OSS/BSS Market - Rising Demand for Converged Billing to Aid Implementation of OSS/BSS
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Growth of Telecommunications Industry, Smartphones Market Beneficial for OSS/BSS Market
The prime driver for the global OSS/BSS industry is the increasing demand for convergent billing/charging. Thanks to the diversification of the global telecommunications industry, communication service providers have begun to offer voice, data, multimedia, mobile commerce, and several other types of telecommunications services. The convenience of getting all the services from the same provider has driven the demand for convergent billing, as it is easier to monitor for both the consumer and the service provider.
Operations and business support systems allow telecom providers to come up with algorithms to try to cater to the needs of each consumer, based on their purchasing patterns. OSS/BSS also help providers prepare accurate statistics about their own revenue earnings, and provide improved customer care due to the easy availability of the integrated transaction data.
The diversification of the telecom industry and the consequent need for convergent billing arise from the rapid growth of the telecommunications industry in recent years. Increasing disposable incomes, easy availability of a plethora of telecom devices due to the proliferation of online as well as brick-and-mortar distribution outlets, and the innovation of low-cost and feature-packed smartphones have given the telecom industry a tremendous boost over the last decade. The Asia Pacific telecom industry, in particular, is showing no signs of slowing down, with the rampant urbanization in countries such as China and India illustrating the magnitude of the opportunity for OSS/BSS industry players in the coming years.
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