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Home Artificial Intelligence

AI in Telecommunication Market Size, SWOT Analysis, Industry Synopsis, Forecast to 2031

December 4, 2024
in Artificial Intelligence, OpenPR, Web3
Reading Time: 7 mins read
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AI in Telecommunication Market

AI in Telecommunication Market

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 can 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 market growth.

Download Sample Report (Get Full Insights in PDF – 280 Pages) at: https://www.alliedmarketresearch.com/request-sample/A09352

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.

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. Since advancements such as 5G technology in mobile and the rising need to monitor content on the tale communication network to eliminate human error from telecommunication are driving the growth of the market. For an 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.

If you have any special requirements, Request customization: https://www.alliedmarketresearch.com/request-for-customization/A09352

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.

By deployment mode, the on-premise segment dominated the growth of the AI in telecommunication industry in 2021, and is expected to maintain its dominance in the upcoming years, owing to high level security provided by on-premise model. However, the cloud segment is expected to witness highest growth in the AI in telecommunication market forecast, owing to the rapid adoption of cloud services for remote work as it provide flexibility and scalibilty for businesses.

North America dominates the AI in telecommunication industry. Growth of the market in this region is attributed to several factors such as increase in digitalization and adoption of advanced technologies such as AI and ML by the end users. Moreover, presence of top key players is providing ample growth opportunities for the market growth. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to rapid expansion of digital infrastructure across the region.

Access the full summary at: https://www.alliedmarketresearch.com/ai-in-telecommunication-market-A09352#toc

Due to the COVID-19 pandemic, restrictive containment measures involving social distancing, remote working, and the closure of commercial activities forced companies to rearrange their operations to initiate remote working. During this period, telecommunications technology, remote working, and video conferencing have fast emerged as essential business enablers. Moreover, streaming services such as Netflix had also gained a rise among millennials, putting the telecom industry in the center. Thus, the AI in telecommunication market saw a rise in growth due to the pandemic. Hence, the COVID-19 pandemic had a positive impact on the AI in telecommunication market.

Key findings of the study

1. By component, the solution segment led the AI in telecommunication market in terms of revenue in 2021.

2. By deployment model, the on-premises segment accounted for the highest AI in telecommunication market share in 2021.

3. By region, North America generated the highest revenue in 2021.

Buy Now & Get Up to 50% off on This Report: https://www.alliedmarketresearch.com/ai-in-telecommunication-market/purchase-options

Contact:
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help@alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

This release was published on openPR.

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