Fintech PR
AI Governance Market worth $5,776.0 million by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The AI Governance Market is anticipated to grow from USD 890.6 million in 2024 to USD 5,776.0 million by the year 2029 at a robust CAGR of 45.3% over the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “AI Governance Market”
350 – Tables
50 – Figures
450 – Pages
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2019–2029 |
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Base year considered  |
2023 |
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Forecast period |
2024–2029 |
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Forecast units |
USD (Million) |
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Segments covered |
Product Type, Functionality, End User, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
Microsoft (US), IBM (US), Google (US), Salesforce (US), SAP (Germany), AWS (US), SAS Institute (US), FICO (US), Accenture (Ireland), Qlik (US), H2O.AI (US), Alteryx (US), DataRobot (UK), Dataiku (US), Domino Data Lab (US), SparkCognition (US), Collibra (US), OneTrust (US), Quest Software (US), Fiddler AI (US), Untangle AI (Singapore), 2021.AI (Denmark), Howso (US), Monitaur (US), Mind Foundry (UK), Credo AI (US), Holistic AI (UK), Fairly AI (Canada), Enzai (UK), ValidMind (US), FairNow (US), Mona Labs (US), Arthur AI (US), Trustible (US), Atlan (Singapore), ModelOp (US), Neptune AI (Poland), Patronus AI (US), and Datatron (US). |
Regulatory pressure and demands for compliance are driving the AI Governance Market as governments around the world roll out tougher regulations related to AI. For example, the European Union’s AI Act had subjected risk assessments and compliance audits to AI systems, particularly in high-risk sectors like health and finance, thereby increasing demand for the governance framework. Organizations also run the risk of facing reputational damages linked with prejudiced or harmful AI output. A notable example is the controversy caused by OpenAI GPT models, which flagged misinformation and biased data concerns, making businesses adopt robust AI guard rails. On similar note, Amazon’s discontinuation of its biased AI recruiting tool demonstrate the reputational and financial risks of ungoverned AI. Another major reason for market expansion is the uptick in AI adoption across highly regulated industries, especially BFSI and healthcare. Industries operating in these sectors are under immense regulatory pressure to comply with dynamic regulations, leading to increased affinity towards AI governance tools.
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By product type, data governance tools will account for largest market share in 2024 owing to robust data provenance and lineage capabilities.
Data governance tools are poised to account for the largest market share in the AI Governance Market, as these tools help an organization track data quality, provenance, and bias within AI development training data. This is important in order to prevent bias results being generated from AI systems. For example, data governance tools may apply profiling techniques to the dataset in order to ensure fairness, and also put in place data lineage to indicate potential problems with data sourcing. As an increasing number of AI regulations call for documentation, tracking and record keeping especially on the data that feeds AI systems, data governance has become paramount. Data governance also assists enterprises in compliance with regulations through robust AI data traceability and accuracy. Additionally, the metadata repository feature in data governance tools offer centralized catalogs and controls of metadata for data visibility across an organization to ensure trustworthy and responsible AI implementation.
The demand for ethical AI use across ML platforms and generative AI models will push software & technology providers as the fastest growing end user segment during the forecast period
Software & technology providers are poised to become the fastest growing end user segment in the AI Governance Market, buoyed by rapid adoption of AI governance tools to make their AI systems trustworthy and ethical. The rising regulatory scrutiny and the expanding reach of data privacy laws like GDPR and CCPA has also accelerated governance frameworks being adopted across such players. For instance, Microsoft has created an internal AI ethics working group to implement strong ethical guardrails across its AI offerings. On a similar note, Google has formed AI governance framework for developing fair, explainable, and ethical AI solutions. There are also expectations from stakeholders who demand that technology companies create AI responsibly. With AI regulations likely to disrupt every software vendor, incorporating ethical norms and regulation is now of extraordinary importance for technology businesses to maintain the brand’s trust and growth.
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North America is set to hold the largest market share in 2024, fueled by a strong regulatory environment and increasing investments in responsible AI deployment
North America has emerged as the largest regional market for AI government adoption. Federal funding on AI governance in North America crossed USD 1 billion in 2023, indicating a growing interest in responsible AI research. Industries with strict regulations such as healthcare and banking are leading in the implementation of governance, with 45% of healthcare providers mentioning regulatory compliance as a key business requirement. Businesses are forced to implement governance frameworks due to rising regulatory requirements like NIST’s AI Risk Management Framework and the California Consumer Privacy Act (CCPA). More than half of businesses expect more stringent AI rules in the next five years, with 62% citing data privacy compliance as a main factor for implementing governance. Also important is consumer confidence, as 78% of American consumers favor brands that utilize ethical AI. Businesses such as Google and Microsoft are implementing governance to guarantee transparency and establish trust. Additionally, organizations are prioritizing fairness in their AI systems and have turned to tools like IBM’s AI Fairness 360 to address the need to mitigate AI bias, with 56% of businesses doing so. Moreover, financial institutions are particularly focused on risk management, giving priority to governance for addressing AI-related risks.
Top Key Companies in AI Governance Market:
The major players in the AI Governance Market include Microsoft (US), IBM (US), SAS Institute (US), DataRobot (UK), and Dataiku (US), along with SMEs and startups such as Fiddler AI (US), 2021.AI (Denmark), Monitaur (US), Credo AI (US), and Fairly AI (Canada).
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About MarketsandMarkets™
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DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — StockGro, India’s leading platform for experiential financial education, has joined hands with the Global Indian International School (GIIS) Dubai to equip students in grades 9 to 12 with essential financial skills. This partnership marks StockGro’s second major collaboration in the UAE, reinforcing its expansion into the GCC region.
As GIIS’s financial literacy partner, StockGro has integrated its innovative curriculum into the school’s academic framework. Through expert-led sessions conducted every alternate month, students gain insights into financial concepts, stock market basics, and strategic investment approaches, fostering critical thinking and real-world application.
A standout feature of the partnership is the stock market learning programs which consist of model portfolio exercises for grades 9 to 12. These stock market portfolio management activities allow students to apply their knowledge in a risk-free, real-world environment, building confidence and practical understanding of trading and investments.
Ajay Lakhotia, Founder & CEO of StockGro, said, “This collaboration bridges the gap between theoretical learning and practical application, preparing students to make informed financial decisions. It reflects StockGro’s dedication to empowering the next generation with tools to navigate real-world financial challenges.”
Ms. Rajani Manikonda , Supervisor of Senior Secondary School, GIIS Dubai, remarked, “Empowering students with financial literacy is essential in today’s interconnected world. This partnership with StockGro introduces our learners to the intricacies of financial management in an engaging, practical manner, ensuring they develop the critical thinking and problem-solving skills needed to thrive in the global economy.”
By partnering with one of Dubai’s top Indian international schools, StockGro strengthens its foundation for future collaborations in the UAE and GCC region, advancing its mission to revolutionize financial education on a global scale.
About StockGro
StockGro is a leading experiential social learning platform for trading and investments, trusted by more than 35 million users worldwide. It has successfully empowered students across 1100+ prestigious educational institutions with immersive financial learning experiences. Through this collaboration, StockGro continues its mission of fostering financial literacy and practical education for the next generation.
StockGro invites educational institutions across the GCC region to join hands in fostering a financially literate world. Write to us at [email protected] so we can empower the next generation with essential life skills together.
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GUANGZHOU, China, Jan. 10, 2025 /PRNewswire/ — China’s ETF market demonstrated exceptional performance in 2024, with notable returns and substantial growth in assets under management. According to Wind, the average return of A-share ETFs (excl. ETFs launched in 2024) reached 11.36% for the year by December 31, and the total size of A-share ETF market reached USD 5.1 trillion, a net increase of USD 2.3 trillion from year-begin. Notably, CSI 300 ETF (Code: 510310), ChiNext ETF (Code: 159915), and Star 50 ETF (Code: 588080) managed by E Fund Management (“E Fund”), the largest mutual fund manager in China, ranked among the top ten in asset growth, underlining the company’s strong position in the industry.
A Two-Decade Journey of Growth
Since the launch of the first domestic ETF in December 2004, China’s ETF market has expanded significantly. This growth is not only marked by an increase in assets but also by an acceleration in ETF issuance. In 2024, 30 fund companies launched 156 new ETFs, with E Fund leading the market by introducing 14 new products – the most among all issuers.
Over the years, the ETF market has evolved from focusing primarily on broad-based indices to offering a diverse range of products across sectors, asset classes, and themes. These innovations have broadened investment opportunities, providing both institutional and retail investors with low-cost, transparent, and flexible tools to achieve their financial goals.
The Push for Low-Cost Investing
In 2024, Chinese fund companies accelerated the trend of reducing management fees, particularly for broad-based ETFs. Leading the charge is E Fund, which has long been a pioneer in promoting cost-efficient investing. As early as 2015, E Fund set a market precedent by lowering the management fee of its flagship CSI 300 ETF (Code: 510310) from 0.5% to 0.2%, and further reduced it to 0.15% in 2019.
E Fund’s leadership in low-fee strategy is further exemplified by its extensive product range, nearly 50 ETF products offering the lowest management fee of 0.15%, accounting for 60% of its ETF portfolio.
Shaping the Future of China’s ETF Market
With over 80 ETFs under management and total assets exceeding USD 83.7 billion, E Fund continues to innovate by offering a broad range of low-cost, high-efficiency investment solutions.
As China’s ETF market evolves and expands, E Fund remains at the forefront, driving innovation and setting new standards for accessibility and efficiency. The rapid growth in 2024 underscores not only the increasing popularity of ETFs but also their critical role in shaping the future of China’s investment landscape.
About E Fund
Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive mutual fund manager in China with over RMB 3.5 trillion (USD 505 billion) under management.* It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
Source: E Fund. AuM includes subsidiaries. Data as of Sep 30, 2024. FX rate is sourced from PBoC.
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Fintech PR
HTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry
SINGAPORE, Jan. 10, 2025 /PRNewswire/ — The year 2024 marks a significant chapter in the history of the crypto industry, where we witnessed continuous breakthroughs in blockchain technology, surges in Bitcoin price, and a gradually more open regulatory environment, with cryptocurrencies gaining increasing recognition from the mainstream. As 2025 unfolds, HTX, the world’s leading digital asset exchange, has released its latest report, HTX 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook, which provides forward-looking insights into the development prospects of the crypto industry.
Key Sectors for 2025
In the report, HTX highlighted five key sectors that showed encouraging progress last year, and will continue to closely monitor these areas in 2025.
Bitcoin Ecosystem
In 2024, Bitcoin’s market dominance kept increasing, solidifying its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.
As a result, it is increasingly essential to further develop Bitcoin’s ecosystem and enhance capital utilization efficiency. With strong support from macro markets and infrastructure support, a further surge in Bitcoin demand over the next two years is well-anticipated.
Infrastructure
Infrastructure remained a cornerstone in 2024’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2, and middleware projects, among others.
Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.
Meme Coins
The Meme coin sector emerged as a hotspot in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.
AI
In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields, the hottest one of which is AI agents. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities. Over time, they may develop unique cultures and religions.
This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.
TON Ecosystem
Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON ecosystem achieved significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto. Moving into 2025, it needs to explore and find new business models to improve user retention and identify its next growth curve.
Donald Trump Effect: Bitcoin Strategic Reserve Worth Anticipating
The report also discusses the potential impact of crypto-friendly policies that could arise after Donald Trump takes office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are likely to pass more quickly thanks to him.
The FIT21 Act aims to create a clear legal framework for token issuance and trading by classifying tokens as digital assets or digital commodities, transferring the regulatory responsibilities of many blockchain projects from the SEC to the CFTC, and introducing a safe harbor mechanism. This would help standardize and promote the healthy growth of the entire industry.
The Bitcoin Strategic Reserve Act, aligning with Trump’s campaign promises, if passed, would mark Bitcoin’s transition from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition. It may also prompt other countries to adopt similar measures to further advance Bitcoin’s global recognition and application.
The Act was submitted to Congress for deliberation on August 4, 2024, and referred to the Senate Banking Committee for review. Trump is well-positioned to push this bill through. Meanwhile, several U.S. states have already proposed their own Bitcoin Strategic Reserve bills. By 2025, Bitcoin as a strategic reserve may become a reality.
Additionally, under Trump’s presidency, the SAB121 Act is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further accelerating the institutionalization of crypto assets and contributing to the overall maturity of the crypto market. The SEC’s application criteria of the Howey Test may also be relaxed, increasing the likelihood of more spot crypto ETFs being approved and more public listings of crypto companies.
Meanwhile, the report also provides a comprehensive summary of 2024, looking back on the key events that had a major impact on the crypto industry while summing up what HTX had achieved over the last year.
To learn more, please visit: https://square.htx.com/htx-2024-global-web3-blockchain-ecosystem-review-and-2025-outlook/
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.
Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
Contact Details
Ruder Finn Asia
[email protected]
Company Website
https://www.htx.com
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