Published on : Aug 08, 2017
Albany, New York, August 08, 2017: The global OSS BSS software market will witness an expansion at 15% CAGR from 2017 to 2021. As per the report, the heightened increase in the adoption rates of cloud based business support systems (BSS) is a key factor that will drive the growth of the market. Communication service providers across the globe are providing converged communication technology with cloud based services to clients and this will help fuel the growth of the OSS and BSS software market. Communication service providers are providing SMEs with cloud based BSS model so as to enable better resource management as this model offers scalable IT infrastructure and business agility. The cloud-based model prevents complications relating to license management, installation of hardware, among others.
Leading telecom operators are outsourcing service functionalities to multiple vendors for reduction of operational expenses. Services such as management, operations, maintenance, network operations, and infrastructure are being outsourced increasingly. The OSS BSS software is used extensively for this purpose. One of the chief drivers of this market is the outsourcing of the OSS BSS development and design to managed service providers. The global OSS BSS software market is fragmented and is characterized by the presence of many large and small players, both. The market is therefore competitive. Vendors are concentrating on the improvement of the overall customer experience. Players are also investing their time in research and development so as to come up with innovation so as to combat the threat of new entrants.
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The global OSS BSS software market is facing a few challenges. One of them is the lack of in-house expertise. The increasing complexity of these services on account of the addition of various new and sophisticated features will pose a challenge for the growth of the market. The need to integrate with various telecom services is another hurdle. There is a need for skilled and trained workforce which is not easy to find.
On the basis of geography, the global OSS BSS software market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Of these, North America will lead in the market as many companies in the Americas are making use of OSS software in order to focus on their core business goals and boost their performance.
The top vendors in the global OSS BSS software industry are: Aria Systems, AMDOCS, Cerillion, Ericsson, Comptel, Huawei Technologies, CSG International, Netcracker Technology Corporation, Redknee, Subex, Hitachi Data Systems, Accenture, SAP, Sigma Systems, Comarch, Hewlett Packard Enterprise Development, elitecore.com, Global Convergence Solutions, Oracle, and Wipro. The strategies adopted by key players to gain shares in the market and earn profits have been revealed in this report.
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