Global Mobile AI Market Review, In-Depth Analysis, Research, Forecast to 2025
Market Synopsis
Mobile devices provide convenience in accessing information and services using email, web, apps, and multimedia features while artificial intelligence uses algorithms and cognitive functions to build a system which can perform tasks and functions similar to humans. The combination of both enables the mobile phone to improve its capabilities beyond its basic features by increasing its computational power. Mobile phones are constantly becoming faster, better, cheaper, and reliable. Mobile phone thus has become a widely adopted consumer electronic device, which when integrated with AI capabilities enhances the user experience. Al algorithms use a large amount of data to learn and train the AI models which gives mobile phones, an ability to predict the users’ behavior and take actions accordingly on their behalf. AI chipsets are being used to increase the computational power of mobile devices and make them run AI-enabled applications.
Market Key players
The protruding players in the mobile AI market are listed as NVIDIA (US), Apple Inc (US), Samsung Electronics (South Korea), Huawei (China), Qualcomm (US), Amazon Inc (US), IBM Corporation (US), Intel Corporation (US), MediaTek (Taiwan), Microsoft Corporation (US), and Google Inc (US), Graphcore (UK).
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Market Highlights
Technology is retreating from a growth-at-all-costs, casting aside an approach that has worked for many mobiles AI generating companies but has sputtered in the real world of mobile and artificial intelligence. On this, Market Research Future study being into the spotlight that the global mobile AI market 2020 will be flowing at a healthy growth rate of 29.52% CAGR during the forecast period 2018–2023. Over this period, the market will also be valued at around USD 10.28 billion, with the same growth rate by 2023.
Market Segmentation
Global mobile AI market study aims at different segments such as mobile platform, application, vertical, regions and estimating market growth across these segments
By mobile platform, the market is segmented into Android, iOS, and Windows.
By application, the market is segmented into virtual assistant, navigation, camera, chatbots, drones, and others.
By vertical, the market is segmented into healthcare, finance, education, travel & tourism, media & entertainment, and others.
Regional Ananlysis
The geographical analysis of the global Mobile AI Market has been done for the key regions of North America, Europe, Asia-Pacific, and the rest of the world.
The global market for mobile AI is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of mobile AI market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to be the fastest growing market for mobile AI due to large number of mobile manufacturers present in this region, which manufacture on-device AI processors. Also, the major investments for research and development in the field of AI helps the market to grow, paving the way for business expansion opportunities in the market.
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These applications, in all, can predict anything the user will do next and take necessary actions on his behalf, which helps in delivering a unique experience to the users—all these results in mounting demand for mobile AI applications.
The factor of mobile AI processors being expensive is posing as restraints to the Market growth as these processors can only be used in superior mobile devices.
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