Product ID: UCMIG45A2128
Report ID:
UCMIG45A2128 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for AI governance, which was valued at USD 124.3 million in 2022, is poised for significant growth, with a projected compound annual growth rate (CAGR) of 35.6% from 2023 to 2030. This expansion is being driven by various factors, including increased regulatory and legal requirements, industry-specific considerations, the emergence of AI governance consulting services, and a growing demand for explainable AI. Additionally, there is a heightened awareness of the potential risks and challenges associated with AI as its adoption spreads across various sectors, such as algorithmic bias, privacy concerns, and safety risks. To ensure responsible and ethical development and utilization of AI, both businesses and governments are allocating more resources to AI governance.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45A2128