With 23.6% CAGR, Blockchain AI Market worth USD 973.6

Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) — The global Blockchain AI Market Size is estimated to reach USD 973.6 million by 2027, showing a CAGR of 23.6% during the forecast period. Increasing use of Blockchain solutions powered by artificial intelligence (AI) to combat the COVID-19 pandemic is spurring innovation in this market, Fortune Business Insights™ observes in its report, titled “Blockchain AI Market Forecast, 2020-2027”.

International and regional agencies have leveraged the capabilities of Blockchain AI to efficiently and securely collect, analyze, store and monitor data related to the coronavirus. For example, the World Health Organization (WHO) has partnered with IBM, Microsoft, Oracle and Enterprise Blockchain platform HACER to build a distributed ledger technology (DLT) called MiPasa. This technology has been developed to enable early detection of the virus and help identify carriers and hotspots. Private companies are also engaged in developing data-driven solutions to track the coronavirus. For example, Acoer has created the Coronavirus Hash Log dashboard that allows the general public to understand the extent of the virus spread and its trends over time. The data used by Acoer is obtained from WHO and CDC and released to the public through Blockchain. Thus, AI and Blockchain together strengthen the global fight against COVID-19 and fuel the growth of this market.

Industry development:

• August 2020: Fetch.ai and Waves announced a collaboration to conduct joint research and development to increase the multi-chain capacity of Fetch. In its system of autonomous economic agents (AEAs). This partnership will enable Fetch.ai to integrate machine learning with decentralized computing systems using the Gravity protocol.
• August 2020: BurstIQ announced the release of the Burst Chain® User Interface Software Developer Kit. The kit is essentially a set of accelerator tools that empower application developers to rapidly deploy blockchain-enabled web applications on the BurstIQ platform.

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Report scope and segmentation

Driving Factor

Favorable government guidelines for blockchain-based transactions to brighten market outlook

Many countries around the world are actively supporting the adoption of Blockchain-based financial transactions due to the security and transparency of this technology. For example, in Australia, transactions and trades made through cryptocurrencies have been exempted from paying taxes. The Australian Securities Exchange has also announced its plans to fully implement Blockchain technology within the next two years. In China, the national government openly supports Blockchain and AI and has actively promoted domestic smart contracts and cryptocurrency platforms such as VeChain, TRON and NEO. Another prominent example for Blockchain AI is Japan, where the whole concept of cryptocurrency emerged. A Nikkei report found that in 2017, around 40% of Bitcoin trading was done in Yen, making Japan one of the leading adopters of AI-powered Blockchain technology. The spread of such advanced technologies in major world economies is thus driving growth in the Blockchain AI market.

Click here to see the short-term and long-term impact of COVID-19 on this market:

Report coverage:

The report offers a detailed study of the market and an in-depth examination of the most important segments of the market. It provides an in-depth analysis of key players and their insightful strategies to drive the cash gains market growth. It also shares tangible insights that guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. In addition, COVID-19 effects have been added for additional information and how it is expected to affect product demand in the near future.

Regional insight

North America has an unassailable market position; Asia Pacific records highest CAGR

North America, with a market size of USD 92.8 million in 2019, is expected to hold a dominant lead in the global market due to the strong presence of large, internationally recognized technology companies such as Oracle, Google, and Amazon Web Services. These tech giants have spearheaded the development and advancement of AI, blockchain, Internet of Things (IoT) and Big Data technologies, which is a critical factor aiding North America’s dominance.

Asia Pacific is expanding its blockchain AI market share due to the initiation of blockchain projects by government and private sectors. In Europe, on the other hand, the growing presence of AI and blockchain companies and startups is expected to boost regional market growth.

Challenging landscape

Partnerships and product launches should be the most important growth strategies of key players

In an effort to gain a decisive competitive advantage, prominent players in this market are focusing their energies on launching new products and entering into partnerships to consolidate their market position. The development of next-generation offerings also enables companies to diversify their portfolios and further expand their existing customer base.

List of key players mentioned in the report:

• NeuroChain
• Hannah Systems
• Chainhaus
• Bext Holdings Inc.
• NetObjex, Inc.
• Ai-Blockchain
• Cyware Labs Inc.
• BurstIQ, LLC
• Numerai
• Gainfy
• Social Trendly, Inc.
• Alpha network
• Fetch.ai
• Nuclear science
• Figure technologies

Quick Buy – Blockchain AI Market Research Report:

Main table of contents:

• Introduction
  • Definition, by segment
  • Research methodology/approach
  • Data sources
• Important takeaways
• Market dynamics
  • Macro and micro economic indicators
  • Drivers, constraints, opportunities and trends
  • The impact of COVID-19
    • Short-term impact
    • Long-term impact
• Competitive landscape
  • Business strategies adopted by key players
  • Consolidated SWOT analysis of key players
  • SUPPORTS Analysis
  • Porter’s Five Force Analysis
  • Supply chain analysis
• Global Blockchain AI Key Players Market Share Insights and Analysis, 2019
• Key market insights and strategic recommendations
• The main interviewee’s central response
• Companies profiled
  • Overview
    • Key management
    • Headquarters etc.
  • Offers/Business segments
  • Key details
    • Employed size
    • Key economy
      • Past and present income
      • Gross margin
      • Geographic share
      • Business segment share
  • Recent developments
• Attachment/Appendix
  • Global Blockchain AIMarket Size Estimates and Forecasts (Quantitative Data), by Segment, 2016-2027
    • By component (value)
    • By technology (value)
      • Computer vision
      • Machine Learning (ML)
      • Natural Language Processing (NLP)
      • Second

TOC Continuation…!

FAQ:

How big is the Blockchain AI market?

The Blockchain AI Market is estimated to grow from USD 220.5 million in 2020 to USD 973.6 million in 2027 at a CAGR of 23.6% during the period 2020-2027.

How big is the Blockchain AI market in North America?

The market in North America was USD 92.8 million in 2019 and is expected to take a large part of the market share in the coming years.

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