Blockchain AI Market | Know the Prominent Factors That Will Help in Reshaping the Market Growth

Increase in demand for the amalgamation of blockchain and AI in making an efficient software solution, monetization of data using blockchain technology and advancements in the field of AI and internet of things propel the growth of the global blockchain AI market.

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In addition to this, big data technology solutions are expected to implement data monetization among enterprises. Furthermore, the lack of a skilled workforce and implementation cost is expected to hamper the growth of the market.

However, ease of implementation, growth in demand for blockchain technology, and surge in blockchain AI applications are expected to drive the growth of blockchain AI market during the forecast period.

Company covered in this report are ScienceSoft USA Corporation, Applicature Inc., Ripple Labs Inc., LeewayHertz, Blockchangers, Deqode Solutions, ChromaWay, OpenLedger, Ezetech LLC, LimeChAIn.

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Impact of COVID-19 on Blockchain AI Market-

• Since the COVID-19 virus outbreak in December 2019, this global pandemic has spread in majority of the countries with the World Health Organization declaring it a public health emergency, which has led to downfall of the global economy. The pandemic impacted almost every sector and it is expected to significantly affect the global blockchain AI market as well.

• The internet has played a vital role all around the world as the reliance on online business has increased significantly. People have started gaining knowledge and investing in the technology-related companies. Even venture capitalists and other investors are investing in blockchain AI technology because of its scope in the upcoming years.

Business processes such as logistics & supply chain management and payment & settlements are inclined toward the adoption of the new technology.

Supply chain management takes the lead over the others as the key players are involved in developing blockchain AI interface which is anticipated to help in managing various complicated supply chain management system.

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The growth in the implementation of blockchain AI solutions by various enterprises leads to the growth of the market.

Countries in North America mostly are categorized as developed nations. These nations are open to new technological innovations, and they adopt these technologies very quickly as compared to the rest of the developed countries.

In addition, the government also takes initiatives to implement the latest technology in various sectors like banking, the military, public utilities, and airports.

Furthermore, this region has received huge investments to set up blockchain projects in the countries like USA and Canada, which is projected to drive the growth of the blockchain AI market during the forecast period.

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