About Blockchain AI
Artificial intelligence refers to machines that are built to perform intelligent tasks that have traditionally been accomplished by humans. Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system. As there is increasing in the blockchain AI platform’s adoption similarly the demand for these services is expected to rise. The Infosys High Tech practice enables microprocessors, manufacturers, and system-on-chip products to achieve operational efficiencies by leveraging the synergies between AI and the blockchain technologies. Blockchain AI is complex in nature and is difficult to implement as well as manage. It basically requires specific skill sets for developing the technology, which can also restrain the market growth. Along with this, adoption of the cloud-based technology and Internet of Things (IoT) is creating ample amount of opportunities for growth of the market. Growing venture capital funding and rising investments in the Blockchain AI technology are likely to drive the market during the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global blockchain AI market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Blockchain AI market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Figure Technologies (United States), Cyware Labs (United States), Neurochain Tech (France), SingularityNET (Netherlands), Core Scientific (United States), NetObjex (United States), Fetch.ai (United Kingdom), Chainhaus (United States), Hannah Systems (United States), AlphaNetworks (United States) and Bext360 (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Blackbird.AI (United States) and BurstIQ (United States).
Segmentation Overview
AMA Research has segmented the market of Global Blockchain AI market by , Application (Smart Contracts, Payment and settlement, Data Security, Data Sharing/Communication, Asset Tracking and Management, Logistics and supply chain management and Business process optimization) and Region.
On the basis of geography, the market of Blockchain AI has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. Cloud will boost the Blockchain AI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. ML will boost the Blockchain AI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Platform/Tools will boost the Blockchain AI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing demand for intelligent virtual assistants
Market Growth Drivers:
Blockchain AI technologies enable data monetization and Simplification of processes along with transparency, responsibility, and immutability
Challenges:
Decentralization and data control to obstruct the violation of privacy and Improving operational efficiency in the manufacturing industry
Restraints:
Limited number of blockchain AI experts and Uncertain regulatory and compliance environment
Opportunities:
Enhancement in the acceptance of cloud-based security solutions, Increasing demand for real-time data analysis, enhanced visibility, and proactive maintenance and Growing number of partnerships and acquisitions in the market
Market Leaders and their expansionary development strategies
In September 2020, BurstIQ partnered with Tech Mahindra. The partnership is offering both solutions to Tech Mahindra’s extensive network of clients. In addition to solving critical high-cost needs in the area of data integrity and data exchange, both solutions provide a foundation on which Tech Mahindra’s clients can support a broad array of connected services: B2B data exchange, consumer engagement, dynamic consent, and more.
In August 2020, BurstIQ launched a full developer toolset for blockchain-enabled applications and services and In April 2024, Web3 infrastructure provider Ankr has launched its AI-focused Layer 1 blockchain Neura on public testnet. Initially unveiled in March, Neura enables developers to build decentralized applications that blend AI, cloud computing and blockchain technology, according to a statement shared with The Block.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Blockchain AI Developer, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.