AI in Telecommunication Market to Grow over $3.8 Billion by 2023 at a CAGR of Around 50% Says Global QYResearch

Description :

The growing acceptance of Artificial Intelligence (AI) for different applications in telecommunication industry and operation of AI-enabled smartphones are anticipated to be the driving aspect for growth of “Global AI in Telecommunication Market (Types: Machine Learning and Deep Learning, Natural Language Processing; Application: Customer Analytics, Network Security, Network Optimization, Self-Diagnostics, Virtual Assistance, Others)”. Global QYResearch anticipates the global market of AI to grow from $343 million in 2017 to around $3.8 billion by 2023, at a CAGR of around 50% through the forecasting phase. Besides, dawn of the 5th generation of Internet of Things (IoT) and mobile network (5G) technologies to construct future networks is estimated to assist in integration of AI in telecommunication market in near future
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Natural Language Processing (NLP) To Grow Significantly
Among segments, the natural language processing (NLP) is anticipated to rise at a superior CAGR through forecasting period. In the telecommunication industry, operation of NLP technology is growing to interpret the information stored in digital system and recognize the human languages from different data sets.
Customer Analytics to Hold Major Market Share
On the basis of application, customer analytics segment is projected to hold a principal market size through the forecasting phase. In telecom industry, there is an expansion in the use of applications for customer analytics to appraise the customer data, created through telecommunication systems, which helps in planning strategies such as marketing and sales campaigns.
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Regional Overview
North America is projected to hold major market size in the global AI in telecommunication market, whereas Asia-Pacific is expected to grow at a maximum CAGR throughout the forecast period. North American region has shown better investments in the market, and numerous vendors have evolved in this speedily growing market. A substantial growth is anticipated in the region over the forecasting phase. In North America, the AI in telecommunication technology is efficiently used for various applications, such as network security, network optimization, virtual assistance, and customer diagnostics.
Key Players
Global QYResearch report for AI in telecommunication market wraps the competitive landscape and corporate profiles of the vital vendors based on their dealing strategies and product assistance. The major telecommunication vendors operating in AI market included in this report are IBM, Intel, Google, Microsoft, Nuance Communications, Cisco Systems, Sentient Technologies, Infosys, and more.
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