According to the report published by Allied Market Research, the global OSS and BSS market was estimated at $36.85 billion in 2019, and is expected to hit $102.14 billion by 2027, registering a CAGR of 13.7% from 2020 to 2027.
Surge in demand for cloud OSS/BSS, prioritized investments by CSPs in network upgrades over OSS/BSS transformations, exponential growth in data consumption due to COVID-19 pandemic, growing need for lower operational expenses and enhanced customer experiences, and launch of innovative solutions by major players to gain competitive advantage drive the global OSS and BSS market.
On the other hand, difficulties to integrate future OSS/BSS systems into existing ones restrain the growth to some extent. However, the rise in the adoption of Next-Generation Operations Support Systems (NGOSS) to improve traditional OSS is expected to create multiple opportunities in the industry.
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Impact of COVID-19 on OSS and BSS Market:
1. The outbreak of the pandemic led to huge implementation of work-from-home practice, distance learning, and videoconferencing across the world. This, in turn, has generated the need for steadfast broadband from consumers, thereby fueling the global OSS and BSS market to a significant extent.
2. Telecom operators are also seen to elevate their BSA/OSS solutions to cater to the growing demand from the customers.
The global OSS and BSS market is analyzed across component, OSS solution type, enterprise size, deployment model, industry vertical, and region. Based on component, the solution segment contributed to nearly three-fifths of the total market share in 2019 and is expected to lead the trail by 2027. Simultaneously, the services segment would manifest the fastest CAGR of 15.4% from 2020 to 2027.
Based on solution type, the network planning & design segment accounted for nearly one-fourth of the total market revenue in 2019 and is expected to dominate by the end of 2027. The customer & product management segment, on the other hand, would portray the fastest CAGR of 20.7% throughout the forecast period.
Based on geography, North America generated the major share in 2019, garnering around two-fifths of the global market. At the same time, the market across Asia-Pacific would exhibit the fastest CAGR of 19.3% from 2020 to 2027. The other two provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global OSS and BSS market report include ASCOM, Accenture, Cisco System Inc., Comarch S.A, AMDOCS, LM Ericsson Telephone Company, Nokia Corporation, Computaris, Mycom OSI, Netcracker, Capgemini, HPE, Huawei Corporation, and Sunvizion. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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