07 May 2021
Visiongain has published a new report on Artificial Intelligence (AI) in Telecommunication Market Report to 2031: Forecasts by component (Solution, Services), by deployment mode (Cloud, On-premises), by application (Network Security, Network Optimization, Customer Analytics, Virtual Assistance, Self-Diagnostics, Others). PLUS Profiles of Leading Artificial Intelligence in Telecommunication Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global artificial intelligence in telecommunication market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Artificial intelligence is an advanced technology which is largely implemented in the telecommunication industry, as it helps in identifying & reacting to problems and related services by analysing customer data. Moreover, artificial intelligence technology is primarily focused towards customer service, in the front end, and network performance in telecommunication sector. Furthermore, key players in the market has involved in major partnership, product developments & launches with an AI-based solutions. For instance, in 2019, Vodafone which is a British multinational telecommunications company projected 68% improvement in customer satisfaction after introducing its chatbot TOBi, which is an AI-based product in the market.
Rise in demand to eliminate human error from the telecommunication networks, increase in the adoption of artificial intelligence for various applications, and surge in necessity to monitor content on the telecommunication network are some of the major factors driving the market growth. On the contrary, to provide personalized user experience, better customer service communication & improve the customer engagement by implementing AI technology acts a major opportunistic factors to the market in the upcoming years.
COVID-19 Impact on Global Artificial Intelligence in Telecommunication Market
In the wake of COVID-19 pandemic situation, customer has experienced tremendous potential for transformation in the telecommunication industry. The global health crisis has significant impact in the industry, as the demand for voice & data communications has increased at a fastest growth rate and telecom companies have responded with technological savvy and urgency in order to sustain the market. In addition, telecom companies supported governments and health care systems by providing data-based insights on people’s movements, high-speed connectivity & devices, in order to tackle the spread of the disease.
Rise in demand to eliminate human error from the telecommunication networks
As AI is largely implemented in the telecommunication industry, the demand for controlling & eliminating human error and make efficient decisions via AI technology is continuing to rise in the market. Moreover, the human error of the equation without removing human control while designing network acts as another major factor fuelling the growth of AI in telecommunication industry.
Increased adoption of artificial intelligence for various applications
With growing awareness among telecommunication enterprises regarding the benefits & features of the AI technology, telecom companies are adopting this technology for various applications such as network optimization, preventive maintenance, virtual assistants, and Robotic process automation (RPA), among others. Therefore, utilization of AI-enabled solutions & is adoption are driving the market growth.
Advent of 5G technologies in mobile networks
The advent of 5G integrating artificial intelligence (AI) techniques into networks & introducing new challenges for mobile communications service providers in the market. Therefore, with this growing advancement in network services, the key players in the market are expected to have an immense opportunities in the upcoming years. For instance, in 2019, Ericsson, which is one of the leading multinational firm of telecommunications projected that nearly 53% of telecom companies expected to have fully integrated aspect of AI into their networks by the end of 2020. This, as a result anticipated to create lucrative opportunities to the global artificial intelligence in telecommunication market.
Expansion of existing products & services
The key players in the market have an opportunity to expand existing product & services in order to provide consumer with better communication services & personalized user experience to improve the customer engagement in the market. Therefore, expanding the solutions & developing platforms in AI are expected to boost the market growth.
Some of the companies profiled in the report include AT&T Intellectual Property, Amdocs, Huawei Technologies Co., Ltd., Nuance Communications, IBM Corporation, Microsoft, INFOSYS LIMITED, Intel Corporation, Google, and Cisco Systems, Inc.
In November 2020, Guavus-IQ analytics developed new cloud-based analytics on their subscribers & network operation via on Amazon Web Services (AWS). In addition, this product is designed to cut costs, grow revenue through the use of explainable AI (XAI), improve customer experience, and advanced cloud-enabled analytics on subscribers & network operations in the market.
In July 2020, Orange, which is France's biggest telecoms company and Google together announced a strategic partnership towards covering artificial intelligence (AI) and cloud computing services. In addition, Google will provide artificial intelligence tools, cloud technologies, and analytics to Orange, which will help in building a next-generation data analytics and machine-learning platform in the market.
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