Growing adoption of AI solutions in various telecom applications, the ability of AI to provide a simpler and easier interface in telecommunication, and the growing demand for high bandwidth with more consumers turning to OTT services drive the growth of the global AI in telecommunication market. Based on region, North America was the largest market in 2021.
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According to the report published by Allied Market Research, the global AI in telecommunication market generated t $1.2 billion in 2021, and is projected to reach $38.8 billion by 2031, growing at a CAGR of 41.4% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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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.
The report offers detailed segmentation of the global AI in telecommunication market based on component, deployment mode, technology, application, and region.
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. On the other hand, the service segment is projected to witness the fastest CAGR of 44.9% from 2022 to 2031.
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. The cloud segment, however, is projected to witness the largest CAGR of 43.8% from 2022 to 2031.
Based on region, North America was the largest market in 2021, capturing more than one-third of the global AI in telecommunication market. 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.
Leading Market Players
- Intel Corporation
- Nuance Communications, Inc.
- AT&T
- Infosys Limited
- ZTE Corporation
- IBM Corporation
- Google LLC
- Microsoft
- Salesforce, Inc.
- Cisco Systems, Inc.
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