Generative Artificial Intelligence (AI) In Telecom Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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How Fast Is the Generative Artificial Intelligence In Telecom Market Growing?

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%. This growth during the historic period can be attributed to increasing demand for enhanced customer service, increasing adoption of automation, growing over-the-top services, and growing telecom companies.

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What Will Be the Future Market Growth of Generative Artificial Intelligence In Telecom?

The generative AI in telecom market size is expected to witness exponential growth in the upcoming years. It is forecasted to grow to $2.63 billion in 2028, reflecting a CAGR of 53.3%. The growth during the forecast period can be credited to increasing adoption of generative artificial intelligence-powered chatbots, growing smart city initiatives, increasing digital penetration, increasing number of internet of things devices, and growing network demands. Major trends propelling this growth 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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What Factors Are Driving The Market Growth of Generative AI In Telecom?

Increased usage of Internet of Things devices is expected to fuel the growth of the generative artificial intelligence in telecom markets moving forward. Internet of Things devices are interconnected gadgets that use advanced connectivity to communicate and exchange data over networks. The surge in the number of Internet of Things devices is driven by advancements in technology and reducing costs, which coupled with the growing demand for automation and data-driven insights, propels the market growth. Artificial Intelligence in telecom can boost Internet of Things device connectivity by optimizing network management and predicting maintenance needs, leading to improved efficiency and scalability.

Who Are The Major Players In The Generative Artificial Intelligence In Telecom Market?

Prominent companies operating in the generative artificial intelligence AI in telecom market include 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.

What Innovations Are Shaping The Generative AI In Telecom Market?

Major players in the generative artificial intelligence in telecom market are focusing on the development of technologically-advanced solutions, such as GenAI Telco platforms, to enhance the customer experience and optimize network performance. 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.

How Is The Generative Artificial Intelligence In Telecom Market Segmented?

The generative artificial intelligence AI in telecom market covered in this report is divided into:

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

Regional Insights Into The Generative Artificial Intelligence In Telecom Market

North America was the largest region in the generative AI in telecom market in 2023. Other regions covered in the generative artificial intelligence AI in telecom market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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