Newly-released Cloud OSS BSS Market analysis report by Future Market Insights shows that global sales of Cloud OSS BSS Market in 2021 were held at USD 24 Billion. With 8.4%, the projected market growth from 2022 to 2032 is expected to be slightly higher than the historical growth. Cloud OSS BSS solution is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 8.3% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Cloud OSS BSS Market CAGR (2022 to 2032) | 8.4% |
| Cloud OSS BSS Market Size (2022) | USD 26.7 Billion |
| Cloud OSS BSS Market Size (2032) | USD 60.0 Billion |
| USA Market CAGR (2022 to 2032) | 7.3% |
| Key Companies Covered | Amdocs Limited; IBM Corporation; Nokia Corporation; Oracle Corporation; Telefonaktiebolaget LM Ericsson; Hewlett Packard Enterprise Company; Cisco Systems, Inc; Capgemini SE; Huawei Technologies co., Ltd.; NET Cracker; Accenture Inc.; Infovista S.A.S. |
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As per the Global Cloud OSS BSS Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Cloud OSS BSS Market increased at around 11.2% CAGR. With an absolute dollar opportunity of USD 33.3 Billion, the market is projected to reach a valuation of USD 60 Billion by 2032.
Since on-premise systems have high entry and exit barriers, modern communication service providers prefer the cloud for its many benefits, including quick time to market, delivery agility, and network administration. Adopting cloud-based operations support system solutions is also becoming notably easier for new operators and mobile virtual network operators.
There are also a few obstacles for new operators to overcome. For example, BNET, a new independent service provider in Bahrain, stated in March 2020 that it will use Beyond's Infonova BSS solution as a software service built on AWS. This solution will fortify BNET's planned national fiber broadband network's business support systems, OSS and BSS.
As more suppliers concentrate their investments on accelerating digital transformation, demand for Cloud OSS BSS is increasing. For instance, in May 2021, EY and IBM announced the establishment of a Center of Excellence to aid financial institutions in accelerating their digital transformation through the use of hybrid cloud technologies. To assist clients in using the cloud at scale, the Center of Excellence is an integrated virtual center that provides services in digital trust, security, and regulatory compliance.
Communication service providers have been offering a range of services including multimedia, internet, mobile, commerce, data, video, and phone as a result of the increased emphasis on development in the telecommunications industry. Customers receive a comprehensive view of all of their postpaid and prepaid services via convergent billing, also known as a convergent charge. It is impossible to overestimate the significance of OSS BSS in the development of a convergent billing system. For operators, convergent pricing is becoming more and more crucial. In addition, convergent billion systems have a number of benefits, including improved client service, simplicity of use, and centralized customer support.
The telecommunications business provides a wide range of support services, such as networking, client profile management, and various billing management systems, all of which are tied to operating costs. CSPs may supply the entire IT infrastructure at a lesser cost owing to cloud computing, allowing them to improve overall operations. Using multiple resource tracking technologies, CSPs frequently struggle to keep track of OPEX. The rapid development of new technologies posed a challenge to telecom service providers in terms of reducing operational expenses. Many businesses have begun to use cloud-based OSS BSS platforms to manage complicated procedures more swiftly while substantially cutting operating costs. Cloud technologies enable CSPs to cut overall operational expenses while also providing simplified solutions.
Principal Consultant
The necessity to protect data privacy becomes more difficult when there are more telecom subscribers. Concerns about data and payment security in the telecom business are growing in tandem with the volume of data generated and online transactions completed. Customer financial information is required in order to access value-added services. Customers are worried about the security and privacy of their personal information, including their financial information. Complete data integrity must be maintained in order to protect transactions and personal information, which are important and confidential.
This necessitates a productive and manageable cloud infrastructure in order to maximize productivity and ensure a secure environment for CSPs and their clients. To safeguard the data of each customer, CSPs, and network managers adopt appropriate measures. Solutions for cloud-based OSS and BSS help CSPs improve their understanding of the consumer and acquire a single view of the customer across channels. However, when unethical elements overflow, privacy might occasionally be jeopardized. Due to these concerns, consumers are reluctant to provide personal information, which limits the growth of the cloud OSS BSS industry.
During the projection period, Cloud OSS BSS Market in North America is projected to dominate. According to a GSMA poll, almost 290 Million individuals in North America had internet access in 2019. The market for digital business support systems is expected to expand in the region, nevertheless, as a result of the growing need for increased operational effectiveness and the intense competition among CSPs. Businesses in these locations see value-added services as a fresh way to boost top-line earnings.
The Business Strategy Support industry's IoT-based platforms, services, and consulting services have enabled the industry to oversee, administer, and report on training, education consulting, and internet services provided to customers. Several technological, economic, and behavioral changes are underway that are primarily encouraging the development and adoption of IoT and cloud technology.
According to USENIX, an organization that provides technical support to operating systems, more than half of homes worldwide have an Internet connection, while over 70% of North American homes are networked. IoT devices have provided the example of numerous new suppliers and pricing structures. These improvements in organizational methods have made something else entirely take place.
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The USA is expected to account for the highest market of USD 18.8 Billion by the end of 2032. Also, the market in the country is projected to account for an absolute dollar growth of USD 9.5 Billion. The US Census Bureau and the Consumer Technology Association predicted in January 2022 that US smartphone sales will rise from USD 73 Billion in 2021 to USD 74.7 Billion in 2022. This is expected to increase significantly as IoT quickly penetrates a range of sectors and businesses.
This is anticipated to speed up the adoption and integration of managed services and promote market expansion. According to a poll published by Cloudward in 2022, Google Drive was the most popular cloud storage service, with a staggering 94.4% usage worldwide. The growing adoption of smart technology and rising security spending are two key factors affecting demand for the cloud OSS BSS market in the USA.
Market revenue through cloud OSS BSS Solutions is forecasted to grow at a CAGR of over 8.3% from 2022 to 2032. While maintaining customer service, the solution supports telecom network back-office operations. To maintain their communications networks, operators often use information processing systems. These products and services assist businesses in planning how to interact with consumers, resources, services, and processes. It aids operators in the development, construction, and upkeep of communication networks. Modern OSS and BSS may help organizations foresee market trends, improve customer satisfaction, increase operational performance, and obtain operational and market insights from big data.
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Cloud OSS BSS market are focused on alliances, technology collaborations, and product launch strategies.
Some of the recent developments of key Cloud OSS BSS providers are as follows:
Similarly, recent developments related to companies in Cloud OSS BSS Market have been tracked by the team at Future Market Insights, which are available in the full report.
The global Cloud OSS BSS Market is worth more than USD 26.7 Billion at present.
The value of Cloud OSS BSS Market is projected to increase at a CAGR of around 8.4% from 2022 to 2032.
The value of Cloud OSS BSS Market increased at a CAGR of around 11.2% from 2017 to 2021.
The global demand for Cloud OSS BSS is being spurred by a considerable increase in the use of Cloud-based Services.
The growth of the market for Cloud OSS BSS in the USA is projected to expand at a CAGR of around 7.3% from 2022 to 2032.
The growth of the market for Cloud OSS BSS in China is projected to expand at a CAGR of around 9.4% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 8.9%, the market in Japan is projected to register a CAGR of nearly 7.9% from 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 5.1. Solution 5.1.1. OSS 5.1.2. BSS 5.2. Services 5.2.1. Professional Services 5.2.2. Managed Services 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Cloud Type 6.1. Public Cloud 6.2. Private Cloud 6.3. Hybrid Cloud 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Operator Type 7.1. Mobile Operator 7.2. Fixed Operator 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Organization Size 8.1. Large Enterprises 8.2. SMEs 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Amdocs Limited 17.2. Telefonaktiebolaget LM Ericsson 17.3. Huawei Technologies Co., Ltd. 17.4. Hewlett Packard Enterprise Company 17.5. IBM Corporation 17.6. Netcracker 17.7. Nokia Corporation 17.8. Optiva, Inc. 17.9. Oracle Corporation 17.10. ZTE Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
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Cloud OSS BSS Market
