The Mobile AI Market size is anticipated to touch USD 10.28 billion at a whopping 29.52% CAGR between 2018- 2023, as per the current Market Research Future (MRFR) analysis. Mobile artificial intelligence or mobile AI makes a smart device cleverer by offering advanced software and hardware for the efficient operation of the device and better decision making. Mobile AI has been made for improved end user functioning as well as surrounding through on-device processing reshaping the experiences of the user. It has wide applications in media and entertainment, travel and tourism, education, finance, healthcare, and others.
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Various factors are propelling the global mobile artificial intelligence market share. According to the recent MRFR report, such factors include high penetration of the internet in developing countries, increase in mobile phone users, advances in technology in mobile phone processors, growing adoption of AI from device manufacturers and application developers for better customer experience, and increasing adoption of cloud-based applications and AI. Additional factors adding market growth include the advent of 4G and 5G, the availability of customization option, increasing research and development activities by key players, growing expansion activities through agreements and strategic partnerships, and increasing mergers and acquisitions among international and regional players.
On the contrary, the high price of AI processors, scarcity of trained experts, and the on-going COVID-19 outbreak may impede the global mobile artificial intelligence market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global mobile artificial intelligence market based on vertical, application, and mobile platforms.
By mobile platform, the global mobile artificial intelligence market is segmented into Windows, iOS, and Android.
By application, the global mobile artificial intelligence market is segmented into drones, chatbots, camera, navigation, virtual assistant, and others.
By vertical, the global mobile artificial intelligence market is segmented into media and entertainment, travel and tourism, education, finance, healthcare, and others.
Based on the region, the global mobile artificial intelligence (AI) market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. The presence of multiple key players, an increase in the manufacturing of AI processors to introduce built-in AI features to smartphones, and the adoption of different advanced technologies are adding to the global mobile artificial intelligence market growth in the region.
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The mobile artificial intelligence market in the APAC region is predicted to have healthy growth over the forecast period. The increasing adoption of mobile AI in China, the huge growth potential of applications like chatbots and virtual assistant, and huge funds being raised in China by AI start-ups to produce AI-processors is adding to the global mobile artificial intelligence market growth in the region. China holds the utmost share in the market.
The global mobile artificial intelligence market in Europe is predicted to have notable growth over the forecast period. Increasing support from the government for AI-startups is adding to the global mobile artificial intelligence market growth in the region.
The mobile artificial intelligence market in the RoW is predicted to have sound growth over the forecast period. The increasing penetration of AI-enabled smartphone that results in the growing use of mobile handsets in enterprises to boost efficiency and productivity is adding to the global mobile artificial intelligence market growth in the region.
Key contenders profiled in the global mobile AI industry report include Graphcore (UK), Google Inc (US), MediaTek (Taiwan), Microsoft Corporation (US), IBM Corporation (US), Intel Corporation (US), Qualcomm (US), Amazon Inc (US), Samsung Electronics (South Korea), Huawei (China), NVIDIA (US), and Apple Inc (US).
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