Blockchain AI Market Outlook, Business Opportunities And Growth Factors Report To 2033

Jul 15, 2024 - 12:11

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Overview and Scope
Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system. Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed so that machines can think like humans and mimic their actions. Blockchain AI convergence is inevitable because of both the technology with data and value. Blockchain enables secure storage and sharing of data whereas AI can analyze and generate insights from data to generate value.

Sizing and Forecast
The blockchain AI market size has grown exponentially in recent years. It will grow from $0.47 billion in 2023 to $0.58 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to security and transparency in transactions, efficient data management, smart contract adoption, fraud detection and prevention, decentralized autonomous organizations (DAOs).

The blockchain AI market size is expected to see exponential growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to interoperability and standardization, supply chain optimization, tokenization and digital assets, decentralized finance (DeFi) evolution. Major trends in the forecast period include interoperability across blockchain platforms, AI-driven blockchain security solutions, decentralized autonomous organizations (DAOs) for AI governance, AI-enhanced consensus mechanisms, cross-industry applications.

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Segmentation & Regional Insights
The blockchain AI market covered in this report is segmented –
1) By Technology: Computer Vision, Machine Learning (ML), Natural Language Processing (NLP), Other Technologies
2) By Vertical: BFSI, Telecom & IT, Healthcare and Life science, Manufacturing, Media & Environment, Automotive, Other Verticals
3) By Application: Smart Contract, Payment, Data Security, Logistics and supply chain management, Business process optimization, Other Applications

North America was the largest region in the blockchain AI market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the blockchain ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing demand for accessing and managing data efficiently contributed to the growth of the blockchain AI market. Currently, most of the work has become digitalized and is mostly stored on the cloud, which is accessed and managed by blockchain AI. Blockchain AI convergence is inevitable because both the technology deal with data and value. Blockchain enables secure storage and sharing of data whereas AI can analyze and generate insights from data to generate value. For instance, Gainify is a healthcare platform that leverages AI, IoT devices, and blockchain and facilitates different tasks such as streamlining appointment scheduling, digital payments, identity verification, medical records management and others. It also allows the monetization of anonymous clinical data through a crypto payment system. The benefits of the deployment of blockchain AI in the process increased its demand and thereby contributed to the blockchain AI market growth.

Key Industry Players
Major companies operating in the blockchain AI market report are Microsoft Corp., IBM Corp., Oracle Corp., AlphaNetworks Inc., Salesforce Inc., Fidelity Information Services LLC, CertiK, Barca Vision, Core Scientific Inc., Hannah Systems, ORS Group, Figure Technologies Inc., SandboxAQ, Plato Technologies Inc., NetObjex Inc., Phlo Systems Ltd., Cyware Labs Pvt. Ltd., Bext Holdings Inc., Neurochain Tech, Fetch.AI, Solidus Labs, Gainfy Healthcare Network, BurstIQ Inc., Token Metrics Media LLC, Blackbird.AI, AnChain.Ai, Verisart Inc., WealthBlock, Petuum Inc., Scifn

The blockchain ai market report table of contents includes:
1. Executive Summary
2. Blockchain Market Characteristics
3. Blockchain Market Trends And Strategies
4. Blockchain Market - Macro Economic Scenario
5. Global Blockchain Market Size and Growth
....

32. Global Blockchain Market Competitive Benchmarking
33. Global Blockchain Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Blockchain Market
35. Blockchain Market Future Outlook and Potential Analysis
36. Appendix

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