AI And Blockchain Cloud Services Market By Application (Financial Sector, Consumer Or Industrial Products, Healthcare, Technology, Media, And Telecom, Transportation, Public Sector) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Big Data Analytics and the Growing Need for Increased Computing Power to Ensure AI and Blockchain Cloud Services Market Growth

Globally, the AI and blockchain cloud services market is expected to grow with a CAGR of more than 25% during the forecast period from 2019 to 2027. Since the emergence of big data, various new technologies have been developed that would help in data analysis and effective output generation. AI and blockchain are at the top of these technologies, which mainly follow a protocol for analyzing enormous amounts of data (Big Data) that are generated in various industries and providing significant solutions based on trends and historical information. According to the statistics published by EMC, around 40 Tn gigabytes of data (40 zettabytes) will be generated by the end of 2020. This huge amount of data is expected to drive the demand for AI and blockchain-based tools.

The growing adoption of these advanced tools will gradually generate demand for computational processing capabilities and storage capacities, which will ultimately enhance the usage of cloud services. The combination of AI and blockchain with big data analytics has made it easier to maintain the simplicity and efficiency of industrial operations and enhance transparency in the business process. Based on this large number of companies, they are increasingly investing in AI and blockchain cloud services. These factors are likely to drive the market growth of AI and blockchain cloud services in the coming few years. However, security concerns with respect to cloud technology and a lack of a trained and experienced workforce would restrain the market's growth during the forecast period.

The financial sector is expected to continue dominating the market.

In 2018, the overall market for AI and blockchain cloud services was led by the financial sector segment, which contributed over 35% of the total revenue generated worldwide. The combination of AI and blockchain technology mainly benefits financial transactions in various businesses across the globe. These transactions leverage the current capabilities of the internet and provide advantages to the financial sector. As the financial sector requires the highest level of data security, the adoption of AI and blockchain cloud services can help in storing and preserving highly sensitive patient or personal data like medical notes, insurance records, or personalized recommendations. When used in combination, machine learning helps improve the distribution of blockchain apps and contributes to predicting potential system breaches. Such advantages in the financial sector have enhanced its usage and simultaneously contributed to its growing market size.

Asia Pacific to Register the Fastest Growth

North America dominates the AI and blockchain cloud services market. In 2018, the regional market accounted for nearly 40% of the total revenue generated worldwide. The United States, being a technology hub, holds the maximum market share in North America, as major technology providers such as IBM, Microsoft, and Apple have a strong presence in this region. These companies are heavily investing in the research, development, and marketing of AI and blockchain technologies. Moreover, the growing adoption of cloud-based technologies is also contributing to the growth of this market in North America.

North America is followed by Europe, which has the second highest market share in the global market. However, Asia-Pacific is expected to register maximum growth during the forecast period. Factors such as the growing adoption of advanced technologies, the increasing expansion of international players in the emerging nations of Asia-Pacific, and the increasing number of start-ups are fueling the growth of the AI and blockchain cloud services market in the Asia-Pacific region.

Some of the prominent players operating in the AI and blockchain cloud services market include Synapse AI, CoinGenius, NetObjex, Cyware Labs, VIA, Chainhaus, Verisart, Inc., Finalze, Inc., Wealthblock.AI, AlphaNetworks, Figure Technologies, and Boxspring Media, among others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The AI and Blockchain Cloud Services Market Report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global AI and blockchain cloud services market based on application and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of AI and blockchain cloud services in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for the financial sector segment?
• What are the major trends followed in the AI and blockchain cloud services market across different regions?
• Who are the key AI and blockchain cloud services companies leading the market?
• What are the key strategies adopted by the leading AI and blockchain cloud services companies in the market?

Unique data points of this report

• Statistics on AI and blockchain penetration and spending worldwide
• Recent trends across different regions in terms of the adoption of AI and blockchain cloud services for various vehicles
• Notable developments are going on in the AI and blockchain cloud services industries.
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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