NEW YORK, July 31, 2023 /PRNewswire/ — The global AI governance market size is estimated to grow by USD 52,0771.88 thousand from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  34.64%. The growth momentum will progress during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 30%. One of the key factors driving the rapid growth of the AI governance market in North America is the significant presence of government organizations, technology companies, and research institutes, who play a crucial role and are actively involved in setting AI governance rules and practices. In addition, there is research and innovation in AI governance driven by collaborations between academic institutions and industrial companies. Hence, such factors are expected to boost the AI governance market growth in this region during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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AI Governance Market – Segmentation Assessment
Segment Overview
Technavio has segmented the AI Governance Market by end-user (government and defense, healthcare ABD life sciences, BFSI, retail, and others), component (solution and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The government and defense segment is estimated to witness significant growth during the forecast period. One of the major end-users of the AI governance market is the government and defense segments, as governments around the world understand the importance of having effective AI governance frameworks in place to ensure responsible and ethical application of these technologies. Furthermore, the application of AI governance techniques in defense is highly dependent on parameters such as data security, algorithmic transparency, and compliance with ethical regulations. Thus, these applications are expected to drive the growth of this segment which in turn will drive the growth of the AI governance market during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report

AI Governance Market – Market Dynamics

Key Driver – 

• One of the key factors driving the artificial intelligence (AI) governance market growth is the increasing adoption of AI technologies across industries.
• Factors such as the growing use of AI technologies in industries such as aerospace and defense, healthcare, and BFSI are significantly driving the growth of the AI governance market.
• Some of the holistic AI governance techniques adopted in organizations include AI ethical frameworks and algorithmic audits. 
• Therefore, these factors are notably driving the growth of the AI governance market during the forecast period.

Leading Trend – 

• The adoption of enterprise AI by SMEs is the primary trend in the artificial intelligence governance market. 
• Owing to the rising complexity and opacity of AI systems, there is an increasing need for equipment to test and understand the decision-making processes of AI algorithms.
• One of the main purposes of algorithmic accountability is to hold AI systems accountable for their activities, especially when those actions have an impact on humans or society. 
• Such developments will improve transparency, reduce bias, and offset any potential negative effects of AI algorithms.
• Thus, these factors are expected to fuel the growth of the AI governance market during the forecast period. 

Significant Challenge – 

• The lack of universally accepted standards and frameworks for AI governance is one of the major challenges to the growth of the market.
• The AI landscape will be fragmented with different methods and practices without a standardized governance framework, leading to inequalities in accountability and transparency.
• This inconsistency will make it difficult for many organizations, governments, and regulators to create clear policies, enforce compliance, and promote trust in AI systems. 
• It is essential to develop worldwide recognized standards and frameworks to ensure responsible and equitable implementation of AI while minimizing risks and maintaining public trust in AI technology.
• Hence, such factors are expected to impede the AI governance market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this AI Governance Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the AI governance market between 2023 and 2027
• Precise estimation of the AI governance market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the AI governance market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of AI governance market vendors

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Table Of Contents 

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global AI governance market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global ai governance market 2017 – 2021 ($ thousand)

• 4.2 End User Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – End User Segment 2017 – 2021 ($ thousand)

• 4.3 Component Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 – 2021 ($ thousand)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ thousand)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ thousand)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Government and defense – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Government and defense – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 35: Data Table on Government and defense – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 36: Chart on Government and defense – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Government and defense – Year-over-year growth 2022-2027 (%)

• 6.4 Healthcare abd life sciences – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Healthcare abd life sciences – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 39: Data Table on Healthcare abd life sciences – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 40: Chart on Healthcare abd life sciences – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Healthcare abd life sciences – Year-over-year growth 2022-2027 (%)

• 6.5 BFSI – Market size and forecast 2022-2027 
• Exhibit 42: Chart on BFSI – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 43: Data Table on BFSI – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 44: Chart on BFSI – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on BFSI – Year-over-year growth 2022-2027 (%)

• 6.6 Retail – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Retail – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 47: Data Table on Retail – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 48: Chart on Retail – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Retail – Year-over-year growth 2022-2027 (%)

• 6.7 Others – Market size and forecast 2022-2027 
• Exhibit 50: Chart on Others – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 51: Data Table on Others – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 52: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ thousand)
• Exhibit 55: Data Table on Market opportunity by End-user ($ thousand)

7 Market Segmentation by Component

• 7.1 Market segments
• Exhibit 56: Chart on Component – Market share 2022-2027 (%)
• Exhibit 57: Data Table on Component – Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 58: Chart on Comparison by Component
• Exhibit 59: Data Table on Comparison by Component

• 7.3 Solution – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Solution – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 61: Data Table on Solution – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 62: Chart on Solution – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Solution – Year-over-year growth 2022-2027 (%)

• 7.4 Services – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Services – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 65: Data Table on Services – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 66: Chart on Services – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Services – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 68: Market opportunity by Component ($ thousand)
• Exhibit 69: Data Table on Market opportunity by Component ($ thousand)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 84: Data Table on APAC – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 85: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027 
• Exhibit 103: Chart on UK – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 ($ thousand)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ thousand)
• Exhibit 116: Data Tables on Market opportunity by geography ($ thousand)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Alphabet Inc.
• Exhibit 123: Alphabet Inc. – Overview
• Exhibit 124: Alphabet Inc. – Business segments
• Exhibit 125: Alphabet Inc. – Key news
• Exhibit 126: Alphabet Inc. – Key offerings
• Exhibit 127: Alphabet Inc. – Segment focus

• 12.4 Amazon.com Inc.
• Exhibit 128: Amazon.com Inc. – Overview
• Exhibit 129: Amazon.com Inc. – Business segments
• Exhibit 130: Amazon.com Inc. – Key news
• Exhibit 131: Amazon.com Inc. – Key offerings
• Exhibit 132: Amazon.com Inc. – Segment focus

• 12.5 Ataccama Corp.
• Exhibit 133: Ataccama Corp. – Overview
• Exhibit 134: Ataccama Corp. – Product / Service
• Exhibit 135: Ataccama Corp. – Key offerings

• 12.6 Dataiku Inc.
• Exhibit 136: Dataiku Inc. – Overview
• Exhibit 137: Dataiku Inc. – Product / Service
• Exhibit 138: Dataiku Inc. – Key offerings

• 12.7 Fair Isaac Corp.
• Exhibit 139: Fair Isaac Corp. – Overview
• Exhibit 140: Fair Isaac Corp. – Business segments
• Exhibit 141: Fair Isaac Corp. – Key news
• Exhibit 142: Fair Isaac Corp. – Key offerings
• Exhibit 143: Fair Isaac Corp. – Segment focus

• 12.8 H2O.ai Inc.
• Exhibit 144: H2O.ai Inc. – Overview
• Exhibit 145: H2O.ai Inc. – Product / Service
• Exhibit 146: H2O.ai Inc. – Key offerings

• 12.9 Informatica Inc.
• Exhibit 147: Informatica Inc. – Overview
• Exhibit 148: Informatica Inc. – Product / Service
• Exhibit 149: Informatica Inc. – Key offerings

• 12.10 International Business Machines Corp. 
• Exhibit 150: International Business Machines Corp. – Overview
• Exhibit 151: International Business Machines Corp. – Business segments
• Exhibit 152: International Business Machines Corp. – Key news
• Exhibit 153: International Business Machines Corp. – Key offerings
• Exhibit 154: International Business Machines Corp. – Segment focus

• 12.11 Meta Platforms Inc.
• Exhibit 155: Meta Platforms Inc. – Overview
• Exhibit 156: Meta Platforms Inc. – Product / Service
• Exhibit 157: Meta Platforms Inc. – Key offerings

• 12.12 Microsoft Corp.
• Exhibit 158: Microsoft Corp. – Overview
• Exhibit 159: Microsoft Corp. – Business segments
• Exhibit 160: Microsoft Corp. – Key news
• Exhibit 161: Microsoft Corp. – Key offerings
• Exhibit 162: Microsoft Corp. – Segment focus

• 12.13 QlikTech international AB 
• Exhibit 163: QlikTech international AB – Overview
• Exhibit 164: QlikTech international AB – Product / Service
• Exhibit 165: QlikTech international AB – Key offerings

• 12.14 Salesforce Inc.
• Exhibit 166: Salesforce Inc. – Overview
• Exhibit 167: Salesforce Inc. – Product / Service
• Exhibit 168: Salesforce Inc. – Key news
• Exhibit 169: Salesforce Inc. – Key offerings

• 12.15 SAP SE
• Exhibit 170: SAP SE – Overview
• Exhibit 171: SAP SE – Business segments
• Exhibit 172: SAP SE – Key news
• Exhibit 173: SAP SE – Key offerings
• Exhibit 174: SAP SE – Segment focus

• 12.16 SAS Institute Inc.
• Exhibit 175: SAS Institute Inc. – Overview
• Exhibit 176: SAS Institute Inc. – Product / Service
• Exhibit 177: SAS Institute Inc. – Key news
• Exhibit 178: SAS Institute Inc. – Key offerings

• 12.17 TIBCO Software Inc.
• Exhibit 179: TIBCO Software Inc. – Overview
• Exhibit 180: TIBCO Software Inc. – Product / Service
• Exhibit 181: TIBCO Software Inc. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 182: Inclusions checklist
• Exhibit 183: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 184: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 185: Research methodology
• Exhibit 186: Validation techniques employed for market sizing
• Exhibit 187: Information sources

• 13.5 List of abbreviations 
• Exhibit 188: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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