Blockchain AI Market to Reach USD 973.6 Million by 2027, Exhibiting CAGR of 23.6%

Strategic Insights -

The global Blockchain AI market is witnessing unprecedented growth, driven by the increasing adoption of Blockchain solutions enabled by artificial intelligence (AI) to combat the COVID-19 pandemic. International and regional agencies are leveraging the capabilities of Blockchain AI to efficiently collect, analyze, store, and monitor data related to the coronavirus. For instance, the World Health Organization (WHO) has partnered with IBM, Microsoft, Oracle, and the enterprise Blockchain platform HACER to build a distributed ledger technology (DLT) called MiPasa. Private companies are also developing data-driven solutions to track the coronavirus, such as Acoer's Coronavirus Hash Log dashboard. This integration of AI and Blockchain is bolstering the global fight against COVID-19 and driving market growth.

Key Takeaways:

  • The global Blockchain AI market size is projected to reach USD 973.6 million by 2027, exhibiting a CAGR of 23.6%.
  • The increasing adoption of Blockchain solutions enabled by AI is driving market growth, with international and regional agencies leveraging Blockchain AI to combat the COVID-19 pandemic.
  • The World Health Organization (WHO) has partnered with IBM, Microsoft, Oracle, and the enterprise Blockchain platform HACER to build a distributed ledger technology (DLT) called MiPasa.
  • Private companies, such as Acoer, are developing data-driven solutions to track the coronavirus, with Acoer's Coronavirus Hash Log dashboard allowing the public to understand the extent of the virus spread and its trends over time.
  • Fetch.ai and Waves announced a collaboration to conduct joint research & development to boost the multi-chain capacities of Fetch.ai's system of autonomous economic agents (AEAs).
  • BurstIQ released its Burst Chain(r) User Interface Software Developer Kit, which empowers application developers to speedily deploy blockchain-enabled web applications.
  • The market is being driven by the need for efficient and secure collection, analysis, storage, and monitoring of data related to the coronavirus.

Statistics:

  • The global Blockchain AI market size is projected to reach USD 973.6 million by 2027, exhibiting a CAGR of 23.6% during the forecast period.
  • The partnership between the WHO, IBM, Microsoft, Oracle, and HACER aims to build a DLT called MiPasa to combat the COVID-19 pandemic.
  • Acoer's Coronavirus Hash Log dashboard uses data sourced from the WHO and the CDC to track the coronavirus and its trends.
  • Fetch.ai and Waves partnered in August 2020 to conduct joint research & development to boost the multi-chain capacities of Fetch.ai's system of AEAs.
  • BurstIQ released its Burst Chain(r) User Interface Software Developer Kit in August 2020 to empower application developers to deploy blockchain-enabled web applications.

Sources:

  • Fortune Business Insights, Blockchain AI Market Forecast, 2020-2027
  • Fetch.ai and Waves press release, August 2020
  • BurstIQ press release, August 2020
  • World Health Organization (WHO) press release
  • Acoer press release