The global Blockchain AI Market size is projected to grow from USD 228 million in 2020 to USD 703 million by 2025, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period. The increasing venture capital funding and growing investments in blockchain AI technology to drive market growth.
By component, the service segment to register the highest growth rate during the forecast period
The services segment includes various services required to deploy, execute, and maintain the blockchain AI platform in an organization. These services include technology advisory and consulting, system integration and deployment, and support and maintenance. As the blockchain AI platforms adoption increases, the demand for these services is also expected to increase. The Infosys High Tech practice enables manufacturers, microprocessors, and system-on-chip products to achieve operational efficiencies by leveraging the synergies between AI and blockchain technologies. The services segment has witnessed tremendous growth in recent years. Therefore, the services segment registers the highest growth rate during the forecast period.
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Based on vertical, the BFSI to grow at the highest CAGR during the forecast period
The BFSI segment is focusing on significant technologies, which help secure transactions for customers. In addition, the technology shift from centralized infrastructure management to the distributed ecosystem is paving the way for new business models in payments, internet banking, and financial transaction technologies by leveraging the power of both AI and blockchain solutions. Blockchain and AI solve different financial issues as a standalone solution. Still, they can work together to improve many business processes in the financial industry to make it smarter and perform more effectively. Therefore, BFSI registers the highest growth rate during the forecast period.
Key and innovative vendors in the blockchain AI market include 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), Finalze (US), Gainfy (US), Hannah Systems (US), LiveEdu (UK), Mobs (US), Neurochain Tech (France), Numerai (US), SingularityNET (The Netherlands), Stowk (US), Synapse AI (US), Talla (US), Verisart (US), VIA (US), Vytalyx (US), Wealthblock.AI (US), and Workdone (US).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the Blockchain AI market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2017 to 2020 to innovate their offerings and broaden their customer base.
BurstIQ (US) is a provider of blockchain-enabled data network solutions for the healthcare industry. The company’s private, permissioned data network allows health systems, payers, digital health companies, pharmaceuticals, life science companies, and governments to unlock health-related data’s full potential. BurstIQ created a “Health Wallet,” which combines AI, blockchain, and big data to manage a patient’s data holistically. The Burst IQ wallet gives a patient’s team of healthcare professionals access to their health records and wellness plans. The company has a global presence across the globe.
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Cyware Labs offers a full-stack of innovative cyber fusion solutions for all-source strategic, tactical, technical, and operational threat intelligence sharing and threat response automation. Cyware Lab’s enterprise solutions are designed to promote secure collaboration, inculcate cyber resilience, enhance threat visibility, and deliver needed control by providing organizations with automated context-rich analysis of threats for a proactive response without losing the element of human judgment. The Cyware Situational Awareness Platform (CSAP), for example, uses those tools to power a mobile threat intelligence, secured messaging, and suspicious incident reporting platform. Consequently, users are provided with an in-depth look at their real-time mobile cybersecurity protocols.
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