Global Asia Pacific & Global OSS/BSS Market is Estimated to Account for US$ 228.3 Mn by End of 2028, Says Coherent Market Insights (CMI)
OSS/BSS, generally, refers to the business service system and internal telecommunications system. The difference highlights a clear separation of organizational concerns on the one hand while maintaining network operations well. Such a division of concern enables BSC (business process modeling) to be implemented quickly and with minimal cost. For instance, a large corporate might use its BSC to run its day-to-day operations and manage its internal network infrastructure. OSS/BSS facilitates the development of business processes by bringing together technical experts from different disciplines. At the same time, OSS/BSS provides business processes with a common language so that they can communicate more easily with each other.
The global Asia Pacific & Global OSS/BSS market is estimated to account for US$ 228.3 Mn by the end of 2028.
The increasing adoption of convergent billing systems is primarily fuelling the growth of the Asia Pacific & Global OSS/BSS market. Growing investment in the telecommunication sector for improving facilities is again fostering the growth of the Asia Pacific & Global OSS/BSS market. Increasing establishment of convergent charging as this system offers various benefits such as ease of implementation, centralize customer support, and increased customer service is further projected to foster the growth of the market.
Rapid growth in the telecommunication sector across the Asia Pacific region is estimated to augment the growth of the Asia Pacific & Global OSS/BSS market. According to the India Brand Equity Foundation, India ranks as the world's second-largest market in terms of total internet users. The number of internet subscribers in the country increased at a CAGR of 21.36% from FY16 to FY20 to reach 743.19 million in FY20. Total wireless data usage in India grew 11.01% quarterly to reach 25,36,679 TB in Q1FY21.
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Rapid urbanization across the Asia Pacific region is projected to bring profitable growth opportunities in the Asia Pacific & Global OSS/BSS. According to the United Nation, Asia-Pacific is now dominantly urban - more than half the region's population in 2019 live in cities and towns. The region's urban population exceeded 2.3 billion, comprising 54 percent of all urbanites on the planet. The region's number of urban dwellers is expected to rise to more than 2.8 billion in 2030 and reach nearly 3.5 billion in 2050. The decline in the price of handheld devices such as smartphones and tablets is further anticipated to foster the growth of the market.
The introduction of NGOSS network is expected to present bright opportunities for the Asia Pacific & Global OSS/BSS market. This system helps in tackle security issues and also enhances data accuracy. Moreover, the adoption of cloud technologies is also expected to offer potential business opportunities in the near future. Cloud solutions offer a wide range of advantages such as data security, scalability, efficiency, improve control, and disaster recovery.
The growing focus of key players to introduce an innovative product is one of the emerging trends in the market and this is expected to foster the growth of the Asia Pacific & Global OSS/BSS market. For instance, in May 2019, Oracle (News - Alert) has developed the Oracle Enterprise Catalog for Communications, as part of the Oracle Digital Experience for Communications solution. Oracle Enterprise Catalog for Communications helps CSPs simplify and streamline offer introduction across sales, eCommerce, ordering, fulfillment, and billing.
Growing adoption of business strategies such as mergers and acquisitions for improving telecom networks is another key trend observed in the market. For instance, in October 2018, Telarix, the global provider of Interconnect Business Optimization solutions for the international voice and SMS markets, announced its merger with Starhome (News - Alert) Mach, the global provider of SaaS wholesale and retail roaming, clearing, settlement, and fraud prevention solutions.
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Key players operating in the Asia Pacific & global OSS/BSS market are Amdocs, Accenture, IBM Corporation, Hewlett Packard Company, Oracle Corporation, Telefonaktiebolaget LM Ericsson, and Nokia Siemens (News - Alert) Networks.
The Asia Pacific & Global OSS/BSS Market, By Region:
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