Yahoo Finance Digital Business Support System (BSS) Market Size to hit $ 8.0Bn, Globally, by 2027 with 12.1% CAGR | The Insight Partners
The digital business support system (BSS) market growth is driven by shift of telecommunication companies toward comprehensive digital offering & introduction of advanced technologies, such as artificial intelligence (AI), virtual reality (VR), machine learning (ML), augmented reality (AR).
New York, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Digital Business Support System (BSS) Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Component (Solution, Services [Professional {License and Maintenance, Consulting, Implementation, Training and Education}, Managed Services]), Geography”, the global digital business support system (BSS) market was valued at US$ 3.27 billion in 2019 and it is projected to reach US$ 8.0 billion by 2027; it is expected to grow at a CAGR of 12.1% from 2020 to 2027.
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Digital Business Support System (BSS) Market Size, Share, Segmentations, Country Scope:
Market Size Value in | US$ 3.27 billion in 2019 |
Market Size Value by | US$ 8.0 billion by 2027 |
Growth rate | CAGR of 12.1% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
No. of Pages | 227 |
No. of 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 |
Digital Business Support System (BSS) Market: Competitive Landscape
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 key players profiled in this market study. In addition to these players, several other important companies have been studied and analyzed to get a holistic view of the global digital business support System (BSS) market and its ecosystem.
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Introduction of advanced technologies, such as artificial intelligence (AI), virtual reality (VR), machine learning (ML), augmented reality (AR), and the internet of things (IoT)—is boosting the introduction of advanced solutions, such as digital business support system (BSS). For instance, the implementation of AI in chatbots offers uninterrupted customer support through cloud platforms. In the past few years, the communication service providers (CSPs) and telecom operators are constantly experiencing a significant change in number of end users and their varying demands. The demand for value-added and data services has emerged as one of the prime revenue sources compared to voice communication revenues. The highly growing demographics worldwide and their dynamic demands for services have boosted the telecom sector and the requirement to lower administrative costs by optimizing the operational expenses. Telecom companies, CSPs and Telco operators across the globe are adopting digital business support system (BSS) and services that help them achieve improved operational efficiency and capability while optimizing resources and achieving high profitability.
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Key Findings of Study:
Geographically, the global digital business support system (BSS) market is fragmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South America (SAM). The market in APAC is projected to experience a significant growth during the forecast period.
Nevertheless, significant strategic initiatives by several industry players are observed in the market; for instance, in 2021, Nokia announced that it has partnered with Google to develop a new solutions for communication service providers, which would modernize their network infrastructures, develop a cloud-native 5G Core, and to provide network edge as a business services platform for enterprises. Moreover, in 2020, Cerillion Plc signed an agreement with GO Chooses, a CSP based in Malta. As per the agreement, Cerillion Plc will provide its core business support system platform to GO Chooses.
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During the COVID-19 pandemic, businesses and organizations, faced with unprecedented challenges, are looking for different ways to stay productive. The selection of the right candidate for jobs and certification process has become a remote process for many businesses, schools, and universities. Centers for Disease Control and Prevention (CDC) have recommended social distancing measures for schools and universities, and organizations, making remote working a new norm. All such factors are expected to impede market growth in 2020 and mid-2021.
Recent Industry Developments:
Development | Description |
Openet signed a partnership agreement with Bell | Openet signed a partnership agreement with Bell, Canada’s largest communications company. Under the agreement Openet will provide its Charging System solution to Bell. |
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According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Spain, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and likely in 2021. The pandemic has positively impacted the telecom businesses and CSPs around the globe.
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Cloud Computing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Model [Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)], Deployment Model (Public Cloud and Private Cloud), Organization Size [Small & Medium-sized Enterprises (SMEs) and Large Enterprises], and Verticals (BFSI, IT and Telecom, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences, and Others)
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Network Support and Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Hardware, Software, Services); Enterprise Size (Small and Medium Enterprises, Large Enterprises); End User (BFSI, Healthcare, Government, IT and Telecom, Retail, Others) and Geography
Smart Education and Learning Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Hardware, Software, Services); Learning Mode (Adaptive Learning, Collaborative Learning, Social Learning, Virtual Instructor LED Training, Simulation-based Learning, Blended Learning); End-user (Academics, Corporate) and Geography
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