Global Operation & Business Support System Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Princeton, NJ -- (SBWIRE) -- 06/18/2018 -- Operation support system (OSS) & business support systems (BSS) are processes that support the back office activity as well as the activities that take place while interacting with the customers over the network. OSS is liable for managing faults in the network, configuration of networks, and security and service assurance. BSS is accountable for managing rating, billing, revenue assurance, business intelligence, product management, fraud management, and customer management. Research Cosmos expects the global operation support system market to grow from USD 23.95 Billion in 2015 to USD 42.81 Billion by 2020, at a CAGR of 12.3 %. The key driver of OSS/BSS market is the cost-effective business process to gain competitive edge in the industry.
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Network planning & design is dominating the Operation Support System Market solutions, which is used to address strategic planning of networks with detailed specification and configuration of equipment. Network Planning & Design is the most critical step in any network deployment or upgrade, since the planning and design phase provides the most essential foundation for future network build. Strategic planners are required to take care of the network when it needs to expand. They takes into account how quickly new customers are signing up, how different services are being adopted, and how much capacity is being used.
Customer Management software would dominate the Business Support System Market solutions as it helps in collecting customer information to increase customer satisfaction and loyalty. This gives businesses clear and complete vision of their clients and customers, and helps frontline staffs make faster and better informed decisions.
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Telecom enterprise segment is dominating the operation support system market by end user as the telecom enterprises using OSS/BSS solution mainly to serve telecommunications service providers to manage their networks (e.g., telephone networks) and business related functions, such as network inventory, service provisioning, order management, customer care, network configuration, and fault management.
The North American region has the largest share of the global operation support system market, followed by Europe. In North America, the Business Support System Market witnessed a significant growth owing to the strengthening of market for service assurance solution, especially for the telecom sector in terms of revenues with large-scale implementations in the telecom industry over the past years.
To handle the operations of a Network Service Provider (NSP), highly experienced professionals are required. Telecom operators, who are new and not familiar with several OSS/BSS functions, fail to operate and manage public relations and various strategies of BSS. Hence, lack in understanding of OSS/BSS process enable NSPs and CSPs to continue with traditional structure of network management instead of highly efficient OSS/BSS.
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