MarketsandMarkets forecasts the global explainable AI market to climb from USD 6.2 billion in 2023 to USD 16.2 billion by 2028 at a 20.9% CAGR, fueled by regulatory requirements and rising demand for AI transparency.
Key points
- Market expands from USD 6.2 billion in 2023 to USD 16.2 billion by 2028 at 20.9% CAGR
- Healthcare & life sciences vertical registers highest CAGR due to clinical and regulatory needs
- Software toolkits and frameworks segment leads in market size for developer-centric solutions
- Model-agnostic methods segment grows fastest, offering universal explanations
- Asia Pacific region shows highest regional growth, driven by government AI initiatives
Q&A
- What is explainable AI?
- Why is the healthcare sector leading growth?
- What are model-agnostic methods?
- What drives market growth?
