The Explainable AI Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Explainable AI Market?
The size of the explainable AI market has seen substantial growth over the past few years. The market size expanded from $8.1 billion in 2024 and is forecasted to reach $9.77 billion in 2025, with a compound annual growth rate (CAGR) of 20.6%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Explainable AI Industry?
The Explainable AI Global Market Report 2025 forecasts that by 2029, the market size for explainable AI will reach $20.74 billion, growing at a compound annual growth rate (CAGR) of 20.7%.
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What are the Key Growth Drivers Fueling the Explainable AI Market?
The key drivers in the explainable ai market are:
• Increasing implementation of gesture-based computing
• Growing usage of smartphones and connected devices
• Adoption of AI technology in healthcare and educational sectors
• Technological advancements and integration in extended reality and in-vehicle display imaging systems
Global Market Segmentation: Identifying Major Explainable AI Industry Segments
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
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What are the Emerging Trends Shaping the Future of the Explainable AI Market?
The key trends in the explainable ai market are:
• There is a shift towards adopting explainable AI in educational games and gesture-based computing.
• The emergence of new display technology, including extended reality and in-vehicle imaging, is redefining the market.
• Increased use of smartphones and connected devices is driving adoption of explainable AI.
• Adoption by the healthcare and education sectors constitutes a significant trend in the explainable AI market.
Who Are the Top Competitors & Leading Players in the Explainable AI Market?
Major companies in the explainable ai market are:
• Amazon Web Services
• Alphabet Inc.
• Microsoft Corporation
• Intel Corporation
• International Business Machines Corporation
• NVIDIA Corporation
• Salesforce Inc.
• Equifax Inc.
• SAS Institute Inc.
• Mphasis Limited
• Fair Isaac Corporation
• Databricks Inc.
• Alteryx Inc.
• Amelia US LLC
• Temenos Headquarters SA
• BuildGroup LLC
• C3.ai Inc.
• Data Robot Inc.
• Tredence Analytics Solutions Pvt. Ltd.
• ArthurAI Inc.
• DarwinAI Corp.
• ISSQUARED Inc.
• H2O.ai Inc.
• Fiddler Labs Inc.
• Ditto Labs Inc.
Regional Dominance: Which Area Leads the Global Explainable AI Market?
North America was the largest region in the Explainable AI market in 2024
