The major factors driving the growth of this market are the rising adoption of modified OSS BSS solutions and services and growing usage of convergent billing solutions.
New York, NY -- (SBWIRE) -- 06/27/2019 -- Market Size – USD 23.95 Billion in 2019, Market Growth - CAGR of 12.3% between 2019 and 2026, Market Trends – Adoption of modified OSS BSS solutions and services, increasing usage of convergent billing solutions
The Operation Support Systems and Business Support Systems market is expected to grow from USD 2.77 Billion in 2019 to USD 8.78 Billion by 2026, at a CAGR of 22.0% from 2019 to 2026. The market is h driven by the growing demand among organizations to offer enhanced customer experience.
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The demand for OSS BSS is driven by factors, such as the deployment of customized OSS BSS systems and services, growing usage of convergent billing systems, the shifting focus of Communication Service Providers (CSPs) on enhancing customer experiences and minimize operational expenses
The market is hugely driven by the growing trend of outsourcing services in the telecom industry. As telecommunication service providers suffer due to the rising amount of data, the focus should also be given on providing innovative services that will help them in retaining customers. Several organizations are looking to outsource their OSS/BSS functions so that they can focus on the creation of enhanced products and services.
Further key findings from the report suggest
- The Operation Support Systems and Business Support Systems market is expected to grow from USD 2.77 Billion in 2019 to USD 8.78 Billion by 2026, at a CAGR of 22.0% from 2019 to 2026. A rise in the demand for cloud-based solutions is expected to drive the OSS & BSS market.
- The telecom enterprises users are expected to contribute the largest market share in the OSS/BSS market with revenue of USD 2.4 Billion in 2026, at a CAGR of 25%. BFSI manufacturing and retail are expected to be the key users during the forecast period. OSS/BSS systems largely support functions of network management for the telecom industry. Increase in Billing & Revenue Management is contributing toward the adaption of OSS/BSS models by telecom vendors as it helps to gain greater agility and flexibility at low costs.
- The Service assurance segment in OSS/BSS market is expected to grow the highest during the forecast period at a CAGR of 35%. The vital factors attributed to the growth of the market are growing requirements among organizations to offer enhanced customer experience.
- On the basis of deployment model, cloud deployment is expected to grow the highest with revenue of USD 3.3 Billion, at a CAGR of 36% from 2019-2026. The vital factors attributed to the growth of the market are growing adoption of cloud models in organizations. Cloud model is also largely implemented for operational document procedures. It also provides a flexible configuration and re-usability, which simplifies the process of launching a new service.
- On the basis of user, the BFSI sector is expected to grow at the highest CAGR during the forecast period. Due to the inclination of the BFSI sector towards digitization and automation and the growing needs of the consumer. The OSS/BSS system allows the entities to analyze and interpret the data and financial situation.
- On the basis of region, the Asia-Pacific is expected to attain the largest market growth during the forecast period. Increase in the penetration of the internet services and 4G/VoLTE network among the developing economies including India and China is the primary factor driving the market growth
- Major players in the OSS/BSS market are Amdocs (US), Accenture (US), HP Enterprises (US), CSG Systems (US), Ericsson (US), Netcracker (US), Optiva (Canada), Microsoft (US), Tata Consultancy Services (India), Oracle (US), and IBM (US).
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Segments covered in the report:
For the purpose of this study, Reports and Data have classified the data into the following segments:
Global OSS/BSS Market, By Solution-Type (Revenue, USD Million; 2016–2026)
o Service Assurance
o Network Management
o Inventory Management
o Billing and revenue management
o Service fulfillment
o Customer and product management
Global OSS/BSS Market, By Deployment-Type (Revenue, USD Million; 2016–2026)
Global OSS/BSS Market, By Company Size (Revenue, USD Million; 2016–2026)
- Large Enterprises
- Small and Medium-Sized Enterprise
Global OSS/BSS Market, By User (Revenue, USD Million; 2016–2026)
- Telecom and IT
- Media & Entertainment
- Banking, Financial Services, and Insurance
Global OSS/BSS Market, By Region (Revenue, USD Million; 2016–2026)
- North America
- Latin America
- Middle East & Africa
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