Cloud OSS BSS Market Trends, Opportunities, Future Growth, Business Scenario, Share, Size, Scope, Key Segments and Forecast to 2027

Cloud OSS BSS Market by Component ((Solutions and Services), Solution (OSS and BSS), Service (Professional and Managed Services)), Cloud Type (Public, Private, and Hybrid), Operator Type, Organization Size and Region - Global Forecast to 2027.
MarketsandMarkets forecasts the Cloud OSS BSS [https://www.marketsandmarkets.com/Market-Reports/cloud-oss-bss-market-31137795.html?utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral] Market size to grow from USD 20.1 billion in 2022 to USD 36.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. The demand for improving network infrastructure to support various technologies is driving the growth cloud OSS BSS solutions. Increasing technological and 5G adoption is paving the way for cloud OSS BSS market.

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By component, the services segment to have a higher growth during the forecast period

The cloud OSS BSS services segment is expected to have a higher growth rate during the forecast period. The cloud OSS BSS market, by service, is segmented into professional services and managed services. The need for consulting expertise to guide the enterprises to deploy the right solutions to improve operational efficiency will drive the demand for professional services. Managed services, focused on critical business issues, current requirements, and future growth opportunities, are majorly implemented by the telecom industry to enhance their service and business efficiency. This is expected to propel the demand for best-in-class services in this market.

By BSS solution, the billing and revenue management segment to account for the highest market share during the forecast period

In BSS solution, the billing and revenue management segment is expected to have the highest market share during the forecast period. Billing and revenue management solutions are designed to handle the accounting challenges of telecom companies with complex revenue streams and billing requirements. The main drivers for the growth of billing and revenue management solutions includes, the need to assist telecom operators in handling all bill-related processes across various lines of business and fulfill the need for highly efficient ecosystems and deliver a range of capabilities. Also, the need for CSPs to offer digitalized services to attract new customers and increase customer retention will drive the demand for billing and revenue management solutions in the market.

North America region to account for highest market share in cloud OSS BSS market

North America is one of the prominent regions in the cloud OSS/BSS market. Some top companies, such as Oracle, IBM, Amdocs, and HPE, are headquartered in the region. North America can further be considered one of the leading regions in the adoption of 5G and IoT technologies. CSPs in the region are enhancing their networking infrastructure to meet the increasing demand for 5G services in the future. Cloud OSS BSS is expected to play a key role in the development of new networking infrastructure. The deployment of a 5G network in the region is expected to boost the demand for cloud OSS/BSS solutions in the region. The key drivers such as increased focus on the rapid adoption of 5G and other technologies by vendors in North America would drive the growth of the cloud OSS BSS market. Also, tough competition among telecom players in the US to provide quality services has also contributed to the demand for cloud OSS BSS solutions and services in the region.

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Unique Features in the Cloud OSS BSS Market

Scalability is one of the best things about Cloud OSS/BSS solutions. These solutions make it simple for organizations to adapt their operations dynamically by scaling up or down in response to demand. For telecom operators who have to swiftly launch new services and deal with varying workloads, this flexibility is essential.

Solutions for cloud-based OSS/BSS dramatically lower operating and capital expenses (OPEX and CAPEX, respectively). Businesses can avoid the high maintenance expenses of on-premises gear and software by utilizing cloud infrastructure. Better resource allocation and financial management are made possible by this pay-as-you-go strategy.

Platforms for cloud OSS/BSS allow for the quick deployment of new features and services. For telecom operators to remain competitive, they must be nimble enough to react swiftly to changes in the market and in technology.

The goal of contemporary Cloud OSS/BSS solutions is to improve client satisfaction. They give suppliers with AI-driven insights and sophisticated analytics to better understand consumer behavior and preferences. Improved client interaction, proactive problem solving, and individualized service offers are all made possible by this insight.

Platforms for cloud OSS/BSS are designed to easily interface with a wide range of other technologies and systems, such as network management systems, CRM, and ERP. Through the elimination of silos and enhancement of general business procedures, interoperability guarantees a unified and effective operating environment.

Major Highlights of the Cloud OSS BSS Market

The telecom industry's requirement for scalable, adaptable, and affordable solutions is fueling the market expansion for Cloud OSS (Operations Support Systems) and BSS (Business Support Systems). Robust cloud-based OSS/BSS solutions are becoming more and more necessary to manage operations and business processes effectively as telecommunications companies grow their offerings and clientele.

One of the main advantages of the Cloud OSS/BSS market is that these solutions are naturally flexible and scalable. Cloud-based OSS/BSS platforms, in contrast to traditional on-premises systems, are easily scaleable up or down based on demand, allowing telecom operators to quickly respond to shifting market conditions and customer requirements without having to pay hefty infrastructure expenses.

Because cloud OSS/BSS solutions eliminate the need for considerable upfront hardware and software investments, they result in significant cost reductions. Telecom operators can optimize their operational expenditure by paying for just the resources they utilize thanks to cloud services' pay-as-you-go approach.

Telecom operators need the agility that cloud-based OSS/BSS solutions offer if they want to remain competitive. These platforms facilitate the quick rollout of new products and services, cutting down on time-to-market and enabling providers to react swiftly to changing consumer expectations and technology breakthroughs.

Telecom operators place a high priority on improving the customer experience, and cloud OSS/BSS solutions are essential to reaching this objective. These platforms enable suppliers to comprehend client behavior and preferences, enabling individualized service offers, by providing advanced analytics and AI-driven insights.

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Top Companies in the Cloud OSS BSS Market

Few globally established players such as Amdocs (US), Ericsson (Sweden), Netcracker (US), Huawei (China), HPE (US), and Oracle (US) are dominating the cloud OSS BSS market. In this market various strategies such as enhancements; partnerships, expansions, new product launches, collaboration, agreements, and acquisitions; and other growth strategies adopted by the top key players.

Amdocs launched a 5G native CES 21, which is the latest version of its cloud-based OSS-BSS integrated suite. It enables service providers to build, deliver, and monetize advanced services, leveraging their investments in technologies, such as 5G standalone network, Multi-access Edge Computing (MEC), SDN, AI and ML, and the cloud. Samsung and Amdocs collaborated to accelerate the delivery of 5G and 4G network solution. Amdocs entered into an agreement with Hungary's Magyar Telekom to modernize and digitalized its business support system. The company has acquired Sourced Group to strengthen its capability and bring the communication industry to cloud. Amdocs and Google Cloud announced a strategic partnership to deliver Amdocs' leading OSS and BSS systems on Google Cloud and create solutions and services to help communications companies modernize, automate, and digitize with the cloud.

Ericsson is a distinguished global player, providing multinational networking and telecommunications equipment. It operates through four business segments: networks, digital services, managed services, emerging businesses, and others. Together with Telefonica, and Samsung, developed a solution for 5G interactive calling, based on IMS data channel standard and vEricsson Cloud IMS network. Ericsson has entered into partnership with MTS and Ericsson entered into a partnership to expand 5G-ready networks in Russia. The key focus of the company is to support Industry 4.0. the company has also partnered with AWS to move Ericsson's BSS digital portfolio to public cloud. It will modernize the services and improve the customer experience.

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