Cloud OSS BSS Market Predicted to Reach $68.5 Billion by 2031 | CAGR of 11.3%

According to the report, the global cloud OSS BSS industry generated $24.0 billion in 2021, and is estimated to reach $68.5 billion by 2031, witnessing a CAGR of 11.3% from 2022 to 2031.

Cloud OSS BSS is service-oriented with a highly efficient system to facilitate resource distribution, automation, and tracking usage. Cloud OSS BSS often connects technologies such as 5G, Internet of Things (IoT), and a cognitive billing system to completely automate business processes.

Request Sample Report (Get Full Insights in PDF - 286 Pages) at: https://www.alliedmarketresearch.com/request-sample/A16788

For instance, cloud OSS BSS can handle all telecom business operations and through cloud-hosted networks instead of businesses manually handling them or storing them in a central database.

Rise in cloud adoption across various industry verticals and surge in 5G adoption drive the growth of the global cloud OSS BSS market. In addition, the demand for convergent billing systems supplements the growth. However, lack of technical proficiency to carry out the implementation of cloud-native OSS BSS solutions restrains the market growth. On the other hand, an increase in the implementation of cloud technologies to transform the telecom industry presents new opportunities in the coming years.

Covid-19 Scenario

1. Organizations adopted "work from home" or remote working culture due to lockdown restrictions imposed by governments of many countries. This led to adoption of cloud OSS BSS, which, in turn, raised investments and reliance on OSS BSS services and solutions.

2. In addition, the demand from various industry verticals such as IT & telecom, BFSI, retail, and others increased considerably to avail benefits of integrating different service charges into a single invoice. This consolidated the demand for convergent billing tools and cloud-native OSS BSS solutions.

Buy Now & Get Exclusive Report at: https://www.alliedmarketresearch.com/cloud-oss-bss-market/purchase-options

Based on component, the solution segment contributed to the highest market share in 2021, contributing to nearly three-fifths of the global cloud OSS BSS market, and is expected to maintain its leadership status during the forecast period. This is due to assistance to organizations in forecasting the conditions, calculating the output, managing market transactions, and ensuring compliance with regional, state, and national regulations.

However, the service segment is projected to witness the largest CAGR of 12.4% from 2022 to 2031, owing to the effective functioning of network services along with the management of customer services, business operations, and platforms throughout the process.

Based on industry vertical, the IT and Telecom segment held the highest market share in 2021, accounting for nearly three-fifths of the global cloud OSS BSS market, and is expected to maintain its lead position during the forecast period. This is due to the efficiency provided by OSS BSS in product management, business operations, revenue management, customer management, and IT in telecom services.

However, the retail and e-commerce segment is projected to manifest the fastest CAGR of 14.5% from 2022 to 2031. This is attributed to its ability to simplify the systems and deliver a personalized customer experience. Moreover, retail-as-a-service (RaaS) integrates various verticals such as inventory and order processing to enhance the capabilities of restocking.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/17162

Based on region, North America contributed to the highest market share in terms of revenue in 2021, accounting for around two-fifths of the global cloud OSS BSS industry, and is expected to maintain its dominance in terms of revenue by 2031. This is owing to rise in adoption of cloud OSS BSS solutions across end-user industries such as media & entertainment, retail, and financial sectors in the region. However, Asia-Pacific is projected to manifest the fastest CAGR of 13.5% during the forecast period. This is attributed to rise in demand for cloud OSS BSS solutions in the BFSI sector for enhancing customer experience and capitalize on new avenues of growth.

Leading Market Players

Amdocs Limited
Telefonaktiebolaget LM Ericsson
Huawei Technologies Co., Ltd.
Hewlett-Packard Enterprise Company
IBM Corporation
Netcracker
Nokia Corporation
Optiva, Inc.
Oracle Corporation
ZTE Corporation

Access the full Report Summary at: https://www.alliedmarketresearch.com/cloud-oss-bss-market-A16788

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.