MarketersMEDIA / Newsroom / New Research Study: OSS/BSS Market Scenario | Size, Share, Report | Forecasts (2018-2024)

New Research Study: OSS/BSS Market Scenario | Size, Share, Report | Forecasts (2018-2024)

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The OSS/BSS market in Europe is projected to grow at a CAGR of over 8% from 2018 to 2024. The market growth is attributed to investments by the government and several private companies for the development of the telecom sector.

— In line with the implementation of 5G networks across the telecom sector, players in the OSS/BSS market have been observing lucrative business opportunities. In fact, some telecom industries have been looking forward to strengthening their networking portfolio by automating working processes with regards to the use of 5G networks. For instance, recently, the Swedish multinational and telecommunication company, Ericsson acquired CENX to enhance its Operations Support Systems facilities. The acquisition will improve Ericsson’s service assurance and closed-loop automation capabilities which will help it to leverage network visualization and automate the telecom network to serve enterprise customers effectively. The surging use of 5G networks with the assistance of OSS for improving the connectivity in service assurance, resource-inventory management, order management, product management, customer management, network management, and revenue management will strongly fuel the OSS/BSS market size.

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Over the last few years, the increasing popularity of blockchain for decentralizing Network-as-a-Service (NaaS) for securing web wallets and wallet servers has also contributed toward the expansion of OSS/BSS industry. Leading technology companies have been deploying public blockchains to monetize their network resources that allow companies to analyze their operational and financial data. Considering the capability of OSS/BSS systems to secure financial data, BSFI companies have been shifting their focus toward the automation and digitization of financial processes, consequently demanding OSS/BSS technologies on a large scale. Powered by the surging adoption of modernized network security services, OSS/BSS market size from the BFSI sector will grow at an annual growth rate of more than 11% over 2018-2024.

With the increasing availability of innovative business communication facilities, several enterprises have been enhancing their existing network infrastructure that will have a positive influence on the OSS/BSS market share. End-use industries have also been giving importance to higher operational efficiency for enhancing their customer base which has helped impel the revenue graph of OSS BSS industry.

The OSS/BSS market in Europe is projected to grow at a CAGR of over 8% from 2018 to 2024. The market growth is attributed to investments by the government and several private companies for the development of the telecom sector. For instance, in July 2017, the German government granted approximately USD 1 billion worth of subsidies for high-speed and fiber-based telecom networks, accelerating the digital transformation in the country. The telecom companies in the region are also taking many efforts for the commercialization of the 5G technology, thereby increasing the demand for updated OSS/BSS systems for delivering an enhanced user experience to its customers. As the 5G networks will bring broadband equivalent network speeds over the mobile network, the operators must replace their legacy OSS/BSS systems to enable cross business cooperation, accelerate the service delivery, and improve the ability to handle the complex systems.

Browse key industry insights spread across 210 pages with 356 market data tables & 28 figures & charts from the report, OSS/BSS Market in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/oss-bss-market

The Asia Pacific OSS/BSS market is projected to register an accelerated growth at a CAGR of over 10% during the forecast period. With the growing popularity of smartphones, there has been an increase in the consumption of the mobile broadband services resulting in new OSS/BSS requirements. The complexity of network technologies has compelled the telecom operators to adopt new-generation OSS/BSS systems to ensure uninterrupted network services. As the CSPs face challenges related to costs, the OSS/BSS platforms help them to lower their network related cost by outsourcing BSS activities to managed service providers.

The growing concern among the businesses about the use of next-generation operations and business support systems to reduce the operational complexity and to obtain cost-effective returns is likely to stimulate the OSS BSS industry share. The surging use of OSS for monitoring, managing, analyzing, controlling the network and the use of BSS for supporting customer-facing activities is slated to propel the product demand. For the record, by the end of 2024, OSS/BSS market will generate a revenue of more than USD 50 billion.

Glimpse of Table of Content (ToC)

Chapter 3. OSS/BSS Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013-2024
3.4. OSS/BSS ecosystem analysis
3.4.1. Network hardware component providers
3.4.2. OSS/BSS software providers
3.4.3. Communication service providers
3.4.4. Cloud service providers
3.4.5. System integrators
3.4.6. Managed service providers
3.4.7. End users
3.5. Evolution of OSS/BSS technology
3.6. Benefits of OSS/BSS
3.7. OSS/BSS architecture
3.8. Technology & innovation landscape
3.8.1. Big Data analytics
3.8.2. 5G commercialization
3.8.3. Next-generation OSS/BSS
3.9. Regulatory landscape
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Surge in demand for service assurance
3.10.1.2. Growing need for lowering operational expenses (OPEX)
3.10.1.3. Growing adoption of convergent billing systems
3.10.1.4. Increasing trend of outsourcing OSS/BSS services
3.10.1.5. Growing adoption of cloud platforms among CSPs
3.10.2. Industry Pitfalls and Challenges
3.10.2.1. Reluctance to migrate from legacy systems
3.10.2.2. Availability of open-source platforms
3.11. Porter’s Analysis
3.11.1. Threat of new entrants
3.11.2. Threat of substitutes
3.11.3. Bargaining power of buyer
3.11.4. Bargaining power of supplier
3.11.5. Industry rivalry
3.12. PESTEL analysis
3.13. Growth potential analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/oss-bss-market

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Source URL: https://marketersmedia.com/new-research-study-ossbss-market-scenario-size-share-report-forecasts-2018-2024/88928414

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