Press release
OSS & BSS Market Size to Surpass USD 142.9 Billion by 2032, at a CAGR of 9.8%
Global OSS & BSS Industry: Key Statistics and Insights in 2024-2032
Summary:
* The global oss & bss market size reached USD 59.9 Billion [https://www.imarcgroup.com/oss-bss-market] in 2023.
* The market is expected to reach USD 142.9 Billion by 2032, exhibiting a growth rate (CAGR) of 9.8% during 2024-2032.
* North America leads the market, accounting for the largest OSS & BSS market share.
* AI and automation technologies enable OSS and BSS systems to automate routine tasks, reducing manual efforts, accelerating processes, and improving operational efficiency.
* IoT devices generate massive amounts of data that require processing and analysis in real time.
* OSS and BSS systems incorporate advanced analytics and data processing capabilities to derive insights from IoT data.
* These insights are crucial for optimizing network performance, predicting maintenance needs, and enabling new service offerings.
* The integration of AI, automation, and IoT technologies in OSS and BSS systems is driving their evolution and enhancing their capabilities in today's digital landscape.
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Industry Trends and Drivers:
* Increasing Digital Transformation:
Digital transformation initiatives often involve upgrading legacy systems to more agile, scalable, and integrated OSS and BSS solutions. Modern OSS and BSS systems can handle the complexities of digital services, cloud computing, and virtualization that are central to digital transformation strategies. Moreover, digital transformation aims to improve people experience through personalized services, seamless interactions, and quicker service delivery. OSS and BSS systems play a crucial role in enabling this by providing real-time data insights, automated processes, and efficient customer service management.
* Rising Adoption of Cloud Computing:
Cloud computing offers scalable resources that can be dynamically allocated based on demand. OSS and BSS systems deployed in the cloud can easily scale to handle increasing data volumes, new services, and user growth without the need for significant infrastructure investments. Furthermore, cloud computing enables rapid deployment and provisioning of OSS and BSS solutions. This agility allows telecom operators and other businesses to launch new services, update existing offerings, and respond to market changes more quickly, thereby accelerating time-to-market.
* Deployment of 5G Networks:
5G networks introduce significantly higher complexity compared to previous generations due to their use of diverse technologies like millimeter wave spectrum, massive multiple input multiple output (MIMO), and network slicing. OSS and BSS systems are crucial for managing and orchestrating these complex network elements efficiently. In addition, 5G enables a wide range of new services and applications, such as enhanced mobile broadband (eMBB), ultra-reliable low-latency communications (URLLC), and massive machine-type communications (mMTC). OSS and BSS systems play a vital role in service orchestration, ensuring seamless delivery and management of these services across the network.
Buy Now Report: https://www.imarcgroup.com/checkout?id=5994&method=502
OSS & BSS Market Report Segmentation:
By Component:
* Solution
* Services
Solution represents the largest segment due to its critical role in enabling telecommunications and service providers to manage their operations effectively.
By OSS & BSS 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 accounts for the majority of the market share as it plays a critical role in ensuring efficient and effective telecommunications operations.
By Deployment Mode:
* On-premises
* Cloud-based
On-premises hold the biggest market share owing to their greater customization and integration capabilities compared to cloud-based alternatives.
By Organization Size:
* Small and Medium-sized Enterprises
* Large Enterprises
Large enterprises exhibit a clear dominance in the market, driven by their complexity of operations, need for customization, and financial capacity.
By Industry Vertical:
* IT and Telecom
* BFSI
* Media and Entertainment
* Retail and E-Commerce
* Others
IT and telecom hold the largest market share, which can be attributed to its expansive scope and critical role in managing telecommunications services.
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 & BSS market on account of stringent regulatory requirements and a competitive market landscape.
Top OSS & BSS Market Leaders:
The OSS & BSS market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
* 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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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Company Name: IMARC Group
Contact Person: Elena Anderson
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