Operations Support Business Support (OSS/BSS) Software Market Size by Regional Outlook, Revenue Trends, Business Share And Forecast To 2022-2031

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

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On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

The global operations support business support (OSS/BSS) software market is estimated to garner a revenue of USD 108078.62 Million by the end of 2031, by growing at a CAGR of 10.36% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market generated a revenue of USD 41936.60 Million.

The growth of the market can be attributed to the growing adoption of convergent billing systems amongst the telecom operators, backed by the rising competition and the need to provide enhanced quality services to the customers. With the advancement in broadband cellular networks and the rising adoption of 5G, which is expected to cross 2 Billion connections by the end of 2026, the telecom operators are focusing on expanding their range of services, which is raising the need amongst the operators to consolidate all their billing tasks together and also create enhanced transparency in their billing system. The fifth-generation broadband cellular network technology standard is capable of handling multiple add-on services in addition to basic calling features.

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5G consumers, as a result, are increasingly interested in adding non-connectivity offerings to their mobile subscriptions in addition to their contract subscriptions. For instance, in the year 2021, around 60% of 5G contract mobile subscribers added video streaming content services to their basic subscription. This was an increase of about 15 percentage points as compared to the share of 4G users with such added services.

On the other hand, the growth of the global operations supports business support (OSS/BSS) software market can also be attributed to the increasing adoption of these software, backed by the numerous benefits associated with the use of these software, such as enhanced flexibility, greater cost-effectiveness, and supportive technology to support business functions. In addition to this, growing demand for customized OSS/BSS software is also expected to create numerous opportunities for market growth in the coming years.

Global Operations Support Business Support (OSS/BSS) Software Market Regional Synopsis

Regionally, the global operations support business support (OSS/BSS) software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 41610.27 Million by the end of 2031, up from a revenue of USD 15600.42 Million in the year 2021. The growth of the market in the region can primarily be attributed to the growing transition of the telecom operators towards 5G, and the increasing investments by the telecom operators in the region on 5G is expected to drive the market growth. For instance, it is expected that between 2022 and 2026, close to 99% of the investment of the telecom operators in North America would be on 5G. Moreover, by the end of 2025, close to 270 Million 5G connections are expected for transition from 4G in the region.

On the other hand, the market in Europe is expected to garner the second-largest revenue of USD 28316.60 by the end of 2030, up from a revenue of USD 11490.63 Million in the year 2020. The market in the region is further segmented by country into the United Kingdom, Germany, France, Italy, Spain, Russia, Turkey, Poland, and the Rest of Europe. The market in Germany is expected to garner the largest revenue of USD 6795.98 Million by the end of 2031, up from a revenue of USD 2665.83 Million in the year 2021.

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Growth Drivers and Challenges Impacting the Growth of the Global Operations Support Business Support (OSS/BSS) Software Market

Growth Drivers

  • Growing Adoption of Cloud-Based OSS/BSS Software
  • Increasing Adoption of Convergent Billing Systems

Challenges

  • Rising Concern for Data Security
  • Lack of Skilled Professionals

Global Operations Support Business Support (OSS/BSS) Software Market Segmentation Synopsis

The global operations support business support (OSS/BSS) software market is segmented by solution into OSS, and BSS, out of which, the OSS segment is expected to grow with the highest CAGR of 11.01% during the forecast period. By deployment, the market is segmented into on-premise, and cloud, out of which, the on-premise segment is expected to garner the largest revenue by the end of 2031. By enterprise size, the market is segmented into SMEs and large enterprises, out of which, the large enterprises segment is expected to generate the largest revenue of USD 28444.67 Million by the end of 2023. By application, the market is segmented into IT & telecom, BFSI, media & entertainment, retail & e-commerce, and others. Out of these, the IT & telecom segment is anticipated to garner the largest revenue of USD 83238.69 Million by the end of 2031, up from a revenue of USD 31550.0 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global operations support business support (OSS/BSS) software market that are included in our report are Accenture PLC, Comarch SA, Amdocs, Capgemini Service SAS, Nokia, NetCracker Technology Corporation, Huawei Technologies Co. Ltd., IBM Corporation, Cisco Systems, Inc., Oracle Corporation, and others.

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