Selbyville, Delaware, May 26, 2021 (GLOBE NEWSWIRE) --
According to latest report “OSS/BSS Market by Solution (OSS , BSS), Deployment Model (On-premise, Cloud), Enterprise Size (Small & Medium Enterprise (SME), Large Enterprise), Application (IT & Telecom, BFSI, Media & Entertainment), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of operations support system/business support system will cross $100 billion by 2027. Market growth is attributed to the extensive adoption of broadband services over mobile networks. The standardization and integration capabilities of OSS/BSS solutions into all major network virtualization platforms are further fueling the market expansion.
The market is growing rapidly credited to the increasing demand to streamline customer service functions and ensure high-quality service delivery. In addition, an extensive digitization trend is observed across organizations with their shift toward cloud-based software solutions. Cloud-based solutions are providing major opportunities for the expansion of the market in the future. The leading companies are focusing on emerging technologies, such as big data analytics and 5G, to develop innovative solutions for their customers.
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The customer & product management segment in the OSS/BSS market is anticipated to observe 10% growth rate by 2027. It plays an important role for operators in the development, sales, and management of products. Enterprises are adopting customer & product management in their business operations due to changing customer behavior and lifestyle. This creates more opportunities for enterprises to offer more personalized services to sustain the stiff competition.
The OSS/BSS market for cloud segment is expected to hold a larger market share during the forecast period led by the flexible configuration and re-usability, simplifying the process of launching a new service. Moreover, cost effectiveness along with scalability and flexibility of the cloud system is the primary factor augmenting its demand among CSPs and other enterprises.
SME segment in the OSS/BSS market is projected to witness an exponential growth during the forecast timeframe. The growth is attributed to the widespread adoption of OSS/BSS across small and medium enterprises to improve operational productivity and increase entrepreneurs’ skills and knowledge. This is set to create numerous opportunities for SME to grow in the market.
The OSS/BSS market for media & entertainment segment is estimated to attain a CAGR of 15% through 2027 on account of the increasing demand for on-demand videos and video streaming services. As customers are becoming more demanding, enterprises are required to deliver services rapidly with higher quality; thus, companies are looking for new ways to improve their service delivery for customers.
Asia Pacific OSS/BSS market is predicted to expand at a CAGR of over 15% by 2027 owing to the increasing LTE penetration and extensive investments in 5G commercialization initiatives among the developing economies such as China and India.
Several companies operating in the region are focusing on forming partnerships with cloud providers to launch innovative solutions for customers. For instance, in June 2020, Whale Cloud partnered with Alibaba Cloud to launch its cloud-based OSS/BSS solution suite. This suite will help enterprises to assess digital maturity and collaborate with ecosystem partners over unique platforms. This launch helped the enterprises to provide customized services to the customers.
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Major players operating in the market are Accenture Plc, Agile Network Systems, Amdocs Ltd, BMC Software, Inc, CA Technologies, Cisco Systems, Inc, and Comarch SA. The participants are focusing on digital transformation across communication service in order to serve user-friendly solutions across geographies.
Table of Contents (ToC) of the report:
Chapter 3 OSS/BSS Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 Impact by region
3.3.3 Impact on industry value chain
3.3.3.1 Suppliers
3.3.3.2 OSS/BSS technology providers
3.3.3.3 Marketing and distribution channels
3.3.4 Impact on competitive landscape
3.3.4.1 Strategy
3.3.4.2 Distribution chain
3.3.4.3 Business growth
3.4 Industry ecosystem analysis
3.4.1 Network hardware component suppliers
3.4.2 OSS/BSS software providers
3.4.3 Communication service providers
3.4.4 System integrators
3.4.5 Cloud service providers
3.4.6 Managed service providers
3.4.7 End users
3.4.8 Profit margin analysis
3.4.9 Vendor matrix
3.5 Evolution of OSS/BSS technology
3.6 Benefits of OSS/BSS
3.7 OSS/BSS architecture
3.8 Technology and innovation landscape
3.8.1 Big Data analytics
3.8.2 5G commercialization
3.8.3 Next-generation OSS/BSS
3.9 Regulatory landscape
3.10.1 Growth drivers
3.10.2 Industry pitfalls and challenges
3.11 Porter’s Analysis
3.12 PESTEL analysis
3.13 Growth potential analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.