Latest News- Artificial Intelligence (Ai) Governance Market: Government and defense is expected to lead the End-user segment during 2025-2029

The Artificial Intelligence (Ai) Governance Market is being driven by Increasing adoption of AI technologies across industries

The Artificial Intelligence (Ai) Governance Market is expected to grow at a CAGR of 64.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3127734.9 thousand. The integration of Artificial Intelligence (AI) technologies by Small and Medium Enterprises (SMEs) is fueling the expansion of the global AI market. SMEs are harnessing AI solutions to amplify operational productivity, augment customer interactions, and secure competitive edges. Tools such as chatbots, predictive analytics, and automated workflows empower SMEs to optimize processes, curtail expenses, and make informed business decisions. The proliferation of cost-effective AI offerings designed for SMEs, coupled with advancements in cloud computing, is democratizing AI adoption. Furthermore, government incentives and digital transformation programs are expediting this trend, enabling SMEs to incorporate AI into their business strategies and compete effectively against larger corporations. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Government and defense
  • Healthcare and life sciences
  • BFSI
  • Retail
  • Others
• Component
  • Solution
  • Services
• Application
  • Model lifecycle management
  • Risk and compliance
  • Monitoring and auditing
  • Ethics and responsible AI
• Deployment
  • Cloud
  • On-premises
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing adoption of AI technologies across industries
• Growing concerns about bias, fairness, and ethical implications of AI
• Rising demand for transparency, explain-ability, and accountability in AI systems

However, the market also witnesses some limitations, which are as follows:

• Lack of universally accepted standards and frameworks for AI governance
• Difficulty in regulating rapidly evolving AI technologies
• Balancing innovation and regulation to avoid stifling AI development

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Market Scope in Artificial Intelligence (Ai) Governance Market Research Report

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Research Analysis Overview

The Artificial Intelligence (AI) governance market encompasses various aspects of managing and regulating the development, deployment, and use of AI systems. Key areas include algorithmic fairness, data governance, privacy by design, responsible AI, AI safety, reliability, control, oversight, regulation, ethics guidelines, principles, values, impact analysis, risk assessment, due diligence, transparency framework, explainable AI, bias detection, compliance audits, and the AI governance community and forum. These elements ensure ethical, unbiased, and safe implementation of AI, protecting privacy, promoting transparency, and mitigating risks.

Market Research Overview

The Artificial Intelligence (AI) Governance Market encompasses businesses offering AI ethics, risk management, compliance, and auditing services. This segment falls under the broader IT consulting and other services market, which includes companies providing IT consulting, information management, and various IT infrastructure services. According to Technavio, market growth is attributed to increasing government investments in advanced IT infrastructure, resulting in a heightened demand for specialized AI services to ensure ethical implementation, mitigate risks, maintain compliance, and conduct thorough audits.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/