Exactitude Consultancy’s most recent market study, which it completed and released, predicts that the mobile artificial intelligence (AI) industry would expand at a CAGR of more than 28.5% from 2022 to 2029. As a result, the market value is predicted to increase from USD 8.45 billion in 2020 to USD 80.28 billion in 2029.
The market for mobile artificial intelligence (AI) is discussed in the study in light of the major market participants, their brands, technological breakthroughs, and the benefits that consumers may have from using it.
Other significant market elements, such as the phenomena of the adoption of different mobile artificial intelligence (AI) techniques and the categories they are used in, were considered when generating the report.
The rising need for artificial intelligence in smartphones, the rise in demand for AI-capable processors, and the growing investment in AI technologies are some of the reasons driving the growth of the mobile artificial intelligence (AI) market. The industrial, automotive, and video gaming industries have all made innovative use of artificial intelligence technology.
The smartphone industry uses artificial intelligence (AI) technology for a variety of purposes beyond simple tools like digital assistants. A number of mobile manufacturing companies are vying with one another to develop AI capabilities for smartphones that live up to customer expectations. However, the high cost of artificial processors severely restricts the growth of the worldwide mobile artificial intelligence (AI) industry.