Portland, OR, March 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global OSS and BSS market was estimated at $36.85 billion in 2019, and is expected to hit $102.14 billion by 2027, registering a CAGR of 13.7% from 2020 to 2027.The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in demand for cloud OSS/BSS, prioritized investments by CSPs in network upgrades over OSS/BSS transformations, exponential growth in data consumption due to COVID-19 pandemic, rising need for lower operational expenses and enhanced customer experiences, and launch of innovative solutions by major players to gain competitive advantage fuel the global OSS and BSS market. On the other hand, difficulties to integrate future OSS/BSS systems into existing ones impede the growth to certain extent. Nevertheless, rise in adoption of Next-Generation Operations Support Systems (NGOSS) to improve traditional OSS is anticipated to create multiple opportunities in the coming years.
Impact of Covid-19 scenario on OSS and BSS Market
- The outbreak of covid-19 led to increase in the trend of work-from-home practice, distance learning, and videoconferencing across the globe. Accordingly, it has augmented the demand for strong broadband connection from consumers, which in turn has impacted the global OSS and BSS market positively.
- Telecom operators, at the same time, have also elevated their BSA/OSS solutions to cater to the rising demand from individuals.
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The global OSS and BSS market is analyzed across component, OSS solution type, enterprise size, deployment model, industry vertical, and region. Based on component, the solution segment contributed to nearly three-fifths of the total market share in 2019 and is expected to lead the trail by 2027. Simultaneously, the services segment would manifest the fastest CAGR of 15.4% from 2020 to 2027.
Based on solution type, the network planning & design segment accounted for nearly one-fourth of the total market revenue in 2019 and is expected to dominate by the end of 2027. The customer & product management segment, on the other hand, would portray the fastest CAGR of 20.7% throughout the forecast period.
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Based on geography, North America generated the major share in 2019, garnering around two-fifths of the global market. At the same time, the market across Asia-Pacific would exhibit the fastest CAGR of 19.3% from 2020 to 2027. The other two provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global OSS and BSS market report include ASCOM, Accenture, Cisco System Inc., Comarch S.A, AMDOCS, LM Ericsson Telephone Company, Nokia Corporation, Computaris, Mycom OSI, Netcracker, Capgemini, HPE, Huawei Corporation, and Sunvizion. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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