Global Cloud OSS BSS market growth 2024, Forecast To 2033
1 Mar, 2024
The cloud OSS BSS market size has grown rapidly in recent years. It will grow from $24.22 billion in 2023 to$27.09 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to telecom network evolution, increasing subscriber base, market competition and innovation, demand for real-time data, globalization of telecom operations, focus on customer experience, data privacy and compliance. The cloud OSS BSS market size is expected to see rapid growth in the next few years. It will grow to $44.11 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to cybersecurity concerns, digital transformation initiatives, subscription-based business models, telecom network convergence, focus on operational efficiency, regulatory support for telecom innovations. Major trends in the forecast period include migration to cloud-based solutions, integration of AI and machine learning, 5G network rollouts, security and compliance, service orchestration and automation, hybrid and multi-cloud deployments, customer experience management.
Global Cloud OSS BSS Market Key Driver
The increase in 5G adoption is expected to propel the growth of the cloud OSS BSS market going forward. The fifth-generation mobile network (or 5G) is a wireless technology aimed to give more users with higher peak data rates of multiple gigabits per second (Gbps), extremely low latency, better stability, massive network capacity, and a more consistent user experience. Service providers can offer a variety of use cases due to 5G, which necessitates automation of the OSS/BSS infrastructure from both the front-end and back-end. For instance, in December 2021, according to the statistics published by 5GAmericas, a US-based industry trade organization, 5G connections in North America reached 72 million in 2021. Therefore, increasing 5G adoption is driving the growth of the cloud OSS BSS market. The 2023 market size for cloud OSS BSS reflects the rapid adoption of 5G technology, with forecasts for 2024 and 2028 indicating sustained growth driven by the expansion of telecommunications networks and the deployment of advanced network management solutions.
Get A Free Sample Of The Global Cloud OSS BSS Market ReportGlobal Cloud OSS BSS Market Segments
The global cloud oss bss market covered in this report is segmented –
1) By Component: Solution, Services
2) By Cloud Type: Public Cloud, Private Cloud, Hybrid Cloud
3) By Operator Type: Mobile Operator, Fixed Operator
4) By Organization Size: Large enterprises, SMEs
5) By Industry Vertical: IT and Telecom, BFSI, Media and Entertainment, Retail and E Commerce, Other Industrial Verticals
By Geography: The regions covered in the cloud oss bss market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the cloud OSS BSS market in 2023. Asia-Pacific is expected to be the fastest-growing region in the cloud OSS BSS market report forecast period. The regions covered in the cloud oss bss market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cloud OSS BSS Industry Players
Huawei Technologies Co. Ltd., Optiva Inc., International Business Machines Corporation, NetCracker Technology Corp., Nokia Corporation, Amdocs Limited, Oracle Corporation, ZTE Corporation, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Company, MYCOM OSI Ltd., Accenture PLC, Subex Limited, Comviva Technologies Limited, TEOCO Corporation, MDS Global Ltd., Sigma Systems Canada LP (A Hansen Technologies Company), Cerillion PLC, TIBCO Software Inc., Sterlite Technologies Limited, Alepo Technologies Inc., MATRIXX Software Inc., Telarix Inc., DigitalRoute AB, UXP Systems Inc., Viavi Solutions Inc., Aricent Inc., BearingPoint Holding B.V.
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Cloud OSS BSS Market Overview
The cloud OSS refers to the software that is typically utilized by businesses to control their operating systems or communication networks. Communications service providers use it to supervise, control, evaluate, and manage a computer or telephone network system. The cloud OSS is typically employed by businesses to handle all business operations, including processing and financial concerns.
Cloud OSS BSS Global Market Report 2023 provides data on the global cloud oss bss market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cloud oss bss market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.