New York, April 05, 2022 (GLOBE NEWSWIRE) -- The telecom industry across the globe is witnessing a massive spur in growth and is expected to touch significant heights in the coming years. It is expected that by the end of 2026, the total number of 5G connections globally would cross 2 Billion. Moreover, mobile technologies and services added close to USD 5 Trillion of economic value to the global GDP in the year 2021. The global mobile ecosystem is further expected to grow by over USD 500 Billion by the end of 2026. Additionally, by the end of 2030, 5G, or the fifth generation of mobile broadband cellular network technology is projected to benefit the global economy by over USD 900 Billion in the developed regions worldwide.
Kenneth Research has recently released a report on “Global Operations Support Business Support (OSS/BSS) Software Market” which includes a detailed analysis of the key players operating in the market along with their product portfolios. The market research report, which is studied for the forecast period, i.e., 2022-2031, also covers an in-depth analysis of the risks associated with the industry along with the impact of COVID-19 on the growth of the market. Additionally, the report also includes the growth factors, opportunities, recent market trends, and the challenges that are associated with the growth of the market in the coming years.
With 5G now being commercially launched in around 70 markets around the globe by about 170 mobile operators, it has now become mainstream in several nations globally. Nearly 3 in 5 users who had upgraded to 5G or intend to upgrade to the new technology, are progressively interested in supplementing non-connectivity offerings to their mobile subscriptions. For instance, about 60% of the 5G users added video streaming services in the year 2021, which was an increase by about 15 percentage points compared to the service added by 4G users in the same year. Furthermore, music streaming and cloud storage services added by 5G users in the same year were about 55% and 58% respectively, an increase by about 10 percentage points and 7 percentage points as compared to the service added by 4G users. Owing to the growing demand for add-on services in addition to the basic subscription of the telecom users, there is a growing need amongst the telecom service providers to consolidate all their billing tasks together and also create enhanced transparency in their billing system, thereby driving the need for OSS/BSS systems.
Browse to access In-depth research report on Operations Support Business Support (OSS/BSS) Software Market with detailed charts and figures: https://www.kennethresearch.com/report-details/operations-support-business-support-ossbss-software-market/10352382
The global operations support business support (OSS/BSS) software market generated a revenue of USD 41936.60 Million in the year 2021 and is further expected to reach a revenue of USD 108078.62 Million by the end of 2031, by growing with a CAGR of 10.36% during the forecast period. The market growth can also be attributed to the significant advantages of these software systems, such as enhanced flexibility, greater cost-effectiveness, and advanced technology to support the optimization of business processes. The market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among the market in these regions, the market in North America generated the largest revenue of USD 15600.42 Million in the year 2021 and is further expected to reach a revenue of USD 41610.27 Million by the end of 2031. The market in the region is further segmented by country into the United States and Canada, out of which, the market in the United States is expected to grow with the highest CAGR of 11.21% during the forecast period and also garner the largest market revenue by the end of 2031.
On the other hand, the operations support business support (OSS/BSS) software market in Europe registered the second-largest revenue of USD 11490.63 Million in the year 2021 and is further expected to reach a revenue of USD 28316.60 Million by the end of 2031. Increasing adoption of 5G in the region, backed by the need for high-performance digital connectivity, especially due to the impact of the COVID-19 pandemic, followed by the rising capex on 5G by the telecom operators in the region are some of the major factors anticipated to drive the growth of the market in the coming years. The share of 5G in the overall technology mix of different generations of cellular broadband networks in the region is expected to grow from about 5% in the year 2020 to close to 45% in the year 2025. Moreover, operator capex during the period 2020 and 2025 is expected to reach about USD 128 Billion, of which, more than 85% of the expenditure is expected to be made on 5G. The market in the region is further segmented by country into United Kingdom, Germany, France, Italy, Spain, Russia, Turkey, Poland, and the Rest of Europe. Among the market in these nations, the market in Germany registered the largest revenue of USD 2665.83 Million in the year 2021 and is further expected to reach USD 6795.98 Million by the end of 2031. Furthermore, the market in France registered the second-largest revenue of USD 1941.92 Million in the year 2021 and is further expected to reach a revenue of USD 4870.45 Million by the end of 2031.
Get a Sample PDF of Global Operations Support Business Support Software Market Report@ https://www.kennethresearch.com/sample-request-10352382
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global operations support business support (OSS/BSS) software market is segmented by application into IT & telecom, BFSI, media & entertainment, retail & e-commerce, and others. Among these segments, the IT & telecom segment generated the largest revenue of USD 31550.0 Million in the year 2021 and is further expected to reach a revenue of USD 83238.69 Million by the end of 2031. In North America, the segment is expected to garner the largest revenue of USD 32039.91 Million by the end of 2031, up from a revenue of USD 11731.51 Million in the year 2021. Further, in Europe, the segment is projected to grow with the highest CAGR of 10.13% during the forecast period and also touch the largest revenue of USD 21775.46 Million by the end of 2031, up from a revenue of USD 8629.46 Million in the year 2021.
Access full Report Description, TOC, Table of figures, Chart, etc. @ https://www.kennethresearch.com/sample-request-10352382
The global operations support business support (OSS/BSS) software market is further segmented by enterprise size into SMEs and large enterprises. Among these segments, the large enterprises segment is anticipated to garner the highest market share by the end of 2031. Additionally, the SMEs segment is expected to grow with the highest CAGR of 10.91% during the forecast period. In North America, the large enterprises segment is projected to generate the largest revenue of USD 10827.89 Million by the end of 2023, whereas in the Asia Pacific, the SMEs segment is expected to grow with the highest CAGR of 12.59% during the forecast period.
The global operations support business support (OSS/BSS) software market is also segmented on the basis of solution and deployment.
Global Operations Support Business Support (OSS/BSS) Software Market, Segmentation by Solution
- OSS
- Service Assurance
- Network Management
- Inventory Management
- BSS
- Billing and Revenue Management
- Service Fulfillment
- Customer and Product Management
Global Operations Support Business Support (OSS/BSS) Software Market, Segmentation by Deployment
- On-Premise
- Cloud
Enquiry Before Buying This Report @ https://www.kennethresearch.com/sample-request-10352382
Some of the prominent industry leaders in the global operations support business support (OSS/BSS) software market that are included in our report are Accenture PLC, Comarch SA, Amdocs, Capgemini Service SAS, Nokia, NetCracker Technology Corporation, Huawei Technologies Co. Ltd., IBM Corporation, Cisco Systems, Inc., Oracle Corporation, and others.
Browse More Related Reports:
Millimeter Wave Technology Market Segmentation by Product (Radar & Satellite Communication System, Telecommunication Equipment, Scanner System, and Others); by Component (Power & Battery, and Frequency Sources & Related Components, Antennas & Transceiver, Sensors & Controls, and Others); by Application (5G & Small Cell Concept, Millimeter Wave Therapy, and Others); by License Type (Light Licensed, Fully Licensed, and Unlicensed Frequency); by Installation; by Transmission Frequency; and by End-User-Global Demand Analysis & Opportunity Outlook 2021-2031
Web Performance Market Segmentation by Solution Type {Software (Optimization, Monitoring, and Testing), and Service (Implementation, Consulting, and Managed)}; by Deployment (Cloud, and On-Premise); by Organization Size {Small & Medium Enterprises (SMEs), and Large Enterprises}; and by End Users (IT & Telecom, Healthcare, Automobile, Logistics & Transportation, Media & Entertainment, and Others)-Global Demand Analysis & Opportunity Outlook 2031
Learning Analytics Market Segmentation by Component {Software, and Services (Managed, and Professional Services)}; by Deployment Model (On-premises, and Cloud); by Application (People Acquisition & Retention, Curriculum Development & Intervention, Performance Management, and Others) by Analytics Type (Predictive, Prescriptive, and Descriptive Analytics); and by End Users {Academic (K-12, and Higher Education), and Enterprise (SMEs and Large Enterprises)}-Global Demand Analysis & Opportunity Outlook 2031
Mechatronics and Robotics Courses Market Segmentation by Platform (Online Course, and Offline Course); and by Application (Manufacturing, Aerospace, Automotives, Drones, and Others);-Global Demand Analysis & Opportunity Outlook 2031
Blockchain Technology Market Segmentation by Component (Platform and Services); by Type (Public, Private, and Hybrid); by Application (Smart Contracts and Digital Identity Payments); by Provider (Application, Middleware, and Infrastructure); by Industry (BFSI, Energy & Power, Healthcare, Manufacturing, and Others)-Global Demand Analysis and Opportunity Outlook 2031
About Kenneth Research
Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided the right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
AJ Daniel
Email: info@kennethresearch.com
U.S. Phone: +1 313 462 0609
Web: https://www.kennethresearch.com/
