Cloud OSS BSS Market Forecast to 2030 - COVID-19 Impact and Global Analysis By Solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product M

According to our latest study on ""Cloud OSS BSS Market Forecast to 2030 -Global Analysis - by Solution, Deployment Model, Enterprise Size, and Industry,"" the cloud OSS BSS market is expected to grow from US$ 19,249.82 million in 2022 to US$ 55,733.74 million by 2030; it is estimated to record a CAGR of 14.2% during 2022-2030.

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Business support systems (BSS) help telecom service providers gain insights about their customers, which helps them provide real-time subscriptions and new revenue-generating services. 5G and digital BSS also allow CSPs to provide a flexible and centralized catalog to simplify product management, which triggers the demand for BSS solutions. Operation support systems (OSS) deliver end-to-end services and resource management solutions, which enables service agility and operational efficiency through automation. General public, individuals, and businesses are largely attracted to public cloud infrastructure as it provides service scalability, further easing the management workload for in-house IT staff. These factors, collectively, drive the growth of the public cloud segment. Hybrid cloud security mainly involves software-defined networking (SDN), virtualization, and application support across all layers of the service for multiple data centers and hardware devices. In addition, this model keeps sensitive and critical data off the public cloud, thereby reducing the potential exposure of data.

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Demand for cloud OSS BSS solutions has increased tremendously among large enterprises. The solutions help them monitor, analyze, configure, and manage all their operations related to telecom networks. Moreover, when using cloud OSS BSS solutions, SMEs do not need to employ highly technical personnel to maintain the IT infrastructure. The IT and telecom industry dominates the cloud OSS BSS market. The cloud OSS BSS solutions help these industries in initiating and retaining revenues, retaining customers, billing, portfolio and efficacy monitoring, and asset operationalizing. The BFSI sector regularly generates a large volume of financial data, and cloud OSS BSS solutions help analyze such data and financial information, in turn, simplifying the operations of financial institutions.

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The expansion of service offering by telecom operators and need to effectively manage these services result in the high demand for cloud OSS BSS solutions in this industry. The implementation of digital BSS and OSS enables CSPs to accelerate their use case monetization. A 5G-ready cloud OSS BSS solution lets operators monetize the data network with innovative and personalized offerings, enhancing subscribers' digital experiences and improving customer loyalty. Most notable competitors in the cloud OSS BSS market are operating in North America. A few of the major cloud OSS BSS solution and service providers present in the region include Amdocs Ltd, Oracle Corp, Hewlett Packard Enterprise Development LP, and CSG Systems International Inc. In addition, the region hosts a large number of startups.

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Key Findings of Study:

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The cloud OSS BSS market is segmented on the basis of solution, deployment model, enterprise size, industry, and geography. Based on solution, the cloud OSS BSS market is bifurcated into business support system (BSS) and operations support systems (OSS). The BSS segment is further classified into billing and revenue management, product management, customer management, and others. The OSS segment is subsegmented into network management and orchestration, resource management, analytics and assurance, and service design and fulfilment. Based on deployment model, the cloud OSS BSS market is divided into public cloud, private cloud, and hybrid cloud. Based on enterprise size, the cloud OSS BSS market is bifurcated into small and medium enterprises (SMEs), and large enterprises. Based on industry, the cloud OSS BSS market is segmented into IT and telecom, BFSI, media and entertainment, healthcare, and others. Based on geography, the cloud OSS BSS market is broadly segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). In 2021, North America accounted for a significant share of the market.

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The North America cloud OSS BSS market is segmented into the US and Canada. IoT and cloud-based training, education, and consulting services contribute significantly to the cloud OSS BSS market growth. These solutions help track the use of services subscribed by users and manage the services offered by numerous communication service providers (CSPs). Several technological, economical, and behavioral changes boost the adoption of IoT and cloud technology in North America. According to USENIX, an association supporting operating system research, more than 70% of households in North America have a network-connected device. The US holds more than half of the revenue share of the cloud OSS BSS market in North America, as the region has the most mature telecom market. On the other hand, the growing competition among communication service providers for increasing customer base and improving operational efficiency would provide opportunities for the cloud OSS BSS market growth in Canada.

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The key players operating in the cloud OSS BSS market include Amdocs Ltd, Oracle Corp, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Development LP, Huawei Technologies Co Ltd, Axino Solutions GmbH, CSG Systems International Inc, Nokia Corp, Infosys Ltd, and Softelnet SA.

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