Blockchain AI Market Size, Share, Trends, Growth and Forecast 2032

Blockchain AI Market Insights

Zion Market Research has published a report on the global Blockchain AI Market, estimating its value at USD 489.3 Million in 2023, with projections indicating that it will reach USD 5316.97 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 26.9% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Blockchain AI Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

Industry Perspective:

The report offers an assessment and analysis of the Blockchain AI market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2019 to 2023 along with a forecast from 2023 to 2032 based on revenue (USD Billion).

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Blockchain AI Market: Overview

Blockchain is a decentralized and distributed ledger that is utilized for storing encoded information. Moreover, AI facilitates analytics as well as decision-making from the information that is garnered. In addition to this, blockchain improves the machine learning ability and helps various firms to generate new financial technologies, thereby helping in expanding business. Apparently, AI and blockchain are integrated by firms to produce insights from the data acquired and thereby expand their business across the globe. Escalating the requirement for data monetization has enhanced the use of blockchain & AI tools by small-scale firms, thereby driving blockchain AI market trends.

North America became a frontier in the global blockchain AI market in 2023, driven by substantial technological advancements and significant investments in research and development. The region hosts numerous leading tech companies and startups pioneering blockchain and AI integration, particularly in sectors like finance, healthcare, and supply chain management. Supportive government policies, robust infrastructure, and a high adoption rate of advanced technologies further bolster market growth. Additionally, North America's strong emphasis on data security and transparency aligns well with the benefits of blockchain AI solutions, ensuring continued leadership in this rapidly evolving market.

Blockchain AI Market Segmental Analysis

Based on the component, the blockchain AI market is segmented into large enterprises and small & medium enterprise. Based on technology, the market is divided into computer vision, machine learning (ML), natural language processing (NLP), and others. Based on deployment, the blockchain AI market is categorized into cloud-based and on-premises.  Based on application, the market is segregated into smart contracts, logistics and supply chain management, payments and settlements, governance, risk, and compliance (GRC) management, and others. Based on end-use, the blockchain AI market is segmented into BFSI, energy & utilities, government, healthcare, and life sciences, manufacturing, telecom, media & entertainment, retail & consumer goods, travel and transportation, financial services and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. 

Analysis by Component 

By 2022, the large enterprises segment will dominate the market and account for more than 67.0% of global revenues. Large enterprises operating in industries such as insurance, finance, healthcare and supply chain are making increasing efforts to digitize their offerings and creating an internal demand for blockchain technology. Major brands such as BBVA, Intesa Sanpaolo, Barclays and HSBC are using blockchain technology to streamline their KYC and financial processes. They have access to sufficient capital and assets to take new technologies introduced to the market.  

The small & medium enterprise segment is expected to grow at the highest CAGR during the forecast period. Small & medium enterprises face challenges in their business scale such as finance, payment processing, and supporting services required for global expansion. Blockchain technology helps them reduce issues in areas of funding and account exchange around. Blockchain-based storage applications enable small businesses to store data more efficiently and cost-effectively, which is driving the demand for blockchain in small businesses. 

Analysis by End-Use 

By 2022, the financial services segment will dominate the market and account for more than 37.0% of global revenues. BFSI uses blockchain technology to process financial transactions in transactions. Blockchain technology provides secure and efficient transactions, thus increasing the demand for the technology in financial services. The technology is expected to be widely adopted in this vertical due to factors such as the growth of cryptocurrencies, greater compatibility with the industry ecosystem, faster transactions, initial coin offerings (ICOs), and cost due to the decrease in the overall cost of ownership. 

The healthcare segment is expected to grow at the highest CAGR during the forecast period. A growing number of regulations to protect consumer data are fueling the rise in the use of blockchain technology in the healthcare market. Governments around the world are implementing stricter regulations to protect consumer information due to increasing incidents of data theft and breaches.

Blockchain AI Market: Growth Dynamics

Large-scale requirement of cloud and IoT technologies is projected to generate new growth avenues for the blockchain AI industry over the assessment period. Apart from this, blockchain AI offers improved data protection, assists in the decision-making process, and facilitates the automation of various businesses.

In addition to this, humungous acceptance of blockchain AI tools in payment systems, telecom, manufacturing, BFSI, healthcare, IT, ITES, automotive, media & entertainment, and banking sectors will carve new growth dimensions for the blockchain AI market over the assessment period.

The rise in the funding of blockchain AI-based ventures in China, the U.S., Germany, the UK, Singapore, Japan, Italy, and France will proliferate the market expansion over the predicted timeline. Furthermore, blockchain AI helps in streamlining online payments, appointment scheduling, id verification, and healthcare record verification.

Blockchain AI Market: Report Scope

North American Blockchain AI Market To Register Highest Growth By 2032

The expansion of the blockchain AI market in the Asia Pacific zone over the assessment period is due to massive investment in blockchain & AI technologies in countries such as Canada and the U.S. in addition to this, the surge in the number of blockchains as well as AI ventures in the region will steer the regional market landscape. Reportedly, the governments in these countries are trying to use blockchain AI tools for improving military operations, airport functionalities, and public utility procedures. The presence of reputed blockchain firms in the U.S. will account notably for regional market size over the ensuing years.

Key Market Players & Competitive Landscape

Key players profiled in the study are 

• Gainfy Foundation
• AlphaNetworks
• Blackbox AI
• Synapse SI
• AI-Blockchain
• BurstIQ
• LLC.

The global Blockchain AIMarket is segmented as follows:

By Technology

• Computer Vision
• Natural Language Processing
• Machine Learning

By Application

• Smart Contracts
• Governance
• Logistics
• Payments & Settlements
• Supply Chain Management

By Deployment

• Cloud-Based
• On-Premise

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa