The AI Governance Market is projected to grow at a CAGR of over 52% between 2024 and 2032, driven by the increasing demand for ethical hacking and penetration testing to enhance cybersecurity. The market is influenced by the proliferation of AI and IoT technologies, leading to concerns about ethical implications and the shortage of trained personnel. The North America AI governance market held over 40% of the revenue share in 2023 and is estimated to record a CAGR of around 50% till 2032, driven by the high prevalence of cybersecurity risks. Major companies operating in the AI governance industry include Alphabet Inc., BigID, Capgemini, Deloitte, Facebook Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, and others.

AI Governance Market Projected to Grow