AI in Telecommunication Market Trends: Predicted to Grow at a CAGR of 41.4% from 2022 to 2031, Report

AI simplifies telecom interfaces, cuts costs, and meets growing high-bandwidth demand as OTT service adoption rises, boosting market growth.

WILMINGTON, DE, UNITED STATES, October 28, 2024 /EINPresswire.com/ -- According to the report, the global AI in telecommunication market size generated $1.2 billion in 2021, and is estimated to reach $38.8 by 2031, witnessing a CAGR of 41.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Growing adoption of AI solutions in various telecom applications, the ability of AI to provide a simpler and easier interface in telecommunication and reduce the human intervention needed for network configuration and maintenance, and the growing demand for high bandwidth with more consumers turning to OTT services drive the growth of the global AI in telecommunication market. However, the incompatibility between telecommunication systems and AI technology hampers the global market growth. On the other hand, the increasing penetration of AI-enabled smartphones in the telecommunication industry, and the advent of 5G technology in smartphones likely to create potential opportunities for growth of the global market in the coming years.

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Artificial intelligence (AI) enables the telecom industry to extract insights from their vast data sets and made it easier to manage daily business and resolve issues more efficiently and also provide improved customer service and satisfaction. Artificial intelligence is an advanced technology that has the ability to make decisions as human intelligence. This technology focuses on creating an intelligent machine with the advancement in features such as speech recognition, visual recognition, image recognition, and translation between languages that are responsible for propelling the market growth. Furthermore, technology also has the potential to change the functioning and operation of various industrial sectors particularly in telecommunication.

Furthermore, key market players are adopting product launch, collaboration and other strategies for enhancing their services in the market and improving customer satisfaction. For instance, in September 2020, Nuance Communications, Inc. and Rakuten Mobile, Inc. formed a strategic partnership to add Nuance Intelligent Engagement AI Services to the Rakuten Communications Platform (RCP). As a result, RCP becomes the first-ever mobile communications, cloud-native, and virtualized platform to have Nuance Conversational and Engagement AI services built-in. Through the Nuance-Rakuten mobile partnership, RCP offers Rakuten Group companies the ability to leverage conversational AI services; engagement AI services; Nuance mix rapid AppDev environment, an enterprise-grade conversational AI tooling platform that enables organizations to rapidly develop, test, deploy, and optimize virtual assistant, natural language, and speech solutions, reducing development and optimization time by more than 50 percent.

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Covid-19 Scenario

1. The global artificial intelligence in telecommunication market saw a stable growth during the COVID-19 pandemic, owing to the increasing digital penetration and rise in automation.

2. Moreover, the pandemic led the telecommunications infrastructure to keep businesses, governments, and communities connected and operational. The social and financial disruption caused by the pandemic forced people to depend on technology such as AI for information and remote working.

3. AI also helped the telecom industry to reinvent customer relationships by identifying personalized needs and engaging with customers through hyper-personalized one-to-one contacts. It also helped configure fixed-line and mobile-network bundles that combine VPN, teleconferencing, and productivity apps.

Based on region, North America was the largest market in 2021, capturing more than one-third of the global AI in telecommunication market. The growth in the region can be attributed to the infrastructure development and technology adoption in countries like the U.S. and Canada. However, the market in Asia-Pacific is expected to lead in terms of revenue and manifest the fastest CAGR of 45.7% during the forecast period, owing to the growing digital and economic transformation of the region.

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Based on technology, the machine learning segment held the largest market share of more than two-fifths of the global AI in telecommunication market in 2021, and would maintain its dominance during the forecast period. This is because machine learning algorithms are designed to keep improving accuracy and efficiency. The data analytics segment, however, is projected to witness the largest CAGR of 46.1% from 2022 to 2031, as it helps telecom companies to increase profitability by optimizing network usage and services.

Based on deployment model, the on-premise segment held the largest market share of nearly three-fifths of the global AI in telecommunication market in 2021 and is expected to maintain its dominance during the forecast period. This is because it provides added security of data. The cloud segment, however, is projected to witness the largest CAGR of 43.8% from 2022 to 2031, as cloud provides flexibility, scalability, complete visibility, and efficiency to all processes.

Based on components, the solution segment was the largest market in 2021, contributing to more than two-thirds of the global AI in telecommunication market, and is expected to maintain its leadership status during the forecast period. This is due to the adoption of solutions by various end users for the automated processes. On the other hand, the service segment is projected to witness the fastest CAGR of 44.9% from 2022 to 2031, due to surge in the adoption of managed and professional services.

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Leading Market Players

Intel Corporation
Nuance Communications, Inc.
AT&T
Infosys Limited
ZTE Corporation
IBM Corporation
Google LLC
Microsoft
Salesforce, Inc.
Cisco Systems, Inc.

The report analyzes these key players of the global AI in telecommunication market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments by every market player.

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