Global Mobile Artificial Intelligence Market- Industry Analysis and Forecast (2020-2027)
The Global Mobile Artificial Intelligence Market size was valued at US$ 1.66 Bn in 2019 and is expected to reach US$ 12.4 Bn by 2027 to exhibit a CAGR of 28.58 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the Market and contains thoughtful insights, facts, historical data, industry-validated Market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global Mobile Artificial Intelligence Market dynamics, structure by identifying and analyzing the Market segments and project the global Market size. Further, the report also focuses on the competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global Mobile Artificial Intelligence Market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Artificial intelligence contains complex algorithms, which is growing rapidly in the present market. Generally, it’s used the data analytics and statistics to improve its data system market. Both Android and iOS mobile platforms are adding, Artificial Intelligence and machine learning in various apps. Also, with Artificial Intelligence and machine learning decision making has become a lot faster and exact by accumulating a vast volume of information.
The major driving factors of the global Mobile Artificial Intelligence Market are increasing at a significant space across the world, due to the arrival of Artificial Intelligence and machine learning, developments in information and communications technology, important changes in global business operations, and organizations are continuously inventing smartphone applications.
Premium rating of AI processors and restricted number of AI experts are restraining global Mobile Artificial Intelligence Market growth. The irregularity of AI algorithms in mobile apps and creating models and mechanisms of AI are the major challenges of this market.
Rising demand for edge computing in IOT, increasing dedicated low-cost AI chips for camera and vision applications in mobile devices are generating many opportunities in mobile artificial intelligence market.
Smartphones are projected to hold the largest size of the market through the forecast period owing to the rising requirement for higher security, low latency, faster computing, and less reliance on connectivity is increasing the adoption of devices with dedicated AI chips. On-device
AI usages dedicated AI chipsets, which are expected to become prominent in all flagship smartphones in the near future. It is estimated that the use of dedicated AI chips in smartphones will rise significantly.
Augmented Reality/ Virtual reality applications are anticipated to grow at the highest rate during the forecast period due to the large tech companies such as Qualcomm, Google, Microsoft, and Apple have shown their interests in contributing to the progress of increased technology by adopting approaches such as product launches, acquisitions, or funding.