OSS/BSS Software Market Trends 2029
Research Nester released a report titled “OSS/BSS Software Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global OSS/BSS software market in terms of market segmentation by solution, deployment, enterprise size, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The OSS/BSS software market is projected to grow with a high CAGR during the forecast period, i.e., 2021-2029 on account of the growing adoption of modern and agile OSS/BSS software from communication service providers to replace legacy system to drive operational efficiency and enhance overall customer experience.
The market is segmented by solution into service assurance, network management, inventory management, billing and revenue management, service fulfilment, customer and product management, and others. Among these, the billing and revenue management segment is anticipated to hold the largest share by the end of 2029 in the OSS/BSS software market as a result of increased adoption of convergent billing systems to address real-time customer needs and amplify revenues.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the OSS/BSS software market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the proliferation of mobile network operators and communication service providers, accompanied by the adoption of various strategies by telecom service providers to upgrade their existing OSS & BSS to develop new service capabilities and adapt to the changing market scenarios in the region.
Growing Adoption of Convergent Billing Systems to Drive Market Growth
The growing price complexity has in turn driven operators to deploy convergent billing systems with more capabilities for handling billing and charging complexities. Additionally, the benefits of integrating different service charges into a single customer invoice is also expected to boost the market growth in upcoming years.
However, reluctance to migrate from legacy systems and expensive implementation of technology are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the OSS/BSS software market which includes company profiling of Accenture (NYSE: ACN), Comarch SA (WSE: CMR), Amdocs (NASDAQ: DOX), Capgemini (EPA: CAP), Cisco Systems, Inc. (NASDAQ: CSCO), Hewlett Packard Enterprise Development LP (NYSE: HPQ), Netcracker (TYO: 6701), Nokia (HEL: NOKIA), Oracle (NYSE: ORCL), Huawei Technologies Co., Ltd, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global OSS/BSS software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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