ID: MRFR/ICT/5315-HCR | February 2021 | Region: Global | 100 pages
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.
The increasing demand for on-device AI processing is driving the growth of mobile AI market. AI-enabled processors help mobile devices to better process machine learning tasks, gain performance, and energy saving features which boost the user experience. This has led to an increase in demand for on-device AI processing. For instance, Apple’s A11 Bionic chip, which is an AI-enabled chip with neural engine used in their latest iPhone X, adding the high accuracy face locking feature for mobile security. The investments for on-device AI enabled processors are increasing, which is supporting advanced algorithms for building deep learning systems. The rising mobile AI application is also driving the mobile AI market towards growth. The mobile apps are build using AI algorithms that are being applied to nearly everything user does — buying a product, interacting with virtual assistant on the smartphone, watching a film and others. These applications can predict what user will do next and take required actions on his behalf which aids in delivering a unique experience to the users. This results in increasing demand for mobile AI applications. However, the mobile AI processors are expensive which restrains the market growth as these processors can only be used in premium mobile devices.
Global Mobile AI Market, 2018-2023 (USD Billion)
Source: MRFR Analysis
The global mobile AI market is expected to generate a market value of USD 10.28 billion by 2023 growing at a 29.52% CAGR during the forecast period 2018–2023
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.
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.
North America is expected to dominate the market of mobile AI during the forecast period since the companies are adopting various technologies to integrate artificial intelligence in the smartphones. Moreover, this region consists of major key players such as NVIDIA Corporation, IBM Corporation, Qualcomm, and others which is expected to drive the growth of mobile AI market in this region.
The prominent players in the mobile AI market are Apple Inc (US), NVIDIA (US), Huawei (China), Samsung Electronics (South Korea), Amazon Inc (US) Qualcomm (US), Intel Corporation (US), IBM Corporation (US), Microsoft Corporation (US), MediaTek (Taiwan), and Google Inc (US), Graphcore (UK).
Frequently Asked Questions (FAQ) :
29.52% is the growth rate that the market is slated to achieve in the coming years.
The market size is anticipated to be USD 10.28 billion by 2023.
The top companies in the global market are Huawei (China), Amazon Inc (US), MediaTek (Taiwan), IBM Corporation (US), Graphcore (UK), Intel Corporation (US), Microsoft Corporation (US), Google Inc (US), Qualcomm (US), Samsung Electronics (South Korea), Apple Inc (US), NVIDIA (US), among others.
Substantial investments in research and development in the AI field and the rising number of mobile manufacturers have led to massive market growth in APAC.
chatbots, camera, virtual assistant, navigation, drones and others are the applications of mobile AI.