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Leading Growth Driver in the AI Governance Market in 2025: Government Initiatives Driving Growth In AI Governance Market Driver's Influence
AI Governance Market Size
The artificial intelligence (AI) governance market is forecasted to grow thanks to a rise in government efforts to capitalize on AI technology. Government initiatives, crucial actions or statements aimed at addressing specific problems or challenges, play a significant role in shaping the governance of AI. They provide the necessary framework and guidelines for the safe and beneficial application of AI technologies, balancing advantages with the mitigation of risks and possible harms. As an example, the second phase of the Pan-Canadian Artificial Intelligence program was launched by the Canada-based Ministry of Innovation, Science, and Industry, in June 2023. Supported by an investment exceeding US$ 443 million, it highlighted the government's devotion to promoting the integration and commercial application of AI across diverse sectors of the nation's economy. Consequently, the artificial intelligence (AI) governance market is experiencing growth driven by the escalation in initiatives from governments to capitalize on AI technology.
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How will the growth rate of the ai governance market shape industry trends by 2034?
The market for AI governance has seen significant expansion in the past few years. Its size is projected to increase from $0.29 billion in 2024 to $0.42 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 45.5%. Factors contributing to this growth during the historical period include a heightened demand for transparency and integrity in AI systems, better accessibility to historical datasets, easy data storage, and a surge in interest related to ethical hacking and penetration testing.
Over the coming years, the AI governance market is anticipated to experience a significant surge in growth. It is projected to expand to $1.85 billion by 2029, with a compound annual growth rate (CAGR) of 44.6%. The anticipated growth during this forecast period is largely due to the rise in government-led initiatives to capitalize on AI technology, as well as the growing use of AI in the retail industry. Upcoming notable trends within this timeframe encompass advances in artificial intelligence, platforms for the management of enterprise AI lifecycle, the creation of ethical AI platforms, product innovation, and solutions for hybrid cloud management.
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What trends are poised to drive the future success of the ai governance market?
Leading corporations in the AI governance market are creating cutting-edge solutions like AI governance toolkits to offer their customers dependable services. An AI governance toolkit is a comprehensive set of resources and strategies meant to assist organizations in safely creating, implementing, and operating AI systems. For example, in November 2023, The International Business Machines Corporation, a technology firm based in the US, unveiled watsonx.governance. This AI governance toolkit is specifically crafted to assist businesses and governments in handling the risks and intricacies linked with generative AI, focusing on large language models (LLMs). It is engineered to detect and alleviate risks promptly and monitor for fairness, bias, drift, and novel LLM metrics. This platform is a component of the IBM Watsonx AI and data platform, which encompasses Watsonx.data, watsonx.ai, and watsonx.governance, all aimed at boosting and speeding up the impact of AI across a range of businesses.
Which primary segments of the ai governance market are driving growth and industry transformations?
The AI governance market covered in this report is segmented -
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
Subsegments:
1) By Solution: Compliance Management Tools, Risk Assessment And Management Software, Policy Management Solutions, Audit And Monitoring Systems
2) By Services: Consulting Services, Training And Education Programs, Implementation And Integration Services, Ongoing Support And Maintenance Services
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Which geographical regions are pioneering growth in the ai governance market?
North America was the largest region in the AI governance market in 2024. The regions covered in the AI governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the ai governance market landscape?
Major companies operating in the AI governance market report are Amazon.com 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., AVEVA Group plc, TIBCO Software Inc., Hexaware Technologies Limited, QlikTech International AB, Altair Engineering Inc., Scale AI Inc., Arthur, MOSTLY AI, Protopia AI, Impact AI, H2O.ai, Credo.AI Corp.
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What Is Covered In The AI Governance Global Market Report?
• Market Size Forecast: Examine the ai governance market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai governance market for a structured understanding.
• Key Players Overview: Analyze major players in the ai governance market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai governance market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai governance market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai governance market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai governance market.
• Competitive Landscape: Review strategic developments in the ai governance market, including expansions, agreements, and new product launches.
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