Press release
AI In Telecommunication Market Size, Share, Trends, Insights And Forecast To 2033
AI In Telecommunication Market
According to The Business Research Company's, The ai in telecommunication market size has grown exponentially in recent years. It will grow from $2.48 billion in 2023 to $3.47 billion in 2024 at a compound annual growth rate (CAGR) of 40.1%. The growth in the historic period can be attributed to increased network complexity, risen customer service expectations, data explosion and analysis needs, network security challenges, competition and operational efficiency.
The ai in telecommunication market size is expected to see exponential growth in the next few years. It will grow to $13.5 billion in 2028 at a compound annual growth rate (CAGR) of 40.4%. The growth in the forecast period can be attributed to 5g network expansion, enhanced customer experience goals, edge computing integration, rising cybersecurity concerns, increased demand for network automation. Major trends in the forecast period include application of ai in revenue assurance, optimization of spectrum management with ai, ai in edge computing for low-latency services, implementation of ai in virtualized network functions, green telecommunications with ai.
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Market Drivers and Trends:
The growing over-the-top (OTT) services are expected to propel the growth of the AI in telecommunications market going forward. Over-The-Top (OTT) services refer to applications and services that are delivered over the Internet, bypassing traditional distribution methods such as cable, satellite, and broadcast television. The demand for OTT services has been growing rapidly in recent years, as consumers increasingly shift away from traditional media consumption models and embrace the convenience and flexibility of streaming content online. With the growing demand for OTT services, telecommunications providers ensure that their networks can handle the increased traffic. For instance, in August 2022, according to WebFX, a US-based tech-enabled digital marketing solutions provider, there are 85% of American millennials subscribe to at least one OTT video service, and 70% of users consume more than three hours of mobile OTT video content every day. Also, by 2027, there will be more than 3.5 million active OTT AVOD users, and Netflix will have 221 million active members worldwide, making it the largest OTT service. Therefore, the growing over-the-top (OTT) services are driving the growth of the AI in telecommunications market.
Technological advancements are a key trend gaining popularity in the AI in telecommunications market. Companies operating in the AI in telecommunications market are adopting new technologies to sustain their position in the market. For instance, in October 2021, Ericsson, a Sweden-based, multinational networking and telecommunications company, launched the Network Data Analytics Function (NWDAF) solution, a cloud-native offering that enables service providers to analyze and optimize network performance, as well as detect and resolve issues faster. By leveraging machine learning and AI, NWDAF can provide insights into network data in real time, allowing service providers to make informed decisions to improve service quality and customer experience. This solution is a critical component in the 5G network infrastructure, as it enables service providers to monitor and optimize the network in real time, ensuring a seamless user experience.
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Major Key Players of the Market:
Intel Corporation; Nuance Communications Inc.; Infosys Limited.; ZTE Corporation; IBM Corporation; Google LLC; Microsoft Corporation; Salesforce Inc.; Cisco Systems Inc.; NVIDIA Corporation; Evolv Technology Solutions Inc.; AI Incorporated; Sentient Technologies LLC; Comcast Corporation; Verizon Communications Inc.; Windstream Holdings Inc.; Nokia Corporation; Amazon Web Services Inc.; Tech Mahindra Limited; Huawei Technologies Canada Co. Ltd.; Ericsson AB; Samsung Electronics Co. Ltd.; Orange Business; Deutsche Telekom AG; Telefonaktiebolaget LM Ericsson; China Mobile Limited; China Telecom Corporation Limited; China Unicom (Hong Kong) Limited; Vodafone Group Plc; BT Group plc
AI In Telecommunication Market 2024 Key Insights:
• The ai in telecommunication market will grow to $13.5 billion in 2028 at a compound annual growth rate (CAGR) of 40.4%.
• Rising Demand For Over-The-Top (OTT) Services Fueling Growth In The AI In Telecommunications Market
• Ericsson Introduces Cutting-Edge Nwdaf Solution
• North America was the largest region in the AI in telecommunication market in 2023
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