Global Blockchain AI Market
The GMI Research forecasts that the Blockchain AI Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the strong demand for cloud-based services among the organizations, continuous innovation in the bitcoin transaction, and increasing awareness regarding the various benefits offered by blockchain, like verification with no dependency on the third party and records the transactions in chronological order.
Introduction of the Blockchain AI Market
Blockchain and artificial intelligence are integrated to improve the potential of machine learning and to upgrade the secure storage and data sharing. Artificial intelligence implies machines that are built to perform intelligent tasks traditionally been accomplished by humans. Blockchain AI helps to track, understand, analyse, and generate insights from data to produce value for organizations in various sectors including healthcare, banking, manufacturing, energy, and entertainment.
Key Players of the Global Blockchain AI Market:
- Digital Asset Holdings, LLC
- Bitfury Group Limited
- Intel Corporation
- Microsoft
- Cegeka
- IBM Corporation
- Oracle
- Amazon Web Services, Inc
- SAP SE
Blockchain AI Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The ongoing developments in bitcoin transactions, along with the growing awareness towards enormous benefits offered by blockchain like verification without any dependency on the third party, recording transactions in chronological orders are the major drivers contributing to the growth of the global blockchain AI market. Blockchain technology is the most promising technology in the IT domain and has disrupted not only the financial sector operations but also several other sectors, including media, consumer goods, etc. Moreover, the accelerating acquisition of distributed ledger technology (DLT) system based on advanced data analytics adds to the market growth. DLT is a decentralized system mainly used to record transactions with safety mechanisms and advanced data analytics.
The robust demand for cloud-based services, primarily across the organizations, will further fuel the market growth. The blockchain-as-a-Services (BaaS) allows companies to opt for different applications, including security management and enterprise resource management systems. The widespread outbreak of the COVID-19 pandemic has negatively impacted the surging demand of the market by creating various challenges for the market, especially in 2020. The technology has been used for donation tracking, crisis management, public health data surveillance, and other operations. The pandemic situation has temporarily halted various industries, which has hampered market growth.
On the other hand, the huge expenditure involved in the initial stage coupled with large venture capital funds and high investments required to set up the specialized infrastructure and architecture will curb the blockchain AI market size.
Blockchain AI Market Segmentation:
Segmentation by Component:
- Platform
- Services
Segmentation by Provider:
- Application Providers
- Middleware Providers
- Infrastructure Providers
Segmentation by Type:
- Private
- Public
- Hybrid
Segmentation by Organization Size:
- Large Enterprises
- SMEs
Segmentation by Application Area:
- Transportation and Logistics
- Agriculture and Food
- Manufacturing
- Energy and Utilities
- Healthcare and Life Sciences
- Banking and Financial Services
- IT and Telecom
- Retail and eCommerce
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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