+1-888-308-5802     
News Contact Us

OSS/BSS Market Trend Will be Spurred by Increasing Trend of Outsourcing Services in the Telecom Industry Over 2018 to 2024

Author : Ronak Bora | Published Date : 2019-03-28 

The OSS/BSS market is propelled by the increasing trend of outsourcing services in the telecom industry. As telecommunication service providers grapple with the increasing amount of data, they also need to focus on providing innovative services that will aid them in retaining customers. Numerous companies are willing to outsource their OSS/BSS functions so that they can concentrate on next-generation products and services.

By outsourcing OSS/BSS workflows to an independent service provider, telecom companies are achieving an improved level of customer service assurance. The independent OSS/BSS partners offer specialized expertise and deliver services with defined KPIs including hosting, support services, application operation/administration along with the responsibility for the adoption of new network technologies.

Request for Sample Copy of This Report @ www.gminsights.com/request-sample/detail/2921

The OSS solutions segment held a majority share accounting for nearly 50% of the OSS/BSS market in 2017 and is expected to hold a dominant share throughout the forecast timeline. The growing need among telecom service providers to outsource the operation support services is the primary factor driving the market. In this segment, the inventory management segment is estimated to hold a major share of over 40% by 2024 due to the increased demand for the automated inventory management solutions among telecom service providers.

In the BSS segment, service fulfillment solutions are projected to register growth with a CAGR of over 10% due to the demand for an integrated software solution that offers services ranging from assembly services to the delivery of service to the customers.

As per the deployment model, the on-premise segment is expected to dominate the overall OSS/BSS market with a share of over 63% in 2024. The growth of the market is attributed to the robust functionality and superior data security provided by the deployment model. Since the software used is licensed and the entire instance of software remains within an organization’s premises, there is more control in terms of security. The on-premise system also offers organizations with the more control over the implementation process. As a result, organizations can customize their systems as per their requirements.

Make an Inquiry for purchasing this Report @ www.gminsights.com/inquiry-before-buying/2921

Cloud deployment is projected to grow at a CAGR of about 10% during the projected period. Cloud models allow organizations to benefit from best practices, document operational procedures, and are well-proven business models. The cloud model also offers flexible configuration and re-usability, which simplifies the process of launching a new service. Moreover, the model also enables organizations to streamline their business process.

 BFSI sector emerged as the major end-user of the OSS/BSS market. It is estimated to grow at the CAGR of more than 11% during the forecast period. As the BFSI sector is moving more toward digitalization and automation, it is looking for more advanced solutions to analyze the information from numerous areas to develop its own competitiveness. The OSS/BSS system allows the organization to analyze the data and financial situation of an organization. The system also enables financial institutes to streamline their operations, scale up their operation, and develop more effective marketing strategies while keeping the cost of the operations low.

The Asia Pacific OSS/BSS market is projected to register an accelerated growth at a CAGR of over 10% during the forecast period. With the growing popularity of smartphones, there has been an increase in the consumption of the mobile broadband services resulting in new OSS/BSS requirements. The complexity of network technologies has compelled the telecom operators to adopt new-generation OSS/BSS systems to ensure uninterrupted network services. As the CSPs face challenges related to costs, the OSS/BSS platforms help them to lower their network related cost by outsourcing BSS activities to managed service providers.

Browse Complete Report Summary @ www.gminsights.com/industry-analysis/oss-bss-market

The market is characterized to be highly competitive due to the presence of several multinational and regional players. Some of the prominent vendors in the OSS/BSS market are Amdocs, Accenture, HP Enterprises, CSG Systems, Ericsson, Netcracker, Optiva, Microsoft, Tata Consultancy Services (TCS), Oracle, and IBM.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Aerospace Fillers Composite Market Showcase Impressive Growth Rate between 2019 and 2025

Published Date: 2019-06-13         Author: Ronak Bora

Global Market Insights added a new report on global Aerospace Fillers Composite Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region. Growing demand f... Read More

Missile Composites Market to observe remarkable push over 2019-2025

Published Date: 2019-06-13         Author: Ronak Bora

Global Market Insights presents the Missile Composites Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue. Significant advances have happened i... Read More

Aerospace Floor Panels Market: Industry Potential, Trends and forecast 2024

Published Date: 2019-06-13         Author: Ronak Bora

Rapidly increasing air traffic resulting from worldwide expansion of the aviation sector has propelled the aerospace floor panels market with key manufactures speeding up the production of commercial aircrafts. Constituting a major portion of any aircraft’s weight, floor panels need to be ligh... Read More

© 2019 Fractovia. All Rights Reserved