OSS/BSS market to reach $58 billion by 2025
According to Grand View Research, the global OSS/BSS market is expected to reach $58.41 billion by 2025, as traditional networks shift to ...
According to Grand View Research, the global OSS/BSS market is expected to reach $58.41 billion by 2025, as traditional networks shift to software programmable domains running on simplified, lower cost hardware.
Operations support systems (OSS) and business support systems (BSS) offer automation of billing, customer service, service assurance, and service fulfillment. Sector growth can be attributed to efforts to improve customer experience management, which is anticipated to become more imperative to telecom service providers. There has been an increased focus on customer retention with the use of analytics, which is also anticipated to fuel demand for next generation OSS/BSS solutions over the forecast period.
Other findings indicate:
- In 2016, the mobile segment dominated the OSS/BSS market, and was valued at $10.02 billion.
- The revenue management segment is projected to reach $16.12 billion by 2025.
- Customer management is anticipated to witness the highest CAGR of 10.3% over the forecast period because of increased focus on tools aimed at understanding customers and catering to them accordingly.
- North America was valued at $10.16 billion in 2016 and is expected to hold a predominant share in the market, followed by Asia Pacific
- Asia Pacific is anticipated to be the fastest growing region for the market, at a CAGR of 9.5% over the forecast period. The growth is expected to be driven by increased penetration of 4G mobile networks in the region over the forecast period.