AI Governance Service Market Trends and Forecast
The future of the global AI governance service market looks promising with opportunities in the it, consumer & personal service, media, and legal service markets. The global AI governance service market is expected to grow with a CAGR of 23.4% from 2024 to 2030. The major drivers for this market are increasing regulatory requirements and growing awareness towards bias and fairness among population.
• Lucintel forecasts that compliance service is expected to witness the highest growth over the forecast period.
• Within this market, IT is expected to witness the highest growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Governance Service Market
• United States: In the United States, the AI governance service market has witnessed significant developments with companies like IBM and Microsoft leading initiatives. IBM has launched AI governance frameworks and tools aimed at ensuring ethical AI use, including fairness, transparency, and accountability in AI systems. Microsoft has introduced AI governance solutions through its Azure platform, focusing on compliance, data privacy, and risk management to support responsible AI deployment. Government initiatives in the U.S. include policies and guidelines on AI ethics and governance frameworks, indirectly supporting companiesÄX%$%X efforts to enhance AI governance practices.
• India: In India, the AI governance service market is emerging with companies focusing on developing frameworks for ethical AI use. Startups and tech firms are introducing tools for AI transparency, bias detection, and compliance with local data protection regulations. Government initiatives include the National Strategy for Artificial Intelligence, which emphasizes the importance of ethical AI governance and regulatory frameworks to promote responsible AI adoption
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Governance Service Market by Segment
The study includes a forecast for the global AI governance service market by type, application, and region.
AI Governance Service Market by Type [Value from 2018 to 2030]:
• Compliance Services
• AI Ethics Consulting
• Data Governance Services
• Auditing & Testing Services
• Others
AI Governance Service Market by Application [Value from 2018 to 2030]:
• IT
• Consumer & Personal Services
• Media
• Legal Services
• Others
AI Governance Service Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Governance Service Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI governance service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI governance service companies profiled in this report include-
• Keyrus
• Accenture
• H2O.Ai
• Google
• Sap
• Abzoids
• Truera
• Protopia Ai
• Arthur
• AI Governance
Recent Development in the AI Governance Service Market
• IBM: IBM has been a leader in AI ethics and governance, developing comprehensive frameworks and tools to ensure responsible AI deployment. Their initiative includes guidelines for fairness, transparency, and accountability in AI systems, addressing issues, such as bias detection and mitigation. IBMÄX%$%Xs efforts aim to foster trust in AI technologies among businesses and consumers globally.
• Microsoft: Microsoft has introduced AI governance solutions through its Azure platform, focusing on tools for AI model explain ability, compliance, and data privacy. Their initiative includes AI Ethics Boards and compliance frameworks to guide organizations in ethical AI deployment and regulatory adherence. Microsoft emphasizes transparency and accountability in AI decision-making processes to build confidence in the AI applications.
• Google: Google has established AI principles and an Ethics Board to guide the development and deployment of AI technologies responsibly. Their initiative includes commitments to fairness, privacy protection, and societal benefit in the AI applications. GoogleÄX%$%Xs efforts aim to integrate ethical considerations into AI research and product development across its platforms.
• Salesforce: Salesforce focuses on ethical AI practices through its AI Ethics Advisory Board and guidelines for AI governance. Their initiative includes policies for inclusive AI development, fairness in AI algorithms, and compliance with data protection regulations. Salesforce aims to empower businesses with AI tools that prioritize ethical considerations and societal impact.
Features of the Global AI Governance Service Market
Market Size Estimates: AI governance service market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI governance service market size by type, application, and region in terms of value ($B).
Regional Analysis: AI governance service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI governance service market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI governance service market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI governance service market?
Answer: The global AI governance service market is expected to grow with a CAGR of 23.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI governance service market?
Answer: The major drivers for this market are increasing regulatory requirements and growing awareness towards bias and fairness among population.
Q3. What are the major segments for AI governance service market?
Answer: The future of the AI governance service market looks promising with opportunities in the it, consumer & personal service, media, and legal service markets.
Q4. Who are the key AI governance service market companies?
Answer: Some of the key AI governance service companies are as follows:
• Keyrus
• Accenture
• H2O.Ai
• Google
• Sap
• Abzoids
• Truera
• Protopia Ai
• Arthur
• AI Governance
Q5. Which AI governance service market segment will be the largest in future?
Answer: Lucintel forecasts that compliance service is expected to witness the highest growth over the forecast period.
Q6. In AI governance service market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI governance service market by type (compliance service, AI ethics consulting, data governance service, auditing & testing service, and others), application (IT, consumer & personal service, media, legal service, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Governance Service Market, AI Governance Service Market Size, AI Governance Service Market Growth, AI Governance Service Market Analysis, AI Governance Service Market Report, AI Governance Service Market Share, AI Governance Service Market Trends, AI Governance Service Market Forecast, AI Governance Service Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.