LONDON--(BUSINESS WIRE)--The global artificial intelligence market in the telecommunication industry is expected to post an incremental growth of USD 2.54 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The performance of equipment like mobile towers improve through regular maintenance. It also enables cost saving, according to industry experts, within the telecommunication sector. AI systems help in making accurate predictions of equipment failure before it occurs by collecting and analyzing data from multiple sources. This allows telecom companies to minimize downtime and improve effectiveness. It is particularly helpful for mobile towers, providing surveillance to structures that are difficult to access. Hence, the use of AI can help telecom enterprises in effective predictive maintenance, which in turn, will boost the global market growth during the forecast period.
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As per Technavio, the rising investments in the 5G network, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Artificial Intelligence Market in the Telecommunication Industry: Rising Investments in 5G Network
5G network technology enhances download speeds, enables networks to connect to various devices and improves response time. It is the latest mobile wireless technology which is an upgraded version of the 4G network. AI will help 5G providers to optimize their investments, improve operations and maintenance efficiency, and reduce cost. Thus, with an increase in investment in the 5G network, the market for AI is also expected to grow in the telecommunication industry.
“The rising use of AI for enhancing customer experience and the high use of AI for network optimization are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Artificial Intelligence Market in the Telecommunication Industry: Segmentation Analysis
This market research report segments the global artificial intelligence market in the telecommunication industry by component (solutions and services) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market share in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increased investments in both infrastructure and AI technology in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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