Digital Business Support System Market predicted to gain $5.8 billion by 2023

(IT-NEWSWIRE.COM, April 08, 2021 ) According to a new market research report "Digital Business Support System Market by Component (Solutions (Revenue and Billing, Customer, Order, and Product Management) and Services), Deployment Model (Public, Private, and Hybrid Cloud), End-User Type, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the digital BSS market expected to grow from USD 2.8 billion in 2018 to USD 5.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period.

The major factors driving the digital BSS market growth include the advent of tailored BSS solutions and new commercial models, increasing online transactions and use of multiple mobile devices, and reduced operational costs.

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Service segment accounts for a larger market share during the forecast period

Digital BSS services offer complete support to the telecom operators in digital BSS solutions deployment and operations. With the increasing adoption of cloud-based BSS solutions, the demand for the associated services is also increasing among organizations. The digital BSS market by service has been segmented into consulting, implementation, license and support, training and education, and managed services. The overall services segment has a major influence on the digital BSS market size. Furthermore, these services help in reducing costs, increasing the overall revenue, and enhancing the business performance.

License and maintenance services would enhance user experience during the forecast period

The license and maintenance services assist the telecom industry in solving product-related issues. These services also include training the commercials clients in managing the installed digital BSS solutions and bringing them in line with the business requirements. Moreover, the training services also help the clients’ IT teams in developing the required skill sets to easily manage the operations of the installed solutions and promote the adoption of digital BSS solutions. The license services are periodic and subscription-based, and are offered by digital BSS service providers and system integrators.

North America is expected to account for the largest market share during the forecast period

The North America is the most dominant market for digital BSS deployment and progressive region in terms of technology adoption. The North America comprises US and Canada. The US accounts for the highest market share in the digital BSS market. The US and Canada are also the early adopters of trending technologies, such as IoT, big data, DevOps, and mobility, and this reason creates enormous opportunities for the growth of the digital BSS market.

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Major vendors in the global digital BSS market include Amdocs (US), Huawei (China), Ericsson (Sweden), NetCracker (US), CSG International (US), Nokia (Finland), IBM (US), Capgemini (France), ZTE Corporation (China), Optiva (Canada), Openet (UK), Sigma Systems (Canada), Cerillion (UK), Sterlite Tech (India), Accenture (Ireland), Comarch (Poland), Infosys (India), Oracle (US), Mahindra Comviva (India), Qvantel (Finland), BearingPoint (Finland), FTS (Israel), MATRIXX Software (US), MIND CTI (Israel), and TCS (India).

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Digital Business Support System Market predicted to gain $5.8 billion by 2023