Increasing applications of supply chain management integrated with blockchain AI technology and the minimization of operational costs are projected to propel the Blockchain AI industry’s growth in the forecast period.
The Blockchain AI Market is expected to be valued at USD 1,125.9 Million in 2027 from USD 180.7 Million in 2019, registering a CAGR of 25.6% through the forecast period. The scope of blockchain and AI have progressed into prominent technologies that can augment innovations across all the industrial verticals. These advanced technologies are combined to enhance every task’s working and efficiency in several industries, from healthcare to food supply chain logistics to financial security.
Blockchain and AI play an integral part in building and organizing enormous databases that reduce the time taken for performing tasks and bolstering cybersecurity. Blockchain AI enables data monetization, which is one of the leading factors contributing to the market’s progress. Increased adoption of cloud-based security solutions by numerous companies is projected to create growth opportunities for the market.
Blockchain AI is complex and intricate in nature and is grueling to manage and implement. It requires highly skilled professionals to develop the technology, which can potentially restrain the industry’s growth in the projected timeframe. However, the escalating adoption of cloud-based technology and the rising growth of the Internet of Things (IoT) is projected to create ample lucrative growth prospects for the industry. Moreover, the increasing venture capital funding and rising investment for the advancement of Blockchain AI technology are foreseen to drive the industry’s growth over the projected timeframe.
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Key Highlights from the Report:
- Machine learning (ML) is software that alters when it learns and understands some new information. Blockchain AI can augment the scope of machine learning to accelerate the analysis of the enormous amount of data generated in various industries.
- Organizations utilize smart contracts to minimize costs associated with the process and reduce any probability of fraudulent activities. These contracts integrated with Blockchain AI ensure that no changes or modifications can be made in them. The technology eliminates any chances that a third party can make changes of any sort in the contract.
- The small- and medium-sized enterprises sub-segment are predicted to proliferate at a significantly high CAGR during the projected timespan due to the minimal infrastructure costs and augmenting transparency in the market.
- Blockchain AI technology is actively deployed in hospitals, clinics, and laboratories to gather, analyze, and monitor patients’ information. Moreover, the rapid acceleration in the circulation rate of counterfeit drugs and other products has augmented the use of this technology as it can effectively limit the activity.
- North America occupied a significant share in the global market in 2019 and is predicted to retain its leading position. North American market is the critical revenue-generating market for Blockchain AI worldwide accredited to the escalating incorporation of the technology in BFSI and e-commerce industries in the region. The presence of prominent players and the rising competition in the United States market is further propelling the industry’s growth in the area.
- Alpha Networks, BurstIQ, LLC, AI-Blockchain, Core Scientific, Bext360, Fetch.ai, Finalze, Neurochain Tech Inc., Cyware Labs, and CoinGenius, are key players in the global Blockchain AI market.
For the purpose of this report, Emergen Research has segmented the Global Blockchain AI Market on the basis of technology, component, application, deployment mode, organization size, vertical, and region:
Technology Outlook (Revenue, USD Billion; 2017–2027)
- Context-aware Computing
- Machine Learning (ML)
- Computer Vision
- NLP
Component Outlook (Revenue, USD Billion; 2017–2027)
- Services
- Consulting
- Support & Maintenance
- System Integration & Deployment
- Platform/Tools
Application Outlook (Revenue, USD Billion; 2017–2027)
- Smart Contracts
- Data Security
- Payment & Settlement
- Data Sharing/Communication
- Business Process Optimization
- Logistics & Supply Chain Management
- Asset Tracking & Management
- Others
Deployment Mode Outlook (Revenue, USD Billion; 2017–2027)
- On-premises
- Cloud
Organization Size Outlook (Revenue, USD Billion; 2017–2027)
- SMEs
- Large Enterprises
Vertical Outlook (Revenue, USD Billion; 2017–2027)
- BFSI
- Automotive
- Telecom & IT
- Manufacturing
- Healthcare & Life Science
- Media & Entertainment
- Others
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
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