Mobile Artificial Intelligence (AI) Market worth $17.83 billion by 2023

The Mobile Artificial Intelligence (AI) Market is expected to reach USD 17.83 billion by 2023 from USD 5.11 billion in 2018, at a CAGR of 28.41% during the forecast period. The growth of the mobile AI market can be attributed to the increasing demand for AI-capable processors for use in mobile devices, rise in cognitive computing, and growing number of AI applications. Moreover, dedicated low-cost AI chips for camera and vision applications in mobile devices and rising demand for edge computing in IoT are creating huge growth opportunities for players in the market.

By technology node, 10nm nodes accounted for the largest market share during the forecast period

10nm nodes accounted for the largest share (in terms of volume) of the mobile AI market, by technology node, in 2017 and is expected to register a high CAGR during the forecast period. The growth of this market can be attributed to the increasing penetration of 10nm technology nodes in new high-end smartphones. Advancements in 10nm technology node result in more power-efficient processors and better battery life and performance of smartphones. Most modern high-end smartphones comprise AI chips. The iPhone X consists of Apple's A11 Bionic chip and Galaxy S9 smartphones that are powered by the Exynos 9810 processors, which are built on the advanced 10nm FinFET process for improved performance and long-lasting battery life.

By application, smartphones to hold the largest share of mobile AI market during the forecast period

Increasing demand for real-time voice processing and image recognition is driving the growth of the market for AI processors for smartphones. Most AI processors have additional inbuilt neural processing units (NPUs), which are capable of parallel processing, use low power, and can carry out cognitive tasks. On-device AI makes use of dedicated AI chipsets and is likely to become prominent in all flagship smartphones this year onward. Most new high-end smartphones comprise AI chips, which includes a dedicated neural processing unit. The neural processing unit comes with AI features, such as features facial unlocking, intelligent display rotation, and a smart notifications lock. Moreover, companies such as Samsung, Xiaomi (China), and MediaTek are heavily investing in their current and upcoming smartphones, which will be equipped with AI chips.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138681717

Mobile AI Market in APAC to grow at highest CAGR during the forecast period

The mobile AI market in APAC is expected to register at the highest CAGR during the forecast period. In APAC, China is the largest market for artificial intelligence. Applications such as smartphones, industrial robots, and automotive hold huge potential for mobile AI and are contributing to the growth of the mobile AI market in APAC. The region provides business expansion opportunities, and hence, is becoming the center of attraction for major investments. Various start-ups in China are raising funds to grow in the mobile AI market. For example, ThinkForce raised around USD 68 million in December 2017, DeePhi raised around USD 40 million in October 2017, and in March 2018, SambaNova Systems raised USD 56 million. All these factors, coupled with the increasing number of start-ups in the mobile AI ecosystem, are fueling the growth of the market in APAC.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441