Cloud OSS BSS Market By Component (Solution, Service), By Enterprise Size (Large Enterprises, SMEs), By Cloud Type (Public, Hybrid, Private), By Industry Vertical (IT and Telecom, BFSI, Media and Entertainment, Retail and E Commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Cloud OSS BSS Market

The global cloud oss bss market was valued at $24.0 billion in 2021, and is projected to reach $68.5 billion by 2031, growing at a CAGR of 11.3% from 2022 to 2031.

During the COVID-19 epidemic, the cloud OSS BSS industry saw a boom in new investments, as well as a greater reliance on cloud. The epidemic presented a huge opportunity for new entries into the market. In addition, the benefits of integrating different service charges into a single invoice have strengthened the demand for convergent billing tools, notably contributed toward the growth of the market during the pandemic situation.

Cloud native OSS and BSS built on micro applications provides the necessary agility to create innovative, personalized customer experiences that would result in higher customer retention and improve revenues. BSS primarily consists of order capture, customer relationship management, and telecommunications billing, whereas OSS covers order management, network inventory management, and network operations. Furthermore, OSS services delivered over the cloud in a software-as-a-service (SaaS) model that offers small-to-medium sized CSPs a unique combination of technology and business flexibility at a fraction of the cost of traditional licensed software.

Increase in cloud adoption across several industry verticals and increasing 5G adoption to surge the demand for cloud OSS BSS drive the cloud OSS BSS market growth. Moreover, growing demand for convergent billing systems boosting the cloud OSS BSS market size. However, lack of technical proficiency for implementing cloud-native OSS BSS solutions restrict the growth of the cloud OSS BSS market. On the contrary, rise in inclination toward cloud technology and adoption of cloud technologies transforming the telecom industry operator’s is expected to offer remunerative opportunities for expansion of the market during the forecast period.

The cloud oss bss market is segmented into Component, Enterprise Size, Cloud Type and Industry Vertical.

The cloud OSS BSS market is segmented into component, enterprise size, cloud type, industry vertical, and region. On the basis of component, the market is categorized into solutions and service. By enterprise size, it is classified into large enterprises and SMEs. Depending on cloud type, the market is segregated into public, hybrid, and private. As per industry vertical, it is classified into IT & telecom, BFSI, media & entertainment, retail & e-commerce, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in the cloud OSS BSS industry are Amdocs Limited, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Hewlett Packard Enterprise Company, International Business Machines Corporation, Netcracker, Nokia Corporation, Optiva Inc., Oracle Corporation, and ZTE Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

In terms of component, the solutions segment holds the largest cloud OSS BSS market share as, it provides every organization to control, manage, and execute business operations efficiently and support commercial and customer-oriented activities in the telecom sector and become mandatory for communications service providers (CSPs). However, the service segment is expected to grow at the highest rate during the forecast period, as it will ensure high availability, real-time automation, and intelligent service assurance, which is expected to fuel the growth of cloud OSS BSS services in the coming few years.

Region wise, the business process as a service market share was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to the presence of major players that offer advanced solutions and invest heavily in solutions such as 5G, IoT technologies, and billing systems. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to surge in awareness regarding importance of strengthening the overall 5G, IoT technologies, and other technology services to ensure low-cost networking, servers, storage solution, and CSPs in the region.

Increase in adoption of tailored cloud OSS BSS solutions

Rise in adoption of tailored cloud OSS BSS solutions is directly influencing the growth of cloud OSS BSS market. Moreover, increase in demand for convergent billing systems is flourishing the growth of the market. In addition, surge in adoption of cloud technologies for ease of maintenance and software updates are driving the growth of cloud OSS BSS industry. Furthermore, enhancing overall customer experiences with automated services and answering queries more quickly along with lower operational expenses is positively impacting the growth of the market. Moreover, rise in preference for convergent billing systems and increase in use of cloud OSS BSS in the telecom industry are notably contributing toward the growth of the market.

Surge in adoption of 5G

Rise in investment on 5G technology is bringing automation of industrial processes with support of massive/critical machine-type communication (MTC) along with mobile broadband capability. In addition, with 5G, the virtualization of network functionality will help the public/private operators to share their spectrum and network functionality, thereby reducing cost. Moreover, 5G technology is offering 100 times faster connectivity than 4G and 1,000 times more bandwidth. In addition, 5G technology is offering an exponential improvement in functionality far higher capacity and reliability, dramatically lower latency, reduced energy usage and mass connectivity for devices, thus providing faster and better OSS and BSS solutions and services.