NEXT-GENERATION OSS & BSS MARKET REPORT OVERVIEW
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global next-generation oss & bss market size was USD 35790 million in 2021 and market is projected to touch USD 86292.29 million by 2032 at CAGR 8.33% during the forecast period.
The next-generation OSS & BSS market growth is driven by operators' and businesses' growing need for service assurance, as they search for solutions that would allow them to handle their networks with less involvement from humans. The growing demand for improved business intelligence solutions and improved customer experiences, along with the growing acceptance of software-based delivery of services, are the main factors driving the market's expansion.
Next-generation OSS and BSS systems enable communication service providers to provide real-time invoicing for customers and the related revenue management. Additionally, CSPs use next-generation OSS & BSS to measure customer experience and forecast consumer attrition in accordance with that prediction. These solutions are also improving CSP's growth and revolutionizing the way they do business. During the course of the projection period, all of these will be important drivers of market growth.
COVID-19 Impact: Work-from-Home Policies to Advance Market Share
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The COVID-19 outbreak has drastically altered peoples' daily lives, places of employment, and surrounding environments. The COVID-19 pandemic did not have an impact on the OSS and BSS tool as its use is increasing quickly. This is explained by the reason that these solutions assist operators in addressing the bandwidth issues brought on by the coronavirus pandemic. Additionally, consumers require dependable broadband due to the growing prevalence of work-from-home policies, videoconferencing, and distance learning. Hence, the pandemic advanced the usage of this technology and the market was proliferated.
"Adoption of 5G Technology to Stimulate Market Development "
There are several potential for systems with the introduction of 5G networks. The more complicated requirements and requirements associated with 5G networks, such as enormous machine-type communications, ultra-low latency, and network slicing, may be effectively managed by service providers with the use of these OSS and BSS solutions.
Technologies including AL and ML have the power to completely change the market. By utilizing these technologies, service providers can enhance network efficiency, automate procedures, and offer customized services according to client preferences and behavior.
NEXT-GENERATION OSS & BSS SEGMENTATION
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- By Type
Based on type the global market can be categorized into cable & satellite, fixed & wireless, mobile, MVNO/MVNE.
A substantial CAGR is anticipated for revenue management over the course of the forecast period, as a result of the growing emphasis on payment, settlement, and generating income by the usage of cable & satellite, fixed & wireless, mobile, MVNO/MVNE. One crucial component is real-time billing and charges. The roaming charges and dependable connectivity enable cable & satellite, fixed & wireless, mobile, MVNO/MVNE to charge other operators for the use of their network infrastructure, voice, data, and many other services.
- By Application
Based on application the global market can be categorized into revenue management, service fulfilment, service assurance, customer management, network management system.
The main goals of revenue management, service fulfilment, service assurance, customer management, network management are to facilitate the collection of money from all kinds of rendered services through settlement, charging, and billing. This technology boosts operational efficiency and helps CSPs achieve better time-to-market.
Nonetheless, the service providers employ a variety of technologies, including analytics, with an emphasis on client retention. This aids in customer experience management and aims to comprehend various client behaviors so that the appropriate group is targeted.
"Mergers and Acquisitions to Support Completed Market Expansion"
Numerous manufacturers are delivering a wide range of OSS and BSS technologies in a highly competitive industry. In order to obtain a competitive advantage and increase their market share, vendors are concentrating on strategic alliances, product innovation, and mergers and acquisitions.
Consumers are putting more and more pressure on telecom service providers to deliver seamless, tailored experiences. Service providers can satisfy these demands by offering customized services and proactively resolving problems thanks to OSS and BSS technologies.
"Concentration of Consumer Experience to Foster Industry Progress"
Telecommunications service providers place a high premium on bettering customer experiences. Personalized offers, proactive resolution of problems, and smooth interactions are made possible by next-generation OSS and BSS systems, which increase customer satisfaction and loyalty.
"High Installation Cost of the System to Stop Market Evolution"
The system has a high installation cost and a costly maintenance cost due to its complicated infrastructure. Nevertheless, the prepayment billing system does not support address-based user accounts, which is necessary for the automated process of telecom billing. Therefore, throughout the forecast period, the market is anticipated to be restrained by the aforementioned reasons.
NEXT-GENERATION OSS & BSS MARKET REGIONAL INSIGHTS
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"North America Illustrate Rule over the Industry Attributed to Fast Adoption of 4G Network "
North America held a dominant position in the OSS and BSS industry in 2016 representing a substantial next-generation OSS & BSS market share. When it comes to preferred devices for using the internet, mobile phones are displacing personal computers. The need for customer management has grown as a result of the rising subscriber base and related internet usage, which has fueled the region's expansion in North America.
North America is anticipated to emerge as the regional market with the quickest rate of growth. The fast adoption of 4G network technology by nations is expected to be the primary driver of the industry. With the highest rates of 4G penetration, U.S. and Mexico will continue to lead this trend, fostering regional market expansion.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Infosys Limited (India)
- Ericsson (U.S.)
- Tech Mahindra (India)
- Oracle Corporation (U.S.)
- CSG System International Inc. (U.S.)
- Amdocs Inc. (U.S.)
- Hewlett Packard Enterprise Co. (HPE) (U.S.)
- Telefonaktiebolaget L. M. Ericsson (Sweden)
- Nokia Corporation (Finland)
- Capgemini SE (France)
- Huawei Technologies Co. Ltd. (China)
- Redknee Solutions Inc. (U.S.)
- IBM Corporation (U.S.)
- Tata Consultancy Services Limited (India)
- NEC Corporation (Japan)
January 2023: BNET, Bahrain's newest independent service provider, declared in January 2023 that it will leverage BearingPoint/Beyond's Infonova BSS offering as software-as-a-service (SaaS) developed on AWS. BSS & OSS for BNET's future national fiber broadband network will be strengthened by this solution. The industry is growing as a result of this transition toward operations and company support system apps on public cloud services including AWS and Google Cloud.
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
Market Size Value In
US$ 35790 Million in 2021
Market Size Value By
US$ 86292.29 Million by 2032
CAGR of 8.33% from 2021 to 2032
Historical Data Available
Type and Application
Frequently Asked Questions
What value is next-generation OSS & BSS market expected to touch by 2032?
The global next-generation OSS & BSS market is expected to reach USD 86292.29 million by 2032.
What CAGR is the next-generation OSS & BSS market expected to exhibit by 2032?
The next-generation OSS & BSS market is expected to exhibit a CAGR of 8.33% by 2032.
Which are the driving factors of the next-generation OSS & BSS market?
Mergers and acquisitions and concentration of consumer experience are some of the driving factors of the market.
What are the key next-generation OSS & BSS market segments?
The key market segmentation that you should be aware of, which include, Based on type the next-generation OSS & BSS market is classified as cable & satellite, fixed & wireless, mobile, MVNO/MVNE. Based on application the next-generation OSS & BSS market is classified as revenue management, service fulfilment, service assurance, customer management, network management system.