Mobile Artificial Intelligence Market to Hit $84.97 Billion by 2030: Grand View Research, Inc.

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26 Jul, 2023, 06:00 ET

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SAN FRANCISCO, July 26, 2023 /PRNewswire/ -- The global mobile artificial intelligence market is anticipated to reach USD 84.97 billion by 2030, registering a CAGR of 26.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth has been significant in recent years due to several factors. One of the major drivers augmenting the market is the increasing processing power of mobile devices. Modern smartphones and tablets have powerful processors and graphics processing units (GPUs) that can efficiently run AI algorithms and models.

Key Industry Insights & Findings from the report:

Read full market research report with latest industry insights, "Mobile Artificial Intelligence Market Size, Share & Trends Report By Technology Node (7 nm, 10 nm, 20-28 nm And Others), By Application (Smartphones, Cameras, Drones), By Region, And Segment Forecast, 2023 - 2030", published by Grand View Research.

Mobile Artificial Intelligence (AI) Market Growth & Trends

Another factor fueling the market growth of mobile artificial intelligence (AI) is the prominent availability of AI tools and frameworks. Many popular AI frameworks, such as TensorFlow, PyTorch, and Keras, have mobile versions that allow developers to build and deploy AI models on mobile devices. Mobile AI applications are used in healthcare, finance, education, and entertainment to improve efficiency, accuracy, and user experience. For instance, mobile AI analyzes medical images, detects fraud in financial transactions, and provides personalized learning experiences. Moreover, emerging data collection is also a significant factor in market growth. Mobile devices generate vast amounts of data, such as images, videos, and text, which can be used to train AI models. The growth of the Internet of Things (IoT) contributes to data availability by generating data from various sources, such as sensors and connected devices.

Overall, the growth of mobile AI is expected to continue as AI technology becomes more advanced and accessible and as mobile devices become more powerful and ubiquitous. It has the potential to transform various industries and improve the lives of people around the world, as its applications can be used in various domains. Some examples of mobile AI applications include speech recognition, image and video recognition, natural language processing, and predictive analytics.

Investments in various AI-based technologies have increased recently. This element is driving the global market for mobile AI. The rise in demand for processors with AI capabilities on a worldwide scale is another factor driving the market. Several nations' governments are implementing various advantageous policies to support the start-up culture. This reason is increasing the need for mobile AI in the international market. Smartphones, Cameras, drones, AR/VR, automobiles, and robots are a few of the significant industries in which items from the market is used. Limited AI Experts and Expensive AI Processors are the two factors limiting industry expansion. In contrast, the potential includes prominent demand for Edge Computing in IoT and Low-Cost vision applications in mobile devices and AI chips for cameras.

Mobile Artificial Intelligence (AI) Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 16.03 billion

Revenue forecast in 2030

USD 84.97 billion

Growth Rate

CAGR of 26.9% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 - 2021

Forecast period

2023 - 2030

Mobile Artificial Intelligence Market Segmentation

Grand View Research has segmented the global mobile artificial intelligence market based on technology node, application, and region:

Mobile Artificial Intelligence (AI) Market - Technology Node Outlook (Revenue, USD Million, 2017 - 2028)

Mobile Artificial Intelligence (AI) Market - Application Outlook (Revenue, USD Million, 2017 - 2028)

Mobile Artificial Intelligence (AI) Market - Regional Outlook (Revenue, USD Million, 2017 - 2028)

List of Key Players of Mobile Artificial Intelligence (AI) Market

Check out more market research studies published by Grand View Research:

Browse through Grand View Research's Next Generation Technologies Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James Corporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: [email protected]Web: https://www.grandviewresearch.comGrand View Compass | Market Research BlogsFollow Us: LinkedIn | Twitter

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SOURCE Grand View Research, Inc.