CHENNAI – In a recent industry report by Counterpoint Research, the revolutionary year 2024 has been heralded as a groundbreaking year for smartphones, poised to witness a paradigm shift with the introduction of GenAI-based devices. These futuristic smartphones are primed to Revolutionary Year the tech landscape, offering a host of innovative features and capabilities that extend beyond conventional AI-enabled devices.
Projections unveiled in the “GenAI Smartphone Shipments and Insights” report anticipate a surge in GenAI smartphone shipments, exceeding 100 million units in 2024 alone. With a staggering Compound Annual Growth Rate (CAGR) of 83%, the report foresees shipments skyrocketing to a monumental 522 million units by 2027.
Distinguishing GenAI smartphones from their AI counterparts, Counterpoint Research defines these devices as a specialized subset leveraging Generative AI. Unlike conventional AI-powered phones limited to pre-programmed responses or predefined tasks, GenAI smartphones harness Generative AI to craft original content autonomously. These devices will integrate size-optimized AI models and boast specific hardware specifications, heralding a new era of smartphone innovation.
The report highlights an array of anticipated GenAI applications, spanning information provisioning, image creation, live translation, and personalized assistant functionalities. These applications promise to deliver a more tailored user experience, featuring smarter digital assistants with unique personalities, conversational styles, and refined content recommendations. However, the deployment of such advanced capabilities may encounter challenges, including memory constraints, prompting a potential hybrid approach in certain scenarios, as outlined in the report.
Market dynamics indicate Samsung and Qualcomm taking the lead due to their existing product offerings and capabilities, positioning them as primary movers in this transformative landscape. Samsung is projected to secure nearly 50% market share for the next two years, closely followed by prominent Chinese OEMs such as Xiaomi, vivo, HONOR, and OPPO. Meanwhile, Qualcomm is anticipated to dominate with over 80% of the GenAI smartphone market share in the coming years.
Counterpoint Research’s Director, Tarun Pathak, emphasized that while the share of GenAI smartphones might remain in the single digits within the overall smartphone market initially, the true anticipation lies in the groundbreaking technological advancements and marketing fervor expected to unfold.
Peter Richardson, VP, and Research Director, remarked, “AI integration in smartphones has been evolving for years. However, the imminent emergence of smartphones optimized explicitly for running GenAI models marks a pivotal leap in smartphone evolution, augmenting traditional AI functionalities.”
As the tech sphere eagerly awaits the arrival of GenAI smartphones, 2024 is poised to witness an unprecedented Revolutionary Year in smartphone technology, heralding an era of unparalleled innovation and personalized experiences for users worldwide.