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Blockchain AI Market: Segmented by deployment mode (Cloud and on-premises); by industry vertical (BFSI, Automotive, & Media) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
Blockchain AI market to surpass USD 1.3 billion by 2030 from USD 279 million in 2020 at a CAGR of 20.4% in the coming years, i.e., 2021-30.
Without any automation management and human interaction, Blockchain AI communication allows devices to communicate simply with each other. A wide range of industries including energy and utilities, healthcare, manufacturing, and others benefit from these communication platforms by delivering dependable and cost-effective remote management, connectivity, and hardware communication solutions. Its main means of communication is through machine to machine (M2M), which aids humans in a variety of ways. In order to take advantage of higher coverage and reduced network launch costs for M2M devices, many of them are now using cellular networks. A mobile phone's dynamic protocol stack, high power consumption, and high cost make machine terminals similar to mobile phones.
The adoption of new technology is favored in business processes such as logistics and supply chain management, as well as payment and settlements. Supply chain management takes the lead over the competition because key firms are working on a blockchain AI interface that will aid in the management of many complex supply chain management systems. The market is growing due to the increased adoption of blockchain AI solutions by various businesses.
Global Blockchain AI Market is segmented by deployment model into Cloud and on-premises. For the industry’s Blockchain AI, cloud is mainly the preferred option because it makes it easy to operate, saves costs, and facilitates flexibility. In addition, marketing initiatives from leading solutions providers has helped create cloud as a viable and seamless deployment alternative amongst traditionally viewed industries. The cloud deployment model allows consistency in operations and fast real-time implementation for enterprises. This is the reason why cloud Blockchain AI applications gain greater popularity than on-premises applications in global enterprises. It also offers a range of advantages including reduced running cost, quick deployment, and greater connected resources scalability.
Global Blockchain AI market is divided by industry vertical into BFSI, Automotive, & Media. The BFSI sector is focusing on important technologies that help customers secure transactions. Furthermore, by harnessing the potential of both AI and blockchain solutions, the technology change from centralized infrastructure management to a distributed ecosystem is opening the way for new business models in payments, online banking, and financial transaction technologies. As separate solutions, blockchain and AI address different financial concerns, but they may also be used to improve numerous business operations in the financial industry, making it smarter and more effective. As a result, BFSI has the fastest growth rate over the anticipated period.
Data monetization
Smaller businesses would be able to access AI and advanced blockchain thanks to data monetization. For enterprises that do not control data sets, the developing and increasing AI technology is expensive. A decentralized market would make room for such businesses where it would otherwise be prohibitively expensive. As a result, Blockchain AI is the ultimate enabler of data monetization, which is projected to be one of the blockchain AI market's key driving forces.
Management of Supply Chain
The adoption of new technology is favored in business processes such as logistics and supply chain management, as well as payment and settlements. Supply chain management takes the lead over the competition because key firms are working on a blockchain AI interface that will aid in the management of many complex supply chain management systems. The market is growing due to the increased adoption of blockchain AI solutions by various businesses.
Lack of knowledge and technical know-how
Blockchain AI is a complicated system, and enterprises need a workforce with specific skill sets to create, manage, and implement Blockchain AI systems. The Blockchain AI technology is still in its infancy. This technology has numerous advantages; yet, despite the fact that many Blockchain AI solution suppliers have entered the market, blockchain adoption is still lacking. Businesses that use this technology will require highly trained personnel with extensive knowledge of blockchain AI applications.
Figure Technologies (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Blockchain AI Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Blockchain AI market in APAC held the largest market share of XX% in the year 2020. Asia Pacific (APAC) has seen advanced and rapid adoption of new technologies, and the worldwide Blockchain AI market is predicted to grow at the fastest rate throughout the forecast period. APAC is made up of key markets like China, Japan, and Singapore, all of which are likely to have rapid expansion in the Blockchain AI industry. Financial institutions, healthcare, and life sciences, telecom and IT, manufacturing, automotive, media, and entertainment are projected to embrace Blockchain AI solutions at the fastest rate in the region.
| Report Attribute | Details |
| Market size value in 2021 | USD 279 million |
| Revenue forecast in 2030 | USD 1.3 billion |
| Growth Rate | CAGR of 24.4% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | End-user, deployment, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Figure Technologies (US), Cyware Labs (US), Core Scientific (US), NetObjex (US), Fetch.ai (UK), Ai-Blockchain (US), AlphaNetworks (US), Bext360 (US), Blackbird.AI (US), BurstIQ (US), Chainhaus (US), CoinGenius (US), Computable (US), Finalize (US), Gainfy (US), Hannah Systems (US), LiveEdu (UK), Mobs (US), Other Prominent Players. |
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