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The digital BSS market is estimated at USD 5.8 billion in 2023 to USD 12.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.6%
The increasing adoption of cloud-based solutions over traditional on-premises solutions is driving the growth of the digital BSS market. Cloud computing is a major trend in the telecommunications industry, and it is also having a significant impact on digital BSS.
New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital BSS Market by Offering, Solution, Vertical and Region - Global Forecast to 2028" - https://www.reportlinker.com/p05645040/?utm_source=GNW
Cloud-based BSS solutions offer a number of benefits over traditional on-premises solutions, including scalability, flexibility, and cost-effectiveness.
"By offering, license and maintenance segment to hold the largest market size during the forecast period."
License and maintenance service is a significant part of ensuring that digital BSS solutions are used effectively and efficiently.It helps to keep the software up-to-date and secure, and it provides users with the support they need to get the most out of the software.
License and maintenance service helps to enhance the user experience by providing training on the software use. Also, the license and maintenance service help to improve security by providing security patches and updates.
Based on the Solution, the customer management segment is expected to register the highest growth rate during the forecast period.
The digitization of the customer management solution enhances the customer experience by introducing next-generation technologies, such as IoT, AI, big data, analytics, and cloud. For instance, various digital BSS solution vendors have introduced the predictive analytics feature in their digital BSS solutions to predict customer behavior and their buying pattern for further product customization and order management.
"Europe to register the second largest market size during the forecast period."
Europe is expected to hold the second-largest market share in the global digital BSS market.The region comprises major growing economies, such as the UK and Germany, which offer great growth opportunities to the digital BSS market.
The increasing requirement for quicker computing abilities, virtualized environment with analytics, security, digitalization, high-volume networking, and increased overall speed and responsiveness of digital BSS solutions are the most important driving factors for the European digital BSS market.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-level – 35%, D-level – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and the Rest of the World- 5%.
The major players in the digital BSS market include Amdocs Limited (US), Huawei Technologies Co. Ltd (China), LM Ericsson Telephone Company (Sweden), CSG Systems International, Inc. (US), Nokia Corporation (Finland), International Business Machines Corporation (US), ZTE Corporation (China), Optiva Inc. (Canada), Sigma Systems Canada LP. (US), Cerillion Technologies Limited (UK), Sterlite Technologies Limited (India), Accenture plc (Ireland), Capgemini SE (France), Infosys Limited (India), Oracle Corporation (US), Mahindra Comviva (India), Qvantel (Finland), BearingPoint (Netherlands), Formula Telecom Solutions Ltd. (US), MATRIXX Software, Inc. (US), MIND C.T.I. Ltd. (UK), and Tata Consultancy Services Limited (India). Hansen Technologies (Australia), Comarch SA (Poland), Avema Corporation (Ontario), and Suntech S.A. (Poland).These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the digital BSS market.
Research Coverage
The market study covers the digital BSS market size across different segments.It aims at estimating the market size and the growth potential across different segments, including offerings (solutions and services), solutions, verticals, and regions.
The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global digital BSS market’s revenue numbers and subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (advent of tailored BSS solutions and new commercial models, reduced operational costs, and increasing online transactions and use of multiple mobile devices), restraints (time and cost constraints), opportunities (outcome and pull economies, and NGOSS proliferates traditional BSS solutions in the telecom vertical), and challenges (increasing complexities in network transactions and integration of digital BSS solutions with legacy systems, and lack of expertise in telecom companies to implement digital BSS solutions) influencing the growth of the digital BSS market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the digital BSS market.
Market Development: Comprehensive information about lucrative markets – the report analyses the digital BSS market across various regions.Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the digital BSS market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, including Amdocs Limited (US), Huawei Technologies Co. Ltd (China), LM Ericsson Telephone Company (Sweden), CSG Systems International, Inc. (US), Nokia Corporation (Finland), International Business Machines Corporation (US), ZTE Corporation (China), Optiva Inc. (Canada), Sigma Systems Canada LP. (US), Cerillion Technologies Limited (UK), Sterlite Technologies Limited (India), Accenture plc (Ireland), Capgemini SE (France), Infosys Limited (India), Oracle Corporation (US), Mahindra Comviva (India), Qvantel (Finland), BearingPoint (Netherlands), Formula Telecom Solutions Ltd. (US), MATRIXX Software, Inc. (US), MIND C.T.I. Ltd. (UK), and Tata Consultancy Services Limited (India). Hansen Technologies (Australia), Comarch SA (Poland), Avema Corporation (Ontario), and Suntech S.A. (Poland).
Read the full report: https://www.reportlinker.com/p05645040/?utm_source=GNW
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