The generative artificial intelligence (ai) in telecom global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Generative Artificial Intelligence (AI) In Telecom Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The generative AI in telecom market size has grown exponentially in recent years. It will grow from $0.31 billion in 2023 to $0.48 billion in 2024 at a compound annual growth rate (CAGR) of 53.1%. The growth in the historic period can be attributed to increasing demand for enhanced customer service, increasing adoption of automation, growing over-the-top services, and a growing number of telecom companies.
The generative AI in telecom market size is expected to see exponential growth in the next few years. It will grow to $2.63 billion in 2028 at a compound annual growth rate (CAGR) of 53.3%. The growth in the forecast period can be attributed to increasing adoption of generative artificial intelligence-powered chatbots, growing smart city initiatives, increasing digital penetration, increasing the number of internet of things devices, and growing network demands. Major trends in the forecast period include advancements in artificial intelligence technologies, innovative telecom solutions, the integration of cutting-edge technologies, the development of digital transformation and innovation, and the integration of internet of things edge computing.
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Scope Of Generative Artificial Intelligence (AI) In Telecom Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Generative Artificial Intelligence (AI) In Telecom Market Overview
Market Drivers –
The increasing number of Internet of Things devices is expected to propel the growth of generative artificial intelligence in telecom markets going forward. Internet of Things devices refer to interconnected devices that use advanced connectivity to communicate and exchange data over networks. The increasing number of Internet of Things devices is driven by advancements in technology and decreasing costs, along with rising demand for automation and data-driven insights. AI in telecom can enhance Internet of Things device connectivity by optimizing network management and predicting maintenance needs, leading to improved efficiency and scalability. For instance, in April 2024, according to a report published by Ericsson, a Sweden-based telecommunications company, the global IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.8 billion connections by 2029. Therefore, the increasing number of Internet of Things devices is driving the growth of generative artificial intelligence in telecom market.
Market Trends –
Major companies operating in generative artificial intelligence in telecom market are focusing on developing technologically advanced solutions, such as GenAI Telco platforms, to enhance the customer experience and optimize network performance. GenAI Telco platforms are AI-driven systems tailored for the telecom industry to automate processes, optimize network management, and enhance customer experiences. For instance, in September 2023, Netcracker Technology, a US-based information technology company, launched the GenAI Telco Solution to Accelerate the Adoption of High-Value Use Cases Across the Telecom Business. This solution enables communication service providers (CSPs) to securely leverage their valuable telecom data and knowledge to deliver exceptional benefits to customers, partners, and their own businesses. The GenAI Telco Platform includes knowledge management capabilities for developing, testing, and optimizing telecom-specific scenarios such as customer care, business operations, sales, and network management. By integrating with popular AI models, this solution allows CSPs to enhance customer interactions, improve operational efficiency, and achieve significant cost savings while ensuring compliance with data protection regulations.
The generative artificial intelligence (AI) in telecom market covered in this report is segmented –
1) By Type: Text-Based, Image-Based, Voice-Based
2) By Component: Software, Services
3) By Deployment: On-Premises, Cloud-Based, Edge, Hybrid
4) By Application: Network Optimization, Predictive Maintenance, Improve Call Center Operations And Customer Support, Personalized Product Or Service Recommendations, Security And Fraud Detection, Marketing And Personalized Product Recommendations, Other Applications
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Regional Insights –
North America was the largest region in the generative AI in telecom market in 2023. The regions covered in the generative artificial intelligence (AI) in telecom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the generative artificial intelligence (AI) in telecom market are Amazon Web Services, Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., International Business Machines Corporation, Vodafone Group Public Limited Company, Telefónica S.A., Nvidia Corporation, Telefonaktiebolaget LM Ericsson, Capgemini SE, NTT DATA, Infosys Limited, Wipro Limited, Amdocs Limited, Ciena Corporation, Netcracker Technology Corporation, UiPath Inc., Gsma Advisory Services Ltd, C3.AI inc, LeewayHertz Technologies Pvt Ltd, Subex Ltd, Alepo Technologies Private Limited, Cresta Intelligence Inc, Xaltius Pte. Ltd., Binmile Technologies Private Limited’s, Kanerika
Table of Contents
- Executive Summary
- Generative Artificial Intelligence (AI) In Telecom Market Report Structure
- Generative Artificial Intelligence (AI) In Telecom Market Trends And Strategies
- Generative Artificial Intelligence (AI) In Telecom Market – Macro Economic Scenario
- Generative Artificial Intelligence (AI) In Telecom Market Size And Growth
…..
- Generative Artificial Intelligence (AI) In Telecom Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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