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 generate a market value of USD 80.5 Billion by 2030 growing at a 24.25% CAGR during the forecast 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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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)
- MediaTek (Taiwan)
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 R&D 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.
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 R&D 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.
Mobile AI Market Industry News:
Google AI Introduces New Mobile AI Platform. Google AI has announced a new mobile AI platform that will make it easier for developers to build and deploy AI-powered applications on mobile devices. The platform includes a number of new features, such as a new Neural Processing Unit (NPU) that can process AI tasks up to 10 times faster than previous generations of NPUs.
Apple Announces New AI Features for iOS 16. Apple has announced a number of new AI features for iOS 16, including a new Live Text feature that can identify text in images and videos, and a new Visual Look Up feature that can identify objects in images and provide more information about them.
Samsung Announces New AI Features for Galaxy S23. Samsung has announced a number of new AI features for the Galaxy S23, including a new AI camera that can automatically adjust camera settings to improve image quality, and a new AI assistant that can help users with tasks such as setting alarms and making appointments.
These are just a few of the latest industry news for the mobile AI market. The mobile AI market is growing rapidly, and there are a number of new and exciting developments happening in the space.
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Here are some of the key trends driving the growth of the mobile AI market:
The increasing popularity of smartphones and other mobile devices. The number of smartphones and other mobile devices in use is growing rapidly, and this is driving the demand for mobile AI applications.
The increasing availability of powerful mobile AI hardware. The development of powerful mobile AI hardware, such as NPUs, is making it possible to run AI applications on mobile devices without the need for a cloud connection.
The growing availability of mobile AI software. There is a growing number of mobile AI software development kits and frameworks available, which makes it easier for developers to build and deploy mobile AI applications.
The mobile AI market is expected to continue to grow rapidly in the coming years. The increasing popularity of mobile devices, the availability of powerful mobile AI hardware and software, and the growing demand for mobile AI applications are all driving factors in the growth of the market.
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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