NEXT GENERATION OSS & BSS MARKET REPORT OVERVIEW
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The global next generation OSS & BSS market size was USD 41,780 million in 2021 and is projected to touch USD 72539.15 million by 2031, at a CAGR of 5.6% during the forecast period.
Next generation OSS (Operation Support System) is a processor or system used by telecom operatives to achieve their networks. It supports organization tasks such as network catalog, network formation, fault supervision, and facility provisioning. Next generation (BSS) business support systems are used to support numerous end-to-end telecommunication facilities. Next generation OSS and BSS bids mechanization of billing, customer service, communication service, performance management, and network optimization. It supports telecommunication service suppliers to observe, switch, examine and achieve a telephone or computer network.
The growing penetration of mobile and smartphone devices and network services is a key driving factor for the global next generation OSS and BSS market. Smartphones are the main platform for consuming the internet. OSS and BSS structure deals with an effective business deal, control industrial procedure, support enterprise communication, and inform the company database. Moreover, telecommunication service suppliers are aiming at a great significance mobile application and their equivalent content to bid for higher facilities.
COVID-19 Impact: Work from Home Policies to Accelerate Market Growth.
The global COVID-19 pandemic has been unprecedented and staggering, with next generation OSS & BSS experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the next generation OSS & BSS market growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic has boosted the growth of the next-generation OSS & BSS market across the globe. The implementation of work from home policies and online education has pitched the usage of the internet and other connected devices, thus pushing the want to use OSS and BSS stages and services for data management. The need for ensuring contactless services and maintaining social distancing is expected to trigger market growth. Furthermore, rapid technological growth and distribution of cloud, data analytics, and big data tools for and the development of corporate are projected to generate the market growth for OSS & BSS solutions over the post-pandemic age.
"Technological Advancement ""to Bolster Market Progress"
The advancement of the next generation OSS & BSS market has been focused on technological advancements alongside extensive cloud adoption by communications service providers to preserve developing user requirements. Moreover, the widespread disposition of 5G technology and the rushing importance of next-generation schemes in consumer and profits management are expected to boost market share in the coming years. With the rapid advancement of networks, CSPs have sensed the requirement to transfer their OSS and BSS to the cloud to achieve and recollect a competitive edge in the industry. For this purpose, many CSPs are selecting cloud-native methods to gather the benefits of cloud adoption.
NEXT GENERATION OSS & BSS MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into Hardware, Software, and Service.
Hardware is a leading segment in the global market. It is a physical share of a telecommunications structure that can be used for directing or changing. It contains routers, controls, servers and storing devices. It typically supports in improving the performance and functionality of devices like smartphones, computers, etc.
- By Application Analysis
Based on application, the market is classified into Revenue Management, Service Fulfilment, Service Assurance, Customer Management, and Network Management Systems.
Revenue management is the leading segment in the global market. The real-time provisioning and billing procedure with combined data from numerous structures can be measured by means of incorporating into an intelligent system that delivers corporate value, fulfillment, and increase inadequacy.
"Increasing Adoption in Telecom Sector to Facilitate Industry Progress"
The telecom service business depends profoundly on these tools for offering improved value schemes. Telecom service suppliers are managing investment in these tools to distinguish their facility proposing in a competitive market and drive lucrative profits growth. Verification of telecom service subscribers over non-traditional identifiers and hot provisioning will be major factors for these tools due to the growing significance of data privacy and safety. Competition, customer requirement, and cost decline are the key features imposing telecom sector to estimate their BSS-OSS crack and rise their expenditure to close it.
"Increasing R&D Activities to Magnify Market Growth"
Major factors that are stimulating the evolution for this market comprise the rising need for commercial alertness with speed, an increasing number of mobile consumers demanding fast internet speeds together with better service quality, growing demand for cloud-native applications, and digital alteration advantages across administrations prominent concerning major technology disruptions such as NFV/SDN & IoT adoption among others factors. Moreover, an upsurge in modernizations in communication services and rising demand for customer involvement administration may lead to better chances for the evolution of the global next generation OSS and BSS market over the forecast period.
"Data Privacy Issues to Impede Market Progress"
The necessity for highly technical network management procedures may hinder the growth of the global next generation OSS and BSS market. The need to preserve data privacy is becoming difficult with the growing number of subscribers in the telecom business. Concerns concerning the safety of data and expense are increasing owing to the growing quantity of data being created and online transactions being performed in the telecom sector.
NEXT GENERATION OSS & BSS MARKET REGIONAL INSIGHTS
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"Smartphone Users to Bolster Growth in North America"
North America is expected to dominate the next generation OSS & BSS market share due to the growing usage of smartphones as a substitute for computers, and internet management dedication among the millennial population. Therefore, increasing numbers of subscribers for internet usage are expected to make a demand for the developing perception of customer management thus stimulating the next generation OSS & BSS market growth.
Asia Pacific is expected to have a sizable market share. Countries in the region such as China and India witnessed considerable advancement the due to approval of 4G network technology in this region. The rapidly increasing telecom business, the existence of a sturdy network, and an upsurge in the usage of mobile are anticipated to fuel the market growth.
KEY INDUSTRY PLAYERS
"Companies Adopt Technologically Advanced Production Techniques to Improve Market Position"
The next generation OSS & BSS market is made up of a number of companies that operate in the industry. Market conditions, government legislation, and industry development all influence company growth potential. The majority of firms are concentrating on enhancing their market position, global presence, and product portfolio. The development in this market is owing to combined research advantages, geographical enlargements, new product expansion, and mergers & acquisitions. Corporations are deeply financing R&D for next generation OSS and BSS growth to maintain competitiveness.
- February 2022: Ericsson together with Telefónica, and Samsung, established a resolution for 5G collaborating calling, established on IMS data channel standard and Ericsson Cloud IMS network.
List of Market Players Profiled
- Accenture Plc (Ireland)
- Amdocs (U.S.)
- Capgemini SE (France)
- CSG System International (U.S.)
- Hewlett Packard Enterprise (HPE) (U.S.)
- Huawei Technologies (China)
- Infosys (India)
- Ericson (Sweden)
- Nokia ZTE (Finland)
- Samsung (South Korea)
- IBM (U.S.)
- Guavus (U.S.)
- Nucleus Connect (Singapore)
- Turkcell (Turkey)
- Telcordia (U.S.)
This report covers the entire scope of the market research for next generation OSS & BSS sales. The report's market estimations are based on extensive secondary research, primary interviews, and in-house expert reviews. These market estimations were derived by analyzing the impact of different social, political, and economic factors and current market dynamics on the growth of the explosion panels industry.
Market Size Value In
US$ 41780 Million in 2021
Market Size Value By
US$ 72539.15 Million by 2031
CAGR of 5.6% from 2021 to 2031
Historical Data Available
Type, Application & Region
Frequently Asked Questions ON Next Generation OSS & BSS Market
What is the value of the next generation OSS & BSS market in 2031?
- Based on our research, the next generation OSS & BSS market is USD 72539.15 million by 2031.
What CAGR is the next generation OSS & BSS market expected to exhibit by 2031?
- The next generation OSS & BSS market is expected to exhibit a CAGR of 5.6% by 2031.
Which are the driving factors of the next generation OSS & BSS market?
- Increasing adoption in the telecom sector and R&D activities are the factors driving the next generation OSS & BSS market.
Which are the top companies operating in the next generation OSS & BSS market?
- Accenture Plc, Amdocs, Capgemini SE, CSG System International, Hewlett Packard Enterprise (HPE), Huawei Technologies, Infosys, Ericson, Nokia ZTE, Samsung, IBM, Guavus, Nucleus Connect, Turkcell, Telcordia are companies operating in the next generation OSS & BSS market.