DUBLIN--(BUSINESS WIRE)--The "Blockchain AI Market by Technology (ML & NLP), Component (Platform/Tools & Services), Deployment Mode, Organization Size, Application (Smart Contracts, Payments, & Asset Tracking), Vertical (BFSI, Automotive, & Media), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global blockchain AI market size is projected to grow from USD 228 Million in 2020 to USD 703 Million by 2025, at a CAGR of 25.3% during the Forecast Period.
By component, services segment to grow at a higher CAGR 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 platform's adoption increases, the demand for these services is expected to grow. 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.
By application, the data security segment to register the highest growth rate during the forecast period
Merging AI with blockchain can not only increase operational efficiency but also ensures a more secure environment. AI helps users understand and analyze the voluminous data; however, there are chances of data hacking or leakage. The AI technology powered by blockchain provides a decentralized database that protects data related to AI, which results in enhanced security and quick and transparent operations. The rapid advancements in technologies have given organizations challenges that are related to data security. Hence, there is significant adoption of data security applications across the globe.
The Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global Blockchain AI market during the forecast period. APAC constitutes major economies, such as China, Japan, and Singapore, which are expected to register high growth rates in the Blockchain AI market. Industries such as financial institutions, healthcare & life sciences, telecom and IT, manufacturing, automotive, media, and entertainment are expected to adopt blockchain AI solutions at the region's highest rate. Companies operating in APAC would benefit from flexible economic conditions, industrialization-motivated policies, political transformation, and the growing digitalization, which is expected to impact the business community significantly.
- Blockchain AI Technologies Enable Data Monetization
- Increasing Demand for Intelligent Virtual Assistants
- Simplification of Processes Along with Transparency, Responsibility, and Immutability
- Limited Number of Blockchain AI Experts
- Uncertain Regulatory and Compliance Environment
- Enhancement in the Acceptance of Cloud-Based Security Solutions
- Increasing Demand for Real-Time Data Analysis, Enhanced Visibility, and Proactive Maintenance
- Growing Number of Partnerships and Acquisitions in the Market
- Decentralization and Data Control to Obstruct the Violation of Privacy
- Improving Operational Efficiency in the Manufacturing Industry
- Core Scientific
- Cyware Labs
- Hannah Systems
- Neurochain Tech
- Synapse AI
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