BANGALORE, India, Feb. 1, 2021 /PRNewswire/ -- Artificial Intelligence in Telecommunication Market is Segmented by Type Machine Learning and Deep Learning, Natural Language Processing, by Application Customer Analytics, Network Security, Network Optimization, Self-Diagnostics, Virtual Assistance, by Regions & Key players Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Software Category.
The global AI In Telecommunication market size is projected to reach USD 13450 Million by 2026, from USD 773 Million in 2019, at a CAGR of 49.8% during 2021-2026.
Major factors driving the growth of AI in telecommunication market size are, increasing adoption of AI for various applications in the telecommunication industry and the utilization of AI-enabled smartphones.
The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2021-2026. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for the period 2021-2026.
TRENDS INFLUENCING THE GROWTH OF AI IN TELECOMMUNICATION MARKET SIZE
Artificial intelligence is very helpful in improving the performance of the telecommunications network. With artificial intelligence and machine learning aid, the telecommunications network can operate independently and make a qualified decision to minimize the network. In addition, the increasing need to track content on the telecommunications network and to urge the removal of human error from telecommunications networks is the primary factor that is increasing the growth of AI in the telecommunication market size.
Growing over-the-top (OTT) services, such as video streaming, have changed the delivery and consumption of audio and video content. As more customers turn to OTT services, the need for bandwidth has increased considerably. Carrying such ever-increasing traffic from OTT services contributes to high operating Expenditure (OpEx) for the telecommunications industry. AI allows the telecommunications industry to minimize operating costs by minimizing the human interference required for network setup and maintenance. Automation also helps telecommunications companies to bring consumers on board quicker while offering new technologies in a shorter period. Furthermore, it also supports network operations to detect issues, such as Service-Level Agreement (SLA) breaches, and diagnose the root causes. These features are in turn expected to fuel the growth of telecommunication market size.
TOP COMPANIES IN THE AI IN TELECOMMUNICATION MARKET
Telecom companies use AI mainly for customer service applications, such as the use of chatbots and virtual assistants to answer a vast number of installation, repair, and troubleshooting support requests. Telecom companies can minimize operating costs while enhancing customer service by introducing AI and deciding route traffic by reading network content.
Based on application, the virtual assistance segment is expected to witness the fastest growth during the forecast period. This rapid growth is attributed to the fact that customer service automation produces considerable savings for telecommunications companies. On the other hand, the consumer analytics segment is expected to hold the AI in telecommunication market share due to the increasing need for real-time behavioral insights.
Based on type, the Natural Language Processing (NLP) technology is expected to witness the highest CAGR in the Global AI in the Telecommunications Market. This is due to the use of NLP technology to read information stored in a digital format and used to understand human languages from different data sets in the telecommunications industry.
Based on application, the service segment is expected to expand at the fastest pace. The growing adoption of AI in various telecommunications sectors is driving the growth of the service segment in the AI in the telecommunication market.
Based on region, North America is expected to hold the largest AI in telecommunication market share during the forecast period. The Asia Pacific is expected to witness the highest growth in the forecast period. This rapid growth of the Asia-Pacific region is due to rapid technological developments in emerging economies, such as China and India.
- Artificial Intelligence (AI) in Healthcare market was valued at USD 4,836.87 Million in 2019 and is projected to reach USD 99,491.58 Million by 2027, registering a CAGR of 42.8% from 2020 to 2027. The market growth is driven by a rise in the adoption rate of AI systems and delete technological advancements in the AI field. In addition, these systems' ability to improve patient outcomes, increase in adoption of precision medicine, and increase the need for coordination between the healthcare workforce & patients are expected to fuel the market growth.
- Artificial Intelligence (AI) in Education Market is segmented by Product Type - Machine Learning and Deep Learning, Natural Language Processing, Application - Virtual Facilitators and Learning Environments, Intelligent Tutoring Systems, Content Delivery Systems, Fraud and Risk Management, by key players, by Regions - North America, Europe, China and Japan, etc.
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