Blockchain AI Market
Blockchain AI Market Size, Share & Trends Analysis Report by Component (Software, and Services), by Deployment Model On-Premises, and Cloud), by Technology (Machine Learning (ML), Natural Language Processing (NLP), Computer Vision, and Others), by Application (Payment & Settlement, Data Security, Data Sharing & Communications, Asset Tracking & Management, Logistics and Supply Chain Management, and Others), and by End-User (BFSI, IT & Telecom, Automotive, Manufacturing, Healthcare, and Others) Forecast Period (2024-2031)
Blockchain AI market is anticipated to grow at a CAGR of 24.0% during the forecast period (2024-2031). The blockchain AI market comprises the integration of blockchain (decentralized ledger technology) with AI's (artificial intelligence) data processing, pattern recognition, and decision-making capabilities. The combination results in improved security, transparency, and efficiency when managing data and transactions. The global market growth is driven by rising data security concerns, advancements in AI and blockchain technologies, and the growing adoption of blockchain AI solutions in data-intensive and sensitive sectors such as BFSI and the supply chain among others.
Market Dynamics
Increasing Data Security Concerns
Globally, businesses are facing challenges in addressing the growing issues related to data security. With the increasing frequency of cyberattacks and data breaches, businesses are turning to secure technologies such as blockchain, which is integrated with AI for secured transactions, fraud identification, and risk assessment. Further, industries like healthcare, supply chain, and financial services are progressively depending on blockchain AI technologies to create a secure, automated, and customized data management system. For instance, based on the Global Financial Stability Report of 2024, the financial sector faces a high level of exposure to cyber risks. Over the last twenty years, nearly one-fifth of all reported cyber incidents have impacted the financial industry, with banks being the primary targets, followed by insurers and asset managers. Financial institutions have experienced substantial direct losses, amounting to nearly $12.0 billion from 2004 to 2023 and $2.5 billion from 2020 to 2023. It is noteworthy that financial firms in advanced economies, particularly in the US, have faced a higher frequency of cyber incidents compared to those in emerging markets and developing economies.
Growing Innovation in the Blockchain AI Market
The blockchain AI market is currently witnessing a surge in investment and initiatives aimed at enhancing and broadening the scope of the technology. Over the past few years, the market has seen advancements like smart contracts, which have found extensive use in the financial industry for the secure and automated execution of legal agreements. Moreover, the development of concepts such as decentralized autonomous organizations (DAOs) is underway, with the potential to transform governance frameworks through decentralized decision-making and operations. For instance, in April 2024, Bunzz introduced "Bunzz Audit," a smart contract auditing service powered by AI that provides quick and cost-efficient audits along with actionable suggestions for enhancing security. The service scans contracts from more than 100 angles using AI and a comprehensive database to ensure thoroughness.
Segmental Outlook
- Based on components, the market is segmented into software and services.
- Based on the deployment model, the market is segmented into on-premises and cloud.
- Based on technology, the market is segmented into machine learning (ML), natural language processing (NLP), computer vision, and other (context-aware computing).
- Based on application, the market is segmented into payment & settlement, data security, data sharing & communications, asset tracking & management, logistics and supply chain management, and others (smart contracts, business process optimization).
- Based on end-user, the market is segmented into BFSI, IT & telecom, automotive, manufacturing, healthcare, and others (media & entertainment, and education).
Cloud is the Preferred Deployment Model Segment
The cloud-based deployment model is preferred in the blockchain AI market owing to its scalability, accessibility, and cost-effective features. The segmental growth factors include the technological compatibility for rapid deployment and scalability of blockchain AI solutions globally, smooth integration with existing IT infrastructure, and accommodation of the increasing volume of data generated from AI-driven applications across diverse industries. For instance, in April 2024, Lockchain.ai announced the inauguration of a risk management platform for blockchain assets globally, utilizing generative AI to equip traders and asset managers with the essential intelligence needed to analyze portfolio risks consistently and instantly.
BFSI Holds Major Share Based on End-User
The BFSI (banking, financial services, and insurance) sector dominates the end-user segment of the blockchain AI market owing to its critical significance in enhancing security, transparency, and efficiency while handling financial transactions and sensitive data. The segmental growth factors include the overall sector's efforts to reduce operational costs through automation, mitigation of fraud and enhancement in risk assessment, the introduction of novel blockchain AI-based offerings such as AI-based smart contract audits, and the highest exposure to data breaches. For instance, according to the Financial Stability Report 2024, the financial sector is highly exposed to cyber risks, with nearly one-fifth of all incidents affecting financial firms.
Regional Outlook
The global blockchain AI market is segmented based on geography including North America (the US, and Canada), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia-Pacific), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Blockchain AI Market Growth by Region 2024-2031
North America Dominates the Global Blockchain AI Market
North America holds major share in the global market attributed to the increasing investment in the development and integration of blockchain and AI technologies across sectors, substantial support from state-run organizations to promote corporate data security in the region, a higher level of regional exposure to data breaches, a faster adoption rate for novel technology integration, and the availability of advanced technological infrastructure relating to edge computing, AI, and blockchain. According to the Identity Theft Resource Center (ITRC) Data Breach Report, the US saw a record-breaking number of data compromises in 2023. The total number of data breaches, exposures, leaks, and unspecified events reached 3,205, impacting an estimated 353,027,892 victims. This represents a 78.0% increase over the previous year and a 72.0% hike from the previous all-time high number of compromises (1,860) set in 2021.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global blockchain AI market include Burst IQ, LLC, Figures Technologies, Inc., and SingularityNET among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in February 2024, Deutsche Telekom recently revealed a partnership with the UK AI startup Fetch.ai to advance innovative AI and blockchain technologies. Becoming a key corporate ally of the Fetch.ai Foundation, Deutsche Telekom is teaming up with Bosch and Fetch.ai to back an accessible AI and blockchain platform. Additionally, its subsidiary, Deutsche Telekom MMS, will play a role as a validator on the decentralized Fetch.ai network, contributing to the security of blockchain transactions.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global blockchain AI market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industry Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Burst IQ, LLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Figures Technologies, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. SingularityNET
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Blockchain AI Market by Component
4.1.1. Software
4.1.2. Services
4.2. Global Blockchain AI Market by Deployment Model
4.2.1. On-Premises
4.2.2. Cloud
4.3. Global Blockchain AI Market by Technology
4.3.1. Machine Learning (ML)
4.3.2. Natural Language Processing (NLP)
4.3.3. Computer Vision
4.3.4. Others (Context-Aware Computing)
4.4. Global Blockchain AI Market by Application
4.4.1. Payment & Settlement
4.4.2. Data Security
4.4.3. Data Sharing & Communications
4.4.4. Asset Tracking & Management
4.4.5. Logistics and supply chain management
4.4.6. Others (Smart Contracts, Business Process Optimization)
4.5. Global Blockchain AI Market by End-User
4.5.1. BFSI
4.5.2. IT & Telecom
4.5.3. Automotive
4.5.4. Manufacturing
4.5.5. Healthcare
4.5.6. Others (Media & Entertainment, Education)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Aergo
6.2. Bext Holdings Inc.
6.3. Blackbird.ai (SocialTrendly, Inc.)
6.4. Cindicator Ltd.
6.5. Cyware Labs, Inc.
6.6. Core Scientific, Inc.
6.7. Constellation Networks, Inc.
6.8. DeepBrain Chain
6.9. Fetch.ai
6.10. MATRIX Foundation
6.11. NetObjex
6.12. NeuroChain tech
6.13. Numerai
6.14. RapidInnovation
6.15. Scifn
6.16. Via Science, Inc.
6.17. Verisart Inc.
6.18. VYTALYX LTD.
1. Global Blockchain AI Market Research and Analysis by Component, 2023-2031 ($ Million)
2. Global Blockchain AI Software Market Research and Analysis by Region, 2023-2031 ($ Million)
3. Global Blockchain AI Service Market Research and Analysis by Region, 2023-2031 ($ Million)
4. Global Blockchain AI Market Research and Analysis by Deployment Model, 2023-2031 ($ Million)
5. Global On-Premise Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
6. Global Cloud-Based Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
7. Global Blockchain AI Market Research and Analysis by Technology, 2023-2031 ($ Million)
8. Global Machine Learning (ML) Based Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
9. Global Natural Language Processing (NLP) Based Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
10. Global Computer Vision-Based Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
11. Global Other Technology-Based Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
12. Global Blockchain AI Market Research and Analysis by Application, 2023-2031 ($ Million)
13. Global Blockchain AI in Payment & Settlement Market Research and Analysis by Region, 2023-2031 ($ Million)
14. Global Based Blockchain AI in Data Security Market Research and Analysis by Region, 2023-2031 ($ Million)
15. Global Blockchain AI in Data Sharing & Communications Market Research and Analysis by Region, 2023-2031 ($ Million)
16. Global Blockchain AI Asset Tracking & Management Market Research and Analysis by Region, 2023-2031 ($ Million)
17. Global Blockchain AI in Logistics and Supply Chain Management Market Research and Analysis by Region, 2023-2031 ($ Million)
18. Global Blockchain AI in Other Application Market Research and Analysis by Region, 2023-2031 ($ Million)
19. Global Blockchain AI Market Research and Analysis by End-User, 2023-2031 ($ Million)
20. Global Blockchain AI for BFSI Market Research and Analysis by Region, 2023-2031 ($ Million)
21. Global Blockchain AI for IT & Telecom Market Research and Analysis by Region, 2023-2031 ($ Million)
22. Global Blockchain AI for Automotive Market Research and Analysis by Region, 2023-2031 ($ Million)
23. Global Blockchain AI for Manufacturing Market Research and Analysis by Region, 2023-2031 ($ Million)
24. Global Blockchain AI for Healthcare Market Research and Analysis by Region, 2023-2031 ($ Million)
25. Global Blockchain AI for Other End-User Market Research and Analysis by Region, 2023-2031 ($ Million)
26. Global Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
27. North American Blockchain AI Market Research and Analysis by Country, 2023-2031 ($ Million)
28. North American Blockchain AI Market Research and Analysis by Component, 2023-2031 ($ Million)
29. North American Blockchain AI Market Research and Analysis by Deployment Model, 2023-2031 ($ Million)
30. North American Blockchain AI Market Research and Analysis by Technology, 2023-2031 ($ Million)
31. North American Blockchain AI Market Research and Analysis by Application, 2023-2031 ($ Million)
32. North American Blockchain AI Market Research and Analysis by End-User, 2023-2031 ($ Million)
33. European Blockchain AI Market Research and Analysis by Country, 2023-2031 ($ Million)
34. European Blockchain AI Market Research and Analysis by Component, 2023-2031 ($ Million)
35. European Blockchain AI Market Research and Analysis by Deployment Model, 2023-2031 ($ Million)
36. European Blockchain AI Market Research and Analysis by Technology, 2023-2031 ($ Million)
37. European Blockchain AI Market Research and Analysis by Application, 2023-2031 ($ Million)
38. European Blockchain AI Market Research and Analysis by End-User, 2023-2031 ($ Million)
39. Asia-Pacific Blockchain AI Market Research and Analysis by Country, 2023-2031 ($ Million)
40. Asia-Pacific Blockchain AI Market Research and Analysis by Component, 2023-2031 ($ Million)
41. Asia-Pacific Blockchain AI Market Research and Analysis by Deployment Model, 2023-2031 ($ Million)
42. Asia-Pacific Blockchain AI Market Research and Analysis by Technology, 2023-2031 ($ Million)
43. Asia-Pacific Blockchain AI Market Research and Analysis by Application, 2023-2031 ($ Million)
44. Asia-Pacific Blockchain AI Market Research and Analysis by End-User, 2023-2031 ($ Million)
45. Rest of The World Blockchain AI Market Research and Analysis by Region, 2023-2031 ($ Million)
46. Rest of The World Blockchain AI Market Research and Analysis by Component, 2023-2031 ($ Million)
47. Rest of The World Blockchain AI Market Research and Analysis by Deployment Model, 2023-2031 ($ Million)
48. Rest of The World Blockchain AI Market Research and Analysis by Technology, 2023-2031 ($ Million)
49. Rest of The World Blockchain AI Market Research and Analysis by Application, 2023-2031 ($ Million)
50. Rest of The World Blockchain AI Market Research and Analysis by End-User, 2023-2031 ($ Million)
1. Global Blockchain AI Market Share by Component, 2023 Vs 2031 (%)
2. Global Blockchain AI Software Market Share by Region, 2023 Vs 2031 (%)
3. Global Blockchain AI Service Market Share by Region, 2023 Vs 2031 (%)
4. Global Blockchain AI Market Share by Deployment Model, 2023 Vs 2031 (%)
5. Global On-Premise Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
6. Global Cloud-Based Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
7. Global Blockchain AI Market Share by Technology, 2023 Vs 2031 (%)
8. Global Machine Learning (ML) Based Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
9. Global Natural Language Processing (NLP) Based Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
10. Global Computer Vision-Based Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
11. Global Other Technology-Based Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
12. Global Blockchain AI Market Share by Application, 2023 Vs 2031 (%)
13. Global Blockchain AI in Payment & Settlement Market Share by Region, 2023 Vs 2031 (%)
14. Global Blockchain AI in Data Security Market Share by Region, 2023 Vs 2031 (%)
15. Global Blockchain AI in Asset Tracking & Management Market Share by Region, 2023 Vs 2031 (%)
16. Global Blockchain AI in Logistics and Supply Chain Management Market Share by Region, 2023 Vs 2031 (%)
17. Global Blockchain AI in Other Application Market Share by Region, 2023 Vs 2031 (%)
18. Global Blockchain AI Market Share by End-User, 2023 Vs 2031 (%)
19. Global Blockchain AI for BFSI Market Share by Region, 2023 Vs 2031 (%)
20. Global Blockchain AI for IT & Telecom Market Share by Region, 2023 Vs 2031 (%)
21. Global Blockchain AI for Automotive Market Share by Region, 2023 Vs 2031 (%)
22. Global Blockchain AI for Healthcare Market Share by Region, 2023 Vs 2031 (%)
23. Global Blockchain AI for Other End-User Market Share by Region, 2023 Vs 2031 (%)
24. Global Blockchain AI Market Share by Region, 2023 Vs 2031 (%)
25. US Blockchain AI Market Size, 2023-2031 ($ Million)
26. Canada Blockchain AI Market Size, 2023-2031 ($ Million)
27. UK Blockchain AI Market Size, 2023-2031 ($ Million)
28. France Blockchain AI Market Size, 2023-2031 ($ Million)
29. Germany Blockchain AI Market Size, 2023-2031 ($ Million)
30. Italy Blockchain AI Market Size, 2023-2031 ($ Million)
31. Spain Blockchain AI Market Size, 2023-2031 ($ Million)
32. Rest of Europe Blockchain AI Market Size, 2023-2031 ($ Million)
33. India Blockchain AI Market Size, 2023-2031 ($ Million)
34. China Blockchain AI Market Size, 2023-2031 ($ Million)
35. Japan Blockchain AI Market Size, 2023-2031 ($ Million)
36. South Korea Blockchain AI Market Size, 2023-2031 ($ Million)
37. Rest of Asia-Pacific Blockchain AI Market Size, 2023-2031 ($ Million)
38. Latin America Blockchain AI Market Size, 2023-2031 ($ Million)
39. Middle East And Africa Blockchain AI Market Size, 2023-2031 ($ Million)
