PUBLISHER: The Business Research Company | PRODUCT CODE: 1415622
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415622
“Mobile Artificial Intelligence Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile artificial intelligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile artificial intelligence? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The mobile artificial intelligence market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Mobile artificial intelligence (AI) involves the integration of advanced machine learning algorithms and technologies into portable devices like smartphones, tablets, wearables, and similar gadgets. This integration encompasses deploying AI algorithms, models, and features directly on the mobile device or in combination with cloud-based AI services to enhance user experiences, introduce new functionalities, and enhance efficiency.
The primary components of mobile artificial intelligence include hardware, software, and services. Hardware encompasses the physical components and equipment that constitute a computer system or electronic device, facilitating the execution of AI tasks on mobile devices to provide users with intelligent and responsive experiences. Various technology nodes, such as 20-28 nm, 10 nm, 7 nm, and others, are employed in diverse applications like smartphones, robotics, augmented reality (AR), virtual reality (VR), cameras, drones, automotive systems, and more.
The mobile artificial intelligence research report is one of a series of new reports from The Business Research Company that provides mobile artificial intelligence market statistics, including the mobile artificial intelligence global market size, regional shares, competitors with a mobile artificial intelligence market share, detailed mobile artificial intelligence market segments, market trends and opportunities and any further data you may need to thrive in the mobile artificial intelligence. This mobile artificial intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mobile artificial intelligence market size has grown exponentially in recent years. It will grow from $13.63 billion in 2023 to $17.45 billion in 2024 at a compound annual growth rate (CAGR) of 28.0%. The growth in the historic period can be attributed to growing adoption of smartphones and tablets, increasing research and development activities, increasing awareness of the ai-based solutions, growing dependency on iot devices.
The mobile artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $43.22 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to increasing adoption of ai-based solutions across various industries, increasing power of mobile processors, development of new mobile ai software frameworks, growing demand for mobile ai applications. Major trends in the forecast period include ai chipsets, advancements in hardware, ai-powered mobile apps, edge ai, 5g connectivity.
The growing prevalence of smartphones is poised to be a driving force behind the expansion of the mobile artificial intelligence market in the foreseeable future. Smartphones are handheld electronic devices that combine the functionalities of both a mobile phone and a personal computer. They play a pivotal role in the adoption and utilization of mobile artificial intelligence (AI), serving as versatile and potent platforms for various AI-driven capabilities, personalized user experiences, intelligent interactions, and on-the-fly AI processing. As an example, in February 2023, data from Uswitch Limited, a UK-based price comparison and switching service company, revealed a 3.8% increase, equivalent to around 2.6 million connections, in the total number of mobile connections in the UK, reaching 71.8 million. With the UK's population expected to reach 68.3 million by 2025, approximately 95% of these individuals, or around 65 million people, are projected to own smartphones. Consequently, the rising prevalence of smartphones is expected to be a significant catalyst for the growth of the mobile artificial intelligence market.
The rising utilization of drones is poised to drive the growth of the mobile artificial intelligence market in the future. Drones, which are autonomous aerial vehicles controlled remotely or by autonomous technology, are increasingly incorporating mobile artificial intelligence into their operations. This integration enables drones to function more independently, intelligently, and efficiently, allowing them to perform a wide range of tasks across various industries. Mobile artificial intelligence equips drones with real-time data processing capabilities, object recognition, and the ability to make informed decisions. This significantly enhances the versatility and value of drones in numerous applications. For instance, by the end of 2021, the Federal Aviation Administration (FAA) reported that approximately 1.37 million new drone operators had registered with the FAA. Throughout the year 2021, there was an average of around 10,300 new recreational drone owner registrations. As a result, the growing adoption of drones across various industries is a key driver for the mobile artificial intelligence market.
The elevated expenses associated with AI devices and solutions pose a challenge and have the potential to impede the growth of the market during the forecast period. These high costs make it challenging for consumers to access mobile devices equipped with advanced AI capabilities. For instance, in 2023, according to Web FX, a US-based tech company specializing in digital marketing solutions, the cost of custom AI solutions can vary widely, ranging from $6,000 to over $300,000 per solution, while pre-built solutions can be priced anywhere from $0 to $40,000 per year. Moreover, the development of a custom chatbot can begin at $6,000 and extend to nearly $15,000. Therefore, the significant cost associated with AI devices and solutions is acting as a hindrance to the growth of the mobile artificial intelligence (AI) market.
Prominent companies in the mobile artificial intelligence market are embracing innovative technologies such as generative AI to maintain their competitive edge. Generative AI is a specific type of artificial intelligence technology capable of generating various forms of content, including text, images, audio, and synthetic data. As an illustrative example, in April 2023, Sofy, a U.S.-based company specializing in automation solutions for mobile apps, introduced SofySense, a no-code mobile app testing solution powered by generative AI. Generative AI has the potential to create new data based on existing information, while no-code testing solutions enable users to perform software testing without the need for coding. This synergy has the potential to transform mobile app testing by automating the process and enhancing efficiency. SofySense reduces the time required for result analysis and issue identification by generating test cases, eliminating the need for extensive research and test design efforts, and facilitating the seamless transition of test cases into automated tests, bypassing the time-consuming task of creating automation code.
In August 2022, Apple Inc., a technology company headquartered in the United States, completed the acquisition of Xinor AI Inc. for a sum of $200 million. This strategic move by Apple involves the integration of AI technology into its software, enhancing features related to device search and capabilities such as Siri. Xinor AI Inc. is a U.S.-based software development firm that specializes in mobile artificial intelligence.
Major players in the mobile artificial intelligence market are Apple Inc., Google LLC, Samsung Electronics Co Ltd., Microsoft Corporation, Alibaba Group Holding Limited, Tencent Holdings Limited, Amazon Web Services Inc., Intel Corporation, IBM Corporation, LG Electronics Inc., Qualcomm Incorporated, NVIDIA Corporation, Salesforce Inc., Nokia Corporation, MediaTek Inc., Baidu Inc., Cerebras Systems Inc., H2O.ai Inc., Fuzhou Rockchip Electronics Co Ltd., Cambricon Technologies Corporation Ltd., Huawei Technologies Co Ltd., Shanghai Thinkforce Electronic Technology Co Ltd , Blaize Inc., Kneron Inc., Graphcore Ltd., Deephi Technology Co Ltd .
North America was the largest region in the mobile artificial intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in mobile artificial intelligence report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the mobile artificial intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mobile artificial intelligence market consists of revenues earned by entities by providing image enhancement, voice assistants, personalized recommendations, real-time translation, smartphone optimization, virtual assistants and security and fraud detection. The market value includes the value of related goods sold by the service provider or included within the service offering. The mobile artificial intelligence market also includes sales of AI chips, memory and storage and sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.