2 Government and Defense               

                                6.3.3 Media and Entertainment

                                6.3.4 Healthcare and Life Sciences           

                                6.3.5 Automotive            

                                6.3.6 Telecommunication            

                                6.3.7 Retail         

                                6.3.8 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.9 Y-o-Y Growth Rate Analysis             

                                6.3.10 Market Attractiveness Index        

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              



                                7.2.2 By Component      

                                7.2.3 By Deployment     

                                7.2.4 By Vertical               

                7.3 Europe                         

                                7.3.1 By Country              






                                       Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By Deployment     

                                7.3.4 By Vertical               

                7.4 Asia Pacific                  

                                7.4.1 By Country              




                                       South Korea

                                       South East Asia

                                       Australia & NZ

                                       Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By Deployment     

                                7.4.4 By Vertical               

                7.5 Latin America                             

                                7.5.1 By Country              




                                       Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By Deployment     

                                7.5.4 By Vertical               

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                       Middle East


                                7.6.2 By Component      

                                7.6.3 By Deployment     

                                7.6.4 By Vertical               

8. Key Player Analysis                                    

                8.1 IBM Corporation                      

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Google                         

                8.3 Microsoft                    

                8.4 Facebook                    

                8.5 SAP SE                          

                8.6 Salesforce.com, Inc                 

                8.7 Fair Isaac Corporation                            

                8.8 Intel Corporation                     

                8.9 NVIDIA Corporation                

                8.10 Apple Inc                   

9. Market Outlook & Investment Opportunities                                


                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Component, Deployment Mode, Vertical along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global AI Governance Market By Region, From 2020-2025 ( USD Billion )
  2. Global AI Governance Market By Component, From 2020-2025 ( USD Billion )
  3. Global Solutions Market By Region, From 2020-2025 ( USD Billion )
  4. Global Services Market By Region, From 2020-2025 ( USD Billion )
  5. Global AI Governance Market By Deployment, From 2020-2025 ( USD Billion )
  6. Global On-Premises Market By Region, From 2020-2025 ( USD Billion )
  7. Global Cloud Market By Region, From 2020-2025 ( USD Billion )
  8. Global AI Governance Market By Vertical, From 2020-2025 ( USD Billion )
  9. Global BFSI Market By Region, From 2020-2025 ( USD Billion )
  10. Global Government and Defense Market By Region, From 2020-2025 ( USD Billion )
  11. Global Media and Entertainment Market By Region, From 2020-2025 ( USD Billion )
  12. Global Healthcare and Life Sciences Market By Region, From 2020-2025 ( USD Billion )
  13. Global Automotive Market By Region, From 2020-2025 ( USD Billion )
  14. Global Telecommunication Market By Region, From 2020-2025 ( USD Billion )
  15. Global Retail Market By Region, From 2020-2025 ( USD Billion )

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