PUBLISHER: The Business Research Company | PRODUCT CODE: 1484768
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484768
Digital business support systems (BSS) encompass a comprehensive array of software applications and platforms tailored for telecommunications and digital service providers. These systems are integral for efficiently managing various aspects of their business operations and customer interactions. Key functionalities within BSS include customer relationship management (CRM), billing and revenue management, order processing, product catalog management, and the provision of self-service portals.
In the realm of digital business support systems (BSS), two primary components prevail: solutions and services. Solutions encompass a diverse array of deployments, ranging from public cloud to private cloud and hybrid cloud setups. They cater to enterprises of varying sizes, including small and medium-sized enterprises (SMEs) and large enterprises, across a multitude of industries. These industries span sectors such as banking, financial services, and insurance (BFSI), information technology (IT) and information technology-enabled services (ITES), telecommunications, retail and e-commerce, media and entertainment, manufacturing, energy and utilities, among others.
The digital business support systems (BSS) market research report is one of a series of new reports from The Business Research Company that provides digital business support systems (BSS) market statistics, including digital business support systems (BSS) industry global market size, regional shares, competitors with a digital business support systems (BSS) market share, detailed digital business support systems (BSS) market segments, market trends and opportunities, and any further data you may need to thrive in the digital business support systems (BSS) industry. This digital business support systems (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 digital business support system (BSS) market size has grown rapidly in recent years. It will grow from $5.91 billion in 2023 to $6.99 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The expansion witnessed during the historical period can be largely attributed to several factors, including the burgeoning telecommunications industry, the surge in e-commerce activities, and the escalating threat of cyber-attacks. Moreover, the steady increase in global internet penetration rates and the widespread adoption of smartphones and other mobile devices have also played pivotal roles in driving this growth trajectory.
The digital business support system (BSS) market size is expected to see rapid growth in the next few years. It will grow to $18.7 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. Anticipated growth in the forecast period is expected to stem from various factors, notably the escalating demand for personalized customer interactions and the widespread adoption of digital banking services.
The acceleration of cloud computing adoption is anticipated to drive significant growth in the digital business support system (BSS) market. Cloud computing delivers on-demand computing services such as storage and infrastructure via the internet, providing benefits such as cost-efficiency, scalability, and agility. Digital BSS is crucial for cloud platforms as it manages tasks including customer relationship management, service delivery, billing accuracy, customer support, and business analytics. In September 2022, AAG IT Support Service reported findings from a global survey of 753 technical and business professionals, indicating that 63% of the respondents were heavily utilizing cloud services, an increase from 59% in 2021 and 53% in 2020. This underscores the growing demand for digital business support system (BSS) market.
Leading enterprises in the digital business support system (BSS) sector are innovating and developing SaaS-based solutions to enhance their product offerings and meet the changing needs of the telecommunications industry. SaaS-based BSS solutions are cloud-based platforms designed to offer scalable and comprehensive management of operational and customer-facing functions for telecom and digital service providers. For example, in September 2023, Canada's Optiva Inc. introduced Optiva MVNO Hubs on Google Cloud, a full BSS-as-a-service solution tailored for mobile virtual network operators (MVNOs). This solution features key integrations such as payment gateways, taxation services, customer care, CRM ticketing, and dealer portals, which support quick onboarding and streamline dealer channel management. This platform also focuses on enabling nascent MVNOs to swiftly launch customized offerings for diverse consumer and business markets, aiming to speed up revenue generation and provide expert telecom industry guidance throughout the MVNO lifecycle.
In June 2023, in a strategic move to bolster its IT management and automation offerings, International Business Machines Corporation (IBM), a leader in global technology, acquired Apptio Inc. for approximately $4.6 billion. The acquisition is aimed at enhancing IBM's capabilities in managing hybrid cloud environments by integrating AI and data analytics. Apptio Inc., a developer of technology-based business management software, including digital BSS solutions, is expected to complement IBM's portfolio, enabling it to offer enhanced value to enterprise clients navigating the complexities of hybrid cloud technologies.
Major companies operating in the digital business support systems (BSS) market are Huawei Technologies Co. Ltd., Accenture plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson, Nokia Corporation, Capgemini SE, ZTE Corporation, Infosys Limited, VMware LLC, NetApp Inc, Amdocs Limited, Netcracker Technology Corporation, CSG Systems International Inc, BearingPoint//Beyond, Sterlite Technologies Ltd, Comviva Technologies Limited, Comarch SA, Hansen Technologies Corp, Tecnotree Corporation, MDS Global, Optiva Inc., Subex Limited, Cerillion Technologies, MIND CTI Ltd, Qvantel, MATRIXX Software Inc, Suntech S.A.
North America was the largest region in the digital business support system (BSS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital business support systems (BSS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the digital business support systems (BSS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital business support system (BSS) market includes revenues earned by entities by providing services such as customer interactions, customer support, personalized marketing campaigns, order processing, provisioning, fulfillment, billing and revenue management, analytics and reporting, and workflow automation. 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.
Digital Business Support Systems (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 digital business support systems (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 digital business support systems (BSS) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The digital business support systems (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 impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.