Global Digital Business Support System Market Report 2021: Need for Continuous Innovations by Digital BSS Vendors Presents Opportunities - Forecast to 2027
DUBLIN, April 20, 2021 /PRNewswire/ -- The "Digital Business Support System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component, Geography" report has been added to ResearchAndMarkets.com's offering.
Global Digital Business Support System (BSS) market was valued at US$ 3,265.07 million in 2019 and is projected to reach US$ 8,017.18 million by 2027; it is expected to grow at a CAGR of 12.1% from 2020 to 2027.
Shift of Telecommunication Companies Toward Comprehensive Digital Offering to Provide Growth Opportunities for Global Digital Business Support System (BSS) Market
With cloud-native architecture, operators can leverage the cloud's multitenancy characteristics to develop consistency of process and reduce the overall time and cost of development. Global digital business support system (BSS) are, therefore, significantly deployed by CSPs, driving the global market.
Geographically, North America held the largest share of the global digital business support system (BSS) market in 2019, followed by Europe and Asia Pacific.
Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The global digital business support system (BSS) market is segmented into component and geography. Based on component, the market is further bifurcated into solutions and services. The services segment is expected to hold a larger share of the market during the forecast period.
According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Spain, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak.
The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and likely in 2021. The pandemic has positively impacted the telecom businesses and CSPs around the globe.
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Research and Markets
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SOURCE Research and Markets