According to the new research report titled “Digital Business Support System (BSS) Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 8,017.18 million by 2027, registering a CAGR of 12.1% from 2020 to 2027.
A digital business support system (BSS) permits the organizations to efficiently carry-out a customer-centric business approach and digitally advanced customer-engagement solutions and further enhance customer service. These systems also allow better management of customer profiles, revenue, products, and customer orders. The digital business support system (BSS) also automate the overall business processes to support the complete customer lifecycle that varies from shopping, ordering to the billing process. The communication service providers assist their clients by building a synchronized business process management that eventually leads to substantial upgrade at every step of the business process.
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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.
Key Findings of Study:
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.
The digital Business Support System (BSS) market is segmented on the bases of component and geography. Based on component, the market is segmented into solution and services. The services segment is further bifurcated into professional services and managed services. Furthermore, the professional service segment is again sub-segmented into license and maintenance, consulting, implementation, and training and education. On the basis of geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, North America held the largest market share; however, APAC is estimated to register the highest CAGR during the forecast period (2020–2027). Despite the positive growth outlook, the ongoing COVID-19 pandemic is positively affecting the global economy, and its limiting effect is likely boost business activities and revenues of the digital Business Support System (BSS) industry players across the world.
The major companies operating in the global digital business support system (BSS) market as follows:
- Amdocs Limited
- Huawei Technologies Co., Ltd.
- Telefonaktiebolaget LM Ericsson
- NetCracker Technology Corporation
- CSG Systems International, Inc.
- Optiva Inc.
- Nokia Corporation
- Capgemini SE
- ZTE Corporation
Most of the market initiatives were observed in North America region, which have a high potential of online exam proctoring providers.
A few developments by key players are listed below:
- In February 2021, CSG Systems International, Inc. extends its partnership with Etihad Etisalat (Mobily), a telecom operator in Saudi Arabia. Under the extended partnership, CSG Systems International, Inc. will continue to offer its billing and revenue management solution to Etihad Etisalat (Mobily).
- In 2019, NetCracker Technology Corporation announced that it has signed agreement with Telenet, broadband/cable company service provider in the US. As per the agreement, NetCracker Technology Corporation will provide its BSS and OSS solution to Vast Broadband.
- Openet signed a partnership agreement with Bell, Canada’s largest communications company. Under the agreement Openet will provide its Charging System solution to Bell.