NEW YORK, June 26, 2024 /PRNewswire/ -- The global operations support business support (OSS BSS) software market size is estimated to grow by USD 70.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 15.2% during the forecast period. Growing adoption of cloud-based BSS (business support) is driving market growth, with a trend towards growing number of pre-commercial 5G trials. However, lack of in-house expertise poses a challenge. Key market players include Accenture Plc, Amdocs Ltd., Aria Systems Inc., Cerillion Plc, CHR Solutions, Comarch SA, Hansen Technologies Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., NEC Corp., New Era Technological Support S A, Nokia Corp., Optiva Inc., Oracle Corp., SAP SE, Saskatchewan Telecommunications Holding Corp., SUBEX Ltd., Telefonaktiebolaget LM Ericsson, and Tridens doo.

Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report

Key Market Trends Fueling Growth

The global OSS BSS software market is experiencing growth due to the rising number of 5G trials. Telecom companies and equipment manufacturers are collaborating for these trials, leading to an increase in 5G installations. Effective order and fraud management, revenue management, and CRM are crucial for telecom service providers during network provisioning. Anritsu, Keysight Technologies, National Instruments, Rohde and Schwarz, Astronics, Spirent, and Tektronix are key vendors providing testing solutions for 5G components. The demand for OSS BSS software is expected to continue growing as 5G networks expand during the forecast period. 

The Operations Support and Business Support (OSS/BSS) software market is experiencing significant growth, driven by the increasing need for efficient and effective IT infrastructure management. Key trends include the integration of artificial intelligence and machine learning for predictive maintenance, the adoption of cloud-based solutions for flexibility and scalability, and the prioritization of security and privacy. Additionally, the use of APIs and microservices for integration and the implementation of DevOps practices for faster deployment and innovation are becoming increasingly common. The market is also seeing the rise of vendor consolidation and partnerships to offer comprehensive solutions. Overall, the OSS/BSS software market is evolving to meet the demands of digital transformation and the need for agile, responsive IT environments. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

• The cloud billing services market for telecom operations support software (OSS/BSS) aims to simplify invoice generation. However, the integration of various telecom services and advanced features necessitates a skilled workforce. Training costs for this workforce escalate due to frequent upgrades and technological advancements, posing a significant challenge to market growth during the forecast period.
• The Operations Support and Business Support (OSS/BSS) software market faces several challenges. Customers require solutions that can handle large volumes of data from various sources, such as customer interaction channels and network devices. Integration of these data sources is essential for effective problem identification and resolution. Additionally, ensuring security and compliance with data regulations is a significant challenge. Furthermore, the need for real-time analytics and automation of routine tasks is increasing. Providing flexible and scalable solutions that can adapt to changing business requirements is also crucial. Lastly, ensuring user-friendly interfaces and seamless integration with other business systems is necessary for successful implementation and adoption.

For more insights on driver and challenges - Download a Sample Report

Segment Overview 

This operations support business support (oss bss) software market report extensively covers market segmentation by

1. Product 
   • 1.1 OSS
   • 1.2 BSS
2. Deployment 
   • 2.1 Cloud-based
   • 2.2 On-premises
3. Geography 
   • 3.1 North America
   • 3.2 Europe
   • 3.3 APAC
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 OSS- The Operations Support Business Support (OSS/BSS) software market plays a crucial role in enhancing business efficiency. These solutions facilitate seamless communication between departments, automate routine tasks, and provide valuable insights through data analysis. By streamlining operations and improving collaboration, OSS/BSS software contributes significantly to overall productivity and profitability. Companies across industries invest in these tools to gain a competitive edge and meet evolving customer demands.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report

Research Analysis

The Operations Support Business Support (OSS/BSS) software market encompasses solutions designed to optimize IT infrastructure in the telecommunications industry. These systems facilitate network inventory management, fault management, service provisioning, configuration, and service assurance. OSS/BSS software enables efficient network planning, including mobile networks, and supports service fulfillment and product management. Additionally, AI/ML technologies are increasingly integrated into these systems to enhance network management and improve service assurance. CAPEX and OPEX considerations are crucial in the selection of OSS/BSS components. Digital transformation initiatives in the telecommunications sector continue to drive demand for advanced OSS/BSS solutions, accommodating the proliferation of mobile devices and high-speed internet services. Monetization strategies are also a key focus, ensuring effective service provisioning and component utilization.

Learn and explore more about Technavio's in-depth research reports

The mindfulness meditation application market is experiencing rapid growth as more individuals seek mental wellness through digital platforms. These apps offer guided sessions, breathing exercises, and relaxation techniques to promote mindfulness. Concurrently, the audio and video editing software market is booming, driven by the rise of content creators and demand for high-quality multimedia production. Advanced editing tools enable users to create professional-grade content, enhancing the overall digital experience. Both markets are expanding due to increased consumer interest in personal development and creative expression.

Market Research Overview

The Operations Support Business Support (OSS/BSS) software market encompasses solutions designed to enhance the efficiency and effectiveness of IT operations and business support functions. These software solutions enable service providers to manage and optimize their networks, services, and customer interactions. Key features include fault management, performance management, configuration management, and service assurance. OSS/BSS software also facilitates the integration of various IT systems and processes, ensuring seamless communication and collaboration between different teams. Additionally, advanced analytics and automation capabilities help organizations to proactively identify and resolve issues, improving overall service quality and customer satisfaction.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• • OSS
  • BSS
• Deployment
• • Cloud-based
  • On-premises
• Geography
• • North America
  • Europe
  • APAC
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/operations-support-business-support-oss-bss-software-market-size-is-set-to-grow-by-usd-70-2-billion-from-2024-2028--growing-adoption-of-cloud-based-bss-business-support-to-boost-the-market-growth-technavio-302182787.html

SOURCE Technavio