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
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 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 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 (Page No. - 26)

4 Premium Insights (Page No. - 31)
    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 (Page No. - 34)
    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 (Page No. - 41)
    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 (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 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 (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 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 (Page No. - 74)
    9.1 Introduction
(Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM 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, 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 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 (41 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

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 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 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 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 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 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 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