“The mobile AI market is expected to grow at a CAGR of 28.41% between 2018 and 2023.”
The mobile 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. Increasing demand for AI-capable processors for use in mobile devices, rise in cognitive computing, and growing number of AI applications are some of the major factors driving the growth of the mobile AI market. However, factors such as premium pricing of AI processors and limited number of AI experts are restraining market growth.
“The market for AR/VR applications is expected to grow at a high CAGR during the forecast period.”
Virtual reality (VR) and augmented reality (AR) are rapidly evolving technologies. Large tech companies such as Qualcomm (US), Google, Microsoft (US), and Apple (US) have shown their interests in contributing to the growth of augmented technology by adopting strategies such as product launches, acquisitions, or funding. AR and VR, coupled with AI, will provide smarter, more relevant, and personalized experience. For instance, in July 2017, Microsoft announced the next generation of its mixed reality HoloLens headset?HoloLens 2?which will have a dedicated AI coprocessor known as the Holographic Processing Unit (HPU). Qualcomm, in February 2018, announced its Snapdragon 845 VR headset reference design to fuel next-generation VR experience. Thus, the growing interest of these large tech companies in emerging technologies, such as augmented reality and virtual reality, is a major factor driving the growth of the mobile AI market for AR/VR applications.
“The mobile AI market in APAC is expected to grow 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 provide huge growth potential for the mobile AI market in APAC. The region is becoming the center of attraction for major investments as it holds significant business expansion opportunities. Various AI processor start-ups in China are raising funds to grow in the mobile AI market. For example, ThinkForce (China) raised around USD 68 million, and DeePhi (China) raised around USD 40 million. Along with this, increasing government spending to boost the AI network in China is expected to further contribute to market growth during the forecast period. All these factors, coupled with the increasing number of start-ups in the mobile AI ecosystem, are driving the growth of the mobile AI market in APAC.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 = 27%, Tier 2 = 41%, and Tier 3 = 32%
- By Designation: C-Level Executives = 26%, Directors = 40%, and Others = 34%
- By Region: North America = 47%, Europe = 28%, APAC = 19%, and RoW = 6%
Apple (US), NVIDIA (US), Huawei (China), Samsung Electronics (South Korea), Qualcomm (US), Intel (US), IBM (US), Microsoft (US), MediaTek (Taiwan), and Google (US) are the major players in the mobile AI market.
- The market by application covers smartphones, cameras, drones, robotics, augmented reality (AR)/ virtual reality (VR), and automotive.
- The market by technology node covers 10nm, 20–28nm, and 7nm & others.
- The geographic analysis is done with regard to 4 major regions?North America, Europe, APAC, and RoW. (RoW comprises South America, and the Middle East and Africa).
Reasons To Buy the Report:
From an insight perspective, this research report is focused on various levels of analysis, such as market ranking analysis of top players. This report also studies company profiles, which present basic views on the competitive landscape; emerging and high-growth segments of the studied market; high-growth regions; and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on:
- Market penetration: Comprehensive information on various types of applications and technology nodes offered by top players in the overall mobile AI market.
- Product development/innovation: Detailed insights regarding research and development (R&D) activities, emerging technologies, and product launches in the mobile AI market.
- Market development: Comprehensive information about lucrative emerging markets, along with the analysis of the mobile AI markets across regions.
- Market diversification: Exhaustive information about new products, untapped geographic regions, recent developments, and investments in the overall mobile AI market.
- Competitive assessment: In-depth assessment of ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the mobile AI market.