The Insight PartnersDigital Business Support System (BSS) Market fueled by Shift of Telecommunication Companies Toward Comprehensive Digital Offering by 2027According to The Insight Partner’ latest market study on “Global Digital Business Support System (BSS) Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component” the market was valued at US$ 3,265.07 million in 2019 and is projected to reach US$ 8,017.18 million by 2027; it is expected to grow at a CAGR of 12.1% from 2020 to 2027.
Market Size Value in - US$ 3,265.07 Million in 2019
Market Size Value by - US$ 8,017.18 Million by 2027
Growth rate - CAGR of 12.1% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 227
No. Tables - 77
No. of Charts & Figures - 93
Historical data available - Yes
Segments covered - Component, Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Advent of Advanced and Easy-to-Use Digital Business Support System (BSS) Solutions
There has been a growing need for advanced and easy-to-use digital business support system (BSS) solutions. End users of BSS solutions have a large number of backend operations that they want to manage effectively. Therefore, they look for a digital Business Support System (BSS) solution that is comprehensive and easy-to-operate. Business environment and competitive landscape in the telecommunication sector are changing radically. New technology, especially 5G, acts as a catalyst for further disruption, thereby creating a unique opportunity to offer value-added services. Companies are tailoring their BSS requirement in order to create efficiency in the backend operation. For instance, Vivo, the subsidiary of the Telefonica Group operating in Brazil, effectively deployed Netcracker's Digital Business Support System (BSS) solution to manage product pricing, promotion, and delivery strategies across its enterprise business. Digital Business Support System (BSS) solutions are required to aggregate services, accommodate dynamic relationships with partner businesses, and effectively support the new business model. Therefore, digital Business Support System (BSS) vendors are now embracing advanced technologies, such as analytics and business intelligence, to develop a better real-time solution. Digital Business Support System (BSS) has the cloud-native architecture to provide unprecedented levels of flexibility and scale. With cloud-native architecture, operators can leverage the cloud's multitenancy characteristics to develop consistency of process and reduce the overall time and cost of development. Digital Business Support System (BSS) are, therefore, significantly deployed by CSPs, driving the global market.
Impact of COVID-19 Pandemic on Digital Business Support System (BSS) Market
The COVID-19 pandemic has been a major challenge for all the industries present in the region, but has impacted positively to the telecom sector. The ongoing shift of organization to remote work or work from home is the major driver for the growth of networking infrastructure and connectivity. The demand for digital BSS is anticipated to boost for offering enhanced end-user experience in the field of communication and networking in the region. Although, the factory and business shutdowns across the US, Canada, and Mexico hampered the digital Business Support System (BSS) market, it witnessed a growth. North America is home to a large number of technology companies. Thus, the impact of COVID-19 is anticipated to be quite severe across the region in the year 2020 and likely in 2021. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.
Geographically, North America held the largest share of the global digital business support system (BSS) market in 2019, followed by Europe and Asia Pacific. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The global digital business support system (BSS) market is segmented into component and geography. Based on component, the market is further bifurcated into solutions and services. The services segment is expected to hold a larger share of the market during the forecast period.
Global digital business support system (BSS)solutions are required to aggregate services, accommodate dynamic relationships with partner businesses, and effectively support the new business model. Therefore, global digital business support system (BSS) vendors are now embracing advanced technologies, such as analytics and business intelligence, to develop a better real-time solution. Digital business support system (BSS) has the cloud-native architecture to provide unprecedented levels of flexibility and scale. With cloud-native architecture, operators can leverage the cloud's multitenancy characteristics to develop consistency of process and reduce the overall time and cost of development. Global digital business support system (BSS) are, therefore, significantly deployed by CSPs, driving the global market.
AMDOCS, Huawei, Alepo Technologies Inc, Ericsson, Netcracker, CSG International, Nokia, IBM Corporation, Capgemini, ZTE Corporation, Optiva, Openet, Sigma System, Cerillion, Sterlite Tech, Comarch, Accenture PLC, Infosys, Oracle, Mahindra Comviva, QVANTEL, Bearingpoint, FTS, MATRIXX Software, TCS, and MIND CTI are among the major companies operating in the global digital business support system (BSS) market.
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