|02-01-2017 12:28 PM CET - Advertising, Media Consulting, Marketing Research||
Global OSS-BSS Software Market: Increasing Espousal Of Convergent Billing Systems To Expand Opportunities
Press release from: MarketResearchReports.biz
The report titled “Global OSS-BSS Software Market 2016-2020” furnishes key information regarding the market drivers, restraints, growth opportunities, market trends, and segmentation. The global market for OSS-BSS software will gain momentum due to the prevalence of favorable market conditions worldwide. The global market for OSS-BSS software is projected to grow rapidly at a CAGR of 18.0% by the end of 2020.
Rising demand for customized OSS-BSS software is one of the key trends in the global market. Through customization, telecom service providers will be able to provide bundled services, which will enrich user experience. Furthermore, customized software is essential for conducting functions such as business intelligence (BI), customer relationship (CRM), revenue assurance, and convergent billing. Flexibility and capability of the OSS-BSS software to accommodate changes will create considerable prospects for growth over the coming years.
One of the key growth drivers of the OSS-BSS market is the increased prevalence of revenue management system (RMS), together with the rising usage of convergent billing systems. Convergent billing systems allow customers to predict the actual expenditure and consumption across a payment mode or service. One can observe growing demand to consolidate the individual systems, which will lead to an increased adoption of RMS. All these factors are sure to augment the demand for OSS-BSS software. On the other hand, it is believed that the problem of integration with legacy systems will prove to be a major challenge to the market.
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The global market for OSS-BSS software is segmented into OSS and BSS software, according to application. It is projected that BSS software will emerge as the leading segment by the end of 2020, with a promising CAGR of 21.0%. Geographical segmentation includes APAC, the Americas, and EMEA. The Americas are expected to lead the market for OSS-BSS software in terms of revenue generation and are projected to exceed US$25bn by the end of 2020. The market in the Americas will benefit from increasing investments in IT by the US government, aimed at improving transparency, security, and performance. North America is believed to hold the largest revenue share for service assurance solutions in the telecom sector due to large-scale execution.
Customer satisfaction has grown to be a key concern of market vendors, who are incessantly incorporating new innovations in their software. Competition between vendors will intensify because of the arrival of telecom network infrastructure providers. The major vendors studied in the report include Huawei, Aria Systems, Amdocs, Accenture, SAP, Ericsson, Redknee, Comptel, Netcracker, Cerillion, Subex, Oracle, Analytica Resources, Sigma Systems, Elitecore Technologies, Comarch, Hewlett-Packard, CSG International, Wipro, Hitachi Data Systems, Global Convergence Solutions, Intec Systems, and Xalted Information Systems.
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