The Business Research Company’s Blockchain AI Global Market Report 2020-30: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, March 30, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Growing investment in blockchain AI technology by enterprises is considered an emerging trend in the market according to blockchain AI market research. Artificial Intelligence refers to the machine that performs intelligent tasks generally performed by humans. Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system. The development of artificial intelligence applied to big data together with the security offered by blockchain technology creates the perfect combination for the management of large databases. Blockchain technology, in particular, has shown immense potential when coupled with machine learning functionality. According to a survey conducted by O'reilly in 2019, 85% of 1,388 organizations are using AI in production. Most companies that were experimenting with using AI are now going ahead and adopting it in their processes. Therefore, investing in blockchain technology by business enterprises plays a major role in the success of the businesses.
Other AI and blockchain industry trends include mergers and acquisitions. In June 2020, NetObjex acquired VitalGrid for an undisclosed amount. The deal will expand NetObjex’s Digital Transformation product and service offerings. NetObjex is an operating platform for digital assets utilizing artificial intelligence, blockchain & IoT with applications in Manufacturing, Supply Chain, Transportation and Smart Cities. VitalGrid provides business technology and management consulting for improving performance, streamlining processes and reducing risk by delivering technology-enabled business innovation.
Major players in the blockchain AI industry are Cyware Labs, Core Scientific, Ai-Blockchain, AlphaNetworks, Bext360, BurstIQ, Neurochain Tech, Figure Technologies, NetObjex, Fetch.ai, Chainhaus, CoinGenius, and Computable.
Read More On The Global Blockchain AI Market Report: https://www.thebusinessresearchcompany.com/report/blockchain-ai-global-market-report
The global blockchain AI market is expected to grow from $232.09 million in 2020 to $297.62 million in 2021 at a compound annual growth rate (CAGR) of 28.23%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $748.8 million in 2025 at a CAGR of 25.93%. North America is the largest region in the blockchain AI market. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the global blockchain AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global blockchain AI market is segmented by technology into computer vision, machine learning (ML), natural language processing (NLP), others, by vertical into BFSI, telecom & IT, healthcare and life science, manufacturing, media & environment, automotive, others, and by application into smart contract, payment, data security, logistics and supply chain management, business process optimization, others.
Blockchain AI Global Market Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides blockchain AI market overview, forecast blockchain AI market size and growth for the whole market, blockchain AI market segments, and geographies, blockchain AI market trends, blockchain AI market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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