WESTFORD, MASSACHUSETTS, UNITED STATES, June 14, 2024 /EINPresswire.com/ — Global Blockchain AI Market size was valued 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, at a CAGR of 25.3% during the forecast period (2024-2031).
Blockchain is the technology that is revolutionizing transparency and security in ways people couldn’t imagine in the past. Whereas, artificial intelligence (AI) is testing the bounds of every possible technology in the world. Combine these two and it births a new technology that is capable of achieving some near-impossible feats.
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Widespread adoption of blockchain technology in the BFSI sector and the rising popularity of AI-based tools are also projected to help the Blockchain AI market growth going forward. Growing emphasis on increasing data security and transparency is bolstering the demand for blockchain technology and the adoption of automation is promoting the use of AI. High investments in the integration and development of novel blockchain AI solutions across multiple industry verticals is also slated to uplift demand outlook over the coming years.
AI-Enabled Blockchain Platforms to Dominate Market Growth Over the Coming 5 Years
The following are the key Blockchain AI Trends that will shape the growth of the market in the next 5 years
· In April 2024, Lockchain.ai, a leading name in AI-powered risk management, announced the launch of a new AI-powered risk management platform for blockchain applications. This new solution helps businesses and investors secure blockchain ecosystems and reduce incidents of data breaches.
· In May 2024, Eyesecu, a company focusing on revolutionizing blockchain through AI-based in Canada, announced the launch of a new platform to help developers create innovative new AI-powered blockchain solutions. EYESECUAI is a user-friendly platform that helps simplify the complexities of AI and blockchain integration.
The growing use of artificial intelligence technologies in almost all digital solutions will result in the creation of novel blockchain AI solutions. A rising number of companies trying to integrate AI and blockchain technology to get the benefits of both are focusing on developing new AI-powered offerings. The trend is slated to be prominent over a long time to come but is projected to be highly rewarding over the next 5 years for Blockchain AI providers.
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Going Modular is the Move of the Decade for Blockchain AI Companies
· In March 2024, 0G Labs, a web3 infrastructure organization, announced that it had raised USD 35 million in a pre-seed financing round to develop a modular AI blockchain solution.
· In October 2023, Celestia, a new modular blockchain went live as it deployed its mainnet beta. The platform claims to be the first-ever scalable modular blockchain solution with data availability sampling (DAS) technology.
· In May 2024, Play AI, a renowned Web3 gaming and AI start-up, announced that it had raised USD 70 million to build a modular gaming blockchain powered by AI. The company uses blockchain to create a decentralized network for data attribution and training of AI models.
From start-ups to established Blockchain AI companies all are projected to target the modular approach for maximum market growth as people focus on simplifying the use of advanced technologies. Growing emphasis on improving the flexibility and scalability of AI blockchain solutions will also foster new opportunities for companies targeting the development of modular Blockchain AI solutions.
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The scope of business for Blockchain AI companies is endless as there are multiple combinations of blockchain and AI that could be used in various ways. Blockchain AI providers should keep innovating to stay relevant in the market whilst creating simpler solutions to reduce complexity of both technologies.
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Article originally published on www.einpresswire.com as Blockchain AI Market Forecast to Grow at 25.3% CAGR from 2024 to 2031
