How big is the Explainable AI Market?

The Explainable AI Market size is expected to reach USD 8.63 billion in 2024 and grow at a CAGR of 19.69% to reach USD 21.19 billion by 2029. Read More

What is the current Explainable AI Market size?

In 2024, the Explainable AI Market size is expected to reach USD 8.63 billion. Read More

Who are the key players in Explainable AI Market?

IBM Corporation, Microsoft Corporation, Amelia US LLC, Google LLC and Arthur.ai are the major companies operating in the Explainable AI Market. Read More

Which is the fastest growing region in Explainable AI Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Explainable AI Market?

In 2024, the North America accounts for the largest market share in Explainable AI Market. Read More

What years does this Explainable AI Market cover, and what was the market size in 2023?

In 2023, the Explainable AI Market size was estimated at USD 6.93 billion. The report covers the Explainable AI Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Explainable AI Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Explainable AI Market Size & Share Analysis - Industry Research Report

Explainable AI Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Explainable AI Market Report is Segmented by Offering (Solutions and Services), Deployment (Cloud and On-Premise), End-User Industry (BFSI, Healthcare, Manufacturing, Retail, IT and Telecommunication, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Explainable AI Industry Overview

The XAI market is semi-consolidated, with a few prominent players such as IBM Corporation, Microsoft Corporation, Amelia US LLC, Google LLC, and Arthur.ai. To increase market share, corporations continually spend on strategic partnerships or acquisitions and solution and services development. The following are some recent market developments:

In March 2024, Apple Inc. acquired DarwinAI, an AI visual quality assurance startup that provides an end-to-end solution for improving product quality while increasing production efficiency. Darwin AI's patented XAI platform has been adopted by numerous Fortune 500 companies. Apple’s acquisition of DarwinAI aligns with its longstanding practice of discreetly assimilating innovative technology firms into its ecosystem.
In July 2023, Fujitsu Limited announced a strategic agreement with Informa D&B to deliver new value by bringing XAI to the business and financial information industry. This collaboration brings with it a new era of decision-making through the incorporation of explainable AI technology. Fujitsu and Informa are committed to bringing transformative innovation to the industry through the introduction of this technology, which will allow Informa's 4.5 million users in Spain access to highly sophisticated data in an agile and efficient manner, significantly improving the quality of business information solutions.