A Boom in Global Blockchain AI Market: Will Reach $US 2.8 Billion by 2032

The global Blockchain AI market will see flourishing growth in the future. The AI technology used in every field is growing and the blockchain market is now merging with this technology which improves its functionality.

The recent analysis report shows that the Global blockchain AI market is expected to reach a growth of USD 358 million in 2022 and is expected to reach a growth of USD 2.8 Billion in 2032 with a 22.9% CAGR(Compound Annual Growth Rate) from 2022 to 2032.

Many business sectors including health, finance, and banking adopt blockchain AI systems.

Impact of Different Sectors and Countries in the Growth of Blockchain AI Market

The various components lead to the growth of the Blockchain AI market. A country like North America has the largest contribution to the growth of the market. The country is using many AI-based blockchain solutions in various sectors. The total of $US917.7 Million alone comes from North America.

Europe is the second largest, contributing $US123.5 Mn in the market share. The main sectors are media, automotive, ITC, and others adopting the blockchain AI market.

The various countries’ governments plan to make their country more tech-friendly and invest more in this technology. Countries like China, Japan, and South Korea are emerging countries that drive the growth of the market.

The big blockchain AI companies including Core Scientific, Burst IQ, Alpha Networks, Cyware, and NeuroChain are making big changes in the market and investing a large amount of money in them.

BurstIQ, LLC is building the BustChain User Interface Software Developer Kit (SDK) to provide improved solutions and services on its platform.

Many Small and Mid Size Enterprises (SMEs) are jumping into blockchain AI technology to improve their functions like smart contracts and payment systems, which fuel the growth in the market.

The service sector’s contribution to the market growth is growing due to many financial and enterprises taking support of Blockchain AI services for safe transactions models, support & maintenance, and many others that boost the blockchain AI market growth. It’ll grow at a CAGR of 21.3% during the forecast period.

In today’s tech world cloud applications provide swift solutions and services, and build blockchain applications based on AI. Its contribution is a CAGR of 20.6% in the forecast period.

The Future Growth and Challenges of Blockchain AI Technology

The future world of crypto will be going to be dominated by AI. Now blockchain and AI are merging to enhance the efficiency of blockchain systems.

The AI-based NLP language and Blockchain are used for data security and it increases transparency. It is widely incorporated in the healthcare sectors, for example in September 2019, Zensar Technologies LTD. launched its blockchain-based management solutions DICES( Distributed intelligent contract enforcement system) and ZenConfluence is used by many organizations. It solves the financial transactions problem.

No doubt that blockchain AI technology will expand in the market but the complexity of AI and lack of expertise in this field cause many business players to invest less in this field. It’ll hamper the growth of the market.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing