The Digital Business Support System (BSS) Market size is projected to reach US$ 18.20 billion by 2031 from US$ 6.31 billion in 2023. The market is expected to register a CAGR of 14.2 % in 2023–2031. The increasing digital transformation is likely to remain a key Digital Business Support System (BSS) Market trend.
The market for digital business support systems is growing rapidly due to a number of factors, including the increasing adoption of tailored BSS solutions and new commercial models, the rise in reduced operational costs, the increase in online transactions, and the use of multiple mobile devices, the rising assumption of cloud-based BSS solutions, the rising digitization trend in the telecom industry, and the increasing adoption of digital business support systems from manufacturers in order to add value to the business by maximizing return on investment providing superior customer service, cutting costs, and speeding up the time to market for new products and services.
A digital business support system is a kind of platform or solution that offers commercial firms operational advantages and monitoring. Order-taking, payment-related inquiries, and client income management are all part of the business support system. In addition to offering numerous additional operation management tools, the system gives businesses marketing and company operation insights, which empowers them to make well-informed decisions about product launches and marketing expenditures.
Numerous data center enterprises have made significant investments in hyper-scale data centers, which are anticipated to yield profitable expansion prospects. Equinix revealed intentions to build about 32 hyper-scale data centers in a few significant European markets last year. Investing more than USD 6.9 billion and having a total capacity of over 600 megawatts, the company hopes to improve its standing in the rapidly developing hyper-scale data center market. The demand for the HCI market in the region will rise as a result of this expansion of the data centers in the area.
The growing adoption of cloud platforms by organizations, particularly in emerging nations, is anticipated to propel the growth of the Digital Business Support System market in Asia-Pacific. For example, the adoption of hybrid cloud workloads in India is expected to triple from 13 percent to 43%, according to the Nutanix Cloud Index. The corporation is focusing more on business expansion and new product development as a result of the increased use of digital technologies for consumer engagement. Thus, the increasing need for data accuracy and data management is anticipated to present new opportunities for the Digital Business Support System (BSS) Market players during the forecast period.
Key segments that contributed to the derivation of the Digital Business Support System (BSS) Market analysis are components.
The geographic scope of the Digital Business Support System (BSS) Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, North America accounted for the largest Digital Business Support System (BSS) Market share. Compared to other regions, North America is witnessing faster growth in the startup culture. The emergence of SMEs and the telecom industry's growing digitalization have contributed to the expansion of the digital BSS market in North America. The growing accessibility of cloud-based solutions is another factor propelling the region's adoption of digital BSS solutions. Compared to conventional on-premises solutions, cloud-based BSS solutions have a variety of benefits, such as lower upfront costs, greater security, and flexible scalability. These elements will likely contribute to North America's continued growth in the adoption of digital BSS solutions in the upcoming years.
The regional trends and factors influencing the Digital Business Support System (BSS) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Digital Business Support System (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 2023 | US$ 6.31 Billion |
| Market Size by 2031 | US$ 18.20 Billion |
| Global CAGR (2023 - 2031) | 14.2 % |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Digital Business Support System (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 Digital Business Support System (BSS) Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Digital Business Support System (BSS) Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
(Source: IBM, Press Release)
(Source: Ericsson, Press Release)
The “Digital Business Support System (BSS) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global Digital Business Support System (BSS) Market is expected to reach US$ 18.20 billion by 2031.
The key players holding majority shares in the global Digital Business Support System (BSS) Market are Optiva Inc., Nokia Corporation, Capgemini SE, ZTE Corporation, Openet, and Sigma Software.
The increasing digital transformation is anticipated to play a significant role in the global Digital Business Support System (BSS) Market in the coming years.
The data center companies are investing more in hyper-scale data centers and the increasing adoption of cloud platforms by organizations are the major factors that propel the global Digital Business Support System (BSS) market.
The global Digital Business Support System (BSS) Market was estimated to be US$ 6.31 billion in 2023 and is expected to grow at a CAGR of 14.2 % during the forecast period 2023 - 2031.