OSS BSS System and Platform Market to Advance at CAGR of 11.5% During 2021-2031: TMR Study
- Telecom operators keen on adopting next-gen OSS/BSS solutions for promoting customer-centric business operations by managing operational & communication networks, generating revenue streams
- Massive demand for cloud-based OSS/BSS framework in various end-use industries underpins vast avenue; Asia Pacific OSS BSS system and platform market to witness lucrative avenues
ALBANY, N.Y., March 28, 2022 /PRNewswire/ -- Businesses in various industry verticals are leveraging operations support systems (OSS) and business support system (BSS) for implementing customer-centric strategies in product management, customer relationship management, and inventory management. The demand for digital OSS BSS system in the telecom sector has created value-grab opportunities for companies in the OSS BSS system and platform market. The global valuation is projected to exceed US$ 125.62 Bn by 2031.
Small and medium scale enterprises across industries are applying OSS BSS platforms for optimizing operational and communication networks, expanding the avenue of OSS BSS system and platform market. Next-gen platforms are enabling end users to automate the entire customer lifecycle. Of note, end users in the BFSI, retail, and government sector are reaping large revenue gains from the use of convergent billing systems, observed the analysts in an in-depth scrutiny of the OSS BSS system and platform market.
The prospects of 5G-ready and cloud-based solutions equipped with AI is rapidly expanding, assert the TMR analysts in the OSS BSS system and platform market study. The introduction of cloud-native digital business system is expected to generate new revenue streams for communication service providers.
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Key Findings of OSS BSS System and Platform Market Study
- Rapid Adoption among Small & Medium Enterprises (SMEs) to Drive Vast Revenue Gains: The adoption rate of OSS BSS solutions is expected to be high among SMEs, where the platforms will be crucial in boosting the operational productivity. This is expected to generate vast profitable avenues, note the authors of the TMR study on the OSS BSS system and platform market. In coming years, the use of OSS/BSS systems in delivering personalized customer experiences will become crucial for these enterprises, thus propelling revenue gains to solution providers.
- End Users Gain from Several Benefits of Cloud-Based OSS BSS Models: Cloud solutions endow splendid flexibility and scalability for end users, assert the analysts in the study on OSS BSS system and platform market. Communication service providers (CSPs) are increasingly benefitting from cloud-based OSS/BSS framework.
- Digital Models Based on AI And Machine Learning Tech Be Game-changer: Digital models based on AI and machine learning technologies will open up an incredible avenue for the telecom industry, notes the TMR study on the OSS BSS system and platform market. AI-native BSS for instance will pave the way to new frontiers for CSPs. 5G and the Internet of Things (IoT) are constantly extending the horizon for industry players in the OSS BSS system and platform market.
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OSS BSS System and Platform Market: Key Drivers
- End-use industries are becoming more aware about benefits of OSS BSS systems and platforms in enriching customer-centric business operations. The telecom industry of note has leveraged OSS BSS systems for commercialization of wireless networks, such as 4G. They are adopting the systems to expand the array of value-added services.
- Intensifying need for easy-to-use and digital OSS BSS solutions is driving the OSS BSS system and platform market
OSS BSS System and Platform Market: Regional Growth Dynamics
- North America held a leading share of the global OSS BSS system and platform market in 2020. Presence of relatively large number of players and constant innovation in the telecom networks will spur revenue gains during the forecast period of 2021–2031.
- The Asia Pacific OSS BSS system and platform market is replete with opportunities. Rising demand for solutions in the IT & telecom sector is underpinning incredible avenues, and emerging economies including China and India are expected to generate new revenue streams.
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OSS BSS System and Platform Market: Key Players
Some of the key players in the OSS BSS system and platform market are Cisco Systems, Inc., Cisco Systems, Inc., IBM Corporation, Amdocs Ltd., Amdocs Ltd., Tata Consultancy Services Limited, Tata Consultancy Services Limited, NetCracker, Huawei Technologies Co., Ltd., and Oracle.
Global OSS BSS System and Platform Market: Segmentation
OSS BSS System and Platform Market, by Component
- Solution
- Operation Support System (OSS)
- Business Support System (BSS)
- Services
- Professional Services
- Managed Services
OSS BSS System and Platform Market, by Deployment
- On-premise
- Cloud-based
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OSS BSS System and Platform Market, by Enterprise Size
- Small and Medium Sized Enterprises
- Large Enterprises
OSS BSS System and Platform Market, by Industry Vertical
- IT & Telecom
- BFSI
- Healthcare
- Utility
- Media & Entertainment
- Government
- Others
OSS BSS System and Platform Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Brazil
- Argentina
- Rest of South America
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