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Published on : Dec 28, 2022
The "AI And Blockchain Cloud Services Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
Big Data Analytics and 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 2022 to 2030. Since emergence of Big Data, various new technologies are being developed that would help in data analysis and effective output generation. AI and Blockchain are at the top of these technologies that mainly follow a protocol of analyzing enormous amounts of data (Big Data) that is generated in various industries and providing significant solutions based on trends and historic 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.
Growing adoption of these advanced tools will gradually generate demand for computational processing capabilities and storage capacities, which ultimately enhances the usage of cloud services. 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 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 coming few years. However, security concerns with respect to cloud technology, and lack of trained and experienced workforce would restrain the market growth during the forecast period.
Financial Sector is expected to Continue Dominating the Market
In 2021, the overall AI and Blockchain Cloud Services market was led by the financial sector segment contributing to over 35% of the total revenue generated worldwide. Combination of AI and Blockchain technology mainly benefits the financial transactions in various businesses across the globe. These transactions leverage the current capabilities of internet and provides advantages to the financial sector. As financial sector requires highest data security, adoption of AI and Blockchain cloud services can help in storing and preserving highly sensitive patient/personal data like medical notes, insurance records or personalized recommendations. When used in combination, machine learning helps in improving the distribution of Blockchain apps and contribute in 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 2021, the regional market accounted for nearly 40% of the total revenue generated worldwide. US being technology hub holds maximum market share in the North America as major technology providers such as IBM, Microsoft, and Apple have a strong presence in this region. These companies are highly investing in research and development and marketing of the AI and Blockchain technologies.
Moreover, growing adoption of cloud based technologies is also contributing to the growth of this market in North America. North America is followed by Europe with second highest market share in the global market. However, Asia-Pacific is expected to register maximum growth during the forecast period. Factors such as growing adoption of advanced technologies, increasing expansion of international players in the emerging nations of Asia-pacific, and increasing number of start-ups are fueling the growth of AI and Blockchain cloud services market in Asia-pacific region.
Key questions answered in this report
Key Topics Covered:
2. Executive Summary
3. AI And Blockchain Cloud Services Market: Competitive Analysis
4. AI And Blockchain Cloud Services Market: Macro Analysis & Market Dynamics
5. AI And Blockchain Cloud Services Market: By Application, 2020-2030, USD (Million)
6. North America AI And Blockchain Cloud Services Market, 2020-2030, USD (Million)
7. UK and European Union AI And Blockchain Cloud Services Market, 2020-2030, USD (Million)
8. Asia Pacific AI And Blockchain Cloud Services Market, 2020-2030, USD (Million)
9. Latin America AI And Blockchain Cloud Services Market, 2020-2030, USD (Million)
10. Middle East and Africa AI And Blockchain Cloud Services Market, 2020-2030, USD (Million)
11. Company Profile
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