The global blockchain AI market size is projected to grow from USD 228 million in 2020 to USD 703 million by 2025, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period. The increasing venture capital funding and growing investments in Blockchain AI technology to drive market growth.
By component, services segment to grow at a higher CAGR during the forecast period
The services segment includes various services required to deploy, execute, and maintain the blockchain AI platform in an organization. These services include technology advisory and consulting, system integration and deployment, and support and maintenance. As the blockchain AI platform’s adoption increases, the demand for these services is expected to grow. The Infosys High Tech practice enables manufacturers, microprocessors, and system-on-chip products to achieve operational efficiencies by leveraging the synergies between AI and blockchain technologies. The services segment has witnessed tremendous growth in recent years. Therefore, the services segment registers the highest growth rate during the forecast period.
By application, the data security segment to register the highest growth rate during the forecast period
Merging AI with blockchain can not only increase operational efficiency but also ensures a more secure environment. AI helps users understand and analyze the voluminous data; however, there are chances of data hacking or leakage. The AI technology powered by blockchain provides a decentralized database that protects data related to AI, which results in enhanced security and quick and transparent operations. The rapid advancements in technologies have given organizations challenges that are related to data security. Hence, there is significant adoption of data security applications across the globe.
Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global Blockchain AI market during the forecast period. APAC constitutes major economies, such as China, Japan, and Singapore, which are expected to register high growth rates in the Blockchain AI market. Industries such as financial institutions, healthcare & life sciences, telecom and IT, manufacturing, automotive, media, and entertainment are expected to adopt blockchain AI solutions at the region’s highest rate. Companies operating in APAC would benefit from flexible economic conditions, industrialization-motivated policies, political transformation, and the growing digitalization, which is expected to impact the business community significantly.
- By Company Type: Tier 1 – 24%, Tier 2 – 20%, and Tier 3 – 56%
- By Designation: C-level – 38%, D-level – 28%, and Others – 34%
- By Region: North America – 65%, Europe – 20%, Asia Pacific – 12%, RoW – 3%
Key and innovative vendors in the Blockchain AI market include 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).
The market study covers the Blockchain AI market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by technology, by component, by application, by deployment mode, by organization size, by vertical, and by region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the revenue numbers’ closest approximations for the overall Blockchain AI market and its sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.