The Blockchain AI Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Blockchain AI Global Market Report 2024, 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.
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.
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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
Major companies operating in the blockchain AI market are focused on introducing advanced solutions, such as blockchain-powered data marketplace, to sustain their position in the market. A blockchain-powered data marketplace is a platform that uses blockchain technology to facilitate the secure and transparent exchange of data. For instance, in May 2021, Nokia Corporation, a Finland-based telecommunications company, launched Nokia Data Marketplace as-a-service. It is designed to facilitate secure and trusted data sharing and monetization for businesses and communications service providers (CSPs). It supports federated learning and AI model sharing, enabling collaborative development and application of AI solutions.
The blockchain ai market report table of contents includes:
1. Executive Summary
2.Blockchain AI Market Characteristics
3. Blockchain AI Market Trends And Strategies
4.Blockchain AI Market analysis
5.Blockchain AI Market Size And Growth
6.Blockchain AI Segmentation
7.Blockchain AI Regional And Country Analysis
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27.Blockchain AI Competitive Landscape And Company Profiles
28.Blockchain AI Key Mergers And Acquisitions
29.Blockchain AI Future Outlook and Potential Analysis
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