AI Model Risk Management Market Opportunities And Business Strategies To 2034 - Healthcare Industry Set For Rapid AI Risk Management Adoption By 2029

(MENAFN- GlobeNewsWire - Nasdaq) The AI model risk management market presents key opportunities in developing solutions for cloud-based deployments, focusing on SMEs, expanding in emerging markets, and enhancing AI model capabilities for governance. Emphasizing services and healthcare sectors while leveraging partnerships and digital identity advancements can drive growth.

Dublin, Sept. 25, 2025 (GLOBE NEWSWIRE) -- The "AI Model Risk Management Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets's offering.

The comprehensive report on the AI model risk management market delineates its trajectory from 2019 to 2034. It includes an in-depth analysis of the sector across different regions and major economies. As of 2024, the global AI model risk management market is valued at approximately $6.17 billion, having expanded at a compound annual growth rate (CAGR) of 13.14% since 2019. Looking ahead, expectations for market growth remain positive, projecting an increase to $11.41 billion by 2029 at a CAGR of 13.09%, and then to $20.81 billion by 2034, growing at a CAGR of 12.77%.

Historically, market growth has been propelled by heightened cloud adoption, increased digital transactions, and burgeoning awareness around cyber security threats, alongside supportive governmental initiatives. Challenges faced include a skilled professional shortage and hurdles in integrating legacy systems. Future drivers include the increased incorporation of AI and ML in regulated industries, enhancement of internal audit functions, and the increasing complexity and failure incidents of AI models. Potential growth inhibitors are organizational resistance to change, high implementation costs, and geopolitical factors like trade wars.

In 2024, North America led the market, representing 37.66% or $2.32 billion. Asia Pacific and the Middle East are anticipated to be the fastest-growing regions, with CAGRs of 15.74% and 14.71%, respectively, followed by Africa and Western Europe.

The market consolidates around major players, with the top 10 competitors accounting for 41.97% of the market in 2023. IBM leads with a 6.94% market share, followed by Microsoft, Google, SAS Institute, and FICO among others.

Segment-wise, solutions dominate the market by component, constituting 66.96% or $4.13 billion in 2024. However, services are projected to grow the fastest with a 14.15% CAGR between 2024 and 2029. Deployment-wise, cloud-based models prevail, making up 62.57% or $3.86 billion in 2024, with further growth driven by a 14.24% CAGR. By organization size, large enterprises are the current major segment, but SMEs are set to grow rapidly at a 15.01% CAGR. In terms of application, model validation holds the largest share, but model monitoring will expand swiftly with a 14.29% CAGR.

Industry vertical segmentation finds IT & telecommunications leading the market, while healthcare presents the fastest growth prospects at a 14.05% CAGR through 2029.

Opportunities abound across various segments: solutions will gain $3.32 billion, cloud-based models $3.65 billion, large enterprises $2.89 billion, model validation $1.72 billion, and IT & telecom $1.66 billion by 2029. The U.S. market is expected to expand by $1.52 billion during this period.

Emerging strategies emphasize innovation through digital identity development and AI model advancement to secure competitive advantages. Companies are advised to pursue strategic partnerships for business growth, strengthen digital identity capabilities, and leverage emerging markets. Further recommendations include focusing on the service segment, expanding cloud-based services, targeting SMEs, and leveraging healthcare sector growth. Additionally, structured value-based pricing, strategic digital marketing, thought leadership through collaboration, and model monitoring are key focus areas.

Report Scope

The report addresses pivotal questions on market sizing, growth, segmentation, and competitive landscape. Its scope includes detailed historical analysis and future forecasts, contextualizing the AI model risk management market against wider economic, demographic, and industry shifts.

Markets Covered:

1) Component: Solution; Service

2) Deployment Mode: Cloud-Based; on-Premise

3) Organization Size: Large Enterprises; SMEs

4) Application: Model Documentation; Model Governance; Monitoring; Validation

5) Industry Vertical: Banking, Financial Services & Insurance; Healthcare; IT & Telecom; Retail E-Commerce; Other Verticals

Companies Mentioned: IBM; Microsoft Corp.; Google LLC; SAS Institute; FICO Corp.

Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data Segmentation: Country and regional historical and forecast data, competitor market shares, and distinct market segments.

Key Attributes

Report Attribute	Details
No. of Pages	326
Forecast Period	2024 - 2034
Estimated Market Value (USD) in 2024	$6.17 Billion
Forecasted Market Value (USD) by 2034	$20.81 Billion
Compound Annual Growth Rate	12.9%
Regions Covered	Global

The companies featured in this AI Model Risk Management market report include:

• International Business Machines Corporation
• Microsoft Corp.
• Google LLC
• SAS Institute
• FICO Corp.
• Databricks Inc.
• MathWorks Inc.
• DataRobot Inc.
• Accenture plc
• Inc.
• Baidu AI Cloud
• Alibaba Cloud
• Tencent AI Lab
• Sony AI
• NEC Corporation
• Naver AI
• Kakao Brain
• LG AI Research
• Samsung AI
• Upstage
• DT42
• Appier
• AIDA Technologies
• Quantium
• Tiger Analytics
• Fractal Analytics
• Ensign InfoSecurity
• Quantmetry
• Sia Partners
• Ekimetrics
• PwC
• BBVA AI Factory
• Indra
• Faculty AI
• Darktrace
• Holistic AI
• Quantexa
• Ernst & Young (EY)
• UiPath
• Fiddler AI
• Arthur AI
• TruEra
• ModelOp
• Itau Unibanco
• Banco Bradesco
• Grupo Intercorp (via Interbank)
• Group 42 Holding Ltd, (G42)
• ThetaRay
• Oracle Corporation
• Informatica Inc.

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• AI Model Risk Management Market

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