USD 13.4 billion
Report ID:
SQMIG45A2310 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
70
|Figures:
75
Global Mobile Artificial Intelligence (AI) Market size was valued at USD 13.4 billion in 2022 and is poised to grow from USD 17 billion in 2023 to USD 114.36 billion by 2031, growing at a CAGR of 26.9% in the forecast period (2024-2031).
The growing popularity of edge computing is expected to offer possibilities for the mobile artificial intelligence (AI) industry. AI initiatives have changed in companies around the world. As more and more projects are being developed across companies, cloud computing has become an integral part of AI development. With consumers spending more time on their smartphones, businesses are increasingly recognizing the need for critical computing on a device. That’s why edge computing will continue to evolve over the next few years.
Growing cognitive computing and increasing AI applications are driving the market. With technologies like AI and ML, cognitive computing systems can look at large amounts of data, gain insights, and use those insights to learn and improve Insights solutions.
Artificial intelligence (AI) has permeated the IT industry and disrupted various end-user industries around the world. AI has made incredible progress for businesses and their customers. With the emergence of technological advances such as virtual assistants, self-driving cars and chatbots, AI is expected to disrupt the way mobile devices are used.
Global Market Size
USD 13.4 billion
Largest Segment
Smartphones
Fastest Growth
AR/VR
Growth Rate
26.9% CAGR
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The global mobile artificial intelligence (AI) market is segmented based on technology node, application, component, and region. In terms of technology node, the market is bifurcated into 20–28nm, 10nm, 7nm, and others. Based on application, the market is divided into smartphones, cameras, drones, automotive, robotics, AR/VR, and others. Based on components, the market is segmented into hardware, software, and services. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Component
The hardware segment is the dominating segment in the global mobile artificial intelligence (AI) market share across the forecast period. High use of advanced AI chips for mobile artificial intelligence (AI) applications and growing integration of AI hardware in mobile devices are all contributing to the dominance of this segment.
The services segment is the fastest growing in the market. Meanwhile, the demand for mobile artificial intelligence (AI) services is projected to increase at a rapid pace over the coming years. Increasing use of mobile AI applications is projected to boost the demand for services for the same over the coming years.
Analysis by Application
The smartphone segment dominated the market and accounted for over 36.97% of the global revenue by 2022. The rapid growth of smartphones across the globe is fueling market growth. Several remarkable industries in manufacturing, transportation and video games are powered by artificial intelligence. AI in smartphones plays an important role and extends beyond digital assistants and other features. With the advent of edge-AI technology, many of the backend AI capabilities for profiling can now be transferred to the phone itself, accelerating market expansion.
Popular interest in virtual augmented reality has increased recently with the rise of VR technology and smartphone-based devices. Virtual reality (VR) is a relatively new technology. Virtual reality technologies, such as VR technologies with gaming training, simulation, and smartphone technologies, can be dynamically duplicated by computer hardware, software, and technologies VR can also be used in applications such as IoT, crypto chips, home systems, Industry 4.0. This approach can benefit from the use of AI algorithms. Preventing security threats requires high levels of resource integrity and node privacy, and AI can provide solutions, especially when used in gaming activities to drive market growth.
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North America is estimated to account for the leading share of global revenue of 30.8% by 2022. Moreover, with the expansion of several market players in the countries in this region will be able to lead in technology adoption with mobiles. Artificial intelligence and Internet of Things are gaining popularity in many industries, and intelligent automation technologies are on the rise greater thus the need for greater use of mobile AI in the region.
Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Significant automotive electronics and semiconductor industry in China and Japan, along with manufacturing companies hold great promise for APAC for technologies such as mobile phones, industrial robotics and automotive driving the expansion of the market. Smartphone usage using Al processors is expected to increase in Asia-Pacific in the coming years due to the increasing popularity of smartphones in countries such as China, Japan, India and South Korea.
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Mobile Artificial Intelligence (AI) Market Drivers
Growing Demand for AI-powered Applications
Rise in the Expansion of 5G Technology
Restraints
Increased Development Costs
Data Privacy Issues
Limited Use of Power
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The Mobile Artificial Intelligence (AI) market is characterized by a dynamic competitive environment, with rapid technological advancements and strategic collaboration among key players. Leading technology companies, industries with a focus on AI and semiconductor manufacturers are actively contributing to market growth and innovation. Apple uses its proprietary combination of AI hardware and software to enhance its product offerings. The company focuses on in-house chip development such as the A-series and M1 chips to enhance AI performance in its devices. Apple’s introduction of the Neural Engine in its A11 Bionic chip significantly improved machine learning, enabling features like Face ID.
Mobile Artificial Intelligence (AI) Market Top Player’s Company Profiles
Mobile Artificial Intelligence (AI) Market Recent Developments
In January 2024, Samsung, a leading South Korean consumer electronics company, announced the launch of Galaxy AI with its new flagship smartphone series S24. This new mobile AI service offered by Samsung will help its users navigate daily tasks in a much more efficient manner.
In April 2024, Adobe, a leading software company based in the United States, launched a new mobile app that uses generative AI to create content. Adobe Express mobile application can design and share social media posts.
In April 2024, Motorola, a renowned consumer electronics provider, announced the launch of its first AI-capable smartphone. Motorola Edge 50 Pro is powered by Snapdragon 7 Gen 3 SoC.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapid advancements in AI technology and growing demand for on-device AI solutions are projected to bolster the demand for mobile artificial intelligence (AI) over the coming years. However, compatibility issues and security concerns impede mobile artificial intelligence (AI) adoption across the forecast period. Rapid adoption of advanced technologies and presence of key mobile artificial intelligence (AI) companies allows North America to account for a dominant market share. Mobile artificial intelligence (AI) market players should focus on providing personalized mobile artificial intelligence (AI) applications and services to stand out from the competition in the future.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.4 billion |
Market size value in 2031 | USD 114.36 billion |
Growth Rate | 26.9% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Mobile Artificial Intelligence (AI) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Artificial Intelligence (AI) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Artificial Intelligence (AI) Market:
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Report ID: SQMIG45A2310