Artificial Intelligence (AI) in Smartphone and Wearable Market Report 2024

This Artificial Intelligence (AI) In Smartphone And Wearable market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

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 $65.6 billion in 2024 at a compound annual growth rate (CAGR) of 31.1%. The growth during the historical period can be attributed to the increased use of semiconductor technology, the rise of cloud computing, the expansion of mobile internet connectivity, greater investment in AI research and development, and growing 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 improvements in data privacy and security measures, the increasing use of machine learning, rising computing power, the expansion of 5G and future connectivity, and the growing integration of AI. Key trends during the forecast period include advancements in health monitoring, natural language processing (NLP), predictive text and smart replies, and the integration of augmented reality (AR).

The growth of the artificial intelligence (AI) market in smartphones and wearables is expected to accelerate with the expansion of 5G networks. This expansion is driven by the increasing demand for faster data speeds, enhanced network reliability, better connectivity for the Internet of Things (IoT), and the need to support emerging technologies like augmented reality (AR), virtual reality (VR), and autonomous vehicles. The capabilities of 5G networks - such as faster data transfer, reduced latency, and more reliable connections - significantly enhance AI in smartphones and wearables by enabling real-time processing and more seamless integration of AI-powered applications and services. For example, T-Mobile International AG, a German mobile telecommunications company, reported in February 2023 that there were over 1 billion active 5G subscriptions, a number projected to reach 5 billion by the end of 2028. As a result, the growth of 5G networks is a key driver in the AI market for smartphones and wearables.

Leading companies in the artificial intelligence (AI) market for smartphones and wearables are concentrating on developing advanced solutions like adaptive display concepts to enhance user experience, boost functionality, and drive innovation in personal technology. These advancements enable the seamless integration of AI capabilities into everyday devices. Adaptive display concepts involve flexible screen technologies that adjust their form and size based on user needs, enhancing usability and experience in devices such as smartphones and wearables. For example, in November 2023, Motorola Solutions Inc., a US-based technology firm, introduced a wearable smartphone featuring integrated AI. This innovative device includes a flexible POLED screen that can wrap around the wrist or function as a standalone mini tablet, allowing users to bend it into various shapes for hands-free use, such as a bracelet or watch. Powered by AI, the device enhances user experience and incorporates advanced security features using machine learning algorithms to prevent unauthorized access. By combining the capabilities of a smartphone with the convenience of wearable technology, Motorola aims to redefine user interaction and set a new benchmark for adaptable devices in the market.

In May 2023, Noise, an India-based electronics manufacturing company, acquired SocialBoat for an undisclosed amount. With this acquisition, Noise aims to enhance wearable health tracking and offer personalized wellness recommendations by leveraging SocialBoat’s platform to analyze wearable data and provide tailored advice on nutrition, fitness, menstrual health, and overall well-being. SocialBoat is an India-based wellness and fitness services platform that offers personalized health and wellness recommendations using AI algorithms.

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.

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.

The countries covered in the artificial intelligence (AI) in smartphone and wearable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Artificial Intelligence (AI) in smartphones and wearables refers to the integration of advanced algorithms and machine learning techniques into mobile devices and wearable technology to improve functionality, user experience, and overall performance. AI enables these devices to perform tasks that typically require human intelligence, making them more intuitive and responsive.

The primary types of devices in the AI market for smartphones and wearables include smartphones, wearables, and AI assistants. Smartphones are mobile devices that combine the functions of a cell phone with a handheld computer, offering internet connectivity, touch screens, and various applications for communication, entertainment, and productivity. These devices operate on various systems, including Android, iPhone Operating System (iOS), and Wear Operating System (OS), and utilize on-device AI, cloud-based AI, and hybrid AI models. The user interfaces involve speech recognition, natural language understanding, computer vision, and haptic feedback, supporting applications like voice control and virtual assistants, camera and image enhancement, natural language processing, health and fitness monitoring, and security and authentication.

The AI in smartphone and wearable market research report is one of a series of new reports that provides AI in smartphone and wearable market statistics, including the AI in smartphone and wearable industry global market size, regional shares, competitors with AI in smartphone and wearable market share, detailed AI in smartphone and wearable market segments, market trends, and opportunities, and any further data you may need to thrive in the AI in smartphone and wearable industry. These AI in smartphone and wearable market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The artificial intelligence (AI) in smartphone and wearable market consists of revenues earned by entities by providing services such as voice assistants, health and fitness tracking, camera enhancements, predictive text, personalized recommendations, and advanced security features. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in smartphone and wearable market also includes sales of AI-powered cameras, AI-based processors, fitness trackers, and augmented reality (AR) glasses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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