The cloud OSS BSS market size is projected to reach US$ 55.73 billion by 2030 from US$ 19.25 billion in 2022. The market is expected to register a CAGR of 14.2% during 2022–2030. Growing demand for next-gen 5G communication solutions is likely to remain a key trend in the market.
Cloud operational support system (OSS) and business support system (BSS) companies are investing significantly in the development of new and innovative solutions in response to the growing demand for these products. The vendors are adding different functionalities to their solutions to differentiate themselves from their competitors. In July 2021, Sterlite Technologies Ltd (STL) announced its plan to partner with Microsoft to provide cloud-native OSS/BSS solutions to telecom service providers. These solutions would help telcos build future-ready applications through its digital BSS platform. Under this partnership, STL will provide telcos access to flexible modular microservices, a cloud-native and comprehensive app development ecosystem, and a hybrid cloud management system. Such innovations in cloud OSS BSS solutions, supported by high investments by vendors to enhance their product portfolios to cater to the changing customer requirements, are driving the growth of the cloud OSS BSS market
Operations support systems and business support systems utilize cloud computing, automation tools, and analytics to streamline operations across the entire telecom organization, including operations and customer activities. Using OSS and BSS together, telcos can easily connect customers with reliable technology solutions.
Cloud OSS solutions help the communications industry address many business-related and technical challenges. Cloud OSS is used for multiple applications due to its heterogeneous technology and vendor landscape. These solutions offer an efficient and easy way for resource sharing, automation, and monitoring. Using cloud OSS solutions, CSPs simplify software upgrade procedures, thus reducing the cost considerably by ensuring near-zero downtime during the upgrade. Cloud OSS benefits Tier 1 CSPs by providing elasticity to handle burst traffic scenarios without any upfront investment. The cloud OSS solution also provides a faster time-to-market for new services as new capabilities can be easily scaled up or down on demand. Furthermore, cloud OSS solutions provide Tier 1 CSPs with big data solutions and analytics. Thus, the resultant rise in demand for cloud OSS solutions among these service providers boosts the cloud OSS BSS market.
Cloud technology is making a significant impact on the telecom industry as it reduces operational and administrative costs for telcos. It also enhances their communication and collaboration with content delivery networks. Additionally, cloud service providers help telecom firms focus on essential business services rather than IT, server updates, and maintenance issues. The cloud technology has increased the number of telecommunications providers worldwide. Cloud delivery model platforms provide IT and communication services across any network, such as fixed and mobile, with worldwide coverage. Any connected devices of end users, such as smartphones, PCs, and televisions, can also be used. Thus, the increasing adoption of cloud technology in the telecom industry is creating more opportunities for the market.
Key segments that contributed to the derivation of the cloud OSS BSS market analysis are Solution, deployment model, and enterprise size.
The geographic scope of the cloud OSS BSS market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominates the cloud OSS BSS market. The US holds more than half of the regional revenue share as it has the most mature telecom market. On the other hand, the growing competition among communication service providers for increasing customer base and improving operational efficiency would provide growth opportunities for the cloud OSS BSS market in Canada.
The regional trends and factors influencing the Cloud OSS BSS Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cloud OSS BSS Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 19.25 Billion |
| Market Size by 2030 | US$ 55.73 Billion |
| Global CAGR (2022 - 2030) | 14.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Solution
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Cloud OSS BSS Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Cloud OSS BSS Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The cloud OSS BSS market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the cloud OSS BSS market are listed below:
The “Cloud OSS BSS Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
Growing demand for next-gen 5g communication solutions is anticipated to play a significant role in the global cloud OSS BSS market in the coming years.
The expected CAGR of the global cloud OSS BSS market is 14.2%.
The global cloud OSS BSS market is expected to reach US$ 55.73 billion by 2030.
Growing demand for cloud OSS by Tier 1 communication service providers and the adoption of cloud technology in the telecom industry are the major factors that propel the global cloud OSS BSS market.
North America dominates the cloud OSS BSS market.
The key players holding majority shares in the global cloud OSS BSS market are Amdocs Ltd Oracle Corp, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Development LP, Huawei Technologies Co Ltd, Axino Solutions GmbH, CSG Systems International Inc, Nokia Corp, Infosys Ltd, and Softelnet SA.