Press release
Mobile Artificial Intelligence Market Size Projected To Reach $54.05 Billion By 2034 With A Cagr Of 24.8%
Mobile Artificial Intelligence
What Is the Projected Growth of the Mobile Artificial Intelligence Market?
The sphere of mobile artificial intelligence has seen significant expansion in its market size over the past few years. It's projected to escalate from a value of $17.45 billion in 2024 to a staggering $22.3 billion in 2025, marking a compound annual growth rate (CAGR) of 27.8%. The growth during the historical period is largely due to a surge in smartphone and tablet usage, enhanced research and development activities, heightened awareness of AI-based solutions and a growing reliance on IoT devices.
The market size for mobile artificial intelligence is anticipated to witness a substantial expansion in the upcoming years. It is projected to escalate to $54.05 billion by 2029, registering a compound annual growth rate (CAGR) of 24.8%. The growth during this forecast period is due largely to the heightened implementation of AI-based solutions in different sectors, along with the rising potency of mobile processors, and advancements in mobile AI software frameworks. The proliferation of mobile AI applications is another key factor. The key trends anticipated within this timeframe are AI chipsets, progress in hardware, mobile apps powered by AI, edge AI and the increase in 5G connectivity.
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What Are the Different Mobile Artificial Intelligence Market Segments?
The mobile artificial intelligence market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology Node: 20-28 Nano Meter (NM), 10 Nano Meter (NM), 7 Nano Meter (NM), Other Technology Nodes
3) By Application: Smartphones, Robotics, Augmented Reality (AR) And Virtual Reality(VR), Cameras, Drones, Automotive, Other Applications
Subsegments:
1) By Hardware: AI Chips, Sensors, Mobile Devices
2) By Software: Machine Learning Algorithms, Natural Language Processing (NLP) Tools, AI Frameworks And Platforms, Mobile Applications With AI Capabilities
3) By Services: AI Consulting Services, AI Integration Services, AI Maintenance And Support Services, Custom AI Development Services
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What Are the Primary Drivers Shaping the Mobile Artificial Intelligence Market?
The growth of the mobile artificial intelligence market is anticipated to be fueled by the surging adoption of smartphones. These gadgets, which merge the capabilities of mobile phones and personal computers, have become essential to the implementation and utility of mobile artificial intelligence (AI). They provide a dynamic platform for mobile AI, facilitating AI-powered functions, bespoke experiences, intelligent engagement and real-time AI processing. Up to February 2023, Uswitch Limited revealed that the number of mobile connections in the UK grew by 3.8% (or about 2.6 million) to reach 71.8 million. Projections indicate that by 2025 the UK population will be 68.3 million, with 95% (around 65 million people) owning a smartphone. This surge in smartphone usage is set to boost the mobile artificial intelligence market. The adoption of drones in various sectors is poised to further spur the progress of the mobile artificial intelligence market. These high-tech remote or autonomously-controlled flying devices heavily rely on mobile artificial intelligence for their evolution. The AI technology allows drones to independently and intelligently operate while effectively processing information in real-time, recognizing objects and making informed decisions. These capabilities contribute to the drones' adaptability and worth in multiple fields. Data from Airservices Australia forecasts that the drone flights in Australian airspace will surge from 1.5 million in 2023 to 60.4 million by 2043. This hike in drone utilization across numerous industries is projected to contribute to the advancement of the mobile artificial intelligence market.
Which Companies Are Leading in the Mobile Artificial Intelligence Market?
Major companies operating 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.
What Are the Major Trends Shaping the Mobile Artificial Intelligence Market?
Large corporations in the mobile artificial intelligence market are leveraging cutting-edge technologies like generative AI to maintain their market dominance. Generative AI, an AI technology type, is capable of generating diverse content forms such as text, images, audio, and synthetic data. For example, in April 2023, Sofy, an American firm specializing in automation solutions for mobile applications, introduced SofySense, a no-code mobile app testing solution driven by generative AI. Generative AI can generate new data from existing ones, and no-code testing solutions let users perform software tests without coding. This pairing could usher in a radical change in mobile application testing by mechanizing the procedure, thereby amplifying its efficiency. SofySense minimizes the time devoted to examining results for potential issues by generating test cases that mitigate research and testing design necessities. It further allows seamless conversion of test cases into automated tests, reducing time spent on crafting automation code.
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What Are the Top Revenue-Generating Geographies in the Mobile Artificial Intelligence Market?
North America was the largest region in the mobile artificial intelligence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in mobile artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mobile Artificial Intelligence Market?
2. What is the CAGR expected in the Mobile Artificial Intelligence Market?
3. What Are the Key Innovations Transforming the Mobile Artificial Intelligence Industry?
4. Which Region Is Leading the Mobile Artificial Intelligence Market?
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