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Digital BSS Market to Register High Revenue Growth During 2021-2031 | TMR Study

Digital BSS Market

Digital BSS Market

Digital BSS Market is projected to exceed the value of US$ 9.6 Bn by 2031, expanding at a CAGR of 11.9% during the forecast period

ALBANY , NY, US, January 21, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global digital BSS market. In terms of revenue, the global digital BSS market is estimated to expand at a CAGR of 11.9% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global digital BSS market.

A digital BSS provides modern, flexible, and convergent systems in a virtualized network environment, allowing customer service points to automate business and establish differentiated services. The digital BSS also permits the operator to provide 5G opportunities through the latest and advanced 5G use cases. A BSS revolution helps to improve fixed and wireless networks, and since a digital BSS is integrated, it can be deployed in phases, mitigating migration risks. The BSS portfolio of an organization is designed to assist with low-risk but effective evolution to the digital world that is being built with IoT and 5G. These technology solutions are pre-integrated and catalog-driven such as analytics, self-care, OSS & core, and even supports available standards for integration with several other vendors. The digital BSS delivers a single convergent platform for effective revenue management through digitization and process automation. Customer service points can provide personalized and innovative offerings and boost CX with customer lifecycle management, streamlined sales, advanced partnerships, omnichannel customer support, enterprise service, inventory management, etc. This, in turn, is expected to drive the digital BSS market.

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Organizations in the IT industry are using SaaS digital BSS for several reasons, such as it reduces the cost and provides security & compliance. SaaS digital BSS is likely to take over the cloud computing segment during the forecast period. New technologies and versions are entering the SaaS-based digital BSS market.

Impact of Coronavirus Pandemic on Digital BSS Market

Rapidly spreading coronavirus, shutting down businesses, and lockdowns negatively affected almost every industry during the first wave of the COVID-19. It has affected the telecommunication sector strongly. With sudden change in work environment and work from homes routines, companies in the digital BSS market built up productive solutions within a few months. With digitalization, transformation in BSS, creating personalized experience for customers, and providing cloud-based solutions, market players are paving the way for the growth of the digital BSS market. Due to innovative technological trends in digital transformation, cloud services, billing management, digital CRM, and fastest delivery and management of communications services, digital BSS market is booming.

Digital BSS Market: Dynamics

Digital BSS also plays a significant role in supporting customer service points (CSPs) gain a large number of subscribers. It provides core services such as voice, data, and mobile commerce, ensuring the timely availability of these services to enhance user experience. Additionally, digital BSS provides insight into user preferences to provide customized solutions suited to their needs. Digital BSS helps to increase revenues for small and medium enterprises due to the availability of flexible billing and charging systems.

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This is expected to fuel the digital BSS market.

Companies are working on retaining their existing customer base and attracting a large number of new users. Maintaining strong customer relationships is a critical factor for revenue generation. Complete access to billing details along with the shortest time to market and turnaround time to handle users’ issues is essential to ensure customer loyalty. A few factors affecting customers such as brand value, number of services offered, QoS (Quality of Service), and resolution of issues are further driving the digital BSS market.

The digital BSS offers a host of benefits for service providers to manage their network and business; the changing competitive landscape has led to service providers updating legacy systems. However, this requires significant upgrades to existing technology. CSPs aim to achieve predefined revenue targets while ensuring operation costs and associated expenses are kept at a minimum. This presents a barrier to market growth and profitability for participants since the integration of new services with the current infrastructure is a cost-intensive and tedious activity. In addition, vendors collaborating with different digital BSS providers face compatibility issues in terms of data synchronization to obtain a singular view of the user.

In October 2020, Infosys Limited acquired Blue Acorn iCi, a digital customer experience, commerce, and analytics company, to strengthen its end-to-end customer experience offerings and to help clients navigate their digital transformation journey.

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Digital BSS Market: Prominent Regions

North America has significant impact on the digital BSS market. North America is expected to hold a major share of the global digital BSS market by the end of 2021. This can be attributed to the rise in adoption of digital BSS solutions among end users. The U.S. holds more than half the share of the digital BSS market.

However, the digital BSS market in Asia Pacific is expected to expand at a robust pace during the forecast period. Rise in the number of small and medium software enterprises in Asia Pacific is fuelling the demand for digital BSS solutions to reduce costs and improve return on investment (ROI).

Digital BSS Market: Key Players

Key players operating in the global digital BSS market are Accenture Plc, Amdocs Ltd., BearingPoint, Capgemini SE, Cerillion, Comarch SA, Comviva Technologies Limited, CSG Systems International, Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., IBM Corporation, Infosys Limited, MDS Global, NetCracker Technology Corporation, Nokia Corporation, Optiva, Inc., Oracle Corporation, Sigma Software, Stl.tech, Tata Consultancy Services Ltd., and ZTE Corporation.

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TMR
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