Blockchain AI Market is projected to reach USD 211.3 billion in 2029, increasing at 58.9% CAGR during 2022-2029 | Size, Share, Growth & Forecast

Blockchain AI Market was valued at USD 5.2 billion in 2021, and forecast to touch USD 211.3 billion in 2029, growing at a significant higher CAGR of 58.9% from 2022-2029.

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The factors driving the growth of Blockchain AI Market includes increasing use of Blockchain AI platforms by small and medium enterprises for developing payment systems and smart contracts, growing popularity of cryptocurrency around the world, rising demand for Natural Language Processing (NLP) solutions and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Cloud Computing and Internet of Things (IoT) by major companies, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the rising investments by major companies on research and development, increasing application of Blockchain AI solutions across industry verticals such as BSFI, Telecom and Manufacturing and growing population growth rates, are further contributing towards the market growth.

However, growth of the Blockchain AI Market is hindered due to complexities in developing and managing AI Blockchain systems.

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

Based on Deployment Mode, the Cloud segment is estimated to grow at a significant CAGR during the forecast period

Cloud-based blockchain AI solutions are cost-effective, reduces maintenance cost of servers and provides enhanced security, are some of the features pushing growth of the segment.

Based on Industry Verticals, the BFSI segment is projected to grow a robust CAGR over the forecast period

Growing adoption of blockchain technology by some of the major banks such as ALFA Bank, Commonwealth Bank, and JPMorgan Chase & Co., owing to increasing demand for fast transaction settling solutions, is propelling the Blockchain AI market size.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Increasing demand  for AI blockchain solutions by banks, hospitals, and defense forces, growing adoption of advanced technologies by major companies in the United States, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region. 

Key Development

In 2020, Fetch.ai entered in a strategic partnership 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 enhancing the multi-chain capabilities of Fetch.ai's Autonomous Economic Agents (AEA).

Market Segmentation

Segmentation by Component

Platform
Services

Segmentation by Technology

Computer Vision
Machine Learning
Natural Language Processing
Others

Segmentation by Deployment Mode

Cloud
On-premises

Segmentation by Application

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

Segmentation by Industry Vertical

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

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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