CRI Report has released a report titled “Blockchain AI Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 1.3 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 24.4% between 2020 and 2030. According to the report, the adoption of new technology is favored in business processes such as logistics and supply chain management, as well as payment and settlements. Supply chain management takes the lead over the competition because key firms are working on a blockchain AI interface that will aid in the management of many complex supply chain management systems. The market is growing due to the increased adoption of blockchain AI solutions by various businesses.
The market report on global Blockchain AI market includes in-depth insights as:
- The estimated value of the market was USD 279 million in the year 2020.
- Region-wise, the market in APAC, which held the largest market share of XX% in the year 2019, emerged as a key market for Blockchain AI Market.
- Based on industry vertical, BFSI emerged as a key segment in the global Blockchain AI Market.
- Based on deployment, Cloud emerged as a key segment in the global Blockchain AI Market
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Smaller businesses would be able to access AI and advanced blockchain thanks to data monetization. For enterprises that do not control data sets, developing and increasing AI technology is expensive. A decentralized market would make room for such businesses where it would otherwise be prohibitively expensive. As a result, Blockchain AI is the ultimate enabler of data monetization, which is projected to be one of the blockchain AI market’s key driving forces..”, according to this report
Without any automation management and human interaction, Blockchain AI communication allows devices to communicate simply with each other. A wide range of industries including energy and utilities, healthcare, manufacturing, and others benefit from these communication platforms by delivering dependable and cost-effective remote management, connectivity, and hardware communication solutions. Its main means of communication is through machine to machine (M2M), which aids humans in a variety of ways. In order to take advantage of higher coverage and reduced network launch costs for M2M devices, many of them are now using cellular networks. A mobile phone’s dynamic protocol stack, high power consumption, and high cost make machine terminals similar to mobile phones.
Global Blockchain AI market is divided by industry vertical into BFSI, Automotive, & Media. The BFSI sector is focusing on important technologies that help customers secure transactions. Furthermore, by harnessing the potential of both AI and blockchain solutions, the technology change from centralized infrastructure management to a distributed ecosystem is opening the way for new business models in payments, online banking, and financial transaction technologies. As separate solutions, blockchain and AI address different financial concerns, but they may also be used to improve numerous business operations in the financial industry, making it smarter and more effective. As a result, BFSI has the fastest growth rate over the anticipated period.
Key Players in the Market
- Some of the key players operating in the global Blockchain AI market are 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), Finalize (US), Gainfy (US), Hannah Systems (US), LiveEdu (UK), Mobs (US), Other Prominent Players
Get Valuable Insights into Global Blockchain AI Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Blockchain AI market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by deployment model into Cloud and on-premises, by industry vertical into BFSI, Automotive, & Media. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.