Global Digital BSS Market - Introduction
- Digital business support systems (BSS) enable enterprises to implement a customer-centric business approach and digitally upgrade customer-engagement solutions so that the customer service can be improved. Digital business support systems (BSS) help in better management of customer profiles, products, revenue, and customer orders.
- Digital business support systems (BSS) also automates business processes to assist the complete customer lifecycle from shopping, ordering, and billing. System providers assist clients in creating synchronized business process management, which ultimately leads to more significant upgradation at every step of the business process.
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Impact of Coronavirus (COVID-19) on the Digital BSS Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) positively impacts the digital BSS market. Increasing online activities or transactions across various industries (healthcare, retail, IT & telecom, etc.), due to the pandemic situation is expected to result in significant rise in deployment of digital BSS during 2020 and 2021, which is expected to positively impact the digital BSS market.
Increasing Demand for Emerging Technologies across Enterprises to Drive the Global Digital BSS market
- Digitalization is expected to create more opportunities in the near future. The entire customer lifecycle right from customer awareness to delivery of support services is likely to lead to augmentation of advanced technologies, thus providing a seamless experience to customers and helping organizations work easier.
- Companies are adopting advanced technologies due to constantly rising and changing expectations of customers. Similarly, companies are making use of web analytics, customer relationship management (CRM), social analytics, and a multi-channel and omni-channel approach to improve customer experience and connecting to a larger customer base.
- Moreover, introduction of advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and Internet of Things (IoT) is also set to support the introduction of advanced solutions.
- For instance, AI is implemented in chatbots for uninterrupted customer support on online platforms. Virtual trail rooms are adopted by retail stores to provide a digitalized purchase experience.
- The impact of this driver is expected to be high during the forecast period. Adoption of digital BSS is increasing across the globe, owing to increasing demand for emerging technologies across enterprises. This is expected to boost the global digital BSS market in the next few years.
High Capital Cost Expected to Hamper the Digital BSS Market
- The investment cost linked with the development of digital business support systems (BSS) along with rapidly changing technology is rather high. This makes it challenging for small & medium size enterprises to adopt these solutions according to their requirements and budget.
- Impact of this restraint is expected to be moderate during the forecast period. Adoption of digital BSS is expected to be hampered across the globe, owing to high capital cost.
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North America to Account for Major Share of the Global Digital BSS Market
- In terms of region, the global digital BSS market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global digital BSS market during the forecast period due to growing online transactions and usage of numerous mobile devices. Europe is expected to follow North America in terms of share of the global digital BSS market from 2020 to 2030.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to growing adoption of cloud-based business support systems (BSS), specifically in India, Japan, and China.
Key Players Operating in the Global Digital BSS Market Include:
- Huawei Technologies Co., Ltd.
- Telefonaktiebolaget LM Ericsson
- Netcracker Technology Corp.
- Nokia Corporation
- ZTE Corporation
- Oracle Corporation
- MATRIXX Software
Global Digital BSS Market: Research Scope
Global Digital BSS Market, by Component
- Channel Management
- Marketing Management
- Customer Management
- Revenue Management
- Sales Management
- Partner Management
- Others (Product Management, etc.)
- Consulting & Integration
- Support & Maintenance
Global Digital BSS Market, by Deployment
Global Digital BSS Market, by End-user
- Banking, Financial Services, and Insurance
- Energy and Utilities
- Media and Entertainment
- Transportation & Logistics
- Others (Agriculture, etc.)
Global Digital BSS Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.