Increasing Uptake of Convergent Billing Systems to Present Opportunity-rich Market for Providers of OSS BSS Systems and Platforms
Largely driven by the growth in the worldwide telecommunication sector, the global market for operational support systems (OSS), business support systems (BSS), and platforms is likely to witness a significant surge in its valuation. According to a study by Transparency Market Research (TMR), the opportunity offered by this market is poised to expand at a CAGR of 10.50% between 2016 and 2024, increasing from US$29.1 bn in 2015 to US$70.9 bn by 2024.
The increasing uptake of convergent billing systems, together with the rising need for customer care services, is likely to support the growth of this market considerably over the forthcoming years. The introduction of the new-generation operation systems and software (NGOSS) framework is also projected to offer potential opportunities for growth to market participants in the near future. However, the regulatory issues and the difficulties faced while integrating OSS BSS systems and platforms with existing systems may limit their adoption across the world.
In this blog post, researchers at TMR answers significant queries related to the global market for OSS BSS systems and platforms:
Q. Which of the regional markets is likely to acquire the leading position in the coming years?
Since North America has always been an early adopter of technology, the market for OSS BSS system and platform is witnessing high growth in this region. Contributing to nearly one-third of revenue generated in the global market, the region is expected to lead the sales of OSS BSS systems and platforms across the world in the coming years.
The rising count of mobile network operators and telecom providers is anticipated to boost the demand for OSS BSS systems and platforms in North America in the near future, ensuring the dominance of this regional market. The favorable government rules and regulations are also projected to impact the North America market for OSS BSS systems and platforms positively over the years to come.
Q. How will be the performance of other regional markets for OSS BSS systems and platforms?
The market for OSS BSS systems and platforms in Asia Pacific will witness a robust rise over the next few years, thanks to the factors, such as growing demand for mobile internet, declining average revenue per user (ARPU) for voice calling, heightened degree of convergence, and the intensified competition.
On the other hand, the European market will be driven by the expanding user base of telecom services and the growing demand for advanced solutions, such as revenue and billing management, in the years to come.
Q. What are the key strategies leading companies rely on to withstand the competition within the market?
The global market for OSS BSS systems and platforms demonstrates a fragmented and highly competitive landscape due to the presence of a large pool of market participants. In order to sustain in this environment, leading companies, such as Nokia Siemens, Telefonaktiebolaget LM Ericsson, Accenture Plc, Amdocs Ltd., and Hewlett-Packard Co., are aggressively focusing on collaborating with startups. For an instance, Amdocs, a U.S.-based company, recently acquired three privately-owned customer experience solution providers, namely, Vindicia, Pontis, and Brite:Bill, in a bid to position Amdocs as the market leader among the key OSS BSS systems and platforms providers across the world.
Read Full Press Release @ http://www.transparencymarketresearch.com/pressrelease/ossbss-market.htm
Other prominent companies in this market are Tata Consultancy Services Ltd., CSG Systems International Inc., IBM Corp., Oracle Corp., and Tech Mahindra Ltd.