Press release
Navigating the Future: Blockchain AI Market 2024 - Size, Demand, and Top Companies Paving the Way to 2033
Blockchain AI Market
The Business Research Company presents an extensive market research report on the Blockchain AI Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The blockchain AI market size has grown exponentially in recent years. It will grow from $0.47 billion in 2023 to $0.58 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to security and transparency in transactions, efficient data management, smart contract adoption, fraud detection and prevention, decentralized autonomous organizations (DAOs).
The blockchain AI market size is expected to see exponential growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to interoperability and standardization, supply chain optimization, tokenization and digital assets, decentralized finance (DeFi) evolution. Major trends in the forecast period include interoperability across blockchain platforms, AI-driven blockchain security solutions, decentralized autonomous organizations (DAOs) for AI governance, AI-enhanced consensus mechanisms, cross-industry applications.
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Key Market Players:
Major companies operating in the blockchain AI market report are Microsoft Corp., IBM Corp., Oracle Corp., AlphaNetworks Inc., Salesforce Inc., Fidelity Information Services LLC, CertiK, Barca Vision, Core Scientific Inc., Hannah Systems, ORS Group, Figure Technologies Inc., SandboxAQ, Plato Technologies Inc., NetObjex Inc., Phlo Systems Ltd., Cyware Labs Pvt. Ltd., Bext Holdings Inc., Neurochain Tech, Fetch.AI, Solidus Labs, Gainfy Healthcare Network, BurstIQ Inc., Token Metrics Media LLC, Blackbird.AI, AnChain.Ai, Verisart Inc., WealthBlock, Petuum Inc., Scifn
Market Drivers:
The growing demand for accessing and managing data efficiently contributed to the growth of the blockchain AI market. Currently, most of the work has become digitalized and is mostly stored on the cloud, which is accessed and managed by blockchain AI. Blockchain AI convergence is inevitable because both the technology deal with data and value. Blockchain enables secure storage and sharing of data whereas AI can analyze and generate insights from data to generate value. For instance, Gainify is a healthcare platform that leverages AI, IoT devices, and blockchain and facilitates different tasks such as streamlining appointment scheduling, digital payments, identity verification, medical records management and others. It also allows the monetization of anonymous clinical data through a crypto payment system. The benefits of the deployment of blockchain AI in the process increased its demand and thereby contributed to the blockchain AI market growth.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/blockchain-global-market-report
The blockchain AI market covered in this report is segmented -
1) By Technology: Computer Vision, Machine Learning (ML), Natural Language Processing (NLP), Other Technologies
2) By Vertical: BFSI, Telecom & IT, Healthcare and Life science, Manufacturing, Media & Environment, Automotive, Other Verticals
3) By Application: Smart Contract, Payment, Data Security, Logistics and supply chain management, Business process optimization, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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