AI governance Market Report Scope & Overview:

The AI governance Market Size was valued at USD 167.5 Million in 2023 and is expected to reach USD 1926.2 Million by 2031 and grow at a CAGR of 35.7 % over the forecast period 2024-2031.

Several factors are expected to drive the adoption of AI governance solutions and services. These include an increase in government initiatives to leverage AI technology, a growing need to build trust in AI systems, a rising demand for transparency in AI decisions, and an increase in regulatory compliance surrounding the technology.

AI governance Market Revenue Analysis

Get more information on AI Governance Market - Request Sample Report

AI governance seeks to bridge the accountability-ethics gap that has emerged in technological innovations. As artificial intelligence becomes more widely used in fields such as transportation, economics, healthcare, business, education, and public safety, the necessity of AI governance grows.

Market Dynamics


  • The rise in government initiatives to harness AI technology is becoming increasingly prevalent.

  • The growing need to develop confidence in AI systems, as well as the growing desire for openness in AI choices.

  • The Efficient and Rapid Access to Historical Data Sets Drives Market Expansion.

As the benefits of AI continue to grow, organizations and governments worldwide are actively looking for ways to incorporate AI and ML technologies into their operations to establish themselves as leaders in the global market. The implementation of AI governance solutions by government organizations in numerous countries has been facilitated by various initiatives. These efforts encompass the establishment of councils, the creation of new standards and guidelines, and the development of frameworks. The primary goal of governments in adopting AI governance solutions is to safeguard privacy and civil liberties, as well as to instill trust and confidence in AI technology among the general population. To achieve this, many companies have established committees to identify potential risk factors associated with AI technology. These committees often collaborate with AI solution providers, universities, and research labs to ensure comprehensive risk assessment and mitigation strategies are in place.


  • The Lack of expertise and skills in artificial intelligence will hinder market growth.

  • The Establishment of broad ethical norms for AI.


  • AI-assisted reduction of gender prejudice and discrimination.


  • The Inadequate AI knowledge and skills.

  • The Clean and relevant data is essential to train machine learning algorithms.

Impact of Russia-Ukraine War:

The ongoing crisis between Russia and Ukraine is poised to exert a complex influence on the AI Governance Market. Increased Emphasis on AI in National Security, The conflict underscores the critical role of AI in cyber warfare, disinformation campaigns, and the development of autonomous weapons. Governments might allocate more resources towards AI governance solutions to counter these threats and ensure responsible utilization of military AI. Global supply chains could face disruptions due to the conflict, potentially impacting the availability of essential resources for AI development, such as semiconductors. Investor confidence may waver, leading to a potential slowdown in overall AI investment, including in AI governance initiatives.  AI technologies can be instrumental in tasks like analyzing satellite imagery for damage assessment, aiding refugees, and bolstering cyber defenses. Uncertainty stemming from the crisis could impede international collaboration on establishing AI governance standards. Nations may prioritize the development of their own AI governance frameworks, potentially diverging from global consensus.

Impact of Economic Downturn:

In times of economic strain, companies may tighten their purse strings, resulting in decreased expenditure on new AI initiatives. This could lead to diminished demand for AI governance solutions. Economic uncertainty tends to breed caution among investors, potentially diminishing funding for AI startups, including those specializing in AI governance.

With economic conditions deteriorating, companies may place a higher premium on risk mitigation. This could drive up the need for AI governance solutions aimed at curtailing risks associated with AI deployment. During economic slowdowns, businesses often seek avenues to enhance operational efficiency. AI governance solutions that aid in optimizing AI systems and ensuring responsible usage could garner increased interest. Governments may seize the economic slowdown as an impetus to enact more stringent AI regulations. This would necessitate investments in AI governance solutions to ensure compliance. impact of the economic slowdown on the AI Governance Market hinges on the severity of the downturn.

Market Segmentation

By Component

  • Solution

    • Software Tools

    • Platform

  • Services

    • Consulting

    • Integration

    • Support and Maintenance

By Deployment

  • Cloud

  • On-premises

By Organization Size

  • Large enterprises

  • Small and medium-sized enterprises

The Large enterprises are expected to lead the market with the holding share of More than 71%. Large enterprises are dominating due to their early adoption of technologies, particularly Artificial Intelligence (AI), and the necessity for its regulation. small & medium enterprises are forecasted to see a moderate growth rate in AI governance adoption. This growth is driven by the rising number of SMEs in developing regions like Asia Pacific, the Middle East & Africa, and South America, where AI technologies are becoming more prevalent.

By Vertical

  • BFSI

  • Government and Defense

  • Healthcare and Life Sciences

  • Media and Entertainment

  • Retail

  • IT and Telecom

  • Automotive

  • Others

The Government and Défense sector dominate the market with Holding a significant share of More than 18%. A various of trends are driving the expansion of AI across various industries, particularly in healthcare and life sciences, where ensuring ethical and transparent use of AI is paramount. The utilization of AI in healthcare and life sciences introduces challenges related to privacy and data security, given the sensitive nature of patient information. Consequently, there is a growing emphasis on compliance with data privacy regulations and safeguarding against potential cyber threats within these sectors. Healthcare professionals are increasingly turning to AI to enhance diagnostic and therapeutic processes yet concerns regarding bias and accuracy persist. Therefore, it is imperative to rigorously validate and train AI systems before their deployment in clinical settings.

AI Governance Market Segmentation Analysis

Need any customization research on AI Governance Market - Enquire Now

Regional Analysis

North America dominates the artificial intelligence (AI) governance market with a holding share of more than 29%, due to increase in partnerships, well-established economies, and the presence of large IT businesses in this area. The growing utilization of artificial intelligence (AI) by both commercial and governmental entities has emerged as a key factor driving the market expansion. American lawmakers and government bodies have been formulating plans and regulations for AI and automated systems to mitigate potential negative impacts of AI technology while fostering healthy competition and innovation. The US government is also proactively implementing AI Governance initiatives. The government announced the adoption of AI ethical guidelines in accordance with the Department of Defense AI strategic goal, supporting the ethical and lawful use of AI systems by the US military and allied companies. Due to the use of artificial intelligence (AI) driven services, Europe will have the greatest CAGR during this time.


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


The major key players are Alphabet Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., QlikTech International AB, TIBCO Software Inc., SAS Institute Inc., Facebook, Inc., SAP SE,, Inc. & Other Players

SAS Institute Inc - Company Financial Analysis

Company Landscape Analysis

Recent Development:

  • In December 2023, Meta and IBM joined forces to launch the AI Alliance, a groundbreaking initiative that brought together over 50 founding members and employees from across the globe. This collaboration aimed to promote open innovation in AI, ensuring that advancements in technology are made responsibly and for the benefit of all. The AI Alliance is comprised of a diverse range of organizations dedicated to AI education, research, development, deployment, and governance.

  • In December 2023, D2L made headlines with the announcement of a new free course titled "Introduction to AI Ethics and Governance." Developed in partnership with AI experts at INQ Consulting, this course is designed to help companies navigate the complex landscape of AI governance and ethics, providing them with the knowledge and tools needed to ensure responsible AI practices.

  • In May 2023, OpenAI, the creators of ChatGPT, announced grants totaling USD 100,000 for experiments focused on democratic processes. These experiments aim to explore how AI software governance can effectively address bias and other relevant factors, furthering the development of responsible and ethical AI practices.

AI Governance Market Report Scope:
Report Attributes Details
Market Size in 2023  USD 167.5 Million
Market Size by 2031  USD 1926.2 Million
CAGR  CAGR 35.7% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
 Historical Data  2020-2022
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Component (Solution And Services)
• By Deployment Mode (Cloud And On-Premises)
• By Organization Size (Large Enterprises, And Small And Medium-Sized Enterprises)
• By Vertical (BFSI, Government And Defense, Healthcare And Life Sciences, Media And Entertainment, Retail, IT And Telecom, Automotive, And Other Verticals)
 Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
 Company Profiles Alphabet Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., QlikTech International AB, TIBCO Software Inc., SAS Institute Inc., Facebook, Inc., SAP SE,, Inc.
 Key Drivers • The growing need to develop confidence in AI systems, as well as the growing desire for openness in AI choices.
• Increase in regulatory compliances related to technology.
 Market Restraints • Establishment of broad ethical norms for AI.

Frequently Asked Questions

Ans: - The estimated market size for the AI Governance market for the year 2030 is USD 1926.2 Million.

Ans: - Inadequate AI knowledge and skills and clean and relevant data is essential to train machine learning algorithms.

Ans: - North America dominates the artificial intelligence (AI) governance market and will maintain its dominance during the projected period.

Ans: - The major key players are Alphabet Inc., Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., QlikTech International AB, TIBCO Software Inc., SAS Institute Inc., Facebook, Inc., SAP SE,, Inc.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.9 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. AI governance Market, By Component

9.1 Introduction

9.2 Trend Analysis

9.3 Solution

9.3.1 Software Tools

9.3.2 Platform

9.4 Services

9.4.1 Consulting

9.4.2 Integration

9.4.3 Support and Maintenance

10. AI governance Market, By Deployment

10.1 Introduction

10.2 Trend Analysis

10.3 Cloud

10.4 On-premises

11. AI governance Market, By Organization size

11.1 Introduction

11.2 Trend Analysis

11.3 Large enterprises

11.4 Small and medium-sized enterprises

12. AI governance Market, By Vertical

12.1 Introduction

12.2 Trend Analysis

12.3 BFSI

12.4 Government and Defense

12.5 Healthcare and Life Sciences

12.6 Media and Entertainment

12.7 Retail

12.8 IT and Telecom

12.9 Automotive

12.10 Others

13. Regional Analysis

13.1 Introduction

14.2 North America

14.2.1 USA

14.2.2 Canada

14.2.3 Mexico

14.3 Europe

14.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

14.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

14.4 Asia-Pacific

14.4.1 China

14.4.2 India

14.4.3 Japan

14.4.4 South Korea

14.4.5 Vietnam

14.4.6 Singapore

14.4.7 Australia

14.4.8 Rest of Asia Pacific

14.5 The Middle East & Africa

14.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

14.5.2 Africa Nigeria South Africa Rest of Africa

14.6 Latin America

14.6.1 Brazil

14.6.2 Argentina

14.6.3 Colombia

14.6.4 Rest of Latin America

15. Company Profiles

15.1 Alphabet Inc.

15.1.1 Company Overview

15.1.2 Financials

15.1.3 Products/ Services Offered

15.1.4 SWOT Analysis

15.1.5 The SNS View

15.2 Microsoft Corporation

15.2.1 Company Overview

15.2.2 Financials

15.2.3 Products/ Services Offered

15.2.4 SWOT Analysis

15.2.5 The SNS View

15.3 IBM Corporation

15.3.1 Company Overview

15.3.2 Financials

15.3.3 Products/ Services Offered

15.3.4 SWOT Analysis

15.3.5 The SNS View

15.4 Amazon Web Services, Inc.

15.4 Company Overview

15.4.2 Financials

15.4.3 Products/ Services Offered

15.4.4 SWOT Analysis

15.4.5 The SNS View

15.5 QlikTech International AB

15.5.1 Company Overview

15.5.2 Financials

15.5.3 Products/ Services Offered

15.5.4 SWOT Analysis

15.5.5 The SNS View

15.6 TIBCO Software Inc.

15.6.1 Company Overview

15.6.2 Financials

15.6.3 Products/ Services Offered

15.6.4 SWOT Analysis

15.6.5 The SNS View

15.7 SAS Institute Inc.

15.7.1 Company Overview

15.7.2 Financials

15.7.3 Products/ Services Offered

15.7.4 SWOT Analysis

15.7.5 The SNS View

15.8 Facebook, Inc.

15.8.1 Company Overview

15.8.2 Financials

15.8.3 Products/ Services Offered

15.8.4 SWOT Analysis

15.8.5 The SNS View

15.9 SAP SE

15.9.1 Company Overview

15.9.2 Financials

15.9.3 Products/ Services Offered

15.9.4 SWOT Analysis

15.9.5 The SNS View

15.10, Inc.

15.10.1 Company Overview

15.10.2 Financials

15.10.3 Products/ Services Offered

15.10.4 SWOT Analysis

15.10.5 The SNS View

16. Competitive Landscape

16.1 Competitive Benchmarking

16.2 Market Share Analysis

16.3 Recent Developments

16.3.1 Industry News

16.3.2 Company News

16.3.3 Mergers & Acquisitions

17. USE Cases and Best Practices

18. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

  •            5000 (33% Discount)

  •            8950 (40% Discount)

  •            3050 (23% Discount)

Start a Conversation

Hi! Click one of our member below to chat on Phone