Digital BSS Market Size is slated to register considerable progression during 2022-2028. A rapid upsurge in the adoption of cloud-based services and the increasing digitalization of eCommerce, BFSI, automobile, healthcare, telecom, and IT sectors will propel the demand for digital BSS in the forthcoming years.
A digital marketing support system helps promote customer-centric business operations and improve digital engagement by allowing the service providers to offer customized services to their clients. The growing requirement to improve customer acquisition by digitizing the customer experience through built-in CRM functionality will push the industry forecast in the foreseeable future.
The incorporation of personalized business support systems and new commercial models in the business processes is likely to foster the digital BSS market outlook in the years to come. Emerging complexity in the IT infrastructure and the inflating usage of solutions and services across the telecom industry will bolster the market share over the projected timeframe. In addition, the proliferating product application in several end-use industries for convergent billing systems will further support industry expansion.
Based on the deployment model, digital BSS is bifurcated into on-premise and cloud segments. The cloud deployment model may gain traction driven by the various benefits it has to offer. Cloud services play a vital role in ensuring the success of an enterprise. It provides exceptional customer service that may give a distinct advantage over other competitors. Furthermore, it is environment friendly, increases overall business productivity, scalability, disaster recovery, is cost-effective, easy to upgrade and maintain, offers better security and document control, and faster implementation cycles.
North America digital BSS market may experience substantial growth over the analysis period driven by the increasing digitalization and growing R&D investment and activities by key industry players in the region. The rising adoption of advanced technologies in covalence with supportive government initiatives to improve IT infrastructure will further push the regional growth in the coming years.
The Asia Pacific may register considerable expansion due to an upsurge in the number of smartphone users resulting in a booming telecom sector in the region. Moreover, new and improved product innovation and growing adoption of IoT technology are likely to propel the segment expansion over the projected timeframe.
Some of the promising players of the digital BSS market include Huawei, Amdocs, Ericsson, CSG International, NetCracker, Nokia, Capgemini, IBM, ZTE Corporation, Openet, Optiva, Cerillion, Sigma Systems, Sterlite Tech, Comarch, Accenture, Mahindra Comviva, Infosys, Oracle, MIND CTI, Qvantel, MATRIXX Software, BearingPoint, FTS, TCS. These companies are engaged in tried-and-tested growth tactics that help increase their market value and enhance their position amid their competitors.
In November 2021, Celcom expanded its partnership with TCS, enabling the former to access customer insights and real-time data to enhance business simulations for better costs, revenue, and optimized operations.
The Digital BSS industry experienced a decent setback during the initial days of the pandemic due to the imposition of lockdowns restrictions across major economies. But, with the unforeseen changes in the education and corporate sector, the industry made a comeback within a few weeks. Travel and movement restrictions along with self-isolation norms introduced work from home culture in major enterprises, supporting the market growth. In addition, emerging trends for online shopping and payment further boosted the industry outlook during the pandemic.
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Market, by Deployment Model
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The above information has been provided for the following regions and countries: