Published in AI

Mobile AI market will reach $84.97 billion by 2030

by on26 July 2023

Thanks to increasing growth in mobile device power

Increasing growth in the processing power of mobile devices will help the global mobile artificial intelligence market grow to reach $84.97 billion by 2030.

A new report, with the catchy title "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" by Grand View Research said that market growth has been significant.

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 that can efficiently run AI algorithms and models, the report said.

The emergence of edge computing with the increasing processing power of mobile devices, AI models can now be deployed on the device itself rather than in the cloud. This is known as edge computing and allows for faster and more efficient processing of data

The prominent growth of Augmented reality and the overlay of digital information in the real world is fueling the market growth. Mobile AI is being used to develop AR applications that can recognise objects and provide information about them in real-time

North America had the largest revenue share of over 30.77 per cent in 2022. Due to major investment in mobile AI in the region

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 analyses medical images detects fraud in financial transactions and provides personalised 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.

The report said that 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.

Last modified on 26 July 2023
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