Mobile Artificial Intelligence (AI) Market Worth $17.83 Billion by 2023
PUNE, India, July 31, 2018 /PRNewswire/ --
According to the new market research report "Mobile Artificial Intelligence (AI) Market by Application (Smartphones, Cameras, Drones, Automotive, AR/VR, Robotics, Smart Boards, and PCS), Technology Node (10nm, 20 to 28nm, 7nm and Others), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the 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.
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Browse 46 market data Tables and 35 Figures spread through 119 Pages and in-depth TOC on "Mobile Artificial Intelligence (AI) Market - Global Forecast to 2023"
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Mobile AI market for smartphone applications to register largest shipment in 2018
Increasing demand for real-time speech and voice recognition and analysis, along with technical advancements in smartphone image recognition, is driving the growth of the market for AI processors for smartphones. On-device AI uses dedicated AI chipsets that will become prominent in all flagship smartphones in the near future. It is expected that the use of dedicated AI chips in smartphones will increase substantially by 2023, and these chips will be available in most smartphones sold in the coming years. All these factors are contributing to the growth of the mobile AI market for smartphone applications.
Mobile AI market for 20-28nm technology nodes to grow at highest rate during forecast period
The market for drones, robotics, and surveillance cameras, in which vision processing units are used, is likely to grow at a significant rate in the near future. Processors such as VPU Jetson and S32V234 are built upon 20-28nm technology nodes. These processors are used in an array of applications, including ADAS, drones, robotics, security cameras, and AR/VR headsets. Increasing participation of various automotive and IT giants to develop autonomous cars is propelling the growth of the mobile AI market for autonomous driving.
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APAC to hold largest size of mobile AI market by 2023
APAC 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.
Major players in the mobile AI market are Huawei (China), Samsung Electronics (South Korea), Qualcomm (US), Intel (US), NVIDIA (US), Apple (US), IBM (US), Microsoft (US), MediaTek (Taiwan), and Google (US).
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