Blockchain AI Market to Register 23.6% CAGR till 2027; Rising Uptake of Decentralized AI-based Solutions in the BFSI Industry to Stimulate Market Growth

The global blockchain AI market size is projected to reach USD 973.6 million by 2027 owing to the increasing preference for cloud-based data and network solutions among enterprises, finds Fortune Business Insights™ in its report, titled “Blockchain AI Market Size, Share & COVID-19 Impact Analysis, By Component (Platform and Services), By Technology (Computer Vision, Machine Learning (ML), Natural Language Processing (NLP), and Others), By Deployment (Cloud-based, and On-premise), By Application (Smart Contracts, Logistics, and Supply Chain Management, Payments and Settlements, Governance, Risk, and Compliance Management, and Others), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Entertainment, Retail & Consumer Goods, Travel and Transportation, and Others), and Regional Forecast, 2020-2027”. As per the report, the value of the global market stood at USD 184.6 million in 2019 and the market is expected to showcase a stellar CAGR of 23.6% from 2020 to 2027.

The COVID-19 pandemic has favored the blockchain AI market growth as artificial intelligence (AI) and blockchain are providing the necessary technological support in the fight against the coronavirus. These technologies are enabling efficient management and rapid analysis of the huge volumes of health and economic data being generated from various parts of the world.

Cyware and Cofense to Jointly Develop Anti-Phishing Solutions

Cofense and Cyware announced in September 2020 that the two companies will be forging an alliance to deliver intelligent solutions to counter phishing attacks. The solutions developed by the two companies involve multiple integrations geared towards enabling users to calibrate response in any threat situation as well as accelerate the threat intelligence lifecycle. Combining the expertise and capabilities of both entities, Cofense Intelligence will empower users to integrate high-fidelity phishing threat data verified by human operators with Cyware’s CTIX threat intelligence platform. This integration will enable security experts to automate standard processes and sift out potential threats that have a high probability of occurring.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/blockchain-ai-artificial-intelligence-market-104588

Growing Utilization of AI-driven Blockchain Tools by Governments to Provide Impetus to the Market

Several governments around the globe have been exhibiting an increasing inclination towards utilizing blockchain AI-based technologies to make processes more transparent and secure. For example, in January 2018, the National Research Council of Canada announced the development of an Ethereum blockchain system to share government data with the public and implement government contracts in a more transparent manner. In 2019, the US Department of Health and Human Services invested USD 49 million to build blockchain and AI solutions to reduce costs and operational backlogs. Developing countries in Latin America and Asia Pacific are also framing supportive policies to promote AI- and blockchain-based technologies. In Argentina, for instance, the Accelerator Program of the Ministry of Production and Labor offered USD 50,000 in grants to fund blockchain-specializing startups. These are only a few examples of governments or government bodies in certain parts of the world. The vast potential of blockchain combined with AI is fueling its adoption worldwide and broadening the horizons of this market.

Deepening Relations among Key Players to Make Competition Highly Energetic

Some of the leading players in the market for blockchain AI are looking to deepen and strengthen their existing partnerships with fellow competitors to rapidly advance the development and launch of innovative products. The combined efforts of these collaborating companies are substantially elevating their capabilities to expand their global market footprint, enhance R&D capacities, and diversify revenue streams.

Industry Development:

• February 2020: Ehave, Inc. announced that it will be expanding and widening its partnership with BurstIQ to augment Ehave’s HIPAA- and GDPR-compliant dashboard using blockchain technology. The teaming up with BurstIQ will significantly strengthen Ehave’s capabilities in delivering digital therapeutics and improving patient outcomes.

List of Key Players Profiled in the Market for Blockchain AI:

• Numerai (California, United States)


• Gainfy (New York, United States)


• SocialTrendly, Inc. (BLACKBIRD.AI) (New York, United States)


• Alpha Networks (Taiwan)


• Fetch.ai (Cambridge, England)


• Core Scientific (Washington, United States)


• Figure Technologies (California, United States)


• NeuroChain (Paris, France)


• Hannah Systems (California, United States)


• Chainhaus (New York, United States)


• Bext Holdings Inc. (Bext360) (Colorado, United States)


• NetObjex, Inc. (California, United States)


• Ai-Blockchain (New Jersey, United States)


• Cyware Labs Inc. (New York, United States)


• BurstIQ, LLC (Colorado, United States)

Further Report Findings:

• The computer vision is anticipated to display healthy growth as computer vision tools are being increasingly adopted by governments, the banking and finance sector, and the healthcare industry. In 2019, this segment held a share of 21.9% in the global market and a share of 26.6% in the US market.


• North America is poised to dominate the blockchain AI market share during the forecast period owing to the huge investments made the federal government to incorporate intelligent technologies in public infrastructures. In 2019, the region’s market size stood at USD 92.8 million.

Table of Segmentation