The global Mobile AI is growing rapidly, mainly due to growing AI and hyper-scale computing applications. Besides, the growing integration of AI with the digital flow and custom/analog tool suites drive the market growth. With the proliferation of hyper-scale computing, 5G communications, and smart mobile phones, the market is projected to witness significant gains in the next few years.
In this regard, Market Research Future (MRFR) asserts that the global mobile AI market is expected to reach a valuation of USD 80.5 Billion by 2030, growing at a 24.25% CAGR throughout the review period (2022-2030). Mobile AI is garnering greater opportunities due to its ability to make continuous improvements. Due to the constant development in holographic technology, the application range of mobile AI is getting wider and wider.
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Mobile AI is a subset of artificial intelligence (AI) that focuses on the development and deployment of AI-powered applications on mobile devices, such as smartphones and tablets. It involves the use of machine learning (ML) and deep learning (DL) algorithms to create applications that can perceive, understand, act, and learn. Examples of mobile AI applications include voice assistants, facial recognition, augmented reality, intelligent security systems, and autonomous vehicles. Mobile AI is revolutionizing the way people interact with their devices, creating a more personalized and seamless user experience.
Moreover, the rising automation and digitization worldwide substantiate market revenue. The growing need for digital transformations in various industries escalates the market shares further. The increasing number of AI-based products services and AI-enabled mobile applications boost the market size.
On the other hand, the lack of AI standards and technical expertise are major factors expected to impede market growth. Nevertheless, growing industry competition and focus on business intelligence would support market growth throughout the review period.
Global Mobile AI Market - Segments
The report is segmented into mobile platforms, applications, verticals, and regions. The mobile platform segment is bifurcated into iOS, Android, and Windows. The application segment is bifurcated into virtual assistants, cameras, navigations, chatbots, drones, and others. The vertical segment is bifurcated into finance, healthcare, education, media entertainment, travel tourism, and others.
Global Mobile AI Market - Regional Analysis
North America dominates the global mobile AI market, mainly due to the wide adoption of smartphones. Additionally, the presence of the majority of key players such as NVIDIA, Microsoft, Intel, and Google drives the growth of the regional market.
Increasing RD investments to develop digital transformation and AI technologies foster the region’s market shares. The increasing demand for intelligent virtual assistants in the region boosts the market shares.
Global Mobile AI Market - Competitive Analysis
The mobile AI market appears highly competitive and fragmented, with several well-established players forming a competitive landscape. Payers adopt strategies such as collaborations, mergers acquisitions, and innovations to gain a larger competitive share. They make substantial investments in developing low-cost, compact components, emphasizing improved after sales-services to end-users.
Major Players
Players active in the mobile AI market include NVIDIA (US), Huawei (China), Apple Inc (US), Amazon Inc (US), Qualcomm (US), Samsung Electronics (South Korea), IBM Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Google Inc (US), Graphcore (UK), and MediaTek (Taiwan), among others.
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Industry/Innovation/Related News
Oct.20, 2021 --- Snapdragon showed how AI processing is critical for smartphones and benchmarks. AI or machine learning processing requires for enhancing smartphone experiences. From recommendation engines to translation and computational photography and more mobile AI requires.
The company has resourced RD for its silicon solutions concerning mobile AI and the critical software SDKs and libraries, requiring mobile platform and software ecosystem developers to optimize apps for efficient utilization of mobile platform solutions.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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