Dublin, November 1, 2024 (GLOBE NEWSWIRE) — The “AI Model Risk Management Market by Application, Industry Vertical, Deployment Mode, Organization Size – Global Forecast 2025-2030” the report has been added to ResearchAndMarkets.com offer.
The global AI model risk management market grew from $6.66 billion in 2023 to $7.51 billion in 2024. It is expected to continue growing at a CAGR of 13.28%, reaching $15.95 billion by 2030.
This report provides a detailed overview of the AI Model Risk Management market, exploring several key areas:
- An in-depth review of the current market landscape, presenting comprehensive data from key industry players and analyzing their market reach and influence.
- The report identifies significant growth opportunities in emerging markets and assesses the potential for expansion within established segments, providing a roadmap for future development.
- In-depth coverage of recent product launches, untapped geographies, significant industrial developments and strategic investments reshaping the market landscape.
- A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements and manufacturing innovations by key players of the market.
- An overview of the revolutionary technologies, R&D efforts and product innovations that will drive the market in the future.
Key growth factors include increasing adoption of AI technologies, regulatory pressures, and increased focus on ethical AI, which are collectively driving the demand for advanced risk management solutions. Implementing robust AI governance frameworks is becoming a priority, providing fertile ground for companies to innovate and offer specialized consulting services or tools. The rise of explainable AI methods and technologies represents a significant opportunity for companies to differentiate their offerings and demystify AI processes for end users.
The market challenges are formidable, including the rapid evolution of AI technologies, the complexity of accurately assessing risks, and the shortage of qualified professionals capable of meeting these challenges. Additionally, ongoing ethical debates around AI could lead to fluctuating regulatory environments, thereby adding uncertainty to the market.
Potential areas for innovation and research include developing more sophisticated risk assessment algorithms, improving model interpretability, and creating automated compliance monitoring tools. Companies aiming for growth should focus on building comprehensive AI auditing systems and invest in training programs to fill the talent gap. The AI model risk management market is inherently solution-driven and competitive, with a diverse ecosystem of stakeholders. Understanding the complex balance between innovation and regulation will be crucial to enabling companies to take advantage of upcoming opportunities while navigating the complexities of the sector.
Market Dynamics in AI Model Risk Management Market
- Market factors
- Increased Regulatory Oversight and Compliance Requirements for AI Model Risk Management Systems
- Growing adoption of artificial intelligence in various industries requiring robust risk management tools
- The growing number of AI-enabled financial services amplifies the need for strict risk management practices
- Proliferation of AI applications in high-stakes industries requiring sophisticated risk assessment and mitigation solutions
- Market restrictions
- Strict regulatory requirements leading to delays and high compliance costs impacting the adoption of risk management of AI models
- Limited availability of qualified professionals, leading to difficulties in implementing and maintaining AI model risk management solutions
- Market Opportunities
- Healthcare Industry Leverages AI to Improve Risk Management and Patient Compliance
- Retail Industry Uses AI for Fraud Detection and Supply Chain Risk Management Solutions
- Telecommunications using AI to improve network security and operational risk management strategies
- Market Challenges
- Implement robust validation and testing frameworks for AI models used in risk management
- Addressing Data Privacy and Security Concerns in AI-Driven Risk Management Solutions
Some of the topics covered in the report include:
- Exploring Porter’s Five Forces for AI Model Risk Management Market
- Application of PESTLE Analysis to AI Model Risk Management Market
- Market Share Analysis in AI Model Risk Management Market
- Evaluating Vendor Success with FPNV Positioning Matrix in AI Model Risk Management Market
- Strategic Recommendations for Success in the AI Model Risk Management Market
Key company profiles
The report examines recent significant developments in the AI model risk management market, highlighting key vendors and their innovative profiles. These include:
- Accenture
- Alteryx
- Amazon
- Data Bot
- Deloitte
- Ernst & Young
- Fair Isaac Company
- H2O.ai
- IBM
- KPMG
- Microsoft
- Moody’s Analytics
- Oracle
- Palantir Technologies
- PWC
- RapidMiner
- SAP
- SAS
- Teradata
Market segmentation and coverage
This research report categorizes the AI Models Risk Management market to forecast revenue and analyze trends in each of the following submarkets:
- Application
- Model documentation
- Governance model
- Model Monitoring
- Model validation
- Vertical industry
- Financial Services
- Health care
- Insurance
- Telecommunications
- Deployment mode
- Organization size
- Large companies
- Small and medium-sized enterprises (SMEs)
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- UNITED STATES
- California
- Florida
- Illinois
- new York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East and Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- The Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Suede
- Swiss
- Türkiye
- United Arab Emirates
- United Kingdom
- Americas
Additionally, the report addresses key questions to help stakeholders make informed decisions:
- What is the current market size and how is it expected to grow?
- Which products, segments and regions present the most attractive investment opportunities?
- What are the dominant technology trends and regulatory factors influencing the market?
- How do the top vendors rank in terms of market share and competitive positioning?
- What revenue sources and strategic opportunities drive supplier market entry or exit decisions?
Key attributes
| Report attribute | Details |
| Number of pages | 197 |
| Forecast period | 2024-2030 |
| Estimated market value (USD) in 2024 | $7.51 billion |
| Projected market value (USD) by 2030 | $15.95 billion |
| Compound annual growth rate | 13.2% |
| Regions covered | Global |
For more information on this report, visit https://www.researchandmarkets.com/r/3penyx
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