PUBLISHER: Grand View Research | PRODUCT CODE: 1404849
PUBLISHER: Grand View Research | PRODUCT CODE: 1404849
The global digital business support system market size is expected to reach USD 18.80 billion by 2030, registering a CAGR of 16.3%, according to a new report by Grand View Research, Inc. The deployment of 5G technology is expected to significantly propel the growth of digital business support system (BSS), as 5G's high bandwidth, low latency, and support for IoT necessitate advanced BSS solutions to manage complex billing, provisioning, and customer management requirements. The increasing adoption of cloud-native solutions as telecom operators and digital service providers transition from traditional on-premise systems to more adaptable and scalable cloud-based BSS solutions is also driving the growth of the market. Automation and AI are becoming integral components of BSS systems, facilitating tasks like fraud detection, customer service through chatbots, predictive analytics, and network optimization. These automation capabilities not only reduce operational costs but also enhance efficiency.
The integration of Operational Support Systems (OSS) and BSS is a fundamental aspect of digital BSS, aligning with the growing emphasis on customer-centricity. OSS handles network management, including inventory, performance, and fault management, while BSS manages the business aspects, such as customer relationships, orders, billing, and revenue. In digital BSS, the integration of OSS and BSS provides a unified view of both the customer and the network. This integration empowers telecom operators to enhance network management by automating tasks like service provisioning and optimization, leading to improved network performance and cost reduction. It enables real-time insights into customer usage and network performance, facilitating proactive issue resolution.
IoT-enabled BSS systems are poised to adapt to the monetization model of IoT, encompassing the management of vast numbers of IoT devices, billing for IoT services, and ensuring robust data protection. As the IoT landscape expands, BSS companies are forging strategic alliances and ecosystems to expand their reach and serve a broader customer base within the telecom sector. Billing IoT services necessitate flexibility to handle various billing models, including usage-based, subscription-based, and event-based billing, while also managing invoicing for large IoT device volumes. Data protection is important, requiring advanced encryption methods, meticulous user permission management, and robust data access auditing to safeguard IoT data from unauthorized access and potential breaches.