Princeton, NJ -- (SBWIRE) -- 05/31/2018 -- Research Cosmos expects the global Artificial Intelligence (AI) in telecommunication market to grow from USD 365.8 Million in 2017 to USD 2,497.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 46.8% during the forecast period. The increasing adoption of AI for various applications in the telecommunication industry and the utilization of AI-enabled smartphones are expected to be driving the growth of the AI in telecommunication market.

Among technologies, the Natural Language Processing (NLP) segment is expected to grow at a higher CAGR during the forecast period. In the telecommunication industry, utilization of the NLP technology is increasing to read the information stored in the digital format and understand the human languages from various data sets.

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The component segment has been further segmented into solutions and services. The services segment is expected to grow at a higher CAGR during the forecast period. Growing awareness among telecommunication enterprises regarding the features and benefits of the AI technology in the telecommunication industry, increasing adoption of AI for various applications in the telecommunication industry, and utilization of AI-enabled smartphones are driving the global AI in telecommunication market.

The AI in telecommunication market is segmented on the basis of applications too. The customer analytics application is expected to have the largest market size during the forecast period. In the telecommunication industry, there is an increase in the use of customer analytics applications to analyze the customer data, generated through telecommunication systems, which helps in planning strategies such as sales and marketing campaigns.

The component segment has been segmented into solutions and services. Among services, the professional services segment is expected to grow at a higher CAGR during the forecast period, as these services offer end-to-end effective implementation, starting from requirement gathering to user training.

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On the basis of deployment modes, the cloud deployment mode is expected to grow at a higher CAGR during the forecast period. This deployment mode is simple and cost-effective for use in applications, such as customer analytics, virtual assistance, and self-diagnostics.

North America is expected to have the largest market size in the AI in telecommunication market, while Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. The North American region has shown increased investments in the market, and several vendors have evolved to cater to the rapidly growing market. A considerable growth is expected in the region during the forecast period. In North America, the AI in telecommunication technology is effectively used for various applications, such as network optimization, network security, customer diagnostics, and virtual assistance.

The AI in telecommunication market faces many challenges; for instance, incompatibility concerns between the AI technology and telecommunication systems, which may generate integration complexities in AI in telecommunication solutions, are expected to act as restraints for the growth of the market.

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The major vendors that offer AI in telecommunication solutions across the globe include IBM (US), Microsoft (US), Intel (US), Google (US), AT&T (US), Cisco Systems (US), Nuance Communications (US), Sentient Technologies (US), H2O.ai (US), Infosys (India), Salesforce (US), and NVIDIA (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the AI in telecommunication market.

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