AI in Telecom Market size is Expected to Reach US$ 9365.5 Mn by 2027 Due to Rapid Growth in 5G Technology

The AI in Telecom market is forecasted to grow at a high rate owing to the accelerating demand for AI enabled smartphones coupled with rapidly growing 5G technology

The Global AI in Telecom Market was valued at US$ 971.2 Mn in 2020 and is expected to reach US$ 9365.5 Mn by 2027, with a growing CAGR of 39.8% during the forecast period (2021-2027).

Global AI in the Telecommunication market is expected to rise on account of an increasing number of AI-enabled smartphones. These phones have numerous features such as image recognition, voice recognition, robust security, and many as compared to the traditional phones, and therefore is the reason it is becoming popular among users.

Moreover, it is expected that the utilization rate of AI-embedded smartphones is expected to increase and the adoption of AI solutions in various applications results to project growth, leading to the growth of AI in the telecommunications market during the forecast period. Also, upgrading to 5G technology on mobile networks is expected to improve the AI ​​of communications. For instance, the Chinese government is working to improve the telecommunications sector and provide better solutions for network services. China Telecom Corporation is the largest in Gansu Province, Northwestern China, and is building a new 5G base station in the capital, Lanzhou, to expand its 5G network.

Global AI in Telecom Market by Region Outlook (Revenue, USD Billion, 2021-2027)

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

In terms of geography, the North American segment held the largest market share in the year 2020 and is anticipated to continue the dominance during the forecast period. The dominance is majorly attributed to the rapidly increasing investments in the market by key companies in this region. For instance, in November 2020, Microsoft Corporation announced a strategic partnership with Adobe Inc., American multinational computer software company, and with a Redwood City-based enterprise artificial intelligence company, C3.ai is aimed to offer customer relationship management (CRM) software solutions utilizing Artificial Intelligence (AI).

Moreover, the Asia Pacific region is also anticipated to grow at a significant rate during the forecast period owing to increasing technological advancements happening in the region and increased investments of big companies in Asia Pacific region. For instance, In August 2021, the Google cloud is on the verge of making a substantial investment into Bharti Airtel Ltd., an Indian multinational telecommunication services company. This investment is expected to boost the Indian telecommunication industry.

The Global AI in Telecom Market Segmentation:

• Global AI in Telecom Market by Component Outlook (Revenue, USD Billion, 2021-2027)
  • Services
    • Professional Services
    • Managed Services
  • Solutions
    • Platforms
    • Software Tools
• Global AI in Telecom Market by Technology Outlook (Revenue, USD Billion, 2021-2027)
  • Natural Language Processing (NLP)
  • Machine Learning (ML) and Deep Learning
• Global AI in Telecom Market by Deployment Mode Outlook (Revenue, USD Billion, 2021-2027)
  • On-premises
  • Cloud
• Global AI in Telecom Market by Application Outlook (Revenue, USD Billion, 2021-2027)
  • Virtual assistance
  • Customer analytics
  • Self-diagnostics
  • Network security
  • Network optimization
  • Others (marketing campaign analytics and contact center analytics)

Key Findings:

• Based on the component, the services segment held the largest market share in 2020
• Based on technology, the Natural Language Processing (NLP) technology accounted for  largest market share in 2020
• Cloud segment based on deployment mode, is accounted to grow at a significant growth rate during the forecast period
• Based on application, the customer analytics accounted to hold the largest market share for Ai in telecom market followed by virtual assistance
• Based on regions, the North America region is anticipated to hold  largest market share in the year 2027 in the AI in telecom market analysis

Company Profiles and Competitive Intelligence

The key players operating in the AI in telecom market are:

1. Google LLC
2. Microsoft Corporation
3. Nuance Communications, Inc.
4. Infosys Limited
5. International Business Machines Corporation
6. Apple. Inc.
7. AT&T Intellectual Property
8. Intel Corporation
9. Cisco Systems Inc.
10. NVIDIA Corporation
11. Atomwise, Inc.
12. Amazon
13. Sentient Technologies
14. Salesforce.com, Inc.
15. H2O.ai Inc. 
16. Colt
17. Sense.ly, Inc.
18. Lifegraph, Baidu, Inc.
19. Globe Telecom
20. Verizon Communications
21. Evolv Technology Solutions, Inc.
22. Zebra Medical Vision, Inc.
23. America Movil
24. Deutsche Telekom
25. Enlitic, Inc.
26. Telefonica

Recent News:

• In August 2021, OnMobile, an India-based telecommunication company completed its successful acquisition over Technologies rob0 Inc., a Canada-based AI-powered visual retention organization. The acquisition helps to collect, analyses, and provides smart insights that aids in understanding consumer behavior, increase player retention, and gameplay optimization.
• In January 2020, Google LLC announced the successful acquisition of AppSheet, an eight-year-old no-code mobile application-building platform. The company had risen more than USD 17 million on a USD 60 million valuation, according to PitchBook data. The companies did not share the purchase price.