Artificial Intelligence (AI) In Telecommunication Market to grow from USD 365.8 million in 2017 to USD 2,497.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 46.8% during the forecast period.
Telecommunication network flexibility can be achieved by integrating AI solutions with the telecommunication network. Additionally, there is an increasing adoption rate of AI for various applications, such as analyzing data and automating network functions in the telecommunication industry. These factors are expected to drive the growth of the AI in telecommunication market.
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North America is expected to be the major revenue contributor to the AI in telecommunication market. This region is said to be the first to experience the benefits of AI in telecommunication technologies. The North American region also hosts the major market players and is open to technology-related innovations.
Asia Pacific (APAC) is expected to witness the fastest growth rate in the AI in telecommunication market during the forecast period, due to the increase in the number of internet users and smartphone users in the APAC region. The emerging economies of countries, such as China and India, in the APAC region have several untapped and unexplored opportunities for telecommunication enterprises in the AI in telecommunication market.
On the basis of services, the AI in telecommunication market is broadly classified into professional services and managed services. Among these, the professional services segment is expected to grow at a higher CAGR during the forecast period, as these services offer end-to-end effective implementation, starting from requirement gathering to user training.
The solutions segment in the AI in telecommunication market is divided into software tools and platforms. Among these, the platforms segment is expected to grow at a higher CAGR during the forecast period. This high growth is attributed to the fact that these platforms are used to develop and deploy AI-enabled solutions in the telecommunication industry.
On the basis of deployment modes, the AI in telecommunication market is segmented into cloud and on-premises. The cloud deployment mode is expected to have a larger market size and is projected to grow at a higher CAGR during the forecast period. The growing demand for cloud-based services due to cost-effectiveness of cloud solutions is accelerating the integration of AI-enabled cloud deployments in the region. There is an increasing demand for AI-enabled smartphones by customers, which in turn is increasing the functionality and efficiency of smartphones.
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