OSS/BSS Market Trends Analysis to 2024 Major Key Players are Accenture, Amdocs, BMC Software, CA Technologies, Cisco, Comarch, Ericsson, Hewlett Packard Enterprise, Huawei Technologies, IBM, Infosys, Nokia, Oracle, Redknee, Subex

Operations & Business Support System (OSS/BSS) Market size is set to exceed USD 50 billion by 2024. The OSS/BSS market is propelled by the increasing trend of outsourcing services in the telecom industry. As telecommunication service providers grapple with the increasing amount of data, they also need to focus on providing innovative services that will aid them in retaining customers. Numerous companies are willing to outsource their OSS/BSS functions so that they can concentrate on next-generation products and services. By outsourcing OSS/BSS workflows to an independent service provider, telecom companies are achieving an improved level of customer service assurance. The independent OSS/BSS partners offer specialized expertise and deliver services with defined KPIs including hosting, support services, application operation/administration along with the responsibility for the adoption of new network technologies.

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Growth Opportunity: -

• Surge in demand for service assurance
• Growing need for lowering operational expenses (OPEX)
• Growing adoption of convergent billing systems
• Increasing trend of outsourcing OSS/BSS services
• Growing adoption of cloud platforms among CSPs

Key Market Competitors are Accenture, Agile Network Systems,Amdocs, BMC Software, CA Technologies, Cisco, Comarch, CSG Systems International, Inc., Ericsson, Hewlett Packard Enterprise, Huawei Technologies, IBM, Infosys, Netcracker Technology, Nokia, Oracle, Redknee,Subex, Tata Consultancy Services, Tech Mahindra.

Service assurance segment in operations & business support system market is anticipated to attain the growth rate of over 8% during the forecast timeline. The market is driven by the rising needs among enterprises to provide enhanced customer experience. As the customers are becoming more empowered due to rapid digitalization and easy availability of information, organizations start to focus more on improving enhanced customer experience to boost their churn rate.

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Cloud deployment is projected to grow at a CAGR of about 10% during the projected period. Cloud models allow organizations to benefit from best practices, document operational procedures, and are well-proven business models. The cloud model also offers flexible configuration and re-usability, which simplifies the process of launching a new service. Moreover, the model also enables organizations to streamline their business process.

BFSI sector emerged as the major end-user of the OSS/BSS market. It is estimated to grow at the CAGR of more than 11% during the forecast period. As the BFSI sector is moving more toward digitalization and automation, it is looking for more advanced solutions to analyze the information from numerous areas to develop its own competitiveness. The OSS/BSS system allows the organization to analyze the data and financial situation of an organization. The system also enables financial institutes to streamline their operations, scale up their operation, and develop more effective marketing strategies while keeping the cost of the operations low.

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The Asia Pacific OSS/BSS market is expected to register a lucrative growth between 2018 and 2024 while registering a CAGR of over 10%. The excellent growth is attributed to a rapidly growing telecommunications infrastructure in the region, especially in China and India, along with the growing penetration of smartphones leading to an increase in the consumption of mobile broadband services. With significant investments being made in these countries for the commercialization of 5G networks, the demand for modern OSS/BSS solutions by CSPs will increase rapidly throughout the forecast period for delivering an enhanced user experience to the customers.

The competition in the OSS/BSS market is characterized by strategic collaborations and partnerships among the CSPs and the OSS/BSS software solution providers for delivering comprehensive product offerings to the customers. For instance, in November 2017, Eastern Communications, a leading enterprise communication service provider in the Philippines, and Tata Consultancy Services, one of the leading global IT service providers, entered into a partnership. Under the partnership, TCS HOBS, the company’s next-generation platform for subscription-based digital businesses was implemented by Eastern Communications to modernize its legacy billing system. Similarly, in October 2014, Ericsson formed a global OSS/BSS partnership with TIBCO Software, wherein TIBCO middleware was included in an extensive portfolio of OSS/BSS software along with consulting and systems integration services offered by Ericsson.

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