The artificial intelligence (ai) in smartphone and wearable global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) In Smartphone And Wearable Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) in smartphone and wearable market size has grown exponentially in recent years. It will grow from $50.03 billion in 2023 to $65.60 billion in 2024 at a compound annual growth rate (CAGR) of 31.1%. The growth in the historic period can be attributed to increase use of semiconductor technology, rise of cloud computing, increase in mobile internet connectivity, increase investment in AI research and development, and increase consumer demand for smart features.
The artificial intelligence (AI) in smartphone and wearable market size is expected to see exponential growth in the next few years. It will grow to $194.28 billion in 2028 at a compound annual growth rate (CAGR) of 31.2%. The growth in the forecast period can be attributed to improvement in data privacy and security measures, increasing use of machine learning, increasing computing power, expanding 5G and future connectivity, and increasing use of AI integration. Major trends in the forecast period include advancements in health monitoring, advancements in natural language processing (NLP), advancements in predictive text and smart replies, and integration of augmented reality (AR).
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Scope Of Artificial Intelligence (AI) In Smartphone And Wearable Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) In Smartphone And Wearable Market Overview
Market Drivers –
The expansion of 5G networks is expected to propel the growth of the artificial intelligence (AI) in smartphone and wearable market going forward. The expansion of 5G networks is attributed to the increasing demand for higher data speeds, improved network reliability, enhanced connectivity for the Internet of Things (IoT), and the need to support emerging technologies such as augmented reality (AR), virtual reality (VR), and autonomous vehicles. 5G networks enhance AI in smartphones and wearables by providing faster data transfer speeds, lower latency, and more reliable connectivity, which enable real-time processing and more seamless integration of AI-driven applications and services. For instance, in February 2023, according to T-Mobile International AG, a Germany-based mobile telecommunications company, there were more than 1 billion active 5G subscriptions in 2023, which is expected to reach 5 billion 5G subscriptions by the end of 2028. Therefore, the expansion of 5G networks is driving the market for artificial intelligence (AI) in smartphone and wearable market.
Market Trends –
Major companies operating in the artificial intelligence (AI) in smartphone and wearable market are focused on developing advanced solutions such as adaptive display concepts to enhance user experience, improve functionality, and drive innovation in personal technology, enabling seamless integration of AI capabilities in everyday devices. Adaptive display concepts involve flexible screen technologies that adjust their form and size to meet user requirements, improving usability and experience in devices such as smartphones and wearables. For instance, in November 2023, Motorola Solutions Inc., a US-based technology company, launched a wearable smartphone with integrated artificial intelligence. This innovative device features a flexible POLED screen that can wrap around the wrist or stand-alone such as a mini tablet, allowing users to bend it into various shapes for hands-free use as a bracelet or watch. Equipped with artificial intelligence, it optimizes the user experience and includes advanced security through machine learning algorithms to prevent unauthorized access. By merging the functionalities of a smartphone with the convenience of wearable tech, Motorola aims to revolutionize user interaction and set a new standard for adaptable devices in the market.
The artificial intelligence (AI) in smartphone and wearable market covered in this report is segmented –
1) By Device Type: Smartphones, Wearables, Artificial Intelligence (AI) Assistants
2) By Operating System: Android, iPhone Operating System (iOS), Wear Operating System (OS)
3) By Deployment Model: On-Device Artificial Intelligence (AI), Cloud-Based Artificial Intelligence (AI), Hybrid Artificial Intelligence (AI)
4) By User Interface: Speech Recognition, Natural Language Understanding, Computer Vision, Haptic Feedback
5) By Application: Voice Control And Virtual Assistants, Camera And Image Enhancement, Natural Language Processing, Health And Fitness Monitoring, Security And Authentication
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) in smartphone and wearable market in 2023. The regions covered in the artificial intelligence (AI) in smartphone and wearable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) in smartphone and wearable market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co Ltd, Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Group Corporation, Lenovo Group Limited, LG Corporation, Intel Corporation, Qualcomm Incorporated, Xiaomi Corporation, Nokia Corporation, TCL Technology Group Corp., MediaTek Inc., Oppo, Vivo Communication Technology Co. Ltd., Garmin Ltd., Honor Device Co. Ltd., ARM Holdings plc, Fossil Group Inc., OnePlus Technology Co. Ltd., Meizu Technology Co. Ltd., Noise, Realme
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) In Smartphone And Wearable Market Report Structure
3. Artificial Intelligence (AI) In Smartphone And Wearable Market Trends And Strategies
4. Artificial Intelligence (AI) In Smartphone And Wearable Market – Macro Economic Scenario
5. Artificial Intelligence (AI) In Smartphone And Wearable Market Size And Growth
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27. Artificial Intelligence (AI) In Smartphone And Wearable Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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