Market Overview:
Artificial intelligence refers to machines that are built to perform intelligent tasks that have traditionally been accomplished by humans. Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system. As there is increasing in the blockchain AI platform’s adoption similarly the demand for these services is expected to rise. The Infosys High Tech practice enables microprocessors, manufacturers, and system-on-chip products to achieve operational efficiencies by leveraging the synergies between AI and the blockchain technologies. Blockchain AI is complex in nature and is difficult to implement as well as manage. It basically requires specific skill sets for developing the technology, which can also restrain the market growth. Along with this, adoption of the cloud-based technology and Internet of Things (IoT) is creating ample amount of opportunities for growth of the market. Growing venture capital funding and rising investments in the Blockchain AI technology are likely to drive the market during the forecast period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Figure Technologies (United States), Cyware Labs (United States), Neurochain Tech (France), SingularityNET (Netherlands), Core Scientific (United States), NetObjex (United States), Fetch.ai (United Kingdom), Chainhaus (United States), Hannah Systems (United States), AlphaNetworks (United States) and Bext360 (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Blockchain AI Market Study:
Figure Technologies (United States), Cyware Labs (United States), Neurochain Tech (France), SingularityNET (Netherlands), Core Scientific (United States), NetObjex (United States), Fetch.ai (United Kingdom), Chainhaus (United States), Hannah Systems (United States), AlphaNetworks (United States) and Bext360 (United States)
Blockchain AI Market Segment Analysis
Scope | Sub-Segments |
---|
Application / End User | Smart Contracts, Payment and settlement, Data Security, Data Sharing/Communication, Asset Tracking and Management, Logistics and supply chain management and Business process optimization |
Deployment Mode | Cloud,On-premises |
Technology | ML,NLP,Context-Aware Computing,Computer Vision |
Component | Platform/Tools,Services |
Influencing Trend:
Increasing demand for intelligent virtual assistants
Market Growth Drivers:
Blockchain AI technologies enable data monetization and Simplification of processes along with transparency, responsibility, and immutability
Challenges:
Decentralization and data control to obstruct the violation of privacy and Improving operational efficiency in the manufacturing industry
Restraints:
Limited number of blockchain AI experts and Uncertain regulatory and compliance environment
Opportunities:
Enhancement in the acceptance of cloud-based security solutions, Increasing demand for real-time data analysis, enhanced visibility, and proactive maintenance and Growing number of partnerships and acquisitions in the market
Some of the other players that are also part of study are Blackbird.AI (United States) and BurstIQ (United States). The Global Blockchain AI market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In August 2020, BurstIQ launched a full developer toolset for blockchain-enabled applications and services
In September 2020, BurstIQ partnered with Tech Mahindra. The partnership is offering both solutions to Tech Mahindra’s extensive network of clients. In addition to solving critical high-cost needs in the area of data integrity and data exchange, both solutions provide a foundation on which Tech Mahindra’s clients can support a broad array of connected services: B2B data exchange, consumer engagement, dynamic consent, and more.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Blockchain AI market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Blockchain AI market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Blockchain AI Developer, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.