MarketsandMarkets forecasts the Cloud OSS BSS Market size to grow from USD 20.1 billion in 2022 to USD 36.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. The demand for improving network infrastructure to support various technologies is driving the growth cloud OSS BSS solutions. Increasing technological and 5G adoption is paving the way for cloud OSS BSS market.
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By component, the services segment to have a higher growth during the forecast period
The cloud OSS BSS services segment is expected to have a higher growth rate during the forecast period. The cloud OSS BSS market, by service, is segmented into professional services and managed services. The need for consulting expertise to guide the enterprises to deploy the right solutions to improve operational efficiency will drive the demand for professional services. Managed services, focused on critical business issues, current requirements, and future growth opportunities, are majorly implemented by the telecom industry to enhance their service and business efficiency. This is expected to propel the demand for best-in-class services in this market.
By BSS solution, the billing and revenue management segment to account for the highest market share during the forecast period
In BSS solution, the billing and revenue management segment is expected to have the highest market share during the forecast period. Billing and revenue management solutions are designed to handle the accounting challenges of telecom companies with complex revenue streams and billing requirements. The main drivers for the growth of billing and revenue management solutions includes, the need to assist telecom operators in handling all bill-related processes across various lines of business and fulfill the need for highly efficient ecosystems and deliver a range of capabilities. Also, the need for CSPs to offer digitalized services to attract new customers and increase customer retention will drive the demand for billing and revenue management solutions in the market.
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Few globally established players such as Amdocs (US), Ericsson (Sweden), Netcracker (US), Huawei (China), HPE (US), and Oracle (US) are dominating the cloud OSS BSS market. In this market various strategies such as enhancements; partnerships, expansions, new product launches, collaboration, agreements, and acquisitions; and other growth strategies adopted by the top key players.
Amdocs launched a 5G native CES 21, which is the latest version of its cloud-based OSS-BSS integrated suite. It enables service providers to build, deliver, and monetize advanced services, leveraging their investments in technologies, such as 5G standalone network, Multi-access Edge Computing (MEC), SDN, AI and ML, and the cloud. Samsung and Amdocs collaborated to accelerate the delivery of 5G and 4G network solution. Amdocs entered into an agreement with Hungary’s Magyar Telekom to modernize and digitalized its business support system. The company has acquired Sourced Group to strengthen its capability and bring the communication industry to cloud. Amdocs and Google Cloud announced a strategic partnership to deliver Amdocs’ leading OSS and BSS systems on Google Cloud and create solutions and services to help communications companies modernize, automate, and digitize with the cloud.
Ericsson is a distinguished global player, providing multinational networking and telecommunications equipment. It operates through four business segments: networks, digital services, managed services, emerging businesses, and others. Together with Telefónica, and Samsung, developed a solution for 5G interactive calling, based on IMS data channel standard and vEricsson Cloud IMS network. Ericsson has entered into partnership with MTS and Ericsson entered into a partnership to expand 5G-ready networks in Russia. The key focus of the company is to support Industry 4.0. the company has also partnered with AWS to move Ericsson’s BSS digital portfolio to public cloud. It will modernize the services and improve the customer experience.
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