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An increase in applications of supply chain management incorporated with blockchain AI technology and decline in the operational cost are estimated to drive
— Emergen Research
VANCOUVER, BC, CANADA, May 9, 2023 /EINPresswire.com/ — The global Blockchain AI Market is estimated to reach value of USD 1,125.9 Million by 2027, according to a current analysis by Emergen Research. Blockchain and AI have progressed into leading technologies that can power innovations in almost all industries. They are being used together to enhance everything from healthcare record sharing to food supply chain logistics and financial security.
They help in building and organizing massive databases, performing tasks in less time, and strengthening cyber security. Blockchain AI is an enabler of data monetization, which is one of the primary driving factors for the market. The Blockchain AI is witnessing an increased adoption among enterprises. A growing adoption of cloud-based security by the companies will provide growth opportunity to the market.
Blockchain AI is complex in nature and is difficult to manage as well as implement. It requires specific skill sets to develop the technology, which can also restrain the market. Moreover, adoption of cloud-based technology and Internet of Things (IoT) is creating ample opportunities for growth of the market. Increasing venture capital funding and growing investments in Blockchain AI technology are projected to drive the market during the forecast period.
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Key market participants include
Alpha Networks
AI-Blockchain
BurstIQ, LLC
Bext360
Core Scientific
CoinGenius
Fetch.ai
Cyware Labs
Finalze, Inc.
Neurochain Tech
Key Highlights of Report
Machine learning is described as a software that changes when it learns new information. Blockchain AI can benefit machine learning to accelerate the analysis of a large volume of data.
Smart contracts are used by organizations to reduce cost and avoid any fraud. These contracts deployed over Blockchain AI guarantee that no modifications can be made in them. The technology makes it impossible for any third party to make any changes in the contract.
The small- and medium-sized enterprises segment is expected to expand at a significant CAGR during the forecast period, due to reduction in infrastructure costs and growth in the transparency of the market .
Blockchain AI technology is being used in hospitals, clinics, and labs to record, analyze, and monitor patient information. Furthermore, there has been increase in the circulation of counterfeit drugs, which can be limited by the usage of this technology.
North America held the largest market share and is the most attractive market for Blockchain AI across the world, due to growing adoption of the technology in BFSI and e-commerce sectors in this region. The highly competitive market in the U.S. due to presence of major market players is also propelling the market in the region.
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For the purpose of this report, Emergen Research has segmented the global Blockchain AI market based on technology, component, application, deployment mode, organization size, vertical, and region:
Technology Outlook (Revenue, USD Billion; 2017–2027)
Machine Learning (ML)
NLP
Context-aware Computing
Computer Vision
Component Outlook (Revenue, USD Billion; 2017–2027)
Platform/Tools
Services
Applications Outlook (Revenue, USD Billion; 2017–2027)
Smart Contracts
Payment & Settlement
Data Security
Data Sharing/Communication
Asset Tracking & Management
Logistics & Supply Chain Management
Business Process Optimization
Others
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Deployment Mode Outlook (Revenue, USD Billion; 2017–2027)
Cloud
On-premises
Organization Size Outlook (Revenue, USD Billion; 2017–2027)
Large Enterprises
SMEs
Vertical Outlook (Revenue, USD Billion; 2017–2027)
BFSI
Telecom & IT
Healthcare & Life Science
Manufacturing
Media & Entertainment
Automotive
Other
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Emergen Research
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