DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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
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.
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.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Mobile AI Market, By Application
7 Mobile AI Market, By Technology Node
8 Mobile AI Market, By Region
9 Competitive Landscape
10 Company Profiles
- Samsung Electronics
- Cerebras Systems
- Cambricon Technology
- Deephi Tech
- Shanghai Thinkforce Electronic Technology Co. Ltd. (Thinkforce)
- Sambanova Systems
- Rockchip (Fuzhou Rockchip Electronics Co. Ltd.)
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