Dublin, July 18, 2024 (GLOBE NEWSWIRE) -- The "5G OSS BSS Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global 5G OSS BSS market is undergoing a transformative shift with a projected Compound Annual Growth Rate (CAGR) of 14.56%. This sharp uptick reflects the market's increase from US$53.566 billion in 2022 to an estimated US$138.731 billion by the end of 2029. The 5G operations support systems (OSS) and business support systems (BSS) are integral components for managing the emerging complex operational and business landscape of 5G networks, fostering seamless deployment, operation, and remunerative strategies for 5G services.
North America - A Market Ripe for Growth
Fueled by the swift assimilation of technology across various sectors, the North American 5G OSS BSS market is anticipated to witness consistent growth within the forecast period. This is attributed to the increasing implementation of M2M, IoT, cloud, and mobile services. Additionally, the escalation of smart infrastructure and the demand for superior security solutions bolster the need for high-speed internet connectivity, thereby surging the growth of the 5G OSS BSS market in this region.
Enhanced Connectivity Spurs Market Advancement
The market is powered by the expanding application of OSS and BSS systems, underpinned by the surge of internet users, who now require robust networks to support their connectivity needs. As such, a robust and efficiently integrated OSS and BSS is vital for tapping into the full potential afforded by 5G technologies. The increase in internet users from 87.24% in 2017 to 91.75% in 2021 in the United States underscores the burgeoning requirement for advanced OSS and BSS solutions to cater to an ever-widening base.
Noteworthy Market Developments
The past years have witnessed strategic collaborations that herald significant contributions to the 5G OSS BSS space. Notable partnerships between major industry players like Ericsson with Amazon Web Services and Nokia with Innova have set the stage for enhanced cloud BSS offerings and innovative programmable network applications, thereby enriching the industry landscape with forward-thinking solutions.
The market is divided into segments based on varying parameters including deployment type, solutions offered, applications, industry verticals, and geographical regions. This delineation helps to identify and analyze trends and patterns within the industry, equipping stakeholders with insights necessary for strategic decision-making. With such granularity, the market report elucidates the multifaceted growth drivers and challenges faced by the 5G OSS BSS spectrum.
As operators and service providers globally position themselves to capitalize on the immense potential of 5G, the ecosystem of OSS BSS is rapidly evolving to meet the complex demands of this new technological epoch. With substantial investments and continued innovation, the 5G OSS BSS market is distinctly positioned for robust growth in the years to come.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $53.57 Billion |
| Forecasted Market Value (USD) by 2029 | $138.73 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
Companies Featured
- Telefonaktiebolaget LM Ericsson
- Teliolabs Communication Private Limited
- Nokia
- Oracle
- Netcracker
- FPT
- NEC Corporation
- Stl. tech
For more information about this report visit https://www.researchandmarkets.com/r/86nx46
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