Based on a report published by Global Market Insights, the OSS/BSS market size is anticipated to exceed USD 100 billion by 2027. Rising demand for streamlining customer service functions and ensuring high-quality service delivery will stimulate the implementation of OSS/BSS solutions across various business verticals.
Burgeoning adoption of broadband services over mobile networks could boost the adoption of OSS/BSS platforms. OSS/BSS (Operations Support/Business Support Systems) helps telecom service providers in supervising the service order involvement for customers and networks, with functions from network configuration, fault management, service provisioning, inventory, and order management. Huawei OSS, Alcatel-Lucent OSS, Optiva Revenue Management Suite, and Nokia Operations Support Systems (OSS) are some of the leading OSS/BSS platforms currently in the market.
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Rising digitalization along with a shift towards cloud-based software solutions is observed around organizations. Cloud-based software solutions offer the flexibility, scalability, and ease to keep pace with innovation. The cloud-based software solution to access data remotely deprived of robust IT staffing or complex technical configuration. The number of organizations deploying business intelligence (BI) in the cloud has doubled over the past two years.
Some of the key players operating in the industry are CA Technologies, Accenture Plc, BMC Software, Inc, Agile Network Systems, Comarch SA, Cisco Systems, Inc., and Amdocs Ltd. These leading players are focusing on taking strategic initiatives like emerging technologies, such as big data analytics and 5G, to develop innovative solutions for customers along with concentrating on digital transformation to serve user-friendly solutions across communication service. In May 2020, Tech Mahindra partnered with Openet to accelerate the digital transformation across communication service providers.
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Extensive adoption of next-generation OSS/BSS in SMEs (small-medium enterprises) globally for improving operational efficiency and to increase entrepreneur’s skills and knowledge. Currently, numerous SME’s are experiencing the need to adapt OSS/BSS as they are entering into the digital era. Recently, Telefónica’s wholesale and roaming business announced that it would leverage Netcracker’s E2E BSS/OSS and transformation expertise to deliver digital services faster.
The Asia Pacific OSS/BSS market is likely to grow significantly with around 15% CAGR over the forecast period. The regional market growth is majorly attributed to wide investments in the commercialization of 5G along with increasing penetration of LTE among developing economies like China and India.
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Additionally, companies operating in the region are partnering with cloud providers to launch innovative solutions for customers. Citing an instance, Whale Cloud collaborated with Alibaba Cloud in June 2020 to launch its cloud-based OSS/BSS market solution suite. This launch is expected to aid the enterprises to provide customized services to the customers.
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