Dec 6, 2021

Click here to get the short-term and long-term impact of COVID-19 on this market. The report states that the global market value in 2019 stood at USD 184.6 million and provides the following: Unmatched analysis of the critical factors driving and constraining the market; Actionable research into the key market players and their strategies; A thorough examination of the various market segments; and Extensive and intensive study of the regional developments in the market. Driving Factor Favorable Government Policies for Blockchain-based Transactions to Brighten Market Prospects Many countries around the globe are actively supporting the adoption of blockchain-based financial transactions owing to the security and transparency of this technology. For example, in Australia, transactions and trades conducted through cryptocurrencies have been exempted from paying taxes. The Australian Securities Exchange has also announced its plans to fully deploy blockchain technology in the next two years. In China, the national government openly supports blockchain and AI and has been actively promoting domestic smart contracts and cryptocurrency platforms such as VeChain, TRON, and NEO. Another prominent example for blockchain AI is Japan, where the whole concept of cryptocurrency emerged. A report by Nikkei found that in 2017, around 40% of Bitcoin trading was done in Yen, making Japan one of the leading adopters of blockchain technology powered by AI. The proliferation of such advanced technologies in major world economies is, thus, propelling the blockchain AI market growth. Ask for Customization:  https://www.fortunebusinessinsights.com/enquiry/customization/blockchain-ai-artificial-intelligence-market-104588 North America to Hold an Unassailable Market Position; Asia Pacific to Register Highest CAGR North America, with market size of USD 92.8 million in 2019, is expected to have a commanding lead in the global market owing to the strong presence of large, internationally-renowned technological companies such as Oracle, Google, and Amazon Web Services. These tech behemoths have been spearheading the development and advancement of AI, blockchain, the Internet of Things (IoT), and Big Data technologies, which is a critical factor aiding the dominance of North America. Asia Pacific is expanding its blockchain AI market share on account of the initiation of blockchain projects by governments and private sector entities. In Europe, on the other hand, the increasing presence of AI and blockchain companies and startups is anticipated to bolster the regional market growth. Competitive Landscape Partnerships & Product Launches to be the Core Growth Strategies of Key Players In a bid to gain a decisive competitive edge, prominent players in this market are focusing their energies on launching new products and engaging in partnerships to entrench their market position. The development of next-gen offerings is also enabling companies to diversify their portfolios and further broaden the existing customer base. Industry Developments: August 2020: Fetch.ai and Waves announced a collaboration to conduct joint research & development to boost the multi-chain capacities Fetch. I’s system of autonomous economic agents (AEAs). This partnership will enable Fetch.ai to integrate machine learning with decentralized data systems using the Gravity protocol. August 2020: BurstIQ announced the release of its Burst Chain® User Interface Software Developer Kit. The kit is essentially a set of accelerator tools that empower application developers to speedily deploy blockchain-enabled web applications on the BurstIQ platform. 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