Artificial intelligence in telecommunication market is predicted to grow US$ 10,399.9 Mn by 2032

The global artificial intelligence in telecommunication market is expected to be worth US$ 918.6 million in 2022 and US$ 10,399.9 million by 2032, with a 27.5 percent CAGR from 2022 to 2032.

The adoption of artificial intelligence in telecommunication is increasing as telecom companies apply AI in various parts of their operations, including improving customer satisfaction and network stability. The demand for artificial intelligence in telecommunication is expected to expand, as AI is predominantly used in customer care applications by telecom companies.

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Furthermore, the usage of chatbots and virtual assistants to manage a large volume of installation, maintenance, and troubleshooting support requests is one of the significant developments in artificial intelligence in telecommunication market. Furthermore, virtual assistants scale and automate responses to help requests, increasing customer happiness and saving business costs. As a result, artificial intelligence in telecommunication market share is expected to develop significantly through 2032.

The development of context-aware AI systems that are intelligent and can quickly determine their condition is one of the most recent trends in artificial intelligence in the telecommunication market. These systems use the observe-orient-decide-act approach to create decisions. As a result, during the projection period, demand for artificial intelligence in telecommunication is expected to rise.

Downtime may be minimized using AI, which is another element driving the growth of artificial intelligence in telecommunication market size. Furthermore, maintenance work can be accomplished quickly by employing context-aware technology and IoT procedures.

Many businesses employ drones to perform network repairs. Comarch is one such startup that uses AI-enabled drones to provide telecom network maintenance solutions.

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Key Takeaways from Market Study

· Due to the rising need for real-time behavioral insights, the consumer analytics category is expected to have the greatest market share by 2032, with a valuation of US$ 2,294.4 Mn.

· As customer service automation saves costs for telecom companies, the virtual assistance market is expected to grow the fastest during the projection period, at a CAGR of 24.5 percent.

· Europe is expected to dominate the artificial intelligence market in telecommunication by 2032, with a CAGR of 25.7 percent between 2022 and 2032. European telecommunication companies have been observed prioritizing investments in order to make better data-informed decisions.

· By 2032, North America is expected to account for the second highest portion, with a value of US$ 1,802.7 Mn.

· The Middle East and Africa artificial intelligence in telecommunication market is expected to be valued at US$ 419.6 Mn by 2022-2032, growing at the fastest CAGR of 31.1 percent.

“The deployment of 5G technology in mobile networks, as well as the increasing demand for effective and efficient network management solutions, has fueled the expansion of artificial intelligence in the telecommunication business. Increasing smartphone AI-embedded adoption and increased acceptance of AI solutions in various telecom applications are predicted to drive demand for artificial intelligence in telecommunication.”- Future Market Insights Analyst.

Competitive Landscape

The presence of multiple players in artificial intelligence in telecommunication market makes it competitive. Market participants are attempting to increase their client base through a variety of strategic activities such as partnerships, mergers and acquisitions, and collaborations.

Furthermore, with the right forecasts from AI systems, users can obtain insight into their decisions before implementing them in real life. Telecom companies can get a competitive advantage by exploiting AI’s predictive capabilities.

The following companies are among the major players in the global artificial intelligence in telecommunication market: 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.

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Recent Developments in Artificial Intelligence in Telecommunication Market:

Ø In March 2020, Google partnered with AT&T Intellectual Property to let enterprises use Google Cloud’s technology by leveraging 5G network connectivity. AT&T Intellectual Property’s 5G network capabilities and Google Cloud’s strengths in analytics, AI/machine learning, and networking are being combined to create 5G solutions.

Ø In May 2021, Nokia launched AVA Telco AI as a Service, which provides cloud-based artificial intelligence solutions to communication service providers (CSPs) to automate capacity planning, network management, and service assurance.

Ø Vodafone Group launched ‘TOBi,’ a machine learning chatbot that helps human customer support professionals to focus on more complex scenarios, in June 2019.