Global OSS/BSS Market to Support the Flourishing Telecom Industry
Posted on Jun 12, 2014
The global market of Operations Support System (OSS) and Business Support System (BSS) solutions supplies software products to the telecommunications industry, allowing it to manage its business, operations, and processes more efficiently. Of the two terms, the term Operations Support System (OSS) refers to software solutions that aid telecom operators in managing network related operations. The term Business Support System (BSS) refers to software products that allow businesses in managing customer-oriented processes such as order management, billing and Customer Relationship Management (CRM). In totality, these systems enable telecom operators and businesses in maintaining the sustainability of their operations.
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OSS/BSS solutions are extremely important for today’s telecom industry. The digital world is on the brink of a revolution, where everybody and everything has to be connected in real time. Along with this, the arrival of technologies such as mobile broadband and cloud computing have radically changed the entire ecology of the global telecom industry, and made it much more diverse and complex. Fulfilling the continuously rising demands of the always-connected, online lifestyle of the global population and organizations present a completely new level of challenges for telecom operators. To ensure that these complexities do not hamper the operational efficiency and user experience, it has become imperative for telecom operators to adopt OSS/BSS solutions.
The global OSS/BSS market is growing swiftly.
Anticipating the future of the telecom industry, whichwould most probably be more dynamic and complex, telecom operators across the globe have started adopting OSS/BSS solutions at a swift pace for the past few years.
Analysts state that the global market for OSS/BSS solutions, which was worth nearly US$21.86 billion in 2013, will be worth approximately US$49.78 billionby 2020. To achieve this feat, the market will register growth at a CAGR of nearly 12.7% over the years through 2020. The market is currently chiefly driven by rising demands for convergent billing systems and the pressing need to improve customer care to survive in the thriving and highly competitive global telecom industry.
Nonetheless, there are a few restraints limiting it.
Factors such as certain regulatory issues in regional marketplaces and the difficulty faced by novel OSS/BSS solutions in blending properly with conventional systems limit market growth to certain levels. However, emergence of new generation operation systems and software (NGOSS) framework is expected to allow market players in reaping benefits of an increased set of potential growth opportunities.
OSS/BSS product/solution preferences are diverse.
Currently, customer management solutions help the overall BSS market in garnering much of its revenues. However, over the next few years,declining average revenue per user (ARPU) in Asia Pacific and other lesser developed regional markets, rising customer churn rate and rising cases of frauds will prompt telecom companies to present increased demands for revenue management solutions.
In case of OSS solutions, service assurance solutions will garner the maximum revenues in the future years due to rising demand for consistent high-speed connectivity in developed countries. In developing countries from the Asia-Pacific region, OSS solutions for network design and monitoring are in high demand currently.
Mature OSS/BSS markets are currently concentrated in the developed world, but developing nations promise much of the future growth. In 2013, regional OSS/BSS solutions market of North America earned the major share of revenues to the global market. However, analysts state that the global OSS/BSS market will achieve its highest growth in the lesser developed markets of developing economies such asAfrica, Asia and Latin America.
The global marketplace features highly competitive dynamics.
Leading international IT companies are strongly expanding their OSS/BSS businesses in emerging economies to tap the enormous growth potential in these regions. Companies such as Accenture Plc, Tata Consultancy Services Limited,Telefonaktiebolaget LM Ericsson,IBM Corporation,Oracle Corporation, Hewlett-Packard Company,CSG Systems International, Inc., and Amdocs Ltd., are the key players of the market and have clients from distant corners of the world.
For sustaining competition, most of these companies are aiming for long-term strategic alliances with network operators in regional markets. Additionally, these companies are also offering client- and problem-specific OSS and BSS solutions to gain an edge over the competitors.
Browse Full Global OSS/BSS Market Report With Complete TOC @ http://www.transparencymarketresearch.com/ossbss-market.html
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