The Explainable AI Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Explainable AI Global Market Report 2024, The explainable ai market size has grown exponentially in recent years. It will grow from $6.68 billion in 2023 to $8.1 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to rising adoption of ar and vr, demand for the xr displays, growth for displays, high demand for ar devices, economic growth.
The explainable ai market size is expected to see exponential growth in the next few years. It will grow to $17.15 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to increasing adoption in educational games, increasing implementation of gesture-based computing, rising usage of smartphones, increased usage of connected devices, growing adoption by healthcare and educational sector. Major trends in the forecast period include technological development in micros displays, adoption of new technology, development of extended reality technologies, develop a new in-vehicle display imaging system, integration of advanced technology in erd.
The growing adoption of the Internet of Things (IoT) is expected to propel the growth of the explainable AI market going forward. The Internet of Things (IoT) refers to a network of interconnected physical devices embedded with sensors, software, and other technologies that collect, exchange data, and communicate with each other over the Internet or other communication networks. Explainable AI (XAI) is used in the Internet of Things (IoT) to enhance end-users trust in machines, make AI models more interpretable and transparent, and ensure transparency, trustworthiness, and effective decision-making in IoT systems. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion in 2025. Therefore, the growing adoption of the Internet of Things (IoT) is driving the growth of the explainable AI market.
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The explainable ai market covered in this report is segmented –
1) By Software Type: Standalone Software, Integrated Software, Automated Reporting Tools, Interactive Model Visualization
2) By Methods: Model-Agnostic Methods, Model-Specific Methods
3) By Vertical: Banking, Financial Services, and Insurance, Retail And E-Commerce, Information Technology Or Information Technology Enabled Services, Healthcare And Life Sciences, Government And Public Sector, Media And Entertainment, Manufacturing, Energy And Utilities, Telecommunications, Other Verticals
Major companies operating in the explainable AI market are adopting strategic partnership approaches to strengthen their offerings and expand their presence in the market. A strategic partnership is a collaborative arrangement between two or more entities, usually businesses that come together to achieve mutually beneficial and long-term objectives. For instance, in July 2023, Fujitsu Limited, a Japan-based information and communications technology company, partnered with Informa D&B, a Spain-based marketing and information company. The collaboration aims to enhance decision-making by leveraging Fujitsu's explainable AI to process and analyze data transparently. This move addresses the need for evolved AI to tackle risks, especially in areas like financial fraud. XAI provides insights into decision-making, increasing transparency and trust while minimizing biases.
The explainable ai market report table of contents includes:
1. Executive Summary
2.Explainable AI Market Characteristics
3.Explainable AI Market Trends And Strategies
4.Explainable AI Market analysis
5.Explainable AI Market Size And Growth
6.Explainable AI Segmentation
7.Explainable AI Regional And Country Analysis
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27.Explainable AI Competitive Landscape And Company Profiles
28.Explainable AI Key Mergers And Acquisitions
29.Explainable AI Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amazon Web Services
- Alphabet Inc.
- Microsoft Corporation
- Intel Corporation
- International Business Machines Corporation
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The Global Explainable AI Market size is estimated to be USD 3.55 billion in 2019 and is predicted to reach USD 21.78 billion by 2030 with a CAGR of 19.9% from 2020-2030.Explainable AI Market research report is a careful examination of the worldwide Explainable AI industry which has been a region of enthusiasm for an Explainable AI makers, organizations, authorities, chiefs, and likely speculators, and analysts.
The report profoundly lights up noteworthy features in the business, including a contention situation, condition, portions, showcase size, share, gainfulness, development potential, and advancements.The report likewise spins around the most powerful factors of the worldwide Explainable AI advertise which incorporates changing business sector elements, contemporary patterns, development driving components, showcase limitations, and snags as they may impact the market improvement in a positive/negative manner.
The report breaks down the above elements at a moment level and furthermore offers significant expectations for the gauge time of up to 2030.Access Full Description of this report at:-https://www.nextmsc.com/report/explainable-ai-marketTop Companies: Data Robot, Fact mata, Darwin AI, IBM Corporation, Google LLC, Microsoft Corporation and others.The report additionally conveys inside and out contextual investigations on the different nations which are effectively associated with the Explainable AI creation.
An investigation of the specialized boundaries, different issues, cost adequacy influencing the Explainable AI Market.
Deciding the chances, eventual fate of the Explainable AI and its restrictions turns into much simpler with this report.Request sample copy of this report at:-https://www.nextmsc.com/explainable-ai-market/request-sampleThe objectives of the study of this report are:To study and forecast the market size of Explainable AI in the global market.Global Key Players Analysis, SWOT Analysis, Global Market Value and Share for Top Players.Definition, description and forecast of the market by type, end use and region.Analysis and comparison of market status and forecast among major regions around the world.Analysis of market potential and advantages, opportunities and challenges, restrictions and risks of major regions of the world.Identify the trends and key factors driving or inhibiting the growth of the market.Analysis of market opportunities for stakeholders by identifying high growth segments.The main questions answered by the report are:What will the market be and how big will the growth rate be in 2030?What are the key drivers of the global Explainable AI market?What are the major market trends influencing the growth of the global Explainable AI market?What are the challenges of market growth?Who are the main suppliers in the global Explainable AI market?What market opportunities and threats are vendors exposed to in the Global Explainable AI Market?Trend factors affecting market share in America, APAC, Europe and MEA.About Next Move Strategy Consulting:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.
Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade.
