The blockchain-based AI market is expected to surpass $2,725.2 million in valuation by 2031, with large enterprises expected to drive the demand for blockchain-based AI.

WESTFORD, Mass., July 3, 2024 /PRNewswire/ — According to SkyQuest, the global system Blockchain-based AI Market Its size has been estimated at USD 358.0 million in 2022 and is expected to grow from USD 448.5 million in 2023 to reach USD 2,725.2 million by 2031, with a CAGR of 25.3% during the forecast period (2024-2031).

The integration of new Artificial Intelligence (AI) and Blockchain technologies is leading to the creation of Blockchain AI solutions. The need for increased security and transparency along with the intelligence of AI technology is expected to help boost the growth of the Blockchain AI market in the coming years. The global Blockchain AI market is segmented into component, technology, application, deployment mode, organization size, industry verticals, and region.

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Blockchain AI Market Overview:

Segments covered in The blockchain-based AI market is as follows:

• Component
  • Platforms/Tools and Services

• Technology
  • Machine learning (ML), computer vision, AI-based smart contracts, and natural language processing

• Distribution Method
  • Cloud-based and on-premise

• Application
  • Smart Contracts, Payment & Settlement, Data Security, Data Sharing/Communication, Asset Tracking & Management, Logistics & Supply Chain Management, Business Process Optimization and more

• Vertical Sector
  • BFSI, Telecommunications & IT, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, Automotive & Others

• Organization
  • SMEs and large companies

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Platforms/tools remain essential for the successful implementation of blockchain-based AI solutions

Platforms and tools play a vital role in leveraging the power of Blockchain and AI to create effective blockchain AI solutions. These solutions help facilitate more secure data management and advanced insights can be extracted from the same data using the AI ​​capabilities of blockchain AI platforms. Moreover, the interoperability offered by these blockchain AI platforms/tools will also help this segment generate new opportunities for market players in the future.

Big business’ willingness to invest in blockchain-based AI technologies boosts demand prospects

Large enterprises have a high spending potential compared to small and medium-sized enterprises (SMEs), which is why they are more willing to invest in blockchain AI solutions. The high emphasis of large organizations on improving the security, transparency, and efficiency of their business operations will also drive the demand for blockchain AI in the coming years. This segment is expected to present lucrative opportunities for new and established blockchain AI vendors in the long run. SMBs are also estimated to witness a robust increase in blockchain AI adoption in the coming years as the availability of affordable blockchain AI solutions increases. The implementation of blockchain AI solutions will also help SMBs expand their business scope and compete with the major players in the market.

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Machine learning technology will play a vital role in expanding the blockchain-based AI market

Blockchain-based AI solution providers can focus on using machine learning technology to provide automation through their solutions. Businesses can use this technology to automate different aspects of their operations and all of this can be managed on a secure and transparent Blockchain network. This segment will be highly beneficial for new companies looking to train their new Blockchain-based AI models in the future. Established companies can provide detailed insights through the use of machine learning in the future.

The global blockchain AI market is still in its infancy, which is why both emerging and leading companies have the opportunity to expand their reach equally.

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Who we are:

SkyQuest is an intellectual property focused research and investment bank and technology and asset accelerator. We provide access to technologies, markets and finance across all sectors, namely Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation researchers, entrepreneurs, corporations and investors to leverage external sources of R&D. We also help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach in North America, Europe, ASEAN and Asia Pacific.

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Mr. Jagraj Singh
Skyquest Technology
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Westford,
Massachusetts 01886
United States of America (+1) 351-333-4748
E-mail: [email protected]
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SOURCE SkyQuest Technology

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