AI Governance Market

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
           1.3.3 Years Considered for the Study
    1.4 Currency Considered
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    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 Size Estimation
           2.2.1 Top-Down Approach
           2.2.2 Bottom-Up Approach
    2.3 Market Forecast
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the AI Governance Market
    4.2 Market Top 4 Verticals
    4.3 Market Top 3 Verticals and Region
    4.4 Market By Vertical

5 AI Governance Market Overview and Industry Trends (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Government Initiatives to Leverage the Benefits of Artificial Intelligence Technology
                    5.2.1.2 Increasing Need for Building Trust in Artificial Intelligence Systems and Growing Demand for Transparency in Artificial Intelligence Decisions
                    5.2.1.3 Growing Regulatory Compliances Around the Technology
           5.2.2 Restraints
                    5.2.2.1 Establishing Comprehensive Ethical Principles for Artificial Intelligence
           5.2.3 Opportunities
                    5.2.3.1 Reduction in Gender Bias and Discrimination Through the use of Artificial Intelligence
           5.2.4 Challenges
                    5.2.4.1 Inadequate Artificial Intelligence Expertise and Skills
                    5.2.4.2 Clean and Relevant Data Required to Train Machine Learning Algorithms
    5.3 Common AI Governance Principles
    5.4 Use Cases
           5.4.1 Use Case: Scenario 1
           5.4.2 Use Case: Scenario 2
           5.4.3 Use Case: 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 (SFTR):

6 AI Governance Market By Component (Page No. - 41)
    6.1 Introduction
    6.2 Solution
           6.2.1 Platforms
                    6.2.1.1 Increasing Need for a Comprehensive Solution to Build AI Governance Solution to Drive the Growth
           6.2.2 Software Tools
                    6.2.2.1 Increasing Need for Identifying the Right Influencer to Drive the Growth
    6.3 Services
           6.3.1 Consulting
                    6.3.1.1 Need for Enhanced Strategic Outlook, Improved Performance Efficiencies, and Business Transformation to Drive the Consulting Services
                    6.3.1.2 Integration
                               6.3.1.2.1 Need for Feasible Integration Services to Drive the Deployment and Integration Services
                    6.3.1.3 Support and Maintenance
                               6.3.1.3.1 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 (Page No. - 46)
    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 BFSI
    7.3 Government and Defense
           7.3.1 AI Governance Solution to Become Critical in Areas, Such as Autonomous Weapons and Crime Fighting Models
    7.4 Healthcare and Life Sciences
           7.4.1 Healthcare and Life Sciences to Adopt AI Governance Solution to Manage Medical Treatment and Diagnosis Effectively
    7.5 Media and Entertainment
           7.5.1 Growing Data Privacy Concerns to Create Demand for AI Governance Solutions
    7.6 Retail
           7.6.1 Product Recommendation and Planning to Become Crucial in Retail for Adoption of AI Governance Solution
    7.7 Telecom
           7.7.1 Telecom to Adopt AI Governance Solutions for Effective Management of Assets
    7.8 Automotive
           7.8.1 Critically Associated With Decision Making to Boost Adoption of AI Governance Solution
    7.9 Others

8 AI Governance Market By Region (Page No. - 52)
    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 Governances in Canada
    8.3 Europe
           8.3.1 United Kingdom
                    8.3.1.1 Increasing Adherence of Compliance Policies in AI Technology to Boost 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 Government Initiatives to Become an AI Hub to Drive the Adoption of AI Governance in France
           8.3.4 Rest of Europe
    8.4 Asia Pacific
           8.4.1 China
                    8.4.1.1 Heavy Investment 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 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 the 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 (Page No. - 74)
(Business Overview, Products Offered, Projects Undertaken, Recent Developments, SWOT Analysis, and MnM View)*
    9.1 Introduction
    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
    9.1 ZestFinance
    9.11 2021.AI
    9.12 Pymetrics
    9.13 SAS Institute
    9.14 H2O.AI 
    9.15 Integrate.AI

*Details on Business Overview, Products Offered, Projects Undertaken Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.

10 Appendix (Page No. - 99)
     10.1 Industry Excerpts
     10.2 Discussion Guide
     10.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     10.4 Available Customizations
     10.5 Related Reports
     10.6 Author Details

List of Tables (28 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 Market Size By Component, 2019–2025 (USD Million)
Table 5 Solution: Market Size By Solution, 2019–2025 (USD Million)
Table 6 Service: Market Size By Services, 2019–2025 (USD Million)
Table 7 AI Governance Market Size, By Vertical, 2019–2025 (USD Million)
Table 8 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 RoW: AI Governance Market Size, By Region, 2019–2025 (USD Thousand)
 
 
List of Figures (41 Figures)
 
Figure 1 Global AI Governance Market: Research Design
Figure 2 Market Breakup and Data Triangulation
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 Services to Account for a Larger Market Size in 2020
Figure 6 BFSI 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 a 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 Market Investment Scenario: Asia Pacific 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 the Highest CAGR During the Forecast Period
Figure 16 Integration Services Segment to Grow at the Highest CAGR During the Forecast Period
Figure 17 Region Wise Adoption of AI Governance Across Various Industries 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 Largest Market Size During the Forecast Period
Figure 21 Europe to Register the Highest Growth Rate During the Forecast Period
Figure 22 North America: AI Governance 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: AI Governance 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

The study involved 4 major activities in estimating the current market size for the AI governance market. Exhaustive secondary research was done to collect information on the AI governance market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the AI governance market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred to, to identify and collect information for this study. These secondary sources included annual reports; press releases; and investor presentations of companies, whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The AI governance market comprises several stakeholders, such as AI governance vendors, cloud solution providers, system integrators, professional service providers, resellers and distributors, research organizations, government agencies, enterprise users, venture capitalists, private equity firms, and startup companies. The demand side of the AI governance market consists of enterprises from different verticals, such as telecom, healthcare and life sciences, government and defense, Banking Financial Services and Insurance (BFSI), automotive, retail, media and entertainment, and others (education, travel and transportation, manufacturing, and energy and utilities). The supply side includes AI governance providers, offering AI governance solutions and services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakup of the primary respondents:

To know about the assumptions considered for the study, download the pdf brochure

AI Governance Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the AI governance market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets were identified through extensive secondary research.
• The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
• All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Various factors impacting the AI governance market, such as recent developments, regulations, technology maturity, research and development,Information Technology (IT) spending, cloud deployment, mergers and acquisitions, and partnerships were considered in the study.

Report Objectives

• To define, describe, and forecast the AI governance market by component, solution, service, vertical, and region
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the AI governance market
• To analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
• To forecast the size of the market segments with respect to main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To profile the key players in the market and comprehensively analyze their market share and core competencies
• To track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the AI governance market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product analysis

• Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

• Further breakup of the North American AI governance market into countries
• Further breakup of the European market into countries
• Further breakup of the APAC market into countries
• Further breakup of the Row market into countries

Company Information

• Detailed analysis and profiling of additional market players