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.

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

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

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

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

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