Explainable AI Industry Growth | Market Share, Trends & Forecast - 2024-2031 | Major Companies likes - Kyndi, Alphabet, Inc., IBM Corporation, Microsoft Corporation, Amelia US LLC, BuildGroup, DataRobot, Inc., Ditto AI Ltd

Global Explainable AI Market reached US$ 5.2 Billion in 2023 and is expected to reach US$ 22.1 Billion by 2031, growing with a CAGR of 20.2% during the forecast period 2024-2031.

Explainable AI Market report, published by DataM Intelligence, delivers detailed insights and analysis on major market trends, growth prospects, and emerging challenges. With a strong focus on providing actionable intelligence, DataM Intelligence enables businesses to make well-informed decisions and maintain a competitive edge. By blending both qualitative and quantitative research approaches, the company offers thorough reports that support clients in navigating complex market environments, driving strategic expansion, and capitalizing on new opportunities in today's rapidly evolving global landscape.

Explainable AI (XAI) refers to artificial intelligence systems designed to make their decision-making processes transparent, understandable, and interpretable to humans. By providing insights into how and why a model arrives at specific outcomes, XAI enhances trust, accountability, and regulatory compliance-especially in critical sectors like healthcare, finance, and autonomous systems.

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Market opportunities and Growth Drivers

➤ Increasing Adoption of Explainable AI (XAI) for Risk Management
➤ Accelerating Growth of Industry 4.0
➤ Rising Complexity of AI Models

Explainable AI Market Recent Development:

On July 5, 2023, Fujitsu partnered with Informa D&B to introduce explainable AI in the financial-commercial information sector, enhancing transparency in decision-making.

On September 6, 2023, Temenos launched a Generative AI solution to help banks classify transactions, enabling personalized insights and improved digital banking experiences.

On December 30, 2022, Digité, Inc. unveiled RISHI-XAI, the world's first explainable AI product for Enterprise Project Intelligence.

List of the Key Players in the Explainable AI Market:

Kyndi, Alphabet, Inc., IBM Corporation, Microsoft Corporation, Amelia US LLC, BuildGroup, DataRobot, Inc., Ditto AI Ltd, DarwinAI and Factmata.

Research Process:

Both primary and secondary data sources have been used in the global Explainable AI Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Explainable AI Market:

By Offering: Solution, Services

By Deployment: Cloud, On-premises

By Organization Size: Small and Medium-sized Enterprises, Large Enterprises

By Technology: Machine Learning (ML), Natural Language Processing (NLP), Computer Vision, Big Data Analytics, Others

By Application: Fraud and Anomaly Detection, Drug Discovery and Diagnostics, Predictive Maintenance, Supply Chain Management, Identity and Access Management, Others

By End-User: Healthcare, BFSI, Aerospace and Defense, Retail and E-commerce, Public Sector and Utilities, IT and Telecommunication, Automotive, Others

Regional Analysis for Explainable AI Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

People Also Ask:

Most Frequently Asked Questions in the Explainable AI Market Research Industry:

➠ What are the global figures for sales, production, consumption, imports, and exports in the Explainable AI market?

➠ Who are the top manufacturers in the global Explainable AI industry, and what is their current status in terms of production capacity, output, sales performance, pricing structure, cost analysis, profit margins, and overall revenue?

➠ What key opportunities are available for vendors in the Explainable AI market, and what challenges are they likely to encounter?

➠ Which application areas, end-user segments, or product types are projected to experience significant growth, and how is the market share distributed among them?

➠ What are the major drivers and barriers influencing the growth trajectory of the Explainable AI market?

➠ What are the primary sales, marketing, and distribution strategies used across the global Explainable AI industry landscape?

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