The global artificial intelligence market in the telecommunication industry will register a CAGR of nearly 47% by 2023
LONDON, Jan. 31, 2019 /PRNewswire/ -- About this market
Maintenance of equipment such as mobile towers in the telecommunication industry is one of the key factors that can enhance equipment performance and enable cost saving. Service providers in this industry must be able to effectively monitor their equipment and infrastructure such as servers in data centers and set-top boxes to ensure a secure and reliable network. Maintaining the equipment reduces downtime and improves effectiveness. Predictive maintenance enables enterprises to predict the time when equipment failure can occur which in turn will support them to prevent failure by performing maintenance. Hence the use of Al can help enterprises in the effective predictive maintenance which in turn will lead to the increase in adoption of Al in the telecommunication industry. Technavio's analysts have predicted that the global artificial intelligence market in the telecommunication industry will register a CAGR of nearly 47% by 2023.
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Market Overview
Increasing use of AI of network optimization
Al can help telecom providers to build self-optimizing networks (SONs), which provide network operators the ability to automatically optimize their network quality depending on traffic information by time zone and region. This, in turn, will enable enterprises to optimize their inventory by making orders based on the estimated demand, current inventory level, and lead time.
Poor availability of skilled workforce and high cost of implementing AI
A major challenge for the growth of Al in the telecommunication industry is the lack of technical expertise among the workforce. Enterprises implementing Al are required to have sound knowledge on working with Al software platforms and periodic servicing necessities to ensure smooth operations. The lack of technical knowledge can impact the demand for Al in the telecommunication industry.
For the detailed list of factors that will drive and challenge the growth of the artificial intelligence market in the telecommunication industry during the 2019-2023, view our report.
Competitive Landscape
The AI market in the telecom industry is moderately fragmented and will become more so during the next five years. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.'
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