AI Governance Market to reach $1.32 Bn by 2027: COVID Impact, Business Opportunities, Trends and Forecast

Evolve business intelligence, today has published a new market research report on “The global AI governance market size was valued at $46.6 Million in 2020 and is expected to reach $1.32 Billion by 2028 growing at the CAGR of 50.43% from 2021 to 2028. Various initiatives taken by the government to adopt AI is expected to be the key factor contributing to the AI Governance market growth.

For more information on the report: https://evolvebi.com/product/ai-governance-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the AI governance market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the AI governance market report also includes the following data points:
• COVID19 Impact on AI governance market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in AI governance market

Analyst View
According to Swapnil, Principal Analyst, Evolve Business Intelligence, “the recent COVID scenario is expected to provide a small push towards adoption of AI technology in governance. This is attributed to the lockdown instigating adoption of technology in the government sector.”

Competitive Scenario
Some of the major AI governance market players holding high market share include Alphabet Inc., Microsoft Corporation, IBM Corporation, and Amazon Web Services, Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
The AI Governance market is analyzed across the below-mentioned different segments:
• Component
o Solution
o Services
• By Deployment Mode
o Cloud
o On-premises
• Organization Size
o Large enterprises
o Small and medium-sized enterprises
• Vertical
o BFSI
o Government and Defence
o Healthcare and Information & Communication Technology
o Other Verticals

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the AI governance market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:
• Alphabet Inc.
• Microsoft Corporation
• IBM Corporation
• Amazon Web Services, Inc
• QlikTech International AB
• TIBCO Software Inc.
• SAS Institute Inc.
• Facebook, Inc
• Pymetrics Inc.
• Ataccama Corporation

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/ai-governance-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives
• To define, describe, and forecast the AI governance market, in terms of value, segmented on the basis of indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the AI governance market
• To provide an overview of the value chain analysis pertaining to the AI governance market industry
• To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall AI governance market
• To analyze opportunities in the market by identifying high-growth segments of the AI governance market
• To profile key players in the AI governance market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global AI governance market

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This release was published on openPR.