Authored By: Sarah
09 Aug 2023

AI Governance Market is forecasted to grow by USD  520771.88 th through 2023-2027  

Technological advancement and the adoption of AI across Industries, have called for practices concerning fairness, and ethical implications of AI, followed by the rising demand for transparency, and accountability in AI systems. The AI Governance Market is all set to experience a market expansion of USD 520,771.88 thousand from 2023 to 2027 with an accelerating market growth at a CAGR of 34.64%.

The AI governance market refers to the framework of laws, rules, and moral principles that control the creation, implementation, and use of AI systems and is referred to as AI governance to promote ethical and reliable AI practices.

Navigating through the growth drivers: Inmumberal factors have contributed to the adoption of AI Governance in the market sphere, some of the major key drivers comprises

  • Rising usage of AI technologies across industries such as aerospace and defense, healthcare, and BFSI, among others are significantly fuelling the global AI governance market growth.
  • SMEs are also keen and adapting to enterprise AI Therefore due to the increasing complexity and opacity of AI systems, there is a growing requirement for devices that enable auditing and comprehension of the decision-making processes of AI algorithms.

Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Refer to our comprehensive report summary for all the details.

artificial intelligence in government market, artificial intelligence in government market size, artificial intelligence in government market trends

AI Governance Market Drivers at a Glance

Key Companies of the AI Governance Market: Some of the prominent names worth mentioning are Dataiku Inc., DataRobot Inc., Fair Isaac Corp., Inc., Informatica Inc., International Business Machines Corp., Kyndi Inc., Meta Platforms Inc., Microsoft Corp., Pymetrics Inc., QlikTech International AB, etc. Our report offers in-depth insights into key vendor profiles with a wider understanding of the business ecosystem. Download a  sample report today.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 34.64%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 520771.88 th through 2023-2027.

  3. What is a key factor driving this market?
    Increasing adoption of AI technologies across industries will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, Middle East and Africa, and South America are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    30% growth will originate from North America

  6. What are the market segments covered in this report?
    The market is segmented by End-user (Government and defense, Healthcare and life sciences, BFSI, Retail, and Others), Component (SolutionsServices), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
Read News Read Less
Interested in this report?
Get your sample now!