Mobile AI Market Size And Future Growth 2022-2030
Mobile AI Market to Touch USD 80.5 Billion at 24.25% CAGR by 2030
Shraddha Nevase
The global Mobile AI is growing by leaps and bounds. The market growth attributes to growing AI and hyperscale computing applications accelerating the integrated Cadence digital flow and custom/analog tool suite. The proliferation of hyperscale computing, 5G communications, and smart mobile phones are major trends in the market.
With the constant development of holographic technology, the application range of mobile AI is getting wider and wider. Besides, the rising automation and digitization across the industries substantiate market growth. The growing need for digital transformations in industries worldwide escalates the market growth further.
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According to a leading research firm Market Research Future (MRFR), the global mobile AI market is expected to to reach USD 80.5 Billion by 2027, registering a massive24.25% CAGR during the forecast period (2022 to 2030). Mobile AI sees greater opportunities due to its ability to make continuous improvements.
Additionally, the increasing number of AI-enabled mobile applications and AI-based products & services drive the growth of the market. Also, the changing strategic framework impacts market growth positively. Conversely, the lack of technical expertise and AI standards are major factors projected to impede the market's growth. Nevertheless, growing competition across the industries and the growing emphasis on business intelligence would support market growth throughout the assessment period.
Global Mobile AI Market - Segments
The report is segmented into mobile platform, application, vertical, regions. The mobile platform segment is sub-segmented into Android, iOS, and Windows. The application segment is sub-segmented into virtual assistant, navigation, camera, chatbots, drones, and others. The vertical segment is sub-segmented into healthcare, finance, education, travel & tourism, media & entertainment, and others.
Mobile AI Market - Regional Analysis
North America leads the global mobile AI market, mainly due to the wide adoption of various technologies to integrate artificial intelligence in smartphones. Moreover, the presence of the majority of key players such as NVIDIA Corporation, IBM Corporation, and Qualcomm drive the growth of the mobile AI market in this region.
Increasing R&D investments to develop AI technologies and the digital transformation in the region foster market growth. Also, the increasing demand for intelligent virtual assistants boosts the regional market growth.
The European mobile AI market holds the second-largest share. The market growth is fostered by the presence of various notable players and large deployments of these AI technologies in smartphones. Additionally, the high adoption of automation solutions in the manufacturing sector pushes the regional market growth.
Asia Pacific mobile AI market is growing rapidly. Factors such as the proliferation of digitization and increasing uses of smartphones influence the growth of the regional market. Augmenting demand for automation tools and the rising adoption of AI and cloud computing impact the market growth positively. India and China are major markets for AI technologies in the region.
Mobile AI Market - Competitive Analysis
Highly competitive, the mobile AI market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and expansion remain prevailing key trends for the leading players as these strategic moves support their growth and expansion plans.
Major Players
Players leading the mobile AI market are NVIDIA (US), Apple Inc (US), Huawei (China), Amazon Inc (US), Samsung Electronics (South Korea), Qualcomm (US), IBM Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Google Inc (US), MediaTek (Taiwan), and Graphcore (UK).
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Industry/Innovation/Related News
May 19, 2021 ---- WIMWIsure (India), an insurtech start-up, launched an AI-enabled bot to help citizens find a vaccination slot. The start-up has integrated its conversational AI technology with available Open APIs to trigger notifications through WhatsApp, working on other areas of coordination for COVID-19 resources by mitigating the demand-supply gap for real-time availability.
May 25, 2021 ---- Iodine Software, a fast-growing healthcare technology company using artificial intelligence to solve provider problems improving clinical documentation, announced the acquisition of Artifact Health to expand its AI technology to thousands of physicians. Iodine's AI technology is currently accessible to more than 80,000 providers, while Artifact's mobile platform is currently deployed to healthcare providers at more than 200 hospitals across the country.
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