On-device GenAI to hit 110 million smartphone shipments in 2024

The technology community – both innovators and implementers – is at a critical juncture in 2024. Global market pressures are starting to ease, but persistent geopolitical threats are hindering progress. As a result, companies are under pressure to make the right near-term decisions to drive positive impact and ROI within their organizations.

In its new whitepaper, 38 Transformative Technology Stats You Need to Know for 2024, global technology intelligence firm ABI Research identifies key forecasts to help companies and organizations make winning, informed decisions that impact the near term to seize market shifts, choose the best technologies and partners, achieve quick wins, meet robust ROI requirements, and use technology for aggressive growth or to safeguard against geopolitical shocks.

“This paper provides a selection of forecasts from ABI Research that can help companies and organizations make contextual decisions with the benefit of rigorously produced hard data. The rapid rise of on-device generative AI smartphones, increased adoption of AR and VR HMDs, and a big bet on decarbonization technologies are just some of the many changes on the horizon of which companies and organizations must be aware to make mid-course corrections or complete roadmaps,” Stuart Carlaw, Chief Research Officer at ABI Research explains.

5G Devices, Smartphones, & Wearables:

The market penetration of on-device generative AI is set to reach 110 million smartphone shipments in 2024, driven by the launch of chipsets from Qualcomm and MediaTek, while Google has brought these features to its platform and Apple will likely follow with its own solutions in 2024. “This first wave of generative AI is designed mostly to support productivity applications, not just improved experiences. Democratization of on-device generative AI across smartphone tiers will be aided by a move to smaller, tiny generative AI models, which will boost market penetration to account for 90% of ship­ments by 2030,” explains ABI Research Director David McQueen.

Augmented and Virtual Reality:

Total AR and VR HMD shipments will surpass 69 million by 2028, as Apple Vision Pro spurs interest in VR and mixed reality. “Proven enterprise use cases remain valuable, particularly in training and remote assistance using AR and VR devices. Consumer adoption, traditionally slow, has seen some progress in VR gaming. Smart glasses are not yet ready for the mass market but are viable for enterprise use. Apple’s Vision Pro suggests the possibility of a versatile XR device with spatial computing in the future. Price is a concern, but ongoing updates and competition over the next five years promise affordability. With time in the market to nurture developer ecosystems and secure content partnerships, content scarcity should not be an issue,” says ABI Research Director Eric Abbruzzese.

Sustainability for Industrial Markets:

The decarbonization technology market will grow from US$1.45 trillion in 2022 to US$4.09 trillion in 2032 at a CAGR of 10.93%. According to ABI Research Analyst Alex McQueen, “The decarbonization technology market is being driven by exponentially increas­ing annual investments, decreasing costs of renewable energy infrastructure, and growing global commitments from industrial companies to reduce emissions and develop sustainable products. The growth in strict environmental regulations, mainly in developed countries, also serves as a key driver of the decarbonization technology market growth.”

“Our unique, deep, comprehensive, relevant, and timely forecasts provide our clients with the tools to make better decisions when it matters most. We look forward to supporting our clients in 2024 as they outperform their competition,” Carlaw concludes. ABI Research