The company IDC has released its forecasts regarding the new GenAI smartphones, stating that this market segment will grow by 344% by the end of 2024. For IDC, the forecast sees an increase in new smartphone models that incorporate some Generative Artificial Intelligence functions on the device.
GenAI smartphone: IDC forecasts speak of a rapidly growing market
While AI startups are riding the wave of success, it seems that devices with AI functions could follow the same path.
To testify to this theory is the report from the market information company IDC, which has published its forecasts on GenAI smartphones.
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Specifically, it is highlighted a rapid adoption of GenAI smartphones, with a forecasted growth of 344% for this segment to capture 18% of the total market by the end of 2024.
Not only that, Anthony Scarsella, director of IDC research, emphasized that most flagship models will likely incorporate some GenAI features on the device.
“Although GenAI smartphones are relatively new to the market, high-end flagships will continue to adopt GenAI features to stand out from the crowd”
GenAI smartphone: high prices favor the “premiumisation” of the sector
Another observation made by IDC concerns the prices of the new GenAI smartphones, which will undoubtedly be higher.
It is about his forecast on the average selling price which, according to IDC, will also be more than double compared to non-GenAI devices.
In this way, IDC wants to emphasize that the trend is the premiumisation of the sector, so that users will get a device capable of standing out from the crowd.
The forecasts by IDC on the strong growth of new GenAI smartphones are based on current recorded trends. In fact, it seems that in Q1 2024, devices with Generative Artificial Intelligence functions have already grown by 12%, recording a further growth of +9% in Q2 2024.
The probable valuation of over 100 billion dollars of OpenAI
In the meantime, a few days ago, it emerged that the Artificial Intelligence startup behind ChatGPT, OpenAI, is in talks for a new funding round.
This is a fundraising led by Thrive Capital, which is expected to invest 1 billion dollars, and which sees the participation of other investors such as Microsoft.
This round of financing could raise the valuation of OpenAi to over 100 billion dollars.
