“The Mobile Artificial Intelligence (AI) Market is poised to grow by USD 23.61 billion during 2022-2026, accelerating at a CAGR of 29.06% during the forecast period”

Artificial Intelligence in mobile applications is a technological innovation that is emerging lately. Existing mobile applications don't have the capability to integrate the trend toward Artificial Intelligence that is gaining so much popularity. The market for this type of programming is booming. In mobile focus on voice assistant functions, photography, and facial recognition.

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers the market segmentation by type application and geography North America, Europe, APAC, South America, and Middle East and Africa. The market report also offers information on several market vendors, including AIStorm Inc, Alphabet Inc., Apple Inc., Blaize, Cerebras Systems Inc, CrossCert, Fuzhou Rockchip Electronics Co. Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Imagination Technologies Ltd, Intel Corp., International Business Machines Corp., MediaTek Inc., NVIDIA Corp., Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc, Think Force, and Xilinx Inc. among others.

What will the Mobile Artificial Intelligence (AI) Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report belonging to Semi-Conductor Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Technavio is a global technology research and advisory company. We use a proprietary Research Methodology tailored to each market we cover. Unlike most vendors that provide similar reports, our team of Industry Experts constantly validates our data, assumptions, and conclusions based on in-depth research and over 50 years of combined experience in the IT Industry. Our data is completely original: it has not been aggregated or replicated. This creates a unique opportunity for you to obtain a comprehensive view of the current state of the market as well as provide deep insights into future outlook areas.

Mobile Artificial Intelligence (AI) Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the  (AI) market as belonging to the Information Technology Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key Mobile Artificial Intelligence (AI) Market Driver

• The increasing smartphone penetration is one of the factors driving the market growth. 
• Developments in wired and wireless communication technologies and communication network infrastructure are driving smartphone penetration globally. It is expected that the number of smartphone users across the world will reach 4 billion by 2025 from 2.9 billion in 2018.
• The growing popularity and the increasing use of social networking platforms, such as Instagram, Facebook Messenger, WhatsApp, and Snapchat, are leading to the integration of human-machine interfaces (HMI) technologies such as AI, voice recognition, facial recognition, and gesture recognition into smartphones. 
• In August 2021, Samsung Electronics Co., Ltd. joined Google LLC, Nvidia Corp., and other tech companies in using AI to design its next processors. The company is using new features provided by a chip design software maker called Synopsys with at least some of Samsung's next-generation Exynos processors. Such developments are anticipated to drive market growth during the forecast period.

Key Mobile Artificial Intelligence (AI) Market Trend

• Increasing demand for edge computing in IoT is one of the key factors of the market trends is fueling the market growth.
• Edge computing is a network architecture wherein the data is stored and processed near its origin. The advantage of edge computing is that the stored content is close to the client machine.
• In IoT, sensors and devices generate huge amounts of data per second. With the help of edge computing, the data generated can be stored on the device or the nearest network node. The network node is responsible for data processing and can respond immediately if any action is required.
• IoT device manufacturers are integrating HMI technologies in devices such as cameras, drones, smart speakers, smartphones, and smart TVs. This is leading to the deployment of AI chips in IoT devices that enables power-efficient data processing and ML computation in these devices. The AI chips integrated into these devices enable them to make real-time decisions. 
• There is an increase in the use of AI in IoT devices. Hence, vendors are introducing new AI chips and platforms at the edge for IoT devices. 

Key Mobile Artificial Intelligence (AI) Market Challenge

• The inadequate availability of AI experts is one of the factors hindering the (AI) market growth. 
• Companies need to analyze all aspects before integrating AI because of its high R&D costs. Meanwhile, enterprises usually seek information from highly experienced AI professionals.
• Several firms have stated that a lack of talent is the greatest barrier to the implementation of AI within their business operations. However, the growth of an enterprise is hampered by a shortage of experts with the requisite knowledge of AI technology.
• Firms not only have to focus on technology but also identify and hire people with the necessary technical expertise and experience with AI implementation.
• Organizations need to prioritize talent acquisition and cultivation activities by recruiting people with strong technical backgrounds. Furthermore, they need to invest in skill and training programs to help retain AI practitioners. However, the lack of a skilled workforce, AI engineers, and technicians limit the deployment of AI in enterprises, which, in turn, may hamper the growth of the market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Mobile Artificial Intelligence (AI) Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

• AIStorm Inc
• Alphabet Inc.
• Apple Inc.
• Blaize
• Cerebras Systems Inc
• CrossCert
• Fuzhou Rockchip Electronics Co. Ltd.
• Graphcore Ltd.
• Huawei Technologies Co. Ltd.
• Imagination Technologies Ltd
• Intel Corp.
• International Business Machines Corp.
• MediaTek Inc.
• NVIDIA Corp.
• Qualcomm Inc.
• SambaNova Systems Inc.
• Samsung Electronics Co. Ltd.
• SenseTime Group Inc
• Think Force
• Xilinx Inc.

Market Overview

Technavio categorizes the  (AI) market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Technavio calculates the global technology hardware, storage, and peripherals market size by considering the revenue generated from sales of the hardware devices, equipment, and components. Growth in the global technology hardware, storage, and peripherals market will be driven by the following factors such as growing demand for data centers and demand by customers.

Mobile Artificial Intelligence (AI) Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a cash logistics flow and provides a complete understanding of all aspects of a cash logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for Mobile Artificial Intelligence (AI) Market?

41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The need to eliminate manual errors to reduce the number of automobile accidents will facilitate the mobile market growth in North America over the forecast period. The improving Internet infrastructure, high economic growth in the developing countries, and increasing per capita income of the population in APAC. Major smartphone OEMs based in the region, such as Huawei and Samsung, are aggressively spending on R and D for developing AI chips for use in smartphones. As APAC is a hub of smartphone OEMs. Our reports conclude that several smartphone OEMs will start incorporating AI chips in their offerings to remain competitive in the market. This will accelerate the demand for AI chips in the region during the forecast period. In APAC, vendors are opting for strategic collaborations and acquiring start-ups to capitalize on the growth potential of AI and gain technical knowledge and leverage each other's technological expertise to develop an AI ecosystem. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a positive impact on regional market growth. Furthermore, the shift in consumer shopping habits during the lockdown, i.e., from offline to online, has significantly boosted the demand for mobile AI. Thus, a rapid increase in online shopping will propel market growth in the forecasted period. 

What are the Revenue-generating Application Segments in the Mobile Artificial Intelligence (AI) Market?

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The mobile AI market share growth in the smartphone segment will be significant during the forecast period. Many smartphone OEMs are integrating dual-lens cameras, triple-lens cameras, and several other innovative technologies to attract customers to upgrade their devices. The integration of these technologies requires AI chips that can process data faster. Most of the smartphones available in the market have these technologies, but these applications are not efficiently supported by the processors integrated into these devices. Therefore, smartphone users are finding AI technologies a valuable addition to their devices. Therefore, smartphone OEMs are investing heavily in the development of AI chips that offer the potential to integrate and deploy advanced technologies in smartphones.

This report provides an accurate prediction of the contribution of all the segments to the growth of the (AI) market size and actionable market insights on the post-COVID-19 impact on each segment.

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Artificial Intelligence (AI) market in the BFSI Sector - The market share is expected to increase by USD 32.97 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 36.68%.

Artificial Intelligence in Marketing market - The market share is expected to increase to USD 31.72 billion from 2021 to 2026, at an accelerating CAGR of 26.84%.

Artificial Intelligence (AI) in Social Media market - The market share is expected to increase by USD 3.66 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 26.93%.

Artificial Intelligence in Security market - The market size is expected to be valued at USD 16.23 billion by 2026 with a progressing CAGR of 26.84%.

Artificial Intelligence market in the Healthcare Sector - The market share is expected to increase to USD 13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.16%. 

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What are the Key Data Covered in this Mobile Artificial Intelligence (AI) Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the growth during the next five years
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the the industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of mobile artificial intelligence (ai) market vendors

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