Product Code: PM3567
The global ai in governance market size is expected to reach USD 4,797.50 million by 2032, according to a new study by Polaris Market Research. The report "AI in Governance Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Organizational Size, By Vertical, By Region, And Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing advantages of artificial intelligence (AI) and machine learning (ML), businesses and governments worldwide are undertaking initiatives to adopt these technologies in the market. To effectively implement AI governance solutions, government organizations in numerous countries are establishing councils, developing new regulations, and creating frameworks. The primary objectives of governments utilizing AI governance solutions are to enhance public trust in AI technology and safeguard individual privacy and civil rights. Furthermore, several businesses have formed committees with AI solution providers, academic institutions, and research centers to identify and address risk issues associated with AI technology.
Cloud providers increasingly incorporate ethical norms and principles into their practices to ensure responsible development and utilization of AI workloads. These providers collaborate with governing bodies, regulatory agencies, and other organizations to establish AI governance frameworks. These collaborations harness expertise from diverse fields to create comprehensive and effective frameworks for governing AI. For example, in February 2022, Virtana introduced a platform to manage hybrid cloud deployments leveraging machine learning, artificial intelligence, and data analytics. Through this platform's observability capabilities, customers gain the ability to efficiently manage application workloads across private, public, multi-cloud, and hybrid environments.
In healthcare, explainability and transparency play vital roles in AI governance. Healthcare professionals and patients must clearly understand how AI algorithms operate to improve patient care. Healthcare AI governance frameworks prioritize the need for concise and transparent explanations of AI algorithms' functionality. Medical technologies are developed by businesses or through collaborative efforts between public and private entities. The Internet of Things (IoT) finds numerous applications in healthcare and has the potential to enhance physician treatment delivery while ensuring patient safety and well-being.
The U.S. national plan has recommended establishing an AI research and development (R&D) framework that prioritizes ethical considerations. This framework aims to assist organizations in integrating ethical practices throughout the R&D process while ensuring public engagement and effective marketing strategies. The goal is to promote responsible and transparent AI development that aligns with societal values and addresses potential risks and concerns. By incorporating ethical considerations into AI R&D, the plan seeks to foster public trust and confidence in AI technologies and their applications.
AI in Governance Market Report Highlights
Government & defense segment held the largest share, owing to large scale plans and concerned investments
Solutions segment anticipated to witness steady growth, owing to the increasing usage in the AI systems, and growing dependency on automation
Healthcare segment witnessed steady growth, due to huge untapped avenues in the medial science, and current limitations in diagnosis process
The global players include: ABB Ltd, DXC Technology Company, IBM Corporation, Infosys, Microsoft Corporation, NTT Data, Oracle Inc, SAP, Siemens, Tata Communication Services, and TIBCO
Polaris Market Research has segmented the AI in governance market report based on component, deployment, organization size, vertical, and region:
AI in Governance, Component Outlook (Revenue - USD Million, 2019 - 2032)
AI in Governance, Deployment Outlook (Revenue-USD Million, 2019 - 2032)
AI in Governance, Organization Size Outlook (Revenue-USD Million, 2019 - 2032)
AI in Governance, Vertical Outlook (Revenue-USD Million, 2019 - 2032)
- BFSI
- Government and Defense
- Healthcare and life sciences
- Media and Entertainment
- Retail
- IT and Telecommunication
- Automotive
- Others
AI in Governance, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global AI in Governance Market Insights
- 4.1. AI in Governance - Industry Snapshot
- 4.2. AI in Governance Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing need for AI governance solutions
- 4.2.1.2. Increasing utilization of AI by commercial and governmental organizations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Establishment of comprehensive ethical principles for AI
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. AI in Governance Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global AI in Governance Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global AI in Governance Market, by Component, 2019-2032 (USD Million)
- 5.3. Solution
- 5.3.1. Global AI in Governance Market, by Solution, by Region, 2019-2032 (USD Million)
- 5.4. Services
- 5.4.1. Global AI in Governance Market, by Services, by Region, 2019-2032 (USD Million)
6. Global AI in Governance Market, by Deployment Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 6.3. On-Premises
- 6.3.1. Global AI in Governance Market, by On-Premises, by Region, 2019-2032 (USD Million)
- 6.4. Cloud
- 6.4.1. Global AI in Governance Market, by Cloud, by Region, 2019-2032 (USD Million)
7. Global AI in Governance Market, by Organization Size
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 7.3. Large Enterprise
- 7.3.1. Global AI in Governance Market, by Large Enterprise, by Region, 2019-2032 (USD Million)
- 7.4. SMEs
- 7.4.1. Global AI in Governance Market, by SMEs, by Region, 2019-2032 (USD Million)
8. Global AI in Governance Market, by Vertical
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 8.3. BFSI
- 8.3.1. Global AI in Governance Market, by BFSI, by Region, 2019-2032 (USD Million)
- 8.4. Government and Defense
- 8.4.1. Global AI in Governance Market, by Government and Defense, by Region, 2019-2032 (USD Million)
- 8.5. Healthcare and life sciences
- 8.5.1. Global AI in Governance Market, by Healthcare and life sciences, by Region, 2019-2032 (USD Million)
- 8.6. Media and Entertainment
- 8.6.1. Global AI in Governance Market, by Media and Entertainment, by Region, 2019-2032 (USD Million)
- 8.7. Retail
- 8.7.1. Global AI in Governance Market, by Retail, by Region, 2019-2032 (USD Million)
- 8.8. IT and Telecommunication
- 8.8.1. Global AI in Governance Market, by IT and Telecommunication, by Region, 2019-2032 (USD Million)
- 8.9. Automotive
- 8.9.1. Global AI in Governance Market, by Automotive, by Region, 2019-2032 (USD Million)
- 8.10. Others
- 8.10.1. Global AI in Governance Market, by Others, by Region, 2019-2032 (USD Million)
9. Global AI in Governance Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. AI in Governance Market Assessment, By Geography, 2019-2032 (USD Million)
- 9.3. AI in Governance Market - North America
- 9.3.1. North America: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.3.2. North America: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.3.3. North America: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.3.4. North America: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.3.5. AI in Governance Market - U.S.
- 9.3.5.1. U.S.: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.3.5.2. U.S.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.3.5.3. U.S.: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.3.5.4. U.S.: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.3.6. AI in Governance Market - Canada
- 9.3.6.1. Canada: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.3.6.2. Canada: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.3.6.3. Canada: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.3.6.4. Canada: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4. AI in Governance Market - Europe
- 9.4.1. Europe: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.2. Europe: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.3. Europe: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.4. Europe: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.5. AI in Governance Market - UK
- 9.4.5.1. UK: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.5.2. UK: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.5.3. UK: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.5.4. UK: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.6. AI in Governance Market - France
- 9.4.6.1. France: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.6.2. France: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.6.3. France: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.6.4. France: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.7. AI in Governance Market - Germany
- 9.4.7.1. Germany: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.7.2. Germany: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.7.3. Germany: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.7.4. Germany: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.8. AI in Governance Market - Italy
- 9.4.8.1. Italy: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.8.2. Italy: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.8.3. Italy: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.8.4. Italy: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.9. AI in Governance Market - Spain
- 9.4.9.1. Spain: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.9.2. Spain: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.9.3. Spain: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.9.4. Spain: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.10. AI in Governance Market - Netherlands
- 9.4.10.1. Netherlands: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.10.2. Netherlands: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.10.3. Netherlands: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.10.4. Netherlands: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.4.11. AI in Governance Market - Russia
- 9.4.11.1. Russia: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.4.11.2. Russia.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.4.11.3. Russia: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.4.11.4. Russia: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5. AI in Governance Market - Asia Pacific
- 9.5.1. Asia Pacific: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.2. Asia Pacific: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.3. Asia Pacific: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.4. Asia Pacific: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.5. AI in Governance Market - China
- 9.5.5.1. China: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.5.2. China.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.5.3. China: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.5.4. China: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.6. AI in Governance Market - India
- 9.5.6.1. India: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.6.2. India.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.6.3. India: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.6.4. India: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.7. AI in Governance Market - Japan
- 9.5.7.1. Japan: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.7.2. Japan.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.7.3. Japan: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.7.4. Japan: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.8. AI in Governance Market - Malaysia
- 9.5.8.1. Malaysia: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.8.2. Malaysia.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.8.3. Malaysia: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.8.4. Malaysia: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.9. AI in Governance Market - Indonesia
- 9.5.9.1. Indonesia: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.9.2. Indonesia.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.9.3. Indonesia: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.9.4. Indonesia: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.5.10. AI in Governance Market - South Korea
- 9.5.10.1. South Korea: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.5.10.2. South Korea.: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.5.10.3. South Korea: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.5.10.4. South Korea: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.6. AI in Governance Market - Middle East & Africa
- 9.6.1. Middle East & Africa: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.6.2. Middle East & Africa: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.6.3. Middle East & Africa: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.6.4. Middle East & Africa: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.6.5. AI in Governance Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.6.5.2. Saudi Arabia: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.6.5.3. Saudi Arabia: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.6.5.4. Saudi Arabia: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.6.6. AI in Governance Market - South Africa
- 9.6.6.1. South Africa: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.6.6.2. South Africa: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.6.6.3. South Africa: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.6.6.4. South Africa: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.6.7. AI in Governance Market - Israel
- 9.6.7.1. Israel: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.6.7.2. Israel: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.6.7.3. Israel: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.6.7.4. Israel: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.6.8. AI in Governance Market - UAE
- 9.6.8.1. UAE: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.6.8.2. UAE: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.6.8.3. UAE: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.6.8.4. UAE: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.7. AI in Governance Market - Latin America
- 9.7.1. Latin America: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.7.2. Latin America: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.7.3. Latin America: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.7.4. Latin America: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.7.5. AI in Governance Market - Mexico
- 9.7.5.1. Mexico: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.7.5.2. Mexico: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.7.5.3. Mexico: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.7.5.4. Mexico: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.7.6. AI in Governance Market - Brazil
- 9.7.6.1. Brazil: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.7.6.2. Brazil: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.7.6.3. Brazil: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.7.6.4. Brazil: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
- 9.7.7. AI in Governance Market - Argentina
- 9.7.7.1. Argentina: AI in Governance Market, by Component, 2019-2032 (USD Million)
- 9.7.7.2. Argentina: AI in Governance Market, by Vertical, 2019-2032 (USD Million)
- 9.7.7.3. Argentina: AI in Governance Market, by Deployment Type, 2019-2032 (USD Million)
- 9.7.7.4. Argentina: AI in Governance Market, by Organization Size, 2019-2032 (USD Million)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. ABB Ltd
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. DXC Technology Company
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. IBM Corporation
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Infosys
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Microsoft Corporation
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. NTT Data
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Oracle Inc
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. SAP
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Siemens
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Tata Communication Services
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. TIBCO
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development