The global AI in telecommunication market will touch USD 10.4 billion at a healthy 43.10% CAGR in the forecast period (2023- 2030), states the latest Market Research Future (MRFR) report.
The COVID-19 pandemic possessed a positive effect on the AI in telecommunication market. For instance, Google declared the expansion of the rapid reply virtual manager in the Google cloud. The rapid response virtual manager will allow call motivations in quickly executing and manufacturing a modified contact community AI virtual specialist for reacting to questions and issues that clients may encounter owing to COVID-19 over visits, social channels, and voice. Organizations that offer business solutions and better network connectivity to end users, crucial to modify their attention to offer better applications as well as home-based solutions to end users. All these are adding to market growth. The current scenario is likely to have positive impact on the telecommunication industry and fuel market growth.
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Increase in AI-Enabled Smartphones to Boost Market Growth
The growing number of AI-enabled smartphones with several features like voice recognition, robust security, image recognition, and others in comparison to traditional phones will boost market growth over the forecast period.
Rising Need to Monitor Content on Telecommunication to offer Robust Opportunities
The growing need for monitoring content on telecommunication network along with the urge for eliminating human error from the telecommunication networks will add to the telecommunications market share over the forecast period.
Incompatibility Concerns to act as Market Restraint
Incompatibility concerns between the AI technology and telecommunication systems that may generate integration complexities in AI in telecommunication solutions may act as market restraint over the forecast period.
Lack of Cheaper Hardware to act as Market Challenge
The lack of availability of affordable hardware to develop artificial intelligence enabled products may act as a market challenge over the forecast period.
The global AI in telecommunication market is segmented based on component, deployment, technology, and application.
By component, the services segment will lead the market over the forecast period.
By deployment, the cloud deployment segment will dominate the market over the forecast period.
By technology, the natural language processing (NLP) segment will spearhead the market over the forecast period.
By application, the global AI in telecommunication market is segmented into anomaly detection, predictive maintenance, and traffic classification.
North America to Spearhead AI in Telecommunication Market
North America will spearhead the market over the forecast period. The presence of several large key players that offer AI enabled solutions for telecommunication industry, digital transformation in various countries that allows the use of AI driven solutions in telecommunication, the effective use of AI in telecommunication technology in different applications like virtual assistance, customer diagnostics, network security, and network optimization, early adoption of advanced technologies, and increasing number of telecom companies utilizing automation & artificial intelligence for customer service as well as network optimization purposes are adding to the global AI in telecommunication market growth in the region.
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Eminent players profiled in the global AI in telecommunication market report include Huawei Technologies Co. Ltd (China), IBM Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Cisco Systems (US), Nuance Communication (US), ZTE Corporation (China), H2O.ai (US), Salesforce (US), Infosys Limited (India), Google LLC (US).
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