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Oss & Bss Market Size to Hit US$ 142.9 Billion by 2032 | With a 9.8% CAGR

02-20-2024 01:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Oss & Bss Market Size to Hit US$ 142.9 Billion by 2032 | With a 9.8%

IMARC Group's report titled "OSS & BSS Market Report by Component (Solution, Services), Oss Solution Type (Network Planning and Design, Service Delivery, Service Fulfillment, Service Assurance, Billing and Revenue Management, Network Performance Management, Customer and Product Management, and Others), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Industry Vertical (IT and Telecom, BFSI, Media and Entertainment, Retail and E-Commerce, and Others), and Region 2024-2032". The global OSS & BSS market size reached US$ 59.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 142.9 Billion by 2032, exhibiting a growth rate (CAGR) of 9.8% during 2024-2032.

Grab a sample PDF of this report: https://www.imarcgroup.com/oss-bss-market/requestsample

Factors Affecting the Growth of the OSS and BSS Industry:

● Rising Demand for Cost-Effective Solutions:

The growing adoption of operation support system (OSS) and business support system (BSS) due to the rising demand for cost-effective solutions in a company is offering a positive market outlook. In line with this, companies are constantly seeking ways to reduce operational expenses while maintaining or improving their services. Moreover, OSS eliminates the need for expensive licensing fees and reduces the total cost of ownership, which is bolstering the market growth. Besides this, BSS systems optimize billing and revenue management, minimize revenue leakage, and maximize profitability.

● Rapid Digitalization:

The rising employment of OSS and BSS due to rapid digitalization across the globe is contributing to the growth of the market. In addition, OSS and BSS solutions assist in streamlining operations and enhancing the experiences of individuals, which is impelling the market growth. Companies are adopting OSS solutions to modernize their technology infrastructure. This not only reduces operational costs but also facilitates quicker response to market changes. Furthermore, BSS solutions enable organizations to optimize interactions among people, making them more personalized and efficient.

● Thriving Telecommunication Sector:

The rising utilization of OSS and BSS systems in the telecommunication industry is propelling the growth of the market. In addition, telecommunications operators are facing several challenges due to the rising utilization of mobile devices, increasing data consumption, and the introduction of fifth generation (5G) networks. Apart from this, OSS solutions are crucial in managing and optimizing network resources while ensuring efficient service delivery and minimizing downtime. Furthermore, BSS systems play a vital role in billing accuracy and enhancing the satisfaction of people, which is impelling the market growth.

Leading Companies Operating in the Global OSS and BSS Industry:

● 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.
● Telefonaktiebolaget LM Ericsson

Explore full report with table of contents: https://www.imarcgroup.com/oss-bss-market

OSS and BSS Market Report Segmentation:

By Component:

● Solution
● Services

Solution represented the largest segment as it enables companies to manage their operations and networks efficiently.     

By OSS Solution Type:

● Network Planning and Design
● Service Delivery
● Service Fulfillment
● Service Assurance
● Billing and Revenue Management
● Network Performance Management
● Customer and Product Management
● Others

Network planning and design accounted for the largest market share due to the rising focus on enhancing network reliability and scalability.

By Deployment Mode:

● On-premises
● Cloud-based

On-premises exhibit a clear dominance in the market as they offer complete control and customization and allow organizations to manage and secure their data locally.        

By Organization Size:

● Small and Medium-sized Enterprises
● Large Enterprises

Large enterprises hold the biggest market share due to the increasing need for customized solutions that can handle high data volumes and support multi-channel interactions.       

By Industry Vertical:

● IT and Telecom
● BFSI
● Media and Entertainment
● Retail and E-Commerce
● Others

IT and telecom dominate the market share as they require enhanced network management solutions.     

Regional Insights:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

North America enjoys the leading position in the OSS and BSS market on account of the rising adoption of fifth generation (5G) technology.        

Global OSS and BSS Market Trends:

The integration of artificial intelligence (AI) and machine learning (ML) in OSS and BSS solutions assists in automating processes, detecting anomalies, and providing predictive analytics, which is bolstering the market growth. It also enables proactive network management and enhances the experiences of people by providing personalized services.  

Furthermore, the growing employment of OSS and BSS due to rising concerns about data privacy and security is offering a positive market outlook. In addition, these solutions ensure compliance with regulations, safeguard sensitive data, and maintain trust among people.

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Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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