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Report Overview: Artificial Intelligence in Telecommunication MarketThe global artificial intelligence in telecommunication market size was valued at USD 560.9 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 27.3% from 2021 to 2027. Telecommunications is one of the fastest-growing industries that use AI in many aspects of their business, including improving customer experience and network reliability. Telecom companies use AI primarily for customer service applications. For instance, use of chatbots and virtual assistants to address a massive number of support requests for installation, maintenance, and troubleshooting. Also, virtual assistants scale and automate responses to support claims, which improves customer experience and cuts business expenses. For instance, Vodafone Ltd. experienced about 68% improvement in customer experience after introducing its chatbot, called TOBi, for handling customer queries. Telecom companies can reduce operational costs while improving the customer experience by implementing AI and automation. Artificial intelligence has already helped the core of the telecommunication business, with machines doing human tasks, such as deciding the route traffic by reading network content. It is also helping in building the self-optimizing network, which can structure the system based on existing conditions as per the limits set by the respective designer. It supports network operations to detect issues, such as Service-Level Agreement (SLA) breaches, and diagnose the root causes. Furthermore, growing Over-The-Top (OTT) services, such as video streaming, have transformed the dissemination and consumption of audio and video content. With more consumers turning to OTT services, consumer demand for bandwidth has grown considerably. Carrying such ever-growing traffic from OTT services leads to high operational spending (OpEx) for the telecommunication industry. AI helps the telecom industry to reduce operational costs by minimizing the human intervention needed for network configuration and maintenance. Also, automation enables telecom companies to onboard customers faster while introducing new services in a shorter time. The Telecom industry is in the middle of a transformation from the fourth generation (4G) to fifth-generation (5G) of mobile communications. 5G technology is expected to provide higher data transmission rates with ultra-low latency rates. Telecom companies are working for building such infrastructure that supports every vertical controlled by the Internet of Things (IoT). For instance, in March 2020, Google collaborated with AT&T Intellectual Property to help enterprises leverage Google Cloud’s technologies using the 5G network connectivity. Both the companies are developing 5G solutions by combining the 5G network capabilities of AT&T Intellectual Property and Google Cloud’s capabilities in analytics, AI/machine learning, and networking.
Application Insights: Artificial Intelligence in Telecommunication MarketBased on application, the market has been segmented into network security, network optimization, customer analytics, virtual assistance, self-diagnostics, and others. The virtual assistance segment is expected to portray the fastest growth over the forecast period due to the fact that customer service automation creates substantial savings for telecom companies. Also, customer support chatbots in the communication industry can be trained adequately as machine learning algorithms can automate inquiries and route customers to the optimal agent. The customer analytics segment is expected to have the highest market share owing to the growing need for real-time behavioral insights. Artificial intelligence enables operators to collect and analyze the customer’s data from a subscribers intelligencer perspective. This information can be further utilized in several scenarios, such as advertisements and personalized offers for the subscriber. Also, this information can be used by operators to achieve network optimization with better utilization of network resources.
Regional Insights: Artificial Intelligence in Telecommunication MarketNorth America accounted for the largest share in 2019 and will maintain dominance throughout the forecast years as the region is one of the early adopters of advanced technologies. Moreover, a growing number of telecom companies using automation and AI for customer service and network optimization purposes will support the region’s growth. For instance, in 2018, AT&T Intellectual Property launched the mobile 5G, supported by edge AI computing in the U.S. On the other hand, Asia Pacific is projected to demonstrate growth at the fastest CAGR over the forecast period 2021-2027. This growth is attributed to the rapid technological advancements in emerging economies, such as China and India. For instance, Huawei Technologies Co., Ltd., a global provider of telecommunications equipment and consumer electronics, is cooperating with China Telecom Corporation Ltd., internet access and mobile telecommunications services provider. This collaboration is anticipated to explore the radio cell capacity prediction and wireless network cell anomaly detection, based on the Network AI Engine (NAIE).
Key Companies & Market Share Insights: Artificial Intelligence in Telecommunication MarketThe key industry participants in the market include IBM Corp.; Microsoft Corp.; Intel Corp.; Google LLC; AT&T Intellectual Property; Cisco Systems, Inc.; Nuance Communications, Inc.; Evolv Technology Solutions, Inc.; H2O.ai; Infosys Ltd.; Salesforce.com, Inc.; and NVIDIA Corp. Vendors in the market are focusing on increasing the customer base through various strategic initiatives, such as partnerships, M&A, and collaborations. For instance, in May 2019, Vodafone Ltd. signed an outsourcing deal with IBM Corp. This partnership is anticipated to provide the former company with a hybrid cloud-based digital platform to support better customer engagement and enhance business efficiency. Some of the prominent players in the artificial intelligence in the telecommunication market include:
Key companies Profiled: Artificial Intelligence in Telecommunication Market Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global Artificial Intelligence (AI) in telecommunication market report based on application and region:
- IBM Corporation
- Intel Corporation
- AT&T Intellectual Property
- Cisco Systems
- Nuance Communications, Inc.
- Evolv Technology Solutions, Inc.
- Infosys Limited
- Salesforce.com, Inc.
- NVIDIA Corporation
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Network Security
- Network Optimization
- Customer Analytics
- Virtual Assistance
Table of Contents Chapter 1 Methodology and Scope 1.1 Information Procurement and Research Scope 1.2 Information Analysis 1.3 Market formulation & data visualization 1.4 Market Scope and Assumptions 1.4.1 Secondary Sources 1.4.2 Primary SourcesChapter 2 Executive Summary 2.1 AI in Telecommunication - Industry Snapshot & Key Buying Criteria, 2016 - 2027 2.2 Global 2.2.1 Glo | read more...