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.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
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
• Google
• Salesforce
• Intel Corporation
• NVIDIA
• SAS Institute
Explainable AI Market Insights
Lucintel 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
• Google
• Salesforce
• Intel Corporation
• NVIDIA
• SAS Institute
Q6. Which explainable AI market segment will be the largest in future?
Answer: Lucintel 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, Lucintel provides 10% customization without any additional cost.
This report answers 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?
For any questions related to Explainable AI Market, Explainable AI Market Size, Explainable AI Market Growth, Explainable AI Market Analysis, Explainable AI Market Report, Explainable AI Market Share, Explainable AI Market Trends, Explainable AI Market Forecast, Explainable AI Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.