AI Governance Market Growth Analysis With Investment Opportunities

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AI Governance Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033

AI Governance Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 1, 2024 /EINPresswire / -- The AI governance market has experienced robust growth in recent years, expanding from $0.2 billion in 2023 to $0.29 billion in 2024 at a compound annual growth rate (CAGR) of 45.1%. The growth in the historic period can be attributed to growing demand for transparency and trust in AI systems, increasing easy access to historical datasets and convenience of data storage, proliferating interest in ethical hacking and penetration testing.

Strong Future Growth Anticipated
The AI governance market is projected to continue its strong growth, reaching $1.28 billion in 2028 at a compound annual growth rate (CAGR) of 44.9%. The growth in the forecast period can be attributed to expanding government initiatives to leverage the AI technology, increasing use of AI in retail.

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Growth driver of the AI governance market
An increase in government initiatives to leverage artificial intelligence (AI) technology is expected to propel the growth of the artificial intelligence (AI) governance market going forward. A government initiative is an important act or statement that a government undertakes to address a specific issue or challenge. Government initiatives are used to shape the governance of AI by providing the framework and guidance needed to ensure that AI technologies are developed and used in ways that benefit society while minimizing risks and potential harms.

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Major Players and Market Trends
Key players in the AI governance market include Amazon Inc., Alphabet Inc., Google LLC, Microsoft Corporation, Robert Bosch GmbH, International Business Machines Corporation, Oracle Corporation, SAP SE, ABB Ltd., Tata Consultancy Services Limited, DXC Technology Company, Atos S.E., McAfee Corp.

Major companies operating in the artificial intelligence (AI) governance market are developing innovative solutions, such as AI governance toolkits, to provide reliable services to customers. An AI governance toolkit is a collection of resources and practices designed to help organizations responsibly develop, deploy, and manage artificial intelligence (AI) systems.

Segments:
1) By Component: Solution, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Large Enterprise, Small And Medium-sized Enterprises(SMEs)
4) By Vertical: Banking, Financial Services, and Insurance(BFSI), Government And Defense, Healthcare And Life Sciences, Media And Entertainment, Retail, Information Technology And Telecommunication, Automotive, Others Verticals

Geographical Insights: North America Leading the Market
North America was the largest region in the AI governance market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of AI governance.

AI Governance Market Definition
Artificial intelligence (AI) governance refers to the framework of policies, procedures, and practices put in place to ensure responsible and ethical development, deployment, and use of AI technologies. AI governance aims to establish guidelines and mechanisms to govern the lifecycle of AI systems, from data collection and model training to deployment and ongoing monitoring, with the goal of maximizing the benefits of AI while minimizing potential risks and ensuring ethical use.

AI Governance Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The AI Governance Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on AI governance market size, AI governance market drivers and trends, AI governance market major players, competitors' revenues, market positioning, and market growth across geographies. The AI governance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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