Home > Media & Technology > Next Generation Technologies > AI and Machine Learning > Explainable AI Market

Explainable AI Market Share

Report ID: GMI10075
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Explainable AI Market Share

Microsoft Corporation and International Business Machines Corporation (IBM) held a significant share of over 10% in the explainable AI industry. Microsoft Corporation has a substantial market share in explainable AI due to its substantial investments in AI R&D, strong cloud infrastructure, and a wide range of AI platform offerings. Explainability elements are integrated into a range of AI tools and services offered by the corporation through its cloud computing service, Microsoft Azure.

Developers can comprehend, troubleshoot, and have confidence in their machine learning models with the aid of integrated interpretability tools offered by Azure Machine Learning. Microsoft's AI policies and efforts, such the AI for Good program that stresses responsible AI development, demonstrate the company's dedication to ethical AI and openness. Microsoft Research, the company's research division, constantly advances the field of explainable AI through innovative projects and partnerships with educational institutions.

Due to its extensive product range, ethical AI focus, and long history of AI innovations, International Business Machines Corporation (IBM) has a significant market share in explainable AI. The company's primary AI platform, IBM Watson, has sophisticated explainability features that assist people in comprehending and interpreting insights produced by AI. Watson's Explainability offering promotes confidence by enabling organizations to observe the decision-making process of AI models.

IBM has demonstrated its commitment to ethical AI with the establishment of the AI Ethics Board and the AI Fairness 360 toolbox, which offers resources for identifying and reducing bias in AI models. Explainable AI approaches and technologies are constantly evolving due to IBM's broad research capabilities, which are exemplified by IBM Research.

Explainable AI Market Companies

Major players operating in the explainable AI industry are:

Microsoft Corporation
International Business Machines Corporation (IBM)
Google LLC
NVIDIA Corporation
Amazon Web Services, Inc. (AWS)
Salesforce, Inc.
DataRobot, Inc.

Authors: Suraj Gujar, Kanhaiya Kathoke

Frequently Asked Questions (FAQ) :

The market size of explainable AI reached USD 6.55 billion in 2023 and is set to witness 7.2% CAGR from 2024 to 2032, owing to governments and regulatory agencies becoming more aware of the possible risks that AI systems worldwide.

Explainable AI industry from the model-agnostic methods segment is expected to register 19.1% CAGR from 2024 to 2032, due to providing a flexible and adaptable way to evaluate and comprehend the outputs of different AI models, making them an essential tool in the explainable AI industry.

North America market held over 85% share in 2023, due to technological advancements, legal frameworks, and large investments in AI R&D in the region.

Microsoft Corporation, International Business Machines Corporation (IBM), Google LLC, NVIDIA Corporation, Amazon Web Services, Inc. (AWS), Salesforce, Inc., and DataRobot, Inc., are some of the major explainable AI companies worldwide.