The hype around AI is growing with each passing day. With an expected double-digit growth in the near term, artificial intelligence is likely to influence a lot of sectors. Recent reports suggest that the markets for AI-enabled PCs and smartphones are expected to expand quickly.

AI PC and smartphone sales to ascend in the future

According to a report by Yahoo Finance, in 2024 and 2025, the markets for AI smartphones and PCs are predicted to grow rapidly. This is in line with research firm Gartner’s data, which projects that in 2024, smartphone manufacturers will ship over 240 million generative AI handsets, while AI PC vendors will ship 54.5 million units.

With an ascending demand and an ever-growing market, big tech giants are likely to depend upon revenue generated from artificial intelligence products. Chip makers like Intel and Qualcomm are already in the process of incorporating AI-related products in laptops and computer chips. Following the same suit, Google and Apple are constantly developing AI bots encrypted smartphones. The development bolsters hope that this will appeal more to their customer base.

Tech giants prepare themselves to mint AI revenue

Most publicly listed companies have some or other exposure to AI-related tools and integration at present. However, CoinGape previously reported that most of these companies like Google, Meta, and China’s Baidu don’t have generative artificial intelligence as a significant revenue contributor today. However, as the market for these products evolves, so will the sales and capital generation. Amid the forecast of higher sales, tech behemoths are likely to mint a good chunk of their revenue from artificial intelligence-rated products.

The soaring demand in this market has been reflected in the way investors made investment decisions last year. Market participants have long placed bets on AI revenue models of various companies. This led to a soaring uplift on Nasdaq which, according to CNBC, climbed 43% in 2023. This was one of the sharpest rallies for the tech-heavy index in 20 years.

AI also leads to economic growth

Artificial intelligence is expected to larger financial markets and not stock or company financials. At present, countries across the globe are pricing in funds to help generate more AI exports and imports. The global artificial intelligence industry is expected to develop at a compound annual growth rate (CAGR) of 37.3% between 2023 and 2030. By 2030, it is anticipated to reach $1,811.8 billion. Forbes predicts that China will gain the most from AI. By 2030, the nation’s GDP will have increased by 26%, and additionally, North America will gain by 14.5%. When combined, these benefits will come to $10.7 trillion, or more than 70% of the impact on the world economy.

The post AI Hype to Influence PC and Smartphone Markets in the Future: Report appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am