Mobile AI Market Market Business Strategy, Future Plans, Development Status and Trends by Forecast 2023
Artificial intelligence is a vital technology which has transformed the way humans interact with machines. Mobile artificial intelligence or mobile AI is growing at a rapid pace and has immense potential over the assessment period from 2018 to 2023. Market Research Future has studied the market extensively and has found that the global mobile AI market is on track to tremendous growth at a CAGR of 29.52% during the assessment period. Calculations regarding the growth of the market suggest that the global market will reach an estimated value of USD 10.28 Bn by the end of 2023.
Mobile AI has increasingly become a vital part of mobile technology in various forms and degrees. With the high penetration of smartphones and other advanced personal devices, most consumers are accustomed to existing mobile AI, while many discerning consumers show a high adoption rate for advanced technology in personal devices. Mobile AI has led the market to AI chipsets which increase mobile computational power and allow devices to expand their applications. Mobil AI is used for navigation, increasing smartphone security and improving camera features just to name a few popular uses. Cameras are often a compelling feature which encourages the consumer to choose one brand of smartphone over the other. Increasing implementation of mobile AI has been highly helpful in improving subject detection and automatically improving the quality of images taken with minimum effort on the part of the consumer. Natural language processing and machine learning are being employed to make various AI feature more advanced. Virtual assistants are widely used and are a prime example of the same. Many market players in B2C industries are using mobile AI to market their products to consumers through the use of chatbots and other applications of mobile AI
However, the high price tag associated with mobile AI processors means they are largely used in premium mobile devices, thus restraining market growth. Notably, the advancement of technology, which is ongoing, is expected to impact the cost of mobile aI in the future and mitigate this market challenge to some degree.
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The global mobile AI market has been segmented according to several factors such as mobile platforms, application, vertical, and regions. Mobile platforms have been segmented into Android, Windows, and iOS.
Applications of mobile AI have been segmented, in the report, into navigation, camera, drones, virtual assistant, chatbots, and other. Verticals, where mobile AI is applied, include media & entertainment, finance, healthcare, education, travel & tourism, and others.
Regions covered in MRFR's report include Europe, North America, the Asia Pacific, and the Rest of the World.
The regions covered in MRFR's analysis of the global mobile AI market include Asia Pacific, North America, Europe, and the Rest of the World. The North American market is poised to lead the market and retain its leadership position over the forecast period. The presence of a number of leading market players in the region which are actively developing and adopting technologies to integrate with AI in smartphones is expected to be a key driver of the regional market.
Meanwhile, the Asia Pacific market is likely to grow at the most rapid pace due to the presence of a large number of leading smartphone manufacturers. Many of these manufacturers also manufacture device specific AI processors. The adoption of advanced technology is growing in the region, and as such, investments toward R&D activities have grown substantially, this driving the market toward opportunities for growth.
Graphcore (UK), Samsung Electronics (South Korea), Microsoft Corporation (US), Huawei (China), Intel Corporation (US), Google Inc (US), IBM Corporation (US), NVIDIA (US), Qualcomm (US), MediaTek (Taiwan), Apple Inc (US), and Amazon Inc (US).
Latest Industry News
- New Asus phone, ZenFone includes AI-powered camera scene detection in its list of features.
AirAsia Is making use of chatbots in its new mobile applications to help improve service. Consumers can now direct flight and related queries through chatbots.
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