Mobile Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Technology Node(20–28nm, 10nm, 7nm, and Others), By Application(Smartphones, Cameras, Drones, Automobile), By Component(Hardware, Software, and Services), By Region - Industry Forecast 2024-2031

Mobile Artificial Intelligence (AI) Market Drivers

Growing Demand for AI-powered Applications 

• Proliferation of AI-powered applications in various industries including entertainment, healthcare and finance is driving the market. Mobile devices are increasingly being integrated with applications such as facial recognition, voice assistants and augmented reality, driving the market growth. 

Rise in the Expansion of 5G Technology 

• The proliferation of 5G networks is a major driver of the market. 5G technology provides high-speed connectivity and low latency required for advanced AI applications, and powers a seamless and responsive AI experience on mobile devices. 

Restraints 

Increased Development Costs 

• The huge investments required to develop and integrate AI technology into mobile devices can be a barrier for many companies. High R&D costs can restrain market growth, especially for smaller players. 

Data Privacy Issues 

• Data privacy and security issues are the major restraints in the market. The vast amount of personal data collected and processed by AI applications is raising concerns among consumers and regulators, potentially hampering the widespread adoption of mobile AI technologies. 

Limited Use of Power 

• Despite the advances, there are still limitations in the capabilities of mobile devices compared to larger dedicated AI systems. These limitations can limit the complexity and capabilities of AI applications on mobile devices, affecting their performance and user satisfaction.