OSS BSS System and Platform Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 10/04/2017 -- The global operation support system (OSS) and business support system (BSS) system and platform market features a highly fragmented landscape, finds Transparency Market Research (TMR). The leading five players held a combined share of 40.0% of the market in 2015. Some of the prominent companies operating in the market are Nokia Siemens, Hewlett-Packard Company, Accenture Plc, Telefonaktiebolaget LM Ericsson (publ), and Amdocs. These players are increasingly focusing on tapping the vast potential of various emerging economies, in a move to consolidate their shares.
Characterized by low barrier to entry, the market features an intensely competitive landscape. Several players are making alliances with mobile network operators or MNOs to stay ahead of the pack. Several companies are offering advanced OSS and BSS solutions with modern capabilities, equipped with service delivery platforms (SDP), to gain a competitive edge over others
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The global operation support system (OSS) and business support system (BSS) system and platform market stood at US$29.11 billion in 2015 and is predicted to reach a valuation of US$70.97 bn by 2024. The market is projected to clock a CAGR of 10.5% during 2016–2024.
On the basis of component, the OSS BSS system and platform market is primarily divided into OSS and BSS. Within the OSS segment, the market for service assurance is projected to hold the major share by the end of 2024. This is attributed to pressing need for meeting optimum service quality levels in the telecommunication sector and the burgeoning demand for sustained high-speed internet in various developed regions, especially North America and Europe. The OSS market is projected to register an impressive CAGR of 10.7% during 2016 - 2024.
Regionally, the North America is the dominant market as the regional market held the major share in 2015. The dominance is attributed to a presence of vast number of telecom providers and MNO.
Need for Optimum Quality of Service in Competitive Telecom Sector to Bolster Demand
The sustained expansion of the telecommunication sector in various parts of the world is a key factor driving the market. The soaring popularity for convergent billing systems and the intensifying demand for competitive customer care services are the key factors bolstering the uptake of OSS BSS systems. Among customers, the rising demand for data, voice and video, and mobile commerce as a bundled offering from single operator is propping the demand for convergent billing systems. In addition, the growing adoption of these systems is attributed to the need for coordinated view of postpaid and prepaid services among customers.
Furthermore, the burgeoning demand for service assurance and service management applications in various developing and developed countries is a key trend catalyzing the demand for OSS BSS system and platforms.
On account of several telecommunication regulators in various parts of world formulating standards related to ensure optimum quality of service (QoS), several providers are adopting OSS BSS platforms. The growing demand for robust end-to-end telecommunication services is further stoking the demand for these platforms.
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New-Generation Operation Systems and Software Framework to Unlock Exciting Avenues
The burgeoning demand for network monitoring and network designing technologies in various developing and developed is a key factor boosting the market. The growing popularity of augmented networks bodes well for the OSS BSS systems and platforms market.
However, the capability of legacy OSS BSS system is constrained by several factors such as protracted process cycles and limited data accuracy. In addition, mounting concerns regarding data security is likely hampering their adoption in the telecom sector. Nevertheless, the new-generation operation systems and software (NGOSS) framework by TM Forum for supporting next-generation OSS BSS platforms and systems is a major development expected to accentuate the market over the forecast period. The adoption of this framework is likely to accelerate the flexible and low-cost OSS BSS solutions. Further, this is expected to meet the needs of a dynamic telecommunication environment, opening up lucrative avenues for market players across the globe.
The study presented here is based on a report by Transparency Market Research (TMR) titled "OSS BSS System and Platform Market (Component - OSS (Network Design, Network Monitoring, Service Fulfillment, and Service Assurance), BSS (Customer Management, Revenue Management, Product Management, and Order Management), and Service Delivery Platform (SDP)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024."