Published: Feb, 2017
Ericsson, Hewlett Packard Inc., Accenture PLC, Nokia Siemens, and Amdocs Ltd. were the top five players of the global OSS BSS system and platform market in 2015, with a combined share of nearly 40.0% in its value. According to a new study by Transparency Market Research (TMR), intense competition prevails in the market due to low entry barriers and a large number of players attempting to consolidate their presence. “Mergers and acquisitions are primary strategies of the majority of the key players to expand their OSS/BSS portfolio,” says the author of the report.
BSS solutions to Lead through 2024 Owing to Increasing Demand for Streamlined Business Operations
The global market for OSS BSS system and platform was valued at US$31.86 bn in 2016 and is poised to progress at a CAGR of 10.5% from 2016 to 2024, rising to US$70.97 bn by 2024. On the basis of component, business support systems (BSS) will continue to dominate the market until 2024, commanding 45.1% of the overall market revenue. The growing demand for streamlined business operations and improved customer relationships is contributing to the growth of the segment. The segment is estimated to exhibit a tremendous CAGR of 11.2% during the forecast period.
North America will be the leading regional market until 2024, representing more than 33% of the overall market revenue. The growth of the region is driven by the high degree of standardization and commercialization coupled with conducive regulatory initiatives and the strong demand for streamlined operational and business management solutions. On the other hand, Asia Pacific will expand at a CAGR higher than any other region due to the burgeoning demand for customer care services and convergent charging systems.
Growing Demand for Value-added and Customer Care Services to Propel Growth Prospects
With the advancements in technology, the need for convergent billing is likely to increase. Convergent billing provides customers a cohesive view of all postpaid and prepaid services availed. It also presents communication service providers (CSP) with a multitude of benefits such as ease of implementation and centralized customer support. OSS/BSS plays a vital role in the development of convergent billing systems. Therefore, with the increasing CSP and customers acknowledging the benefits of convergent charging, the global OSS BSS system and platform market is likely to gain significant momentum in the forthcoming years.
“OSS/BSS also plays an imperative role in assisting CSPs with offering core services such as voice, data, and mobile commerce, along with ensuring timely availability of these services,” says a TMR analyst. The rising demand for customer care and value-added services is, thus, providing a fillip to the market. The robust growth of the telecommunication sector is another factor fuelling the market.
Lack of Standard Policies and Guidelines to Take its Toll on Market Growth
The absence of standard policies and guidelines is limiting the global OSS BSS system and platform market from realizing its full potential. As multinational organizations are shifting focus towards 4G and 5G technologies, there is a pressing need for updating pricing plans and customer relationship management (CRM) activities. In developing countries such as India, there is a delayed adoption of new communication standards coupled with the unfavorable regulatory scenario, which in turn is hampering the widespread deployment of OSS/BSS. Moreover, the high-cost requirement and technical difficulties associated with the integration of these systems with existing setups is hindering the growth of the market.
The above data is collated from a research report released by TMR, titled “OSS BSS System and Platform Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global OSS BSS system and platform market is segmented as follows:
Global OSS/BSS System and Platform Market, by Component
- Operation Support Systems (OSS)
- Network Design
- Network Monitoring
- Service Fulfillment
- Service Assurance
- Business Support System (BSS)
- Customer Management
- Revenue Management
- Product Management
- Order Management
- Service Delivery Platform
Global OSS/BSS System and Platform Market, by Geography
- North America
- Asia Pacific
- Middle East and Africa
- South America
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