OSS BSS Market worth over $100bn by 2027
Published Date: May 24, 2021 Authors: Preeti Wadhwani, Smriti Loomba
OSS BSS Market size is set to surpass USD 100 billion by 2027, according to a new research report by Global Market Insights, Inc.
The expansive industrial developments and innovations will drive the market growth. The rapid digitization across different sectors is driving enterprises to transition to modern operations support system/business support system (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 market progression.
The stiff industrial rivalry and enterprise-wide focus on customer retention across the globe will propel the demand for billing & revenue management solution in the market
The billing & revenue management segment in the market is projected to witness 15% growth rate through 2027. The system is offered as an integrated part of 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.
The demand for advanced data security and functional capabilities is poised to drive the industry growth for on-premise deployment
The on-premise deployment segment will dominate 65% of the market share by 2027. The additional administration capability of OSS/BSS solutions throughout implementation process is impelling 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 market value.
Browse key industry insights spread across 308 pages with 427 market data tables and 30 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), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The need for improved business performance and efficiency from large enterprises is spurring the market revenue
The large enterprise segment is estimated to hold 60% of revenue share by 2027. 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 manage widespread infrastructure components; thus, the demand for OSS/BSS solutions from these enterprises is predicted to increase significantly, contributing to the segment growth.
Growing demand for OSS/BSS solutions across the BFSI industry to enable rapid digitization is slated to grow significantly in the market
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BFSI application is anticipated to grow exponentially 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.
Extensive network infrastructure developments and digitization across industry verticals are expected to support the industry demand for OSS/BSS solutions
Europe OSS BSS market is projected to reach over USD 15 billion by 2027 owing to 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.
Focus on strategic partnerships for portfolio innovations by key players to augment the industry share
The companies operating in the market are focusing on collaborative initiatives to enhance their portfolio offerings. For instance, in May 2020, Netcracker Technology Corporation partnered with Microsoft Corporation to offer its Digital OSS/BSS and Orchestration applications on Microsoft Azure. This helped the company to integrate Azure AI and Machine Learning (ML) services with Advanced Analytics to add contextual decisioning capabilities.
Some of the key participants 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.