PUBLISHER: The Business Research Company | PRODUCT CODE: 1425328
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425328
Cloud OSS BSS Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cloud oss bss market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cloud oss bss? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud oss bss market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The cloud OSS refers to software typically used by businesses to control their operating systems or communication networks. Communications service providers utilize it to supervise, control, evaluate, and manage computer or telephone network systems. Cloud OSS is commonly employed by businesses to handle various operational aspects, including processing and financial concerns.
The major components of cloud OSS BSS are solutions and services. Solutions refer to cloud OSS BSS solutions that enable Communications Service Providers (CSPs) to monetize their network assets by catering to business clients, facilitating ecosystem partners, providing specialized networks, IoT platforms, connectivity, communication, and collaboration. The cloud types include public cloud, private cloud, and hybrid cloud, used by both mobile and fixed operators, catering to large enterprises and small and medium-sized enterprises (SMEs). Various industry verticals, such as IT and telecom, Banking, Financial Services and Insurance (BFSI), media and entertainment, retail, e-commerce, and other sectors, make use of cloud OSS.
The cloud OSS BSS market research report is one of a series of new reports from The Business Research Company that provides cloud OSS BSS market statistics, including cloud OSS BSS industry global market size, regional shares, competitors with a cloud OSS BSS market share, detailed cloud OSS BSS market segments, market trends and opportunities, and any further data you may need to thrive in the cloud OSS BSS industry. This cloud OSS BSS market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cloud OSS BSS market size has grown rapidly in recent years. It will grow from $24.22 billion in 2023 to $27.09 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to the evolution of telecom networks, the expansion of the subscriber base, market competition, and innovation, as well as the growing demand for real-time data. Globalization of telecom operations, a focus on customer experience, and considerations related to data privacy and compliance also contributed to this growth.
The cloud oss bss market size is expected to see rapid growth in the next few years. It will grow to $44.11 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to concerns regarding cybersecurity, digital transformation initiatives, the adoption of subscription-based business models, telecom network convergence, a focus on operational efficiency, and regulatory support for telecom innovations. Major trends in the forecast period include the migration to cloud-based solutions, the integration of AI and machine learning, the rollout of 5G networks, emphasis on security and compliance, service orchestration and automation, as well as the deployment of hybrid and multi-cloud solutions, and a focus on customer experience management.
The anticipated surge in 5G adoption is poised to be a significant driver for the expansion of the cloud OSS BSS market. 5G, the fifth-generation mobile network technology, promises enhanced data rates, low latency, increased network stability, and massive capacity. With 5G facilitating a variety of use cases, there is a growing imperative for the automation of OSS/BSS infrastructure, both on the front-end and back-end. As of December 2021, North America witnessed a substantial milestone with 72 million 5G connections. This surge in 5G adoption is a key factor propelling the growth of the cloud OSS BSS market.
The escalating demand for cloud computing is expected to fuel the growth of the cloud OSS BSS market. Cloud computing, a technology paradigm delivering a spectrum of computing services over the internet, has become integral to various industries. Cloud OSS BSS play a vital role in managing and optimizing cloud resources, automating billing processes, and ensuring operational seamlessness. The market for OSS/BSS solutions is expanding, driven by the increasing adoption of cloud-based applications and services. In October 2023, the annual revenue generated from cloud infrastructure services reached a substantial $178 billion. This robust demand for cloud computing is a major contributor to the growth of the cloud OSS BSS market.
A prominent trend in the cloud OSS BSS market is the focus on advancements in cloud-based technologies by major industry players. Companies are actively engaged in developing innovative solutions tailored to the unique business and technological requirements of the communication service provider (CSP) industry. Accenture, an Ireland-based IT services company, exemplifies this trend by creating an integrated solution framework designed to assist CSPs in transitioning to cloud-based BSS. This strategic move by Accenture showcases the industry's commitment to leveraging cloud technologies to enhance revenue and operational efficiency.
Major companies in the cloud OSS BSS market are driving revenue growth through the introduction of innovative products, such as intelligent OSS BSS platforms. These platforms, like the one launched by ETI Software Solutions Inc. in May 2023, are comprehensive solutions used in the telecommunications industry. The intelligent OSS/BSS platform is cloud-based, leveraging artificial intelligence and cloud-native technologies to provide actionable analytics. This platform is designed to help broadband providers deliver an optimal customer experience while simplifying network and system complexity.
In the realm of acquisitions, Kubeshop, a US-based accelerator for open source, acquired a majority stake in InfraCloud's Kubernetes ChatOps product, BotKube, in July 2022. This strategic acquisition is expected to drive product development and investment in BotKube's expanding user and contributor community. InfraCloud, an India-based cloud infrastructure services company, operates within the cloud OSS BSS market, further emphasizing the industry's commitment to growth and innovation.
Major companies operating in the cloud oss bss market report are Huawei Technologies Co. Ltd., Optiva Inc., International Business Machines Corporation, NetCracker Technology Corp., Nokia Corporation, Amdocs Limited, Oracle Corporation, ZTE Corporation, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Company, MYCOM OSI Ltd., Accenture PLC, Subex Limited, Comviva Technologies Limited, TEOCO Corporation, MDS Global Ltd., Sigma Systems Canada LP (A Hansen Technologies Company), Cerillion PLC, TIBCO Software Inc., Sterlite Technologies Limited, Alepo Technologies Inc., MATRIXX Software Inc., Telarix Inc., DigitalRoute AB, UXP Systems Inc., Viavi Solutions Inc., Aricent Inc., and BearingPoint Holding B.V.
North America was the largest region in the cloud OSS BSS market in 2023. Asia-Pacific is expected to be the fastest-growing region in the cloud OSS BSS market report forecast period. The regions covered in the cloud oss bss market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud oss bss market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cloud OSS market includes revenues earned by entities by providing network inventory, provisioning and activation, service assurance, network management, fault management, monitoring and customer care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.