OSS/BSS Software Market Highlights 2020-2029
The OSS/BSS software market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. Increasing adoption of convergent billing systems to address real-time customer needs, and the enhanced focus to improve operational efficiency are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the surge in adoption of OSS/BSS software among prominent financial institutes and telecom service providers to enhance subscriber engagement and customer experience. For instance, in June 2020, Matrixx Software was selected by AT&T Mexico, a subsidiary of AT&T USA and one of the most prominent mobile players in the Mexican market, for deploying a cloud-native digital commerce platform for its prepaid customers. This cloud-native digital commerce platform will replace multiple legacy Intelligent Network (IN) and Business Support Systems (BSS) to offer a future-proof, web-scale BSS allowing for greater innovation and business agility.
The market is segmented based on solution into service assurance, network management, inventory management, billing and revenue management, service fulfilment, customer and product management, out of which, the billing and revenue management is anticipated to hold the largest share by the end of 2021 on account of increased adoption of convergent billing systems for addressing real time customer needs and to amplify revenues. In addition, the benefits of integrating different charges into a single customer invoice, is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of enterprise size, the small and medium enterprise segment in the global OSS/BSS software market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the widespread adoption of OSS/BSS among small and medium enterprises to drive operational efficiency and enhance customer management.
OSS/BSS Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increased demand of OSS/BSS software from the telecom sector in the region due to factors such as the mounting mobile data traffic, intense competition among telecom operators, and declining average revenue per user. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the proliferation of mobile network operators and communication service providers, accompanied by the adoption of various strategies by telecom service providers in this region to upgrade their existing OSS & BSS to develop new service capabilities and adapt to the changing market scenarios in the region. Along with this, North America also leads in terms of deployment of 5G networks, which is also expected to drive new service opportunities in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the OSS/BSS software market on account of increasing public & private investments for the development of the telecom sector in the region. For instance, on 18 November 2019, the German government released its mobile communications strategy. Under this strategy, the government announced an investment of USD 1.1 billion to boost mobile communications system across the country.
The global OSS/BSS software market is further classified on the basis of region as follows:
Our in-depth analysis of the global OSS/BSS software market includes the following segments:
By Enterprise Size
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Growing adoption of convergent billing systems and enhancing overall customer experience are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Rising concern regarding data security and reluctance to migrate from legacy systems are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing demand of OSS/BSS to improve operational efficiency from telecom sector.
The major players dominating the OSS/BSS software market are Accenture, Comarch SA, Amdocs, Capgemini, and Cisco Systems, Inc., among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by solution, deployment, enterprise size, application, and region.
With respect to application, the BFSI segment is anticipated to hold the largest market share owing to the growing adoption of convergent billing systems and increased focus on overall customer experience.
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