OSS/BSS Market: Top 5 trends driving the global industry revenue till 2027

OSS/BSS market is expanding significantly from 2021 to 2027 owing to the surging demand for streamlining customer service functions and ensuring high-quality service delivery.

Selbyville, United States – July 20, 2021 /MarketersMedia/ —

The OSS/BSS market share is slated to record appreciable proceeds through the forthcoming years, owing to the surging demand for streamlining customer service functions and ensuring high-quality service delivery.

Enterprises are depicting the extensive trend of digitalization with rising inclination towards cloud-based software solutions. Cloud-based solutions offer major opportunities for industry expansion in the years to come. Major industry players are focusing on innovative strategies comprising mergers, acquisitions, product launches, and partnerships for consolidating their position in the market.

To quote an instance, in October 2020, rapidly expanding digital platform solution provider, BearingPoint/Beyond, announced that BNET has deployed both OSS and BSS systems that are powered by the company’s cloud-native Infonova BSS. Under the terms of the agreement, network inventory specialists CNI (CROSS Network Intelligence) is offering service assurance solutions and network inventory to BNET.

Such advancements are expected to boost the demand for OSS/BSS tools through the coming years. On this note, as per the latest study by Global Market Insights, Inc., the OSS/BSS market size is estimated to surpass USD 100 billion by 2027.

Some major trends likely to impel OSS/BSS market forecast comprise:

Increasing demand for cloud-based services

The cloud segment is anticipated to record a larger market share through 2027. This rise is attributed to the re-usability and flexible configuration as well as the advantage of simplification of the process of rolling out a new service.

Cloud services are popular among CSPs and other enterprises owing to their cost effectiveness and the flexibility and scalability of cloud systems. These factors are expected to escalate segment growth through the forecasted span.

To access a sample copy or view OSS/BSS market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/2921

Rising preference for customer & product management services

Customer & product management services are set to escalate at a CAGR of 10% between 2021 and 2027. This is because the services play a significant role for operators in the sales, development, and management of products.

Businesses are adopting customer & product management in their operations owing to altering lifestyle and customer behavior. This creates several opportunities for businesses to provide more personalized services for sustaining the stiff competition.

Soaring LTE penetration in the Asia Pacific

The Asia Pacific OSS/BSS market size is poised to record a substantial CAGR of 15% through the estimated period. This upsurge is attributed to the increasing penetration of LTE and the wide range of investments in 5G commercialization initiatives among the developing economies comprising India and China.

Escalating popularity in media & entertainment

The media & entertainment segment is slated to record a remarkable CAGR of over 15% between 2021 and 2027. This growth is due to the rising demand for on-demand videos as well as video streaming services.

As clients are becoming more demanding, businesses are looking for delivering services rapidly with higher quality. Organizations are looking for new ways to improve their service delivery for customers. These factors are expected to push the demand for OSS/BSS systems across enterprises, boosting market growth through the coming years.

Surging adoption in SMEs

The SME segment in the OSS/BSS market is poised to register exponential growth through 2027. This escalation is ascribed to the extensive adoption of OSS/BSS systems across small and medium enterprises for the improvement of operational productivity and escalating entrepreneurs’ knowledge and skills.

These parameters are expected to create several opportunities for SMEs for growing market share.

In a nutshell, the integration and standardization capabilities of OSS/BSS tools across all major network virtualization platforms will propel market growth through the estimated period.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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