Global OSS BSS Market Grows at a Staggering CAGR of 13.95%

A telecom network's back-office operations are backed by the OSS and BSS solution and service, which also keeps up customer services. Operators commonly use information processing systems to manage their communications networks. These goods and services help companies plan how to interact with customers, resources, services, and operations. It aids operators in planning, building, and maintaining communications networks. Modern OSS and BSS may help organizations forecast market trends, improve customer happiness, increase operational effectiveness, and gain operational and market insights from big data. Market Dynamics Rise in Interest in Cloud OSS/BSS Drives the Global Market The increase in demand for cloud OSS/BSS due to the advantages such as flexibility, cost-effectiveness, and technology to aid company efficiency is the primary factor fueling the growth of the OSS and BSS market. The on-premise OSS and BSS solutions' high entry/exit barriers and other issues have led to a shift in modern communication service providers' preferences toward the cloud, which offers benefits like a quick time to market and flexibility in network delivery and management. Additionally, new and mobile virtual network operators are finding it much simpler to embrace cloud-based operations support system solutions (MVNO). Complexity by the Implementation of 5G and IoT in the Ecosystem of Communication Networks Creates Tremendous Opportunities The OSS/BSS systems are undergoing significant changes to use the benefits and potential of 5G technology. It has become urgently necessary to develop new OSS/BSS systems that are more intelligent, adaptable, precise, and responsive to clients' changing needs. Many OSS and BSS solution vendors are working with communication service providers to enhance OSS/BSS and employ emerging technologies to fulfill a variety of value-added use cases (CSPs). For instance, OSS can suggest upselling offers to end users based on A.I./ML-based data. The Mobile World Live (MWL) poll found that backend systems will need to undergo considerable changes due to the industries' quick transition to 5G installations. Regional Analysis  North America is the most significant revenue contributor and is anticipated to grow at a CAGR of 9.80% over the projection period. North America is comprised of the United States and Canada. This is so because the area's economy is robust and stable, enabling it to spend on R&D initiatives and encouraging the development and advancement of new technology. North America holds the largest market share since its various organizations are encouraged to employ operations support systems. The profusion of mobile network operators and telecom providers in North America primarily drives the need for OSS/BSS and platforms in this region. This demand is also commensurate with North America's overall growth of telecom and IT businesses. Europe is anticipated to exhibit a CAGR of 12.90% during the forecast period. This article examines the markets in the U.K., Germany, France, and the rest of Europe. Due to the surge in demand among telecom service providers for operational support services, several European businesses have been pushed to install operations support system solutions. The government's initiatives and those of several private businesses to develop the telecom sector are to blame for the expansion of the OSS and BSS market in this area. The rest of Europe includes Finland, Sweden, the Netherlands, Italy, and Spain. Due to the fast rise in demand for service fulfillment and service assurance solution types, the OSS and BSS market is growing in Europe. Key Highlights The global OSS BSS market was valued at USD 52.98 billion in 2022. It is projected to reach USD 171.61 billion by 2031, growing at a CAGR of 13.95% during the forecast period (2023-2031). Based on components, the global OSS BSS market is bifurcated into solutions and services. The solution segment is the major contributor to the market and is estimated to exhibit a CAGR of 12.50% during the forecast period. Based on the deployment model, the global OSS BSS market is bifurcated into on-premise and cloud. The on-premise segment is the major contributor to the market and is estimated to exhibit a CAGR of 12.20% during the forecast period. Based on OSS solution types, the global OSS BSS market is bifurcated into service delivery, service fulfillment, network planning and design, service assurance, customer and product management, billing and revenue management, network performance management, and others. The network planning and design segment is the major contributor to the market and is estimated to exhibit a CAGR of 8.35% during the forecast period. Based on enterprise size, the global OSS BSS market is bifurcated into small and medium-sized enterprises, and large enterprises. The large enterprise segment is the major contributor to the market and is estimated to exhibit a CAGR of 12.10% during the forecast period. Based on industry vertical, the global OSS BSS market is bifurcated into I.T. and Telecom Enterprises, BFSI, media and entertainment, retail and e-commerce, and others. The I.T. and Telecom Enterprises segment is the major contributor to the market and is estimated to exhibit a CAGR of 8.40% during the forecast period. North America is the major revenue contributor and is expected to exhibit a CAGR of 9.80% during the forecast period. Canada and the United States make up North America. Competitive Players The global OSS BSS market's major key players are AMDOCS, Infovista (ASCOM), Accenture, Comarch S.A., LM Ericsson Telephone Company, Mycom OSI, Nokia Corporation, Computaris, Netcracker, Capgemini, HPE, Huawei Corporation, and Sunvizion. Market News In November 2022, Amdocs, a top supplier of software and services to media and communications industries, declared that it would assist AT&T Mexico in moving its Amdocs database and application workloads to the public cloud. As part of this strategy, Amdocs Customer Experience Suite (CES) will move from AT&T Mexico's on-premise to the cloud. Enabling flexibility and capacity development will improve their readiness for future 5G initiatives and the busiest shopping season, ultimately improving the consumer experience. In November 2022, A multi-year digital transformation initiative at XL Axiata, one of Indonesia's top communications service providers, was successfully deployed, according to Amdocs, a prominent provider of software and services to communications and media firms. With the migration of more than 25 million XL subscribers, the company can quickly introduce new, cutting-edge digital services, offer convergent solutions, improve the customer experience, and meet its substantial scale and performance requirements. Global OSS BSS Market: Segmentation By Component Solution Services By Deployment Model On-Premise Cloud By OSS Solution Types Network Planning and Design Service Delivery Service Fulfillment Service Assurance Customer and Product Management Billing and Revenue Management Network Performance Management Others By Enterprise Size Small and Medium-Sized Enterprises Large Enterprises By Industry Vertical T. and Telecom Enterprises BFSI Media and Entertainment Retail and E-Commerce Others By Regions North America Europe Asia-Pacific LAMEA