In a recent published report, Kenneth Research has updated the market report for Artificial Intelligence in Telecommunication Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Artificial Intelligence in Telecommunication Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market Synopsis
Artificial intelligence is being widely used in various industries such as healthcare, finance, automotive, telecommunication among others. AI technology has the power to revolutionize the industrial processes by increasing productivity and operational efficiencies, saves money and time by automating industrial processes, helps businesses in faster decision making. In telecommunication industry, wireless communication has deep impact on the industry and its users, yet it is a complex invention. To solve the complex nature of wireless systems incorporate the use of AI in telecommunication industry. AI in telecommunication leads to intelligent decision making to manage dynamic network traffic and resources and brings automation in the industry to reduce cost and increase efficiency.
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The key drivers for the growth of AI in telecommunication is increasing demand for autonomously driven network solution. The networks in telecommunication are becoming complex in nature and are expanding in size which outstripping the human capabilities to manage such large size and complex networks. Hence, there is a need for highly sophisticated, intelligent and autonomous network driven solutions which can be provided using artificial intelligence in telecommunication. By use of these autonomous and intelligent network solutions, telecommunication companies are improving their speed of service, quality of network and enhancing customer experience with reduction in operating cost.
In today’s world, customer interact online using various social media platforms such as Facebook, twitter and blogs where they talk about their experiences and issues about the service providers, online. Thus, service providers must have the strategy and tools to collect such large amount of data and analyse it to provide attractive services and improve their customer retention. The other sources of data for telecom service providers are user call reports and network data. This data helps to get insights of network performance, which helps to reduce customer churn and increase profitability. Therefore, there is increasing need for data-driven solutions which is driving the growth of AI in telecommunication market.Global AI in telecommunication market is expected to reach USD 1 billion by 2023 growing with 32% CAGR during the forecast period 2018–2023.
Segmentation.
The global AI in telecommunication market study aims at different segments such as component, deployment mode, technology, application, regions, and estimating market growth across these segments.
By component, the market is segmented into solution and services. The solution is further sub-segmented into network optimization, network security, SDN (software-defined network) & NFV (network function virtualization), and others. The services are further sub-segmented into professional service and managed services.
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By deployment mode, the market is segmented into cloud and on-premise.
By technology, the market is segmented into machine learning (ML) & deep learning (DL) and natural language processing (NLP).
By application, the market is segmented into traffic classification, resource utilization & network optimization, anomaly detection, predictive maintenance, network orchestration and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional analysis
The global market for AI in telecommnuication is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of AI in telecommnuication market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the global market of AI in telecommunication due to the presence of large number of key players such as IBM corporation, Microsoft Corporation and Cisco Systems which provides AI enabled solutions for telecommunication industry. Asia-Pacific is expected to be the fastest growing region in the forecast period for global AI in telecommunication market, due to digital transformation in various countries of this regions which enables the use of AI driven solutions in telecommunication.
Key players
The prominent players in the global AI for telecommunication market are, Huawei Technologies Co. Ltd (China), IBM Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Cisco Systems (US), Nuance Communication (US), ZTE Corporation (China), H2O.ai (US), Salesforce (US), Infosys Limited (India), Google LLC (US).
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Intended Audience
Ai in telecommunication solution and service vendors
Application developers
System integrator
Government agencies
Application end-users
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Global Ai In Telecommunication Market Is Estimated To Grow At 32% Cagr During The Forecast Period…
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