Continuous Product Innovations by Vendors Boost Demand for Cloud OSS BSS Market Growth
According to our latest study on "Cloud OSS BSS Market Forecast to 2030 – Global Analysis – by Solution, Deployment Model, Enterprise Size, and Industry," the cloud OSS BSS market is expected to grow from US$ 19,249.82 million in 2022 to US$ 55,733.74 million by 2030; it is expected to grow at a CAGR of 14.2% from 2022 to 2030.
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 of partnering with Microsoft to provide cloud-native OSS/BSS solutions to telecom service providers. These solutions would help telcos to build future-ready applications through their 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. Similarly, in July 2020, Whale Cloud Technology Co., Ltd. announced the launch of a cloud-based telecom solution suite—ZSmart Digital Business Enablement Platform (D-BEP)—in partnership with Alibaba Cloud. Through this platform, the companies would provide communication service providers (CSPs) with a complete ZSmart digital OSS, digital BSS, and data intelligence solution suite. The suit will help CSPs access subscription-based telecom solutions, assess digital maturity, and collaborate on a single platform with ecosystem partners. 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.
Cloud OSS BSS Market – by Region, 2021 and 2030 (%)
Cloud OSS BSS Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product Management, Customer Management, and Others)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, and Others), and Geography
Cloud OSS BSS Market Trends and Forecast by 2030
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Source: The Insight Partners
The telecom sector in North America is growing tremendously. North America has been the most advanced region in terms of technology adoption, mainly, due to the strong economic growth of a few countries in the region and investments by governments to encourage technological advancements. Also, North America is one of the most mature telecom markets, which can be due to excessive internet and mobile penetration in the region. According to the GSMA Intelligence report, in 2022, the adoption of 5G is booming in the region, and the technology is set to dominate the wireless services sector by 2025. Further, the 5G connections are expected to reach 280 million and account for 64% of all mobile connections in North America by 2025. Thus, the increasing demand for 5G connectivity is expected to boost the cloud OSS BSS market growth in this region in the coming years. In North America, the US holds more than 50% of the revenue share of the most mature telecom market. In Canada, the growing competition among communication service providers for expanding customer base and improving operational efficiency would provide growth opportunities for the cloud OSS BSS market players.
The cloud OSS BSS market is segmented on the basis of solution, deployment model, enterprise size, industry, and geography. Based on solution, the cloud OSS BSS market is bifurcated into business support system (BSS) and operations support systems (OSS). The cloud OSS BSS market for BSS is further segmented into billing and revenue management, product management, customer management, and others. The market for OSS is subsegmented into network management and orchestration, resource management, analytics and assurance, and service design and fulfillment. Based on deployment model, the cloud OSS BSS market is divided into public cloud, private cloud, and hybrid cloud. Based on enterprise size, the cloud OSS BSS market is bifurcated into small and medium enterprises (SMEs), and large enterprises. Based on industry, the cloud OSS BSS market is segmented into IT and telecom, BFSI, media and entertainment, healthcare, and others. Based on geography, the cloud OSS BSS market is broadly segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). In 2021, North America accounted for a significant share of the market.
The key players operating in the cloud OSS BSS market include 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.
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