Pune, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Cloud OSS/BSS Market Size Analysis:
“The SNS Insider report indicates that the Cloud OSS/BSS Market size was valued at USD 22.0 billion in 2023 and is expected to grow to USD 60.8 billion by 2032, representing a compound annual growth rate (CAGR) of 11.96% over the forecast period from 2024 to 2032.”
The Cloud OSS/BSS market is expected to witness lucrative growth during the forecast period owing to developments such as faster digital transformation in multiple sectors, demand for reliable communication services and growing cloud computing. Cloud-based OSS/BSS are being adopted more frequently by companies looking to operate at greater efficiency, lower costs while providing better customer service. Transitioning away from traditional archaic systems, utilises a cloud-based solution which enables organisations to harness analytics, artificial intelligence (AI), and machine learning.
From logistics challenges to subpar customer experiences, as organizations expand their digital footprints they increasingly need scalable and flexible solutions to operate better. This is especially true in use cases that drive immediate need, as in the case of telecommunications, where everyday demand for good service delivery with engaging customers is pertinent. In addition, the growing shift toward automation and self-service capabilities is propelling demand for cloud OSS/BSS solutions that can enable customer journeys & empowerment processes in a seamless manner.
Market scope is segmented in sub lettering of various industries such as telecommunications, media, finance, and healthcare sector. The growing popularity of cloud technologies will mean that companies are going to dedicate bigger budgets on OSS/BSS for more seamless operations, data management, and better decision making. The SWOT analysis shows Cloud OSS/BSS Market strengths such as strong technology, increasing service provider ecosystem and digital transformation investment. Nonetheless, high initial cost-based challenges coupled with the complexity of integration of cloud solutions with existing systems may restrain the market growth. For Instance, According to a recent survey, 68% of IT decision-makers acknowledge that integrating cloud solutions with legacy systems is a significant challenge, which may impact their investment in cloud OSS/BSS technologies.
Market opportunities consist of the high demand for digital transformation in every sector and the new business models created by IoT and 5G technologies. The Cloud OSS/BSS market is expected to see significant growth as companies move towards cloud-based solutions.
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Major Players Analysis Listed in this Report are:
- Amdocs - Amdocs Billing and Revenue Management
- Oracle Corporation - Oracle Communications Billing and Revenue Management
- SAP SE - SAP Convergent Charging
- Nokia Corporation - Nokia CloudBand
- Ericsson - Ericsson Revenue Manager
- IBM Corporation - IBM Cloud Pak for Communications
- Cisco Systems, Inc. - Cisco Cloud Services Router (CSR) 1000V
- CSG International - CSG Billing
- Netcracker Technology Corporation - Netcracker Revenue Management
- Comarch S.A. - Comarch OSS/BSS Suite
- Tata Consultancy Services (TCS) - TCS Digital BSS
- Hewlett Packard Enterprise (HPE) - HPE GreenLake
- Accenture - Accenture Cloud Services
- Fujitsu - Fujitsu Network Function Virtualization (NFV)
- Huawei Technologies Co., Ltd. - Huawei CloudCore
- ZTE Corporation - ZTE CloudStudio
- Openet - Openet Policy Manager
- Cerillion Technologies - Cerillion Convergent Charging
- Mavenir - Mavenir Cloud-Native BSS
- Amdocs Openet - Amdocs Openet Policy Control
Cloud OSS/BSS Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 22.0 billion |
| Market Size by 2032 | USD 60.8 Billion |
| CAGR | CAGR of 11.96% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | •Demand for real-time insights for customer experience management and network performance Increasing •AI-driven analytics and automation streamline decision-making, enable predictive maintenance, and reduce operational costs. •The complexity of 5G networks requires advanced cloud-based OSS/BSS systems for real-time billing and seamless network management. |
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Segmentation Analysis
By Deployment
The public cloud segment dominated the market in 2023, owing to the flexibility, scalability and cost-effectiveness of public cloud. The private cloud segment is expected to grow significantly due found from rising need for more security and data control. On the other side, hybrid cloud segment is expected to create its impact with organizations looking to capitalize on benefits of both a public and private cloud solution. This growth is driven by a wide adoption of cloud-based solutions in small, medium and large enterprises which are to generate the highest revenues in the public cloud segment during the forecast period with private cloud, hybrid cloud and managed services segments following close behind.
Managed services segment is expected to witness a steady growth forecast, and it continues to change trajectory with more cloud operations being outsourced to niche service providers.
The insights have shown that public cloud solutions are usually preferred by small and medium-scale businesses, whereas large enterprises go for the private cloud. More organizations are transitioning to hybrid cloud strategies as they seek to build their cloud infrastructure. The managed services are also gaining traction as organizations prefer moving their cloud ops to dedicated service providers.
Cloud OSS/BSS Market Segmentation:
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Managed Services
By Functionality
- Order Management
- Inventory Management
- Billing and Revenue Management
- Customer Relationship Management
- Analytics and Reporting
By Organization Size
- Small and Medium-Sized Businesses
- Large Enterprises
By Industry
- Telecommunications
- Media and Entertainment
- Financial Services
- Manufacturing
- Healthcare
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Regional Landscape
The North America dominated the market and held the significant revenue share in 2023, driven by several key factors. A well-established ecosystem of leading cloud providers with an already developed technological infrastructure to encourage the adoption of many cloud solutions. In addition, growing demand for better customer experience and operational efficiency among telecom operators is leading to significant investment in next generation OSS/BSS solutions. This trend is agitated by the continued digital transformation efforts in different sectors, expansion of 5G networks and Internet of Things (IoT) purposes.
In contrast, the Cloud OSS/BSS market in the Asia Pacific region is set for substantial growth due to a few key reasons. As telecom network infrastructure, and particularly 5G networks, continues to grow rapidly, there is an increasing need for effective cloud solutions. Furthermore, the increasing deployment of IoT devices and smart technologies across all industries is driving demand for comprehensive OSS/BSS solutions to handle complex operations effectively. Also, in addition, government initiatives to promote changes and applications from digitization and higher spending on IT infrastructure also play a role in the emergence of alternatives for industrial growth potential in this region.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud OSS BSS Market Segmentation, by Deployment
8. Cloud OSS BSS Market Segmentation, by Functionality
9. Cloud OSS BSS Market Segmentation, by Organization Size
10. Cloud OSS BSS Market Segmentation, by Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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