Catenaa, Tuesday, November 12, 2024 – The Mobile Artificial Intelligence (AI) market is projected to grow at a compound annual growth rate (CAGR) of 25.5% from 2023 to 2032, reaching an estimated value of $271.7 billion by the end of the forecast period, a report said.
The study by Global Market Insights found that the ongoing global deployment of 5G technology was a key driver of this growth, providing faster data speeds and reduced latency that enable more efficient processing of complex AI algorithms in mobile devices.
5G’s enhanced data transfer capabilities are paving the way for advanced AI-driven features in smartphones and mobile devices, which are increasingly becoming integral to consumer tech.
For instance, Alphabet’s Google recently launched its Pixel 8 smartphone and new wearables in October 2023, embedding AI technology more deeply into its products to improve user experience.
In terms of technology, the 20-28nm semiconductor segment is expected to see substantial growth through 2032, as smaller node sizes allow for more power-efficient and compact AI chips.
The automotive sector is also expected to drive demand for mobile AI technologies. As connected and autonomous vehicles become more popular, AI applications such as Advanced Driver Assistance Systems (ADAS), voice recognition, and predictive maintenance are gaining traction to improve in-car intelligence.
Regionally, the Asia Pacific market is anticipated to expand significantly due to rapid technological adoption, a growing smartphone market, and the rise of AI-driven features in mobile devices.
Companies like MediaTek, which recently integrated generative AI into its smartphone chipsets, are accelerating AI functionality in the region. This trend, along with the rollout of 5G infrastructure, positions Asia Pacific as a key growth area for mobile AI applications.
