New York, US, Aug. 24, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Blockchain AI Market information by Technology, by Components, by Application and Region – forecast to 2027” market to expand at 20.71% CAGR to reach USD 785.7 million by 2026.
Dominant Key Players on Blockchain AI Market Covered Are:
- NetObjex (US)
- Fetch.ai (UK)
- Ai-Blockchain (US)
- Figure Technologies (US)
- LiveEdu (UK)
- Cyware Labs (US)
- Core Scientific (US)
- AlphaNetworks (US)
- Bext360 (US)
- Blackbird.AI (US)
- SingularityNET (Netherlands)
- Synapse AI (US)
- Talla (US)
- Verisart (US)
- VIA (US)
- Vytalyx (US)
- BurstIQ (US)
- Chainhaus (US)
- CoinGenius (US)
- Wealthblock.AI (US)
- Numerai (US)
- Computable (US)
- Finalze (US)
- Neurochain Tech (France)
- Gainfy (US)
- Hannah Systems (US)
- Mobs (US)
- Stowk (US)
- Workdone (US)
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Blockchain AI Market Drivers
Increasing Number of Government Initiatives
Blockchain is a distributed, decentralized, immutable ledger used to store encrypted data. Data analytics and decision-making are made possible by artificial intelligence. Blockchains improve machine learning capabilities and allow AI to generate and exchange financial products. It provides safe data storage and sharing. To generate value, blockchain AI is integrated with data analysis and insight generation. The growing desire for data monetization as it enables blockchain and AI technologies for smaller businesses is expected to drive demand for blockchain AI. Furthermore, the increasing usage of cloud-based technologies and the Internet of Things (IoT) is opening up new opportunities for blockchain AI solution providers. Blockchain AI improves data security, boosts trust in robotic decisions, aids in group decision-making, and decentralizes intelligence. Blockchain AI provides a decentralized and scalable environment for diverse platforms, devices, and applications, as well as allowing connected devices to improve security and operational efficiency in ecosystems. An increasing number of government initiatives for the use of Blockchain AI in many industries throughout the world are factors that are projected to generate a considerable potential for market participants during the forecast period.
Browse In-depth Market Research Report (141 Pages) on Blockchain AI Industry:
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Segmentation of Market Covered in the Research:
The global blockchain AI industry has been segmented based on technology, components, applications, deployment mode, organization size, and vertical.
Based on technology, the worldwide blockchain AI market has been segmented into machine learning, natural language processing, context-aware computing, and computer vision.
Based on components, the worldwide blockchain AI market has been segmented into Platform/Tools and Services. The service segment has been subdivided into consulting, system integration and deployment, and support and maintenance.
Based on applications, the worldwide blockchain AI market has been segmented into smart contracts, asset tracking and management, payment and settlement, data security, data sharing/communication, logistics and supply chain management, business process optimization, and others.
Based on deployment mode, the worldwide blockchain AI market has been segmented into cloud and on-premise.
Based on organization size, the worldwide blockchain AI market has been segmented into large enterprises and SMEs.
Based on vertical, the worldwide blockchain AI market has been segmented into BFSI, telecom & IT, media & entertainment, healthcare & life science, manufacturing, automotive, and others.
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Regional Analysis
North America to Dominate the Global Market
North America dominated the blockchain AI market, followed by the Asia Pacific and Europe; this dominance is likely to continue till the end of the forecast period. North America is an important market for blockchain and AT technologies. The highest market share was held by the United States, followed by Canada and Mexico. The United States has a considerable market share in North America due to key enterprises such as Figure Technologies, Ai-Blockchain, and AlphaNetworks making a name for themselves in the region.
COVID-19 Impact on the Global Blockchain AI Market
The global escalation of the COVID-19 crisis has had a huge impact on the blockchain AI sector. The COVID-19 catastrophe has posed enormous challenges to the world economy, hurting millions as a result of badly disrupted health, family, and poor financial conditions. For example, the World Health Organization (WHO) declared COVID-19 a global pandemic in March 2020, putting numerous countries on lockdown. Since governments around the world have imposed lockdowns as a result of the COVID-19 outbreak, commercial activity has been reduced, increasing reliance on online businesses to deliver critical services to consumers. This factor has raised the need for blockchain AI as it delivers data security and robustness. End-users have been able to improve the efficiency of their systems by combining blockchain and AI. It streamlines company operations while boosting transparency and immutability and focusing on operational effectiveness. During the pandemic, this has generated an opportunity for vendors operating in the global blockchain AI market.
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Industry News
In June 2020, NetObjex acquired VitalGrid to extend its digital transformation product and service offerings. This acquisition enables it to provide strategic insights to enterprise clients and turn them into digital automation solutions by using technologies such as IoT, AI, and blockchains.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.