Globally, there's a wave of artificial intelligence across various industries, especially consumer electronics and health care. The wave is likely to continue in the years to come with the expanding base of the technology’s applications. The global market for artificial intelligence is expected to witness phenomenal growth over the coming years, as organizations worldwide have started capitalizing on the benefits of such disruptive technologies for effective positioning of their offerings and customer reach.
Artificial Intelligence (AI) has been one of the fastest-growing technologies in recent years. AI is associated with human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of such a technology.
The mobile artificial intelligence market analysis is segmented on the basis of application, technology node and geography. Based on the application, the market is segmented into smartphones, cameras, drones, robotics, automotive, AR/VR and others. On the basis of technology node, the market is segmented into 20-28nm, 10nm, 7nm and more.
In 2016, North America governed the global AI market in terms of revenue, owing to the availability of high government funding, the presence of leading players in the region, and a strong technical adoption base.
The region is anticipated to dominate the market over the forecast period. Furthermore, the espousal of cloud-based services in countries such as the U.S. and Canada, is significantly contributing to the regional market growth. AI has been increasingly deployed in North America, followed by Europe, Asia-Pacific and LAMEA. The highest share of the North America market is attributed to the increase in adoption of this technology in the IT & Telecom industries. The rise in the number of inorganic strategies by the market leaders in the country is for business expansion.
The mobile AI market for AR/VR applications is expected to grow at the highest rate between 2018 and 2023. Large tech companies such as Qualcomm (U.S.), Google, Microsoft (U.S.), and Apple (U.S.) have shown their interests in contributing to the growth of augmented technology.
Some of the companies in the mobile artificial intelligence market are Nvidia, Intel, Microsoft, IBM, Qualcomm, Apple, Alphabet (Google), Samsung, Mediatek, Graphcore, Cerebras Systems, Cambricon Technology, Deephi Tech., Sambanova Systems, Rockchip (Fuzhou Rockchip Electronics Co., Ltd.), Thinci, and Kneron. The major companies operating in the global market will eventually grab the opportunity presented by the new technology to further enhance their product offerings.
Khusro Khan is a Web Analyst at Transparency Market Research.