Global OSS & BSS Market to Reach US$ 88.1 Billion by 2028, Propelled by Widespread Adoption in IT and Telecom Sector

December 01, 2022

According to the latest report by IMARC Group, titled “­­OSS & BSS Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” the global OSS & BSS market reached a value of US$ 53.8 Billion in 2022. An operation support system (OSS) is an information processing system used by operators to control, examine, manage, and improve communications and device networks. It deals with order processing and service provisioning operations, which involves customer assistance maintenance, management of routers, servers, and electronic devices, and network planning. Meanwhile, a business support system (BSS) represents administrative services that are employed to execute customer-oriented operations, including billing, order administration, customer relationship management (CRM), and call center automation. OSS and BSS are interchangeable solutions that improve efficiency by promoting effective internal communications, enhance the quality of service (QoS), and offer scalability, security, and better outreach. As a result, OSS & BSS systems are widely used by network planners, operations, architects, service designers, support, and engineering teams of the service provider.

Global OSS & BSS Market Trends:

The widespread adoption of OSS and BSS across the telecommunication sector for fault and performance management, network security, and customer activation operations is primarily driving the market growth. In line with this, the increasing need to reduce capital expenditure (CAPEX) and operational expenditure (OPEX) and the escalating demand for centralized customer support systems are acting as another growth-inducing factor. Such solutions provide an omnichannel experience, transform administrative architecture, and offer an exceptional user experience. Moreover, the extensive usage of cloud-based OSS and BSS, due to their flexibility, cost-efficiency, and better administrative task optimization capability, is favoring the market growth. Additionally, the large-scale integration of the internet of things (IoT) and the development of new generation OSS (NGOSS) are impelling the market growth. Furthermore, the introduction of a convergent billing system that offers superior invoicing functionality and excellent customer service and support is supporting the market growth. Besides this, the escalating employment of industrial automation, business intelligence (BI), artificial intelligence (AI), and machine learning (ML) technologies to streamline organizational operations and the emergence of fifth-generation (5G) applications and services are positively augmenting the market growth. Looking forward, the market value is projected to reach US$ 88.1 Billion by 2028, expanding at a CAGR of 12.21% during 2023-2028.

Market Summary:

  • Based on the component, the market has been bifurcated into solution and services.
  • On the basis of oss solution type, the market has been divided into network planning and design, service delivery, service fulfillment, service assurance, billing and revenue management, network performance management, customer and product management, and others.
  • Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based.
  • On the basis of the organization size, the market is segregated into small and medium-sized, and large enterprises.
  • Based on the industry vertical, the market is categorized into IT and telecom, BFSI, media and entertainment, retail and e-commerce, and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Amdocs, Cisco Systems Inc., Comarch SA, Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., Infosys Limited, Netcracker Technology Corporation (NEC Corporation), Nokia Corporation, Oracle Corporation, Suntech S.A. and Telefonaktiebolaget LM Ericsson.
     

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Global OSS & BSS Market to Reach US$ 88.1 Billion by 2028, Propelled by Widespread Adoption in IT and Telecom Sector
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