The OSS/BSS market in Europe is projected to grow at a CAGR of over 8% from 2018 to 2024. The market growth is attributed to investments by the government and several private companies for the development of the telecom sector.
Sellbyville, DE -- (SBWIRE) -- 11/01/2018 -- The Asia Pacific OSS/BSS market is projected to register an accelerated growth at a CAGR of over 10% during the forecast period. With the growing popularity of smartphones, there has been an increase in the consumption of the mobile broadband services resulting in new OSS/BSS requirements. The complexity of network technologies has compelled the telecom operators to adopt new-generation OSS/BSS systems to ensure uninterrupted network services. As the CSPs face challenges related to costs, the OSS/BSS platforms help them to lower their network related cost by outsourcing BSS activities to managed service providers.
OSS/BSS Market is projected to surpass USD 50.3 billion by 2024. The network operators are transforming their traditional Operational Support Systems (OSS) and Business Support Systems (BSS) to meet the increasing demand for better service assurance in the telecom sector, to reduce the operational expenditure (OPEX), and to meet the higher service delivery standards.
Request for a sample of this research report @
With the introduction of next-generation technologies, the communication service providers are moving toward integrated OSS/BSS platforms that pro-actively identify network faults, initiate the resolution action, and track the service performance. These platforms work together to support the network processes such as network inventory maintenance, service delivery & fulfilment, and enhancement of customer support operations including the processing of orders & bills, payment collection, value-added services, and billing.
OSS platforms are mainly concerned with the business processes that enable the interaction with customers. As each vendor can supply their own Element Management Systems (EMS) or Network Element Manager (NEM), the OSS applications are designed run on multiple vendors? devices, ensuring consistency and streamline network management. On the other side, he BSS platforms help businesses support applications to introduce new revenue-generating services and to provide the capability for dealing with customers and processes such as taking orders, processing bills, and collecting payments. An integrated OSS/BSS platform enables CSPs to transform their inflexible operational infrastructure into agile systems.
The OSS solutions segment held a majority share accounting for nearly 50% of the OSS/BSS market in 2017 and is expected to hold a dominant share throughout the forecast timeline. The growing need among telecom service providers to outsource the operation support services is the primary factor driving the market. In this segment, the inventory management segment is estimated to hold a major share of over 40% by 2024 due to the increased demand for the automated inventory management solutions among telecom service providers. The communication network is evolving rapidly into more complex service platforms with multi-vendor systems and layered technologies. This is encouraging network operators to deploy more flexible and reliable systems to maintain and manage the network configuration.
In the BSS segment, service fulfillment solutions are projected to register growth with a CAGR of over 10% due to the demand for an integrated software solution that offers services ranging from assembly services to the delivery of service to the customers.
As per the deployment model, the on-premise segment is expected to dominate the overall OSS/BSS market with a share of over 63% in 2024. The growth of the market is attributed to the robust functionality and superior data security provided by the deployment model. Since the software used is licensed and the entire instance of software remains within an organization?s premises, there is more control in terms of security. The on-premise system also offers organizations with the more control over the implementation process. As a result, organizations can customize their systems as per their requirements.
Large enterprises dominated the OSS/BSS market with a share of more than 70% in 2017. The growth of the segment is credited to the need among various enterprises to effectively manage their widespread network components and the need to increase the operational performance.
The OSS/BSS market in Europe is projected to grow at a CAGR of over 8% from 2018 to 2024. The market growth is attributed to investments by the government and several private companies for the development of the telecom sector. For instance, in July 2017, the German government granted approximately USD 1 billion worth of subsidies for high-speed and fiber-based telecom networks, accelerating the digital transformation in the country. The telecom companies in the region are also taking many efforts for the commercialization of the 5G technology, thereby increasing the demand for updated OSS/BSS systems for delivering an enhanced user experience to its customers. As the 5G networks will bring broadband equivalent network speeds over the mobile network, the operators must replace their legacy OSS/BSS systems to enable cross business cooperation, accelerate the service delivery, and improve the ability to handle the complex systems.
Make an inquiry for purchasing this report @
Many of the major communication service providers also offer their OSS/BSS solutions to allow telecom operators to achieve the highest level of adaptability, speed, and efficiency for addressing the challenges of digital transformation. These companies engage in strategic partnerships and collaborations with software providers to combine their collective expertise in software development and communication services. For instance, in November 2017, Eastern Communications, a leading enterprise communication service provider in the Philippines and Tata Consultancy Services, one of the leading global IT service providers entered into a partnership. Under this partnership, TCS HOBS, the company?s next-generation platform for subscription-based digital businesses was implemented by Eastern Communications to modernize its legacy billing system.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.