The global mobile Artificial Intelligence Market is expected to generate revenue of USD 78.8 billion by 2030. The predicted revenue is expected to grow at a CAGR of 13.6%. The driving factors for the mobile AI market include increased smartphone penetration, increased capital investments in AI start-ups, and increased demand for AI in enterprise applications.
One of the key factors driving the mobile artificial intelligence (AI) market growth over the next few years is the increasing demand for edge computing in IoT. Furthermore, increased investment in 5G networks, as well as an increase in mergers and collaborations, will result in significant market demand. It is anticipated that small-sized startups will also contribute highly to the market growth plan and their collaboration with market key players will also positively impact the revenue.
Global Mobile Artificial Intelligence market segments-Analysis and Forecast 2022-2030
Mobile applications and pertinent technologies are the major market segment of the Global Mobile Artificial Intelligence market. However smartphones have dominance over the global mobile AI market but advanced technologies including robotics, automotive, drones, and AR/VR are anticipated to support the market growth during the forecast period. The 20-28nm technology node sector is predicted to expand the quickest in the mobile artificial intelligence industry and processors built on the nodes are attributed to have a key role in the growth plan.
The demand for AI-capable processors in mobile devices is projected to grow during the forecast period and a growing number of AI applications, the increasing involvement of several automotive and IT behemoths in the development of self-driving cars, technological advancements in smartphone image recognition, and the rise of cognitive computing as primary growth drivers participate in the projected period.
Browse the geographical overview of the Global Mobile Artificial Intelligence Market and the dominance of the North American end-user market
The global Mobile AI market is scattered all over the world, although North America, followed by Asia-Pacific, holds the prevalent position in the mobile artificial intelligence (AI) market as a result of the region's favorable business climate for startups and SMEs. Due to the region's increasing digitization, and governments’ investment, Asia-Pacific is predicted to experience the highest growth throughout the forecast period . The growing number of AI applications and the emergence of cognitive computing are driving the growth of the Asia-Pacific mobile artificial intelligence market.
The major market players in the Global mobile AI market are NVIDIA, Samsung, Intel, Apple, Alphabet, Inc. (Google), Microsoft Corporation, MediaTek, Qualcomm Incorporated, and Huawei (Hisilicon). These key industry players in the mobile artificial intelligence market are meeting the demand by partnering or acquiring smaller players. The collaboration is predicated on positively impacting the market and both key players and SMEs will have the key role to accommodate demand, both as well as investing globally in cutting-edge products.