Blockchain AI Market to Exceed $2,346.68 Million by 2031

SkyQuest Technology Consulting Pvt. Ltd.

Westford, USA, May 17, 2024 (GLOBE NEWSWIRE) — SkyQuest plans to Blockchain artificial intelligence market will reach a value of $2,346.68 million by 2031, with a CAGR of 23.6% over the forecast period (2024-2031). The blockchain technology sector has grown due to the growing demand for effective data access and management. At the moment everyone does their work using digital systems and stores most of the information on the Internet, in the cloud, where it will be easily accessible and managed by Blockchain artificial intelligence. This is due to the fact that Blockchain AI cares about content and value, thus making the merger of these two technologies inevitable. When it comes to secure data transfer and storage capabilities, blockchain technology is all you need, but artificial intelligence can use data analytics as well as provide insights into how valuable it is.

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Browse the in-depth summary on “AI Blockchain Market”

• Pages – 197

• Tables – 156

• Figures – 80

Blockchain AI Market Overview:

It is estimated that large enterprises will dominate the global market due to cutting-edge technology in legacy systems

The complex interactions that underpin Blockchain AI’s global market dominance are hidden behind massive enterprise components. The rapid adoption of cutting-edge technologies is hampered by various challenges, including organizational inertia, regulatory constraints and legacy systems, that large organizations must contend with. As a result, a delay in enterprise adoption shapes the market and widens the gap between technological innovation and real-world application, supporting the supremacy of AI Blockchain solutions.

BFSI is the fastest growing company thanks to the increasing adoption of interoperability with existing systems

Banking, Financial Services and Insurance (BFSI), an industry leader in the global blockchain AI market, is known for incorporating current new technologies proactively and adopting them early. BFSI is an ideal sector for blockchain AI implementations given its robust infrastructure and stringent security regulations that require cutting-edge solutions. The continued investment in the development of this sector is supported by its forward-thinking approach, thus strengthening its leading position.

The story continues

Increased Investment in Blockchain Projects Enabling North America to Dominate the Global Internet of Things (IoT) Market

North America held a dominant position in the global blockchain AI market. Key factors contributing to the region’s dominance include increased investment and the number of blockchain projects in the United States and Canada, which have handled approximately 2,000 blockchain transactions. North American governments are also focusing on integrating AI and blockchain-based solutions into the military, airports, civic services, defense and other sectors. Throughout the projection period, Asia-Pacific is likely to grow at the fastest pace. According to CAICT, more than 33,000 registered companies are actively developing blockchain technology and services in China.

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Insight into the blockchain artificial intelligence market

Drivers:

1. Growing convergence between Blockchain and AI technology

2. Increase consumer data spending using blockchain to support market growth

3. AI Blockchain technologies enable data monetization

Restrictions:

1. Uncertainty about regulatory compliance

2. Scalability and performance challenges

3. Limited number of Blockchain AI experts

Prominent Players in the Global Blockchain Artificial Intelligence Market

• Cyware Labs Inc. (United States)

• Alpha Networks (Taiwan)

• Chainhaus (United States)

• NeuroChain (Paris, France)

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

• Core Scientific (United States)

• Fetch.ai (UK)

• BurstIQ, LLC (United States)

• Hannah Systems (United States)

• Bext Holdings Inc. (United States)

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Key questions answered in the global Blockchain AI market report

• What reasons should drive the global Blockchain AI market to an expected double-digit CAGR by 2031?

• How does the combination of blockchain technologies and artificial intelligence meet the digital age’s growing need for efficient data access and management?

• What obstacles stand in the way of the BFSI industry adopting Blockchain AI solutions and how do these obstacles impact the competitive landscape and dominance of the prevailing players?

This report provides the following information:

• Analysis of key drivers (increasing use of data economy solutions, flexibility to design, build, develop and deploy applications as needed, increased adoption of data economy solutions in enterprises and offering synergistic benefits and innovative use of blockchain technology and artificial intelligence), constraints (scalability and performance challenges, public blockchain faces transaction throughput, network latency and congestion, and legal and ethical issues associated with blockchain AI), opportunities (security solutions based on cloud, reducing initial costs and eliminating server maintenance concerns and cloud-based Blockchain AI by improving scalability and are convenient for SMEs) and challenges (decentralization puts the user in full control of their data and maintaining the original ownership of the data) influencing the growth of the blockchain artificial intelligence market.

• Market Penetration: Comprehensive information on product portfolios offered by major players in the blockchain AI market.

• Product Development/Innovation: Detailed insights into upcoming trends, R&D activities, and product launches in the blockchain AI market.

• Market Development: Comprehensive information on profitable emerging regions.

• Market Diversification: Comprehensive information on new products, growing geographies and recent developments in the market.

• Competitive Assessment: In-depth evaluation of market segments, growth strategies, revenue analysis and products of key market players.

Related reports:

Blockchain Market
Blockchain as a service market
Blockchain IoT market
The fintech blockchain market
Blockchain in the manufacturing market

Who we are:

SkyQuest is an intellectual property-focused research and investment bank and a technology and resources accelerator. We provide access to technologies, markets and financing across all sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information and Communication Technologies.

We work closely with innovators, inventors, innovation researchers, entrepreneurs, companies and investors to leverage external sources of research and development. Furthermore, we help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr Jagraj Singh

Skyquest technology

1 Apache way,

Westford,

Massachusetts 01886

United States (+1) 351-333-4748

E-mail: sales@skyquestt.com

Visit our website: https://www.skyquestt.com/

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