The Europe Blockchain AI Market would witness market growth of 23.0% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Blockchain AI Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $158.1 million by 2031. The UK market is exhibiting a CAGR of 22.2% during (2024 - 2031). Additionally, The France market would experience a CAGR of 23.9% during (2024 - 2031).
Blockchain allows AI models to be decentralized, meaning that data can be shared securely and used to train AI models without central authority. This decentralized approach ensures that AI is democratized and not controlled by a single entity, which is important for data privacy, transparency, and fairness. For example, in the healthcare industry, decentralized AI models can be trained on medical data from various hospitals without compromising patient privacy.
In addition, blockchain’s transparency and AI’s predictive analytics can be combined to optimize supply chains. Blockchain ensures that every transaction is logged, making it easier to track goods in real-time, while AI algorithms predict demand fluctuations and optimize logistics. Together, these technologies reduce inefficiencies, improve traceability, and enhance inventory management, all while increasing transaction security.
This can be transformative in this context, providing the EU with secure, transparent, and efficient ways to manage public data and services. As more citizens rely on digital interfaces to interact with public authorities, the need for secure and decentralized data management systems becomes more critical. With AI, blockchain technology can enable secure digital identities, smart contracts for public services, and more efficient data processing, enhancing trust in government operations and public services. As governments across the EU push for digital transformation, this will enable enhanced automation, fraud prevention, and improved service delivery, driving increased adoption of these technologies in the public sector. This shift not only boosts the blockchain AI market but also establishes the EU as a leader in digital governance, setting the stage for the broader integration of AI and blockchain across industries. In conclusion, rising e-government initiatives and plans in the region are driving the growth of the market.
Free Valuable Insights: The Global Blockchain AI Market will Hit USD 2.2 Billion by 2031, at a CAGR of 23.2%
Based on Component, the market is segmented into Platform, and Services. Based on Deployment Mode, the market is segmented into Cloud, and On-premise. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on Technology, the market is segmented into Machine Learning (ML), Computer Vision, Natural Language Processing (NLP), and Other Technologies. Based on Application, the market is segmented into Logistics & Supply Chain Management, Smart Contracts, Payments & Settlements, Governance, Risk, & Compliance Management, and Other Applications. Based on Vertical, the market is segmented into BFSI, Government, Energy & Utilities, Healthcare & Lifesciences, Telecom, Media & Entertainment, Manufacturing, Retail & Consumer Goods, Travel & Transportation, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Component
By Deployment Mode
By Organization Size
By Technology
By Application
By Vertical
By Country
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