Explainable AI Trends and Forecast
The future of the global explainable AI market looks promising with opportunities in the BFSI, retail & ecommerce, IT/ITes, healthcare & life sciences, government & public sector, and media & entertainment markets. The global explainable AI market is expected to reach an estimated $24.7 billion by 2030 with a CAGR of 21.0% from 2024 to 2030. The major drivers for this market are emergence of industry 4.0 and rising adoption of deep learning and neural networks in various domains.Explainable AI by Segment
The study includes a forecast for the global explainable AI by software type, offering, method, end use, and region.Explainable AI Market by Software Type [Shipment Analysis by Value from 2018 to 2030]:
- Standalone Software
- Integrated Software
- Automated Reporting Tools
- Interactive Model Visualization
Explainable AI Market by Offering [Shipment Analysis by Value from 2018 to 2030]:
- Solutions
- Services
Explainable AI Market by Method [Shipment Analysis by Value from 2018 to 2030]:
- Model-Agnostic Methods
- Model-Specific Methods
Explainable AI Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
- BFSI
- Retail & Ecommerce
- IT/ITeS
- Healthcare & Life Sciences
- Government & Public Sector
- Media & Entertainment
- Others
Explainable AI Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Explainable AI Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies explainable AI companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the explainable AI companies profiled in this report include:- Microsoft
- IBM
- Salesforce
- Intel Corporation
- NVIDIA
- SAS Institute
Explainable AI Market Insights
The report forecasts that standalone software will remain the largest segment over the forecast period.Within this market, BFSI is expected to witness the highest growth over the forecast period.
North America will remain the largest region over the forecast period.
Features of the Global Explainable AI Market
- Market Size Estimates: Explainable AI market size estimation in terms of value ($B).- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Explainable AI market size by various segments, such as by software type, offering, method, end use, and region in terms of value ($B).
- Regional Analysis: Explainable AI market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different software types, offerings, methods, end uses, and regions for the explainable AI market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the explainable AI market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the explainable AI market size?Answer: The global explainable AI market is expected to reach an estimated $24.7 billion by 2030.
Q2. What is the growth forecast for explainable AI market?
Answer: The global explainable AI market is expected to grow with a CAGR of 21.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the explainable AI market?
Answer: The major drivers for this market are emergence of industry 4.0 and embracing deep learning and neural networks in various domains.
Q4. What are the major segments for explainable AI market?
Answer: The future of the explainable AI market looks promising with opportunities in the BFSI, retail & ecommerce, IT/ITes, healthcare & life sciences, government & public sector, and media & entertainment markets.
Q5. Who are the key explainable AI market companies?
Answer: Some of the key explainable AI companies are as follows:
- Microsoft
- IBM
- Salesforce
- Intel Corporation
- NVIDIA
- SAS Institute
Answer: The report forecasts that standalone software will remain the largest segment over the forecast period.
Q7. In explainable AI market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisherl provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the explainable AI market by software type (standalone software, integrated software, automated reporting tools, and interactive model visualization), offering (solutions and services), method (model-agnostic methods and model-specific methods), end use (BFSI, retail & ecommerce, IT/ITes, healthcare & life sciences, government & public sector, media & entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Explainable AI Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Microsoft
- IBM
- Salesforce
- Intel Corporation
- NVIDIA
- SAS Institute
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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