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.
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).
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.
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.
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.