(Wireless-NewsWire.Com, November 05, 2019 ) According to a new market research report "AI in Telecommunication Market by Technology, Application (Network Optimization, Network Security, Self-diagnostics, Customer Analytics, and Virtual Assistance), Component (Solutions and Services), Deployment Mode, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the 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.
Increasing adoption of AI for various applications in the telecommunication industry and utilization of AI-enabled smartphones are expected to be driving the growth of the AI in Telecommunication Market.
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NLP technology is expected to grow at the highest CAGR during the forecast period
In the AI in telecommunication industry, the Natural Language Processing (NLP) technology is used to collect, analyze, and visualize customer-related data, such as responses to particular product and service. NLP is used to understand the human language via virtual chat bots. The use of the NLP technology in the telecommunication system has increased, which helps in offering 24/7 services to customers.
Cloud deployment mode is expected to have the largest market size during the forecast period
On the basis of deployment modes, the AI in Telecommunication Market is segmented into cloud and on-premises. Among these, the cloud deployment mode is expected to have a larger market size during the forecast period. The adoption of the cloud deployment mode is growing rapidly, as organizations are focusing on planning cost-effective services, such as training programs.
APAC is expected to grow at the highest CAGR during the forecast period
In the Asia Pacific (APAC) region, global as well as domestic enterprises are investing in the AI in telecommunication technology. Moreover, the government is also investing in the AI in telecommunication technology for offering better telecommunication services to citizens.
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The AI in Telecommunication Market report encompasses the competitive landscape and company profiles of the key vendors based on their product offerings and business strategies. The major AI in telecommunication vendors include IBM (US), Microsoft (US), Intel (US), Google (US), AT&T (US), Cisco Systems (US), Nuance Communications (US), Sentient Technologies (US), H2O.ai (US), Infosys (India), Salesforce (US), and NVIDIA (US).
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Mr. Shelly Singh