OSS BSS Market size is set to surpass USD 130 billion by 2028, according to a new research report by Global Market Insights Inc.
The market growth is attributed to the expansive industrial developments and innovations. The rapid digitization across different industry sectors is driving enterprises to transition to modern OSS BSS infrastructure from the legacy systems. The collaborative initiatives to accelerate the commercialization of 5G services and telecom infrastructure development are expected to fuel the market expansion. The demand for streamlining customer service functions along with service assurance is supporting the industry demand.
Growing demand for convergent billing systems across the globe will augment the billing & revenue management solution market value
The billing & revenue management segment is projected to witness around 15% growth rate through 2028. The system is offered as an integrated part of OSS BSS and supports multiple business models including B2B, B2C, and B2B2X over a unique infrastructure. The system assists companies in streamlining the customer lifecycle management processes. Enterprises also leverage the extended features of this system to deliver personalized services to multiple customers.
Enhanced data security and a firm control over the implementation process are predicted to foster the market demand for on-premise OSS BSS deployment
The on-premise deployment segment is estimated to account for 60% of market share by 2028. The additional administration capability of OSS BSS solutions throughout the implementation process is driving enterprises to focus on on-premise deployment. The on-premise deployment of OSS BSS solutions benefit companies with extended infrastructure management and monitoring capabilities. The enhanced customization and scalability offered by on-premise deployment is enabling the industry opportunities.
Browse key industry insights spread across 300 pages with 435 market data tables and 35 figures & charts from the report, “OSS BSS Market Size, By Solution (OSS [Service Assurance, Network Management, Inventory Management], BSS [Billing and Revenue Management, Service Fulfillment, Customer and Product Management]), By Deployment Model (On-premise, Cloud), By Enterprise Size (Small & Medium Enterprise (SME), Large Enterprise), By Application (IT & Telecom, BFSI, Media & Entertainment), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Rising complexities in managing widespread network components faced by large enterprises are spurring the market revenue
The large enterprise segment is poised to expand at more than 10% CAGR during 2022 and 2028. The enterprise-wide demand for improved end-to-end service delivery and business performance is supporting the adoption of OSS BSS solutions across large enterprises. The companies are also focusing on enhancing their operational performance and managing widespread infrastructure components; thus, the demand for OSS BSS solutions from these enterprises is slated to increase significantly, contributing to the segment growth.
Seismic shift of the BFSI industry toward cloud and mobile-oriented services to reshape the market
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BFSI segment is anticipated to grow significantly during the forecast timeline led by the need for infrastructure digitization and modernization across banking enterprises. Several enterprises are collaborating with technology players to deliver seamless financial services. For instance, in November 2020, TMCEL Mozambique partnered with Ericsson to expand its digital services using Ericsson’s BSS solution. Under this partnership, Ericsson helped the company with its BSS and mobile money solution to deliver enhanced financial services to the customers in the market.
Matured telecom landscape and rising investments in expanding digital connectivity are projected to accentuate the regional progression across Europe
Europe OSS BSS market is expected to reach USD 20 billion by 2028 due to the extensive telecom network infrastructure developments and internet connectivity expansion. The companies operating in the region are assisting regional enterprises with their advanced solutions to deliver network services. For instance, in April 2020, Comarch SA provided its Smart BSS solution for B2B & B2C processes to VALO Networks. The use of this solution helped VALO Networks to optimize its fiber optic service offerings and support the modernization of existing solutions.
Product co-development partnerships between vendors and technological leaders emerging as the premier go-to-market strategy
Some of the key players operating in the market are Accenture Plc, Agile Network Systems, Amdocs Ltd., BMC Software, Inc., CA Technologies, Cisco Systems, Inc., Comarch SA., CSG Systems International, Inc., Hewlett Packard Enterprise (HPE), Huawei Technologies Co., Ltd., IBM Corporation, Infosys Limited, Netcracker Technology Corporation, Nokia Corporation, Oracle Corporation, Optiva, Inc., Subex Limited, Tata Consultancy Services (TCS) Limited, Tech Mahindra Ltd., and Telefonaktiebolaget LM Ericsson. These companies are focusing on collaborative initiatives to enhance their portfolio offerings.