GenAI Gears Up to Conquer Smartphone Market

GenAI smartphones are set to be 4% in 2023, doubling in 2024, aiming for 40% and 500 million shipments by 2027.

Preliminary data shows GenAI smartphone shipments surpassing 100 million units in 2024, with an 83% CAGR to 522 million units by 2027.

GenAI smartphones, with generative AI, focus on applications like information provisioning, image building, live translation, and personal assistants.

Samsung and Qualcomm lead the GenAI race, with Samsung targeting 50% market share for two years, followed by key Chinese OEMs.

EY India's report predicts Gen AI could contribute $1.2-1.5 trillion to India's GDP by FY30, leveraging its data advantage.