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Soaring Demand Set to Propel Digital Business Support Systems (BSS) Market to $15.45 Billion by 2029
Digital Business Support Systems (BSS) Market
Digital Business Support Systems (BSS) Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, there has been a swift expansion in the digital business support systems (bss) market size. It is projected to increase from a size of $6.99 billion in 2024 to reach $8.25 billion in 2025, showcasing a compound annual growth rate (CAGR) of 18.1%. Factors such as the burgeoning telecommunications sector, the emergence of e-commerce, the increasing threat of cyber-attacks, an upsurge in worldwide internet access, and the widespread use of smartphones and mobile devices have contributed to the growth witnessed during the historic period.
Digital Business Support Systems (BSS) Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the size of the digital business support systems (bss) market is predicted to witness significant expansion, hitting a projected $15.45 billion by 2029 with an impressive compound annual growth rate (CAGR) of 17.0%. This forecasted growth can be traced back to factors such as the escalating demand for tailor-made client interactions, the surge in digital banking usage, the increase in online financial services, the soaring demand for advanced billing, and the growing need for customer management. Key trends throughout this forecast period are expected to be digital technologies, the integration of 5G technology, the utilization of artificial intelligence (AI) and machine learning technologies, the Internet of Things (IoT) ecosystem, and blockchain technology.
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What Are the Drivers Transforming the Digital Business Support Systems (BSS) Market?
The surge in the use of cloud computing is anticipated to stimulate the expansion of the digital business support system (BSS) market. Cloud computing pertains to the on-demand provision of computing amenities such as storage and infrastructure via the internet as services. The factors motivating this adoption include cost effectiveness, scalability, flexibility, accessibility, innovation, and agility. Fundamental to cloud computing platforms, digital business support systems manage customer relationships, facilitate service delivery, assure precise billing, offer customer support, and enable business analysis. Specific to this, the European Commission reported in December 2023, that the portion of EU businesses acquiring cloud computing services increased by 4.2 percentage points between 2021 and 2023. This rise in cloud computing usage is thereby steering the growth of the digital BSS market.
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What Long-Term Trends Will Define the Future of the Digital Business Support Systems (BSS) Market?
Leading firms in the digital business support system (BSS) market are intent on producing pioneering technology solutions, which include SaaS-based products, in order to improve their services and meet the progressive requirements of the telecommunication sector. Cloud-based platforms that deliver all-inclusive and adaptable solutions for conducting both the operational and customer-focused elements of telecom and digital service providers are referred to as Software as a Service (SaaS)-based BSS. For example, Optiva Inc., a Canada-based company that offers cloud-native billing, charging, and revenue management software, introduced Optiva MVNO Hubs on Google Cloud in September 2023. This provides a thorough business support system (BSS) as a service solution for mobile virtual network operators (MVNOs). The hubs for MVNOs consist of important integrations, such as payment gateway, tax services, customer service, customer relationship management ticketing, and dealership portals, which facilitate speedy onboarding and control of dealership channels. Moreover, this cloud aims to enable nascent MVNOs to promptly introduce customized services for extensive consumer and business customers, while emphasizing speedy revenue generation and offering expert advice and support in telecom throughout the MVNO lifecycle.
Which Segments in the Digital Business Support Systems (BSS) Market Offer the Most Profit Potential?
The digital business support systems (bss)market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Enterprise Size: Small And Medium Sized Enterprises, Large Enterprises
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Information Technology Enabled Services (ITES), Telecommunications, Retail And E-commerce, Media And Entertainment, Manufacturing, Energy And Utilities, Other Verticals
Subsegments:
1) By Solution: Billing And Charging Solutions, Customer Management Solutions, Order Management Solutions, Revenue Management Solutions, Provisioning Solutions, Fraud Management Solutions, Business Analytics And Reporting Solutions, Payment Solutions, Service Assurance Solutions, Catalog Management Solutions
2) By Services: Consulting Services, Integration And Implementation Services, Managed Services, Support And Maintenance Services, Training And Education Services
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Which Firms Dominate the Digital Business Support Systems (BSS) Market by Market Share and Revenue in 2025?
Major companies operating in the digital business support systems (BSS) market are Huawei Technologies Co. Ltd., accenture* plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson, Nokia Corporation, Capgemini SE, ZTE Corporation, Infosys Limited, VMware LLC, NetApp Inc., Amdocs Limited, Netcracker Technology Corporation, CSG Systems International Inc., BearingPoint//Beyond, Sterlite Technologies Ltd., Comviva Technologies Limited, Comarch SA, Hansen Technologies Corp, Tecnotree Corporation, MDS Global, Optiva Inc., Subex Limited, Cerillion Technologies, MIND CTI Ltd., Qvantel, MATRIXX Software Inc., Suntech S.A.
Which Regions Offer the Highest Growth Potential in the Digital Business Support Systems (BSS) Market?
North America was the largest region in the digital business support system (BSS) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital business support systems (BSS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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