New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Cloud OSS BSS Market Size, Share, Growth Trends and Global Forecast to 2030 - COVID-19 Impact and Global Analysis By Solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product Management, Customer Management, and Others)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, and Others)”; The global cloud OSS BSS market growth is fuelled by adoption of cloud technology in telecom industry, growing demand for next-gen 5G communication solutions and continuous product innovations by vendors.
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Global Cloud OSS BSS Market – Study Scope:
| Market Size Value in | USD 19.24 Billion in 2022 |
| Market Size Value by | USD 55.73 Billion by 2030 |
| Growth rate | CAGR of 14.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| No. of Pages | 167 |
| No. of Tables | 25 |
| No. of Charts & Figures | 63 |
| Historical data available | Yes |
| Segments covered | Solution, Deployment Model, Enterprise Size, and Industry |
Cloud OSS BSS Market: Competitive Landscape and Key Developments
Amdocs Ltd, Oracle Corp, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Development LP, Huawei Technologies Co Ltd, Axino Solutions GmbH, CSG Systems International Inc, Nokia Corp, Infosys Ltd, and Softelnet SA. are the leading players profiled in the cloud OSS BSS market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help key players strategize their growth. A few developments are mentioned below:
In 2022: Vodafone entered into a partnership with Oracle. The partnership was articulated as part of Vodafone’s ongoing efforts to evolve into a full-fledged technology company, which envisages an extreme overhaul and modernization of its IT systems.
In 2021: CSG acquired DGIT Systems, a companies providing configure, price, and quote (CPQ) and order management solutions to the telecoms industry. The acquisition combines industry-leading solutions developed to simplify the process of commercialization of next-generation multi-party digital offerings that will drive business growth for communications service providers (CSPs).
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Global Cloud OSS BSS Market: Segmentation
The cloud OSS BSS market is segmented on the basis of solution, deployment model, enterprise size, industry, and geography. Based on solution, the cloud OSS BSS market is bifurcated into business support systems (BSS) and operations support systems (OSS). The BSS segment is subsegmented into billing and revenue management, product management, customer management, and others. The OSS segment is further segmented into network management and orchestration, resource management, analytics and assurance, and service design and fulfillment. Based on deployment model, the cloud OSS BSS market is divided into public cloud, private cloud, and hybrid cloud. Based on enterprise size, the market is bifurcated into small and medium enterprises (SMEs) and large enterprises. Based on industry, the market is segmented into IT and telecom, BFSI, media and entertainment, healthcare, and others.
Based on geography, the cloud OSS BSS market is segmented into North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, India, and Rest of APAC), and RoW (MEA and SAM).
Growth in the telecom industry in Asia Pacific, coupled with the increase in mobile and internet penetration, is propelling the cloud OSS BSS market. APAC has been the fastest-growing market for communication service providers (CSPs). Moreover, the internet consumption rate in APAC is significantly growing due to the high number of mobile and broadband subscribers and users in the region. According to a report by the GSMA, in 2021, mobile broadband networks covered ~96% of the region's population, and at the end of 2021, mobile internet users in Asia Pacific exceeded 1.2 billion. Also, the demand for 5G is increasing due to the economic recovery of the region from the COVID-19 pandemic and rise in 5G handset sales, along with overall marketing efforts. 5G connections in Asia Pacific are expected to reach beyond 400 million by 2025.
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APAC is also witnessing a significant demand for cloud OSS BSS solutions due to the increase in the number of telecom service users, especially in populous countries such as India and China. Furthermore, IoT and cloud-based OSS BSS and services have helped operators to look beyond connectivity, as they provide significant customer benefits such as reduced costs, increased productivity, and automated business processes.
Growing Demand for Next-Gen 5G Communication Solutions Creates Opportunities for Cloud OSS BSS Market Players:
The initiation of an era of user-centric networks with advancements in 5G connectivity is resulting in a greater number of 5G monetization opportunities. The demand for 5G is further increasing with the use of AR-based shopping features, drones, and factory automation. To cater to this, CSPs must run automated, intelligent, and secure networks for data transmission. For this, they require computing resources for processing the data to make it usable for business purposes. Also, by embracing cloud-native and open-source IT, CSPs can gain the scalability and agility needed to support 5G services and business models, along with creating an environment that favors innovation. This enables CSPs to compete with web-scale players. Various market players are working on digital BSS to support 5G monetization. For instance, Telefonaktiebolaget LM Ericsson provides digital BSS to monetize enterprise 5G with a simplified customer experience. Transitioning to 5G and digital BSS will allow CSPs to provide a flexible and centralized catalog that can simplify product management, and drive fulfilment, charging, and assurance. In addition, an online charging system (OCS) enables real-time convergent charging, decoupling, policy control, and fast service creation. Thus, the growing adoption of 5G networks is likely to create significant opportunities for the cloud OSS BSS market growth during the forecast period.
Billing and revenue management (BRM) solutions are deployed for managing billing, invoice payments, subscriptions, collections, receivables, and settlements. The solution supports various services and business models, which include white-label billing, subscription billing, and billing-on-behalf-of models. Using these systems, telecom operators provide customer satisfaction with an accurate billing experience. BRM is a central and unified solution for B2B, B2C, and B2B2X models; Using these solutions, CSPs can easily offer flexible group account plans; adjustments; billing-time discounting; and recurring, usage, and purchase charges.. Thus, as BRM solutions provide efficient and accurate billing operations, increased demand for them is boosting the cloud OSS BSS market growth.
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