Blockchain AI Market Will Escalate Rapidly in the Near Future

Posted 2 years ago in TECHNOLOGY.

Blockchain AI Market Research Report: Information By Technology (ML, NLP, Context-Aware Computing, Computer Vision), Component (Platform/Tools, Services (Consulting, System Integration and Deployment and Support and Maintenance))

Overview

The global blockchain AI market is expected to reach USD 785.8 million by 2026, registering a CAGR of 20.71% during the forecast period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse into the coming years

The global blockchain AI market has been segmented based on technology, component, applications, deployment mode, organization size, vertical, and region

Based on technology, the blockchain AI market has been segmented into machine learning, natural language processing, context-aware computing, and computer vision. The machine learning segment accounted for the largest market share and is expected to hold the highest CAGR during the forecast period. The machine learning segment extracts meaningful insights from raw data to solve complex, data-rich business problems quickly. Additionally, it helps improve the efficiency of logistics and transportation networks.

Based on component, the blockchain AI market has been segmented into platform/tools and services. The service segment held the larger market share of the global blockchain AI market and is also expected to witness a higher CAGR during the forecast period. The service segment is further divided into consulting, system integration and deployment, and support and maintenance. It deploys, executes, and maintains the blockchain AI platform in an organization.

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Based on applications, the blockchain AI market has been segmented into smart contracts, payment and settlement, data security, data sharing/communication, asset tracking and management, logistics and supply chain management, business process optimization, and other. The data security segment is expected to dominate the market over the forecast period as it offers enhanced operational efficiency and ensures a more secure environment. The data security segment enhanced security and quick and transparent operations.

Based on deployment mode, the blockchain AI market has been segmented into cloud and on-premises. The cloud segment is expected to register the largest market share during the forecast period as it assists in secure data storage and offers remote access to any work-related data.

Based on organization size, the blockchain AI market has been segmented into large enterprises and SMEs. The SMEs segment is projected to register a faster growth rate over the forecast period. SMEs are adopting solutions powered by blockchain and AI as they allow businesses to access high-quality data and insights at a low cost.

Based on vertical, the blockchain AI market has been segmented into BFSI, telecom and IT, healthcare and life science, manufacturing, media and entertainment, automotive, and other. The BFSI vertical segment is expected to witness the highest CAGR during the forecast period. Financial service providers are using blockchain-AI technology, which helps secure transactions for customers.

Competitive Analysis

The key players of the global blockchain AI market are 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), Finalze (US), Gainfy (US), Hannah Systems (US), LiveEdu (UK), Mobs (US), Neurochain Tech (France), Numerai (US), SingularityNET (The Netherlands), Stowk (US), Synapse AI (US), Talla (US), Verisart (US), VIA (US), Vytalyx (US), Wealthblock.AI (US), and Workdone (US).

Regional Analysis

The regional analysis for the global blockchain AI market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth can be attributed to the growing adoption of blockchain-AI technology among the various verticals.

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