NEW YORK, Jan. 29, 2024 /PRNewswire/ -- The mobile AI market is estimated to grow by USD 39.91 billion from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 26.78% with a YOY growth rate of 26.33% during the forecast period. However, the growth momentum will progress.
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Technavio has segmented based on Component (Software, Hardware, and Services), Application (Smartphones, Automobiles, Robotics, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
By geography, the mobile AI market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth.
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Increasing smartphone penetration is notably driving growth. Advancements in wired and wireless communication tech and infrastructure are fueling global smartphone adoption. Projections indicate 4 billion users by 2025. This rise in smartphone use has increased smartphone Internet users to 62% in 2021, driving global mobile data traffic. The popularity of social platforms like Instagram, Facebook Messenger, WhatsApp, and Snapchat is integrating human-machine interface (HMI) tech like AI, voice recognition, facial recognition, and gesture recognition into smartphones.
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Mobile AI: Key Benefits
Mobile AI offers numerous benefits such as improved Artificial Intelligence (AI) capabilities on mobile devices, better Machine Learning, Natural Language Processing (NLP) in mobile applications, enhanced Virtual Assistants, advanced Speech and Image Recognition, efficient Chatbots, deeper learning with Neural Networks, optimized mobile processors, Edge Computing, secure mobile operating systems, advanced mobile sensors, Gesture Recognition, improved mobile security, enhanced Augmented Reality (AR) and Virtual Reality (VR) experiences, Cloud Computing integration, better mobile analytics, enhanced mobile user experience (UX), streamlined mobile app development, improved Human-Machine Interaction, context-aware computing, mobile edge AI, and mobile cognitive services.
What are the key data covered in this Mobile AI Market report?
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Component
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing market scenarios.
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SOURCE Technavio