The Asia Pacific & Global OSS/BSS Market, Region (North America, Europe, Asia Pacific, RoW) - Asia Pacific & Global Forecast to 2028, is expected to be valued at US$ 228.3 million by 2028, exhibiting a CAGR of 16.8% during the forecast period (2021-2028), as highlighted in a report published by Coherent Market Insights.
An operation support system (OSS) is a software component that allows a service provider to monitor, control, analyze, and manage the services on its network. OSS supports management functions such as service provisioning, network inventory, fault management, and network configuration. Moreover, business support systems (BSS) are components that a telecommunication service provider uses to run its business operations towards customers. BSS, combined with OSS, provides support for various end-to-end telecommunication services. Furthermore, BSS and OSS have their own data and service responsibilities.
The Asia Pacific & global OSS/BSS market is estimated to account for US$ 228.3 Mn in terms of value by the end of 2028.
Increasing demand for customer care is expected to boost the Asia Pacific & global OSS/BSS market growth over the forecast period
Currently, there is a massive shift from technological development to a more holistic customer-centric approach in the industry. For a CSP, retention of the existing customer base as well as attracting a large number of new users is of the utmost importance. Maintaining strong customer relationships is a critical factor for revenue generation. Complete access to billing details, along with the shortest time to market and turnaround time to users’ issues are essential in order to ensure customer loyalty. B/OSS plays a major role in assisting CSPs garner a large number of subscribers. It helps provide core services such as voice, data, and mobile commerce among others, along with ensuring the timely availability of these services in order to enhance user experience. Therefore, these factors are expected to drive growth of the Asia Pacific & global OSS/BSS market during the forecast period.
Low operational expenses can present major business opportunities in the Asia Pacific & global OSS/BSS market
Operation support systems and business support systems have low operational expenses. As a result of this, many end users are inclined towards OSS/BSS solutions. Moreover, it offers various other features such as lower infrastructure cost, improved scalability, faster deployments, and enhanced productivity. Major companies in the market can capitalize on these opportunities by providing novel solutions and gain a competitive edge in the market.
Rising complexity of network integration is expected to hinder the Asia Pacific & global OSS/BSS market growth over the forecast period
Over the years, network integration has become more and more complex. Integrating it with the existing system is significantly challenging. Furthermore, introduction of new services and discontinuation of existing services need to be implemented in parallel with OSS/BSS strategies. This may not be feasible for many players, since the transition to a new architecture is carried out with the aim of cost reduction. Hence, these factors are expected to hinder the Asia Pacific & global OSS/BSS market growth in the near future.
Among regions, North America is expected to witness significant growth in the Asia Pacific & global OSS/BSS market during the forecast period. This is owing to rising adoption of cloud-based OSS/BSS solutions across the region. Furthermore, the large presence of major market players such as Oracle Corporation and IBM Corporation is expected to boost the regional market growth in the near future.
Europe is expected to register a robust growth rate in the Asia Pacific & global OSS/BSS market over the forecast period. This is owing to high growth of the public cloud model across the region. Moreover, increasing demand for solutions related to service assurance, customer management, and revenue management is expected to accelerate growth of the regional market over the forecast period.
Asia Pacific & Global OSS/BSS Market - Impact of Coronavirus (Covid-19) Pandemic
Due to Covid-19 pandemic, many industries witnessed significant shift in their business. Internet service providers witnessed significant demand from the consumers as employees, students are forced to do their work and study online. According to Coherent Market Insights analysis in India demand of network services increased more than 60% in span of COVID 19. Although, lockdown in many countries is lifted, the trend of working from home is expected to stay over the forecast period.
Key players operating in the Asia Pacific & global OSS/BSS market are Amdocs, Accenture, IBM Corporation, Hewlett Packard Company, Oracle Corporation, Telefonaktiebolaget LM Ericsson, and Nokia Siemens Networks.
Major companies re focused on product launches, in order to enhance the market presence. For instance, in February 2020, Nokia Siemens Networks launched cloud-native network operation software with extreme automation for 5G.
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