Dublin, Nov. 15, 2019 (GLOBE NEWSWIRE) -- The "AI Governance Market by Component (Solutions (Platforms and Software Tools) and Services), Vertical (BFSI, Healthcare and Life Sciences, Government and Defense, Telecom, Retail, and Automotive), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global AI Governance Market Size is Expected to Grow from USD 51 Million in 2019 to USD 316 Million by 2025, at a CAGR of 44.3%.

Major players profiled in the report are IBM Corporation (IBM), 2021.AI, Microsoft Corporation (Microsoft), Salesforce.com, Inc. (Salesforce.com), Facebook, Inc. (Facebook), Google Inc. (Google), Amazon Web Services, Inc. (AWS), Fair Isaac Corporation (FICO), SAP SE (SAP), SAS Institute Inc. (SAS Institute), ZestFinance Inc. (ZestFinance), integrate.ai Inc. (integrate.ai), H2O.ai, Inc. (H2O), and Pymetrics Inc. (Pymetrics).

Growing demand for building trust in AI systems and increasing demand for transparency in AI decisions are expected to drive the growth of the AI governance market

The growth of the market can be attributed to increasing government initiatives to leverage the benefits of Artificial Intelligence (AI) technology. However, understanding of data and AI skills hinder the growth of the market.

The automotive vertical is projected to grow at the highest CAGR during the forecast period

Autonomous transportation is one of the areas in the automotive industry where the AI governance solutions are expected to be playing a major role because if the autonomous vehicle makes a mistake in decision making it can directly lead to the loss of life. Therefore, as self-driving cars can have a major role in making life and death-related decisions, they are expected to become a major adopter of AI governance solutions.

The consulting services segment is expected to account for a higher market share during the forecast period as compared to the managed services segment

Organizations require consulting services for an enhanced strategic outlook, improved performance efficiencies, and transformation of business operations. With the help of consulting services, marketers can offer tailored content to their customers and deliver the maximum benefits.

Europe expected to grow at the highest growth rate during the forecast period

The AI governance market in Europe is expected to grow at a rapid pace during the forecast period. The region is expected to hold the second-largest market size in the global AI governance market. Various verticals across the region are focusing on incorporating AI governance model, to monitor the AI algorithm on a real-time basis, and to avoid complications and ethical challenges of post-development of the AI system. The European countries and regulatory authorities are at the forefront in conducting research on ethical AI and governance of AI technology.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
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
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
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
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
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
9.1 Introduction
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

For more information about this report visit https://www.researchandmarkets.com/r/c3sqjx

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