The global blockchain AI market is expected to secure US$ 2.8 Billion while exhibiting a 22.9% growth rate during the forecast period. The market is estimated at USD 285.7 Mn in 2021 and USD 358 Mn in 2022. The growth of the market can be attributed to the increasing monetization of customer data with the application of blockchain.
Data monetization would ease the access of AI and advanced blockchain to developing enterprises. Besides, ongoing development in AI, IoT, and big data technologies are other salient factors developing the market in the coming time. In addition, the growing demand for the combination of blockchain and AI-based natural language processing among renowned and established entities has been recognized as the most significant emerging opportunity in the market.
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On the contrary, a lack of expertise in the field is expected to hinder the market expansion in the coming time. In addition to it, lack of awareness, poor funding, and inadequate investments are other factors projected to hamper the industry growth in the forecast period.
Key Takeaways
- The global blockchain AI market estimated at USD 285.7 Mn in 2021
- The global blockchain AI market to secure USD 2.8 Bn in 2032
- The projected growth rate of the global blockchain AI market is 22.9%
- The platform segment to flourish at 21.3%
- The cloud segment to record 20.6%
- The U.S market to garner USD 917.7 Mn recording a 22.2% growth rate
- China to procure USD 208.2 Mn market value, exhibiting a 22.1% CAGR
Competitive Analysis
Key players in the global blockchain AI market include Alpha Networks, BurstIQ, NeuroChain Tech, Cyware, and Core Scientific among others. Key developments among players include:
- In September 2020, BurstIQ disclosed a strategic partnership with Tech Mahindra to provide an identity management platform, identity data management (IDM), and provider data management (PDM).
- In August 2020, BurstIQ, LLC launched its developer kit, called BustChain User Interface (UI) Software Developer Kit (SDK). The set allows enterprises to efficiently deploy and create solutions and services on the BurstIQ Platform.
- In May 2021, Figure Technologies Inc., raised USD 200 Mn in series D funding at a USD 3.2 Bn valuation. The investment will leverage blockchain to reinvent the financial services sector.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global blockchain AI market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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Key Segments Covered in the Blockchain AI Market Report
By Component:
- Blockchain AI Services
- Blockchain AI Platform/Tools
By Deployment Mode:
- Cloud –based Blockchain AI
- On-premises Blockchain AI
By Organization Size:
- Blockchain AI for Large Enterprises
- Blockchain AI for SMEs
By Technology:
- ML-based Blockchain AI
- NLP-based Blockchain AI
- Context-Aware Computing-based Blockchain AI
- Computer Vision-based Blockchain AI
By Vertical:
- Blockchain AI for Telecom and IT
- Blockchain AI for BFSI
- Blockchain AI for Healthcare and Life Sciences
- Blockchain AI for Manufacturing
- Blockchain AI for Media and Entertainment
- Blockchain AI for Automotive
- Blockchain AI for Other Verticals
By Application:
- Blockchain AI for Smart Contracts
- Blockchain AI for Payment and Settlement
- Blockchain AI for Data Security
- Blockchain AI for Data Sharing/Communication
- Blockchain AI for Asset Tracking and Management
- Blockchain AI for Logistics and Supply Chain Management
- Blockchain AI for Business Process Optimization
- Blockchain AI for Other Applications
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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