Tokyo, Japan, May 11, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Mobile AI Market By Offering, By Type, By Technology, By Application - Forecast to 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 24.25% to attain a valuation of around USD 80.5 Billion by the end of 2030.
Mobile devices make it easier to access information and services by using email, online, applications, and multimedia features, whereas artificial intelligence builds a system that can execute activities and functions similar to people by employing algorithms and cognitive functions. By combining the two, the mobile phone is able to expand its capabilities beyond its basic features by improving its computational capacity. Mobile phones are growing quicker, better, cheaper, and more reliable all the time. As a result, the smartphone has become a widely used consumer electronic gadget, which, when combined with AI capabilities, improves the user experience.
Algorithms employ a significant quantity of data to develop and train AI models, which allows mobile phones to predict user behaviour and take appropriate actions on their behalf. AI chipsets are being utilised to boost mobile devices' computing capability and enable them to run AI-enabled applications.
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The growing demand for on-device AI processing is propelling the mobile AI market forward. AI-enabled CPUs let mobile devices process machine learning tasks more efficiently, increase performance, and incorporate energy-saving features that improve the user experience. As a result, demand for on-device AI processing has increased.
Apple's A11 Bionic processor, for example, is an AI-enabled chip with a neural engine that is used in their current iPhone X, adding a high accuracy facial locking function for mobile security. Investments in on-device AI enabled processors are increasing, which supports improved methods for developing deep learning systems. The growing popularity of mobile AI applications is also propelling the mobile AI market forward. The mobile apps are built using AI algorithms that are used in almost everything a user does – buying a product, communicating with a virtual assistant on their smartphone, watching a movie, and so on. These programmes can predict what the user will do next and conduct the necessary activities on his behalf, allowing for a more personalised experience for the user.
As a result, demand for mobile AI apps is expanding. However, mobile AI processors are expensive, limiting market growth because these processors can only be used in high-end mobile devices.
Mobile AI Market Key Players
- Apple Inc (US),
- NVIDIA (US),
- Huawei (China),
- Samsung Electronics (South Korea),
- Amazon Inc (US)
- Qualcomm (US),
- Intel Corporation (US),
- IBM Corporation (US),
- Microsoft Corporation (US),
- MediaTek (Taiwan),
- Google Inc (US),
- Graphcore (UK).
Mobile AI Market Report Scope:
| Report Metrics | Details |
| Mobile AI Market Size by 2030 | USD 80.5 Billion |
| Mobile AI Market CAGR during 2022-2030 | 24.25% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The increasing demand for on-device AI processing is driving the growth of mobile AI market |
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Segmentation
The global mobile AI market research focuses on various segments such as mobile platform, application, vertical, and region, and estimates market growth across these sectors.
The market is divided into three segments based on mobile platform: Android, iOS, and Windows.
The market is divided into applications such as virtual assistants, navigation, cameras, chatbots, drones, and others.
The market is divided into verticals such as healthcare, finance, education, travel & tourism, media & entertainment, and others.
During the forecast period of 2018 to 2023, the global market for mobile AI is expected to grow at a rapid pace.
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Regional Analysis
The mobile AI market is geographically segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Because of the huge number of mobile manufacturers present in this region that develop on-device AI processors, Asia-Pacific is predicted to be the fastest expanding market for mobile AI. Furthermore, significant investments in research and development in the field of AI aid in market growth, paving the way for market business expansion opportunities.
North America is likely to dominate the mobile AI market during the forecast period because firms are integrating artificial intelligence into smartphones using various technologies. Furthermore, this region is expected to attract major key players such as NVIDIA Corporation, IBM Corporation, Qualcomm, and others.
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