Dublin, April 03, 2023 (GLOBE NEWSWIRE) -- The "Global AI in Telecommunication Market Size, Share & Industry Trends Analysis Report By Technology, By Deployment, By Component, By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global AI in Telecommunication Market size is expected to reach $10 billion by 2028, rising at a market growth of 37.4% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- NVIDIA Corporation
- AT&T, Inc.
- IBM Corporation
- Infosys Limited
- Intel Corporation
- Microsoft Corporation
- Salesforce.com, Inc.
- ZTE Corporation
- Google LLC (Alphabet, Inc.)
- Cisco Systems, Inc.
One of the sectors with the greatest growth rate is telecommunications, which uses AI to enhance customer satisfaction and network stability, among other areas of its operations. AI is predominantly used by telecom corporations for customer service-related applications.
For instance, chatbots and virtual assistants are used to handle a sizable volume of installation, maintenance, and troubleshooting support queries. Virtual assistants also scale or automate responses to back up claims, enhancing customer satisfaction and lowering costs for the company.
To evaluate massive data, such as data consumption, call records, and application usage, to improve the customer experience, artificial intelligence in telecom uses software & algorithms to predict human perception. Moreover, AI assists telecommunications companies with network security, network optimization, and virtual assistance.
Also, AI has made it simpler for the telecom sector to manage everyday operations, address problems more effectively, and increase customer happiness. This allows them to draw insights from their enormous data sets.
The telecom sector can now more easily manage everyday operations, address problems more quickly, and increase customer happiness and service by using artificial intelligence to pull insights from their massive data sets. Artificial intelligence is a cutting-edge technology that can make decisions like human intellect.
This technology aims to develop an intelligent machine with features including visual recognition, speech recognition, picture identification, and language translation that are responsible for driving market expansion. Moreover, technology can alter how certain industrial sectors, particularly telecommunications, function and operate. As a result, it offers a wide range of potential applications in telecommunications, including customer service and network performance.
Market Growth Factors
Increased acceptance of AI solutions in several telecom applications
The need for artificial intelligence in the telecommunication marketis growing as a result of the fact that AI enables telecommunication businesses to identify problems quickly. The majority of effort spent maintaining a network is spent trying to identify the location of the first spot that will require maintenance.
Because AI is now readily available, it has become much less difficult. In addition, the Internet of Things (IoT) is being utilized by telecommunications businesses, which is accelerating the incorporation of AI into this industry. As a result, the expansion of the use of AI-based solutions across a wide variety of telecom applications is driving the expansion of the market for AI in telecommunication.
Grown penetration of 5G technology in smartphones
The market is expanding as a result of innovations such as mobile 5G technology and the growing requirement to monitor material on the public communication network to eradicate human error from telecommunication.
For instance, China Telecom Company has built a new 5G base station in Lanzhou city as part of the Chinese government's efforts to improve its network and telecommunication services.
Thus, over the projection period, the introduction of 5G technology is anticipated to present a wide range of prospects for expanding AI in the telecommunications market.
Market Restraining Factors
Lack of Resources
The absence of tools for AI applications in the telecom industry is one of the major problems. It's true that the need for new tools is driven by applications with high demands. It makes sense that one would need to upgrade existing tools to acquire new skills and overcome unimaginable problems.
With the industry's substantial advancements in understanding the principles of AI applications, these new tools can be created. However, the adoption of AI in telecommunications may be constrained by this lack of resources.
Scope of the Study
By Technology
- Machine Learning
- Natural Language Processing (NLP)
- Data Analytics
- Others
By Deployment
- On-premise
- Cloud
By Component
- Solution
- Service
By Application
- Network Optimization
- Virtual Assistance
- Customer Analytics
- Self-Diagnostics
- Network Security
- Others
For more information about this report visit https://www.researchandmarkets.com/r/eflnf
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