According to a latest report by Future Market Insights (FMI), global AI-enabled testing tools market revenues will grow at over 13% CAGR through 2030.
Telecom firms are leveraging the potential of AI to manage and assess large volumes of big data in an effort to draw actionable insights and offer better customer experience (CX), enhance operations, and boost revenue with better quality products and services.
With FMI projecting that 20.4 billion connected devices will be in use globally by 2020, more communication service providers (CSP) are unleashing the power of AI-enabled maintenance and testing tools in telecom industry.
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AI-enabled Testing Tools Market: Key Takeaways
- Deployment of AI-enabled testing tools will rise at about 13% CAGR during 2020-2030
- Adoption of machine learning and pattern recognition for deploying AI-enabled testing tools to remain prominent
- North America will remain epicenter of value-capture opportunities, given strong presence of technology pioneers
- Market players to focus on R&D as well as deployment of ML-based multiple agent archetype
“AI has helped telecom companies scale up growth and revenues, in tandem with improving network capacities and allowing faster processing of huge chunks of data. With usage of connected devices skyrocketing, more CSPs are leaping on the bandwagon, identifying the value of AI-enabled testing tools market,” says analyst at FMI.
COVID-19 Impact on AI-enabled Testing Tools Market
With work from home (WFH) becoming the new normal amid the COIVD-19 pandemic, deployment of enterprise-level information and communication technology (ICT) is climbing.
Telecom operators are subsequently banking on remotely operable solutions and automation enhancement tools in a bid to assure optimal functioning and counter lag in productivity. This, is turn, is fueling adoption of AI-enabled testing tools, particularly in North America, Europe, and Asia Pacific (APAC).
AI will help telecom industry reimagine customer relationships by recognizing contextualized requirements and interacting with customers via hyper-customized one-to-one contacts.
The technology will help set up mobile-network and fixed-line bundles that combine teleconferencing, VPN, and productivity apps. Such bundles will specifically attract commercial customers whose consumption of telecom services has moved from workplaces to homes and from demand in field to fixed-line demand.
AI-enabled Testing Tools Market – Competitive Intelligence
Strategic collaborations and acquisitions have become key priority for established as well as emerging players in AI-enabled testing tools market. These firms are increasingly investing in R&D activities along with their peers to stay ahead of curve. For instance,
- Perforce Software – enterprise-level development lifecycle software solution provider – has taken over TestCraft Technologies Ltd. in a bid to expand its portfolio with AI-integrated codeless testing solution of the latter that performs autonomous codeless tests and curbs maintenance needs.
- Appvance.ai – provider of AI-driven testing tools – has entered into collaboration with Innominds – software engineering service provider – with an aim to develop and deploy AI-enabled maintenance and testing tools in telecommunications industry.
Know More About the Study
A new market research report published by Future Market Insights (FMI) on the global AI-enabled testing tools market offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the AI-enabled testing tools through four different segments – solution, technology, application, and region. The AI-enabled testing tools market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the development of AI-enabled maintenance and testing tools in telecom and product adoption across several end-use industries.