Blockchain AI Market

Analysts at GMI Research estimates that the Blockchain AI Market was worth USD 8.3 billion in 2022, and forecast to touch USD 335.8 billion in 2030, growing at a significant higher CAGR of 58.9% from 2023-2030.

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Major Blockchain AI Market Drivers

Rising demand for the decentralization of data ledgers and blockchain as a service (BaaS) for enhanced data security management, enterprise resource management, and supply chain management by organization is expected to drive the growth of the blockchain AI market size during the forecast period. In addition, the combination of AI and blockchain complement and enhance each other and help in optimising energy consumption, identifying decisions & enabling understanding, improving trust on robotic decision, making collective decision, decentralised decision, securing mission-critical data, and offer high AI efficiency. Moreover, the increasing adoption of cloud-based technologies and the advancement in artificial intelligence, the Internet of Things (IoT), and big data technologies are expected to drive the demand for customer data monetization solutions for making precise business decisions, thereby boosting the market for blockchain AI solutions.

Restraint in the Blockchain AI Market

However, highly expensive development of AI technology and lack of skilled workforce owing to the complexity in developing, managing, and implementing Blockchain AI systems are the factors expected to restraint the growth of the market. Additionally, risk of cyber-attacks including DDoS’s attack and cryptographic cracking may further hamper the market growth.

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Component – Segment Analysis

Based on the component, the services segment is expected to grow substantially during the forecast period owing to the rising need for Blockchain AI services including deployment, integration, maintenance, and technology consulting from organizations.

Technology – Segment Analysis

Based on the technology, the machine learning is anticipated to account for a prominent share in the market. This is primarily due to the increasing investments in artificial intelligence (AI) and use of machine learning solutions for data mining, encrypting, and protecting data in sectors including BFSI, retail, healthcare, utility, and manufacturing

Deployment Mode – Segment Analysis

Based on the deployment, cloud-based blockchain AI solutions is projected to witness high growth primarily due to its benefits, including easy deployment, cost-effectiveness, scalability, and high security. Moreover, cloud-based solutions help in reducing installation expenses and maintenance of servers, which further contributes to the market growth.

Application – Segment Analysis

Based on the application, the logistics and supply chain management is expected to hold a notable share in the market. This can be attributed to its several benefits that includes real-time product tracking, enhanced record keeping, forecasts and predictions based on previous data, error-free flow of good, advance inventory management, minimize delays in paperwork, build consumer and participant trust, and create greater connectivity across supply networks.

Industry Vertical – Segment Analysis

Based on the industry vertical, BFSI is projected to account for a large market share owing to the increasing adoption of distributed ecosystem in banking and financial organizations, growing demand for fast transaction settlements and increased transparency. Westpac Group, Nasdaq, Inc., the Bank of China, ALFA Bank, Commonwealth Bank, and JPMorgan Chase & Co. are some of the financial institutions that have adopted blockchain technology, which further propels the growth of the market.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a large share in the Blockchain AI Market primarily due to the rising adoption of AI based blockchain solution in energy & utilities, banks, hospitals, and defence sectors. Presence of large number of blockchain AI solution providers including Bext360, Core Scientific, Inc., and Cyware Labs, is expected to stimulate the market growth.

Top Market Players

Several Leading players operating in the market, include, Northern Data AG, Bext360, BurstIQ, Neurochain Technology, Core Scientific, Inc., Cyware Labs, NetObjex, Fetch.ai, Ai-Blockchain, and AlphaNetworks, Inc. among others. 

Key Developments: 

• • In 2020, Fetch.ai partnered with Waves Technologies for developing AI solutions that can be accessible to multiple blockchain networks via the Gravity Protocol. The aim of the partnership is to conduct a joint R&D for increasing the multi-chain capabilities of Fetch.ai’s Autonomous Economic Agents (AEA).

Segments covered in the Report:

The global Blockchain AI Market has been segmented on the basis of component, technology, deployment mode, application, industry vertical, and key regions. Based on component, the market is segmented into platform and services. Based on technology, the market is segmented into computer vision, machine learning, natural language processing, and others. Based on deployment mode, the market is segmented into cloud and on-premises. Based on applications, the market is segmented into smart contracts, logistics and supply chain management, payment and settlement, asset tracking and management, and others. Based on the industry vertical, the market is segmented into BFSI, telecom and IT, healthcare and life science, manufacturing, media and entertainment, energy and utilities, and others. 

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Market Segmentation

Global Blockchain AI Market by Component

• • Platform
  • Services

Global Blockchain AI Market by Technology

• • Computer Vision
  • Machine Learning
  • Natural Language Processing
  • Others

Global Blockchain AI Market by Deployment Mode

• • Cloud
  • On-premises

Global Blockchain AI Market by Application

• • Smart Contracts
  • Logistics and Supply Chain Management
  • Payment and Settlement
  • Asset Tracking and Management
  • Others

Global Blockchain AI Market by Industry Vertical

• • BFSI
  • Telecom and IT
  • Healthcare and Life Science
  • Manufacturing
  • Media and Entertainment
  • Energy and Utilities
  • Others

Global Blockchain AI Market by Region

• • North America Blockchain AI Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Technology
    • By Deployment Mode
    • By Application
    • By Industry Vertical
    • US Market All-Up
    • Canada Market All-Up

  • Europe Blockchain AI Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Technology
    • By Deployment Mode
    • By Application
    • By Industry Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Blockchain AI Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Technology
    • By Deployment Mode
    • By Application
    • By Industry Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Blockchain AI Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Technology
    • By Deployment Mode
    • By Application
    • By Industry Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Blockchain AI Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Northern Data AG
  • Bext360
  • BurstIQ
  • Neurochain Technology
  • Core Scientific, Inc.
  • Cyware Labs
  • NetObjex
  • ai
  • Ai-Blockchain
  • AlphaNetworks, Inc.