According to a new report published by Allied Market Research, the AI in telecommunication market size was valued at $1.2 billion in 2021, and is estimated to reach $38.8 billion by 2031, growing at a CAGR of 41.4% from 2022 to 2031.
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.
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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.
Moreover, the increasing penetration of AI-enabled smartphones in the telecommunication industry, and the advent of 5G technology in smartphones are expected to provide major growth opportunities for the growth of the market. Advancements such as 5G technology in mobile and the rising need to monitor content on the telecommunication network to eliminate human error from telecommunication are driving the growth of the market. For instance, the Chinese government trying to improve its network services and telecommunication services; hence, China Telecom Corporation has started a new 5G base station in Lanzhou city. Therefore, these factors are expected to provide numerous opportunities for the expansion of the AI in telecommunication market during the forecast period.
The market for AI in telecommunication will expand as advancements such as 5G technology in smartphones will rise. AI & ML (machine learning) technologies are expected to play a significant role in the integration of 5G cellular networking technologies and automation of the networks. Furthermore, Telecomm companies are integrating AI technologies in their 5G cellular networks to propose telecommunication services & tools. Therefore, advancements such as 5G technology in smartphones will provide lucrative growth opportunities for the market in the upcoming years.
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Covid-19 Scenario
- 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.
- 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.
- 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.
Leading AI in Telecommunication 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 is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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.
AI in Telecommunication Market Segmentation:
Based on component, 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.
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.
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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.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the global AI in telecommunication market share along with current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global AI in telecommunication market trends are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the AI in telecommunication market.
- An extensive analysis of the key segments of the industry helps to understand the global AI in telecommunication market forecast.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm the utmost data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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