Latest News- Mobile AI Market: Software is expected to lead the Component segment during 2024-2028

The Mobile AI Market is being driven by Increasing smartphone penetration

The Mobile AI Market is expected to grow at a CAGR of 26.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 39.91 billion. In the realm of IoT, edge computing plays a pivotal role by enabling data processing and storage closer to the source. This architecture reduces latency and enhances response time by keeping data near the client machine. With IoT devices and sensors generating vast quantities of data per second, edge computing facilitates local data storage and processing on the device or the nearest network node. The network node, responsible for data analysis, can promptly respond with necessary actions, ensuring optimal business efficiency and real-time decision making. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Software
  • Hardware
  • Services
• Application
  • Smartphones
  • Automobile
  • Robotics
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing smartphone penetration
• Raising capital investments in AI start-ups
• Growing demand for AI in enterprise applications

However, the market also witnesses some limitations, which are as follows:

• Inadequate availability of AI experts
• Regulatory hurdles in implementing AI
• Complexity of AI algorithms for developing mobile applications

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Market Scope in Mobile AI Market Research Report

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Research Analysis Overview

The Mobile AI market is experiencing significant growth with the integration of 5G technology, IoT devices, drones, and AI chipsets. Venture capital financing is fueling innovation in edge computing and cloud computing, enabling advanced applications in VR and AR for Industry 4.0. Intel Corporation is at the forefront, prioritizing performance, reliability, privacy & security for personalized services and experiences on smartphones, robotics, and the Internet. (50 words) The Mobile AI market is witnessing rapid expansion, driven by 5G, IoT, drones, and AI chipsets. Edge computing and cloud computing, funded by venture capital, are revolutionizing VR and AR for Industry 4.0. Intel Corporation leads the way, focusing on performance, reliability, and security for personalized services and experiences on smartphones, robotics, and the Internet. (50 words) The Mobile AI market is booming, with 5G, IoT, drones, and AI chipsets leading the charge. Venture capital investments in edge computing and cloud computing are transforming VR and AR for Industry 4.0. Intel Corporation is at the helm, ensuring top performance, reliability, and privacy & security for personalized services and experiences on smartphones, robotics, and the Internet. (50 words) The Mobile AI market is thriving, thanks to 5G, IoT, drones, and AI chipsets. Edge computing and cloud computing, backed by venture capital, are shaping the future of VR and AR in Industry 4.0. Intel Corporation is spearheading this revolution, prioritizing performance, reliability, and privacy & security for personalized services and experiences on smartphones, robotics, and the Internet. (50 words) The Mobile AI market is surging forward, powered by 5G, IoT, drones, and AI chipsets. Edge computing and cloud computing, financed by venture capital, are pushing the boundaries of VR and AR for Industry 4.0. Intel Corporation is leading the charge, focusing on performance, reliability, and privacy & security for personalized services and experiences on smartphones, robotics, and the Internet. (50 words)

Market Research Overview

The mobile AI market encompasses businesses specializing in the development and production of artificial intelligence (AI) software for mobile devices. This sector is experiencing significant growth due to the integration of 5G technology and the Internet of Things (IoT), enabling real-time data processing and transfer. The virtuous circle of technology development, venture capital financing, and drone-generated data, further fuels innovation and expansion. The market size is determined by the combined revenue of these companies, including those offering cloud-based AI solutions. It is essential to note that this definition excludes interactive home entertainment software and database management software companies classified under systems software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/