Cloud OSS BSS Market will Expected to Surpass $21.77 Billion by 2022

(IT-NEWSWIRE.COM, May 30, 2019 ) According to new market research report "Cloud OSS BSS Market by Type (Solution and Service), Solution (OSS and BSS), Service (Professional and Managed Services), Deployment (Public, Private, and Hybrid), End-User Type (SMES and Large Enterprises), and Region - Global Forecast to 2022",

The cloud Operation Support System (OSS) Business Support System (BSS) market size is expected to grow from USD 11.67 Billion in 2017 to USD 21.77 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.3% during the forecast period.

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The demand for cloud OSS BSS is driven by factors, such as adoption of customized cloud OSS BSS solutions and services, rising usage of convergent billing systems, the shifting focus of Communication Service Providers (CSPs) on enhancing customer experiences, and lower operational expenses. With the increase in the adoption rate of cloud computing among CSPs, the cloud OSS BSS market is expected to gain a major traction during the forecast period.

The BSS solution is expected to contribute the largest market share

The BSS solution helps an enterprise or organization to secure revenue and quality, while supporting many business functions, including marketing, product offerings, sales, contracting, and delivery of goods and services. Together with OSS, BSS is used to support various end-to-end telecommunication services (e.g., telephone services). BSS is further segmented into billing and revenue management, customer and product management, and service fulfilment.

Professional services segment is expected to contribute the largest market share

Professional services help in lowering risks, reducing complexity, and raising the return on investment, as they can be customized, are easily applicable, and deliver maximum service assurance. The telecom sector is moving towards cloud adoption for efficient operational functions and customer experiences, which can be achieved through professional services that include training development; design, implementation and project management; deployment methodology; pre-planning; and cost effectiveness.

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Asia-Pacific (APAC) is projected to grow at the highest CAGR

North America is expected to hold the largest market share in 2017, while APAC is the fastest growing region, in terms of CAGR due to the diverse subscriber base in many countries. Cloud emergence and mandatory government regulations are simultaneously helping boost the growth of the cloud OSS BSS market in this region.

The major vendors providing cloud OSS BSS are Accenture (Dublin, Ireland), Amdocs (Chesterfield, Missouri, US), Cisco Systems, Inc. (San Jose, California, US), Comarch S.A., (Krakow, Poland), LM Ericsson Telephone Company (Stockholm, Sweden), Hewlett Packard Enterprise Company (Palo Alto, California, US), Huawei Technologies Co., Ltd. (Shenzhen, China), International Business Machines Corporation (Armonk, New York, US), Mahindra Comviva (Gurgaon, Haryana, India), Mycom OSI (Berkshire, London, UK), Nokia Corporation (Espoo, Uusimaa, Finland), Oracle Corporation (Redwood City, California, U.S.), Sigma Systems (Toronto, Ontario, Canada), Subex Limited (Bangalore, Karnataka, India), and TEOCO Corporation (Fairfax, Virginia, US).

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Cloud OSS BSS Market will Expected to Surpass $21.77 Billion by 2022