According to a new report, published by KBV research, The Global AI Trust, Risk And Security Management Market size is expected to reach $8.2 billion by 2031, rising at a market growth of 20.3% CAGR during the forecast period.
The On-premise segment is generating the highest revenue in the Global AI Trust, Risk And Security Management Market by Deployment Mode in 2023; thereby, achieving a market value of $4.8 billion by 2031. The Cloud market is expected to witness a CAGR of 22.3% during (2024 - 2031). Many enterprises favor on-premises AI trust, risk and security management solutions to retain direct control over their infrastructure. On-premises deployment to manage and customize security measures according to their specific needs and regulatory requirements. This level of control is particularly crucial in industries such as finance and healthcare, where stringent regulations mandate a high degree of oversight and control over data handling and security protocols.
The Services segment exhibits a CAGR of 21.4% during (2024 - 2031). Implementing AI technologies involves various complexities, including data integration, model development, deployment, and ongoing maintenance. Organizations often lack the necessary expertise and resources to navigate these complexities effectively. As a result, there is a growing demand for services such as consulting, implementation, and integration to help organizations successfully adopt and operationalize AI while ensuring trust, risk management, and security.
The Governance & Compliance segment is acquiring the maximum revenue in the Global AI Trust, Risk And Security Management Market by Application in 2023; thereby, achieving a market value of $3.5 billion by 2031. The segment’s growth can be attributed to the widespread adoption of AI in various industries, driving the demand for robust governance and compliance frameworks. Other factors include the rising reliance on AI technologies, growing awareness about associated risks, such as bias and security vulnerabilities, the evolving regulatory landscape, and increased public scrutiny as consumers demand ethical and responsible AI practices.
The ModelOps segment is registering a CAGR of 20% during (2024 - 2031). ModelOps or model operations refers to the end-to-end lifecycle management of AI and ML models, encompassing development, testing, deployment, monitoring, and maintenance. The increasing complexity of AI models and the integration of ML models into various business processes has intensified the need for efficient and reliable modelOps solutions. One of the key drivers contributing to the segment’s growth is the exponential growth in the number of deployed AI models across various industries.
The Large Enterprise segment is leading the Global AI Trust, Risk And Security Management Market by Enterprise Size in 2023; thereby, achieving a market value of $5.4 billion by 2031. This can be attributed to the growing integration of AI across diverse domains, from marketing and sales to finance and risk management, within large enterprises. The need for AI trust, risk and security management solutions arises from the increased reliance on AI technologies, emphasizing the need for responsible and secure implementation within large enterprises.
The Healthcare segment is experiencing a CAGR of 21.8% during (2024 - 2031). Large volumes of sensitive patient data, such as payment information, medical records, and personal health information, are handled by healthcare institutions. The use of electronic health record (EHR) systems and the growing digitization of medical records have increased the vulnerability of this data to cybersecurity attacks. AI trust, risk and security management solutions help healthcare organizations protect sensitive patient data from unauthorized access, breaches, and cyber-attacks, ensuring patient privacy and confidentiality.
Full Report: https://www.kbvresearch.com/ai-trust-risk-and-security-management-market/
The North America region dominated the Global AI Trust, Risk And Security Management Market by Region in 2023; thereby, achieving a market value of $2.8 billion by 2031. The Europe region is anticipating a CAGR of 19.8% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 21.1% during (2024 - 2031).
By Deployment Mode
By Component
By Application
By Type
By Enterprise Size
By End-use
Unique Offerings 
