US & Canada, Sept. 19, 2024 (GLOBE NEWSWIRE) — According to a new comprehensive report from The Insight Partners, the continuous product innovations by vendors and growing demand for cloud OSS by Tier 1 communication service providers drives the market.

Global Cloud OSS BSS Market Experiences Significant Growth Due to Growing Demand by Tier 1 Communication Service Providers

The report carries out an in-depth analysis of market trends, key players, and future opportunities. In general, the cloud OSS BSS market comprises a vast array of solution, deployment model, enterprise size, and industry which are expected to register strength during the coming years.

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Overview of Report Findings:

      1.   Market Growth: The cloud OSS BSS market is expected to reach US$ 55.73 billion by 2030 from US$ 19.25 billion in 2022, at a CAGR of 14.2% during the forecast period.

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 2.   By geography, the cloud OSS BSS market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is one of the most technologically advanced regions, owing to the early adoption of technologies, investment of the governments in advancements of technologies, and strong economic growth. Moreover, North America has the most developed telecom markets globally, with a high mobile internet penetration. According to the GSMA Intelligence report, in 2022, the adoption of 5G in the region had skyrocketed and is set to dominate the wireless services sector by 2025. Further, the 5G connections will reach 280 million and account for 64% of all mobile connections in North America by 2025. Thus, the increasing demand for 5G connectivity is expected to boost the market growth in this region.

3.   APAC is growing with the highest CAGR over the forecast period. Growth in the telecom industry in Asia Pacific, coupled with the increase in mobile internet penetration, is propelling the cloud OSS BSS market. Additionally, APAC is the fastest-growing market for communication service providers (CSPs). Moreover, the high internet consumption rate in APAC due to the high volume of mobile and broadband subscribers and users is propelling the market. Furthermore, the region’s demand for 5G is increasing due to the economic recovery post-pandemic, the rise in 5G handset sales, and overall marketing efforts. 5G connections in Asia Pacific are expected to be more than 400 million by 2025.

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Market Segmentation:

• Based on solution, the cloud OSS BSS market is segmented into OSS and BSS. The OSS segment held the largest share in the cloud OSS BSS market in 2022.
• Based on deployment model, the cloud OSS BSS market is public cloud, private cloud, and hybrid cloud. The public cloud segment held the largest share in the cloud OSS BSS market in 2022.
• Based on enterprise size, the cloud OSS BSS market is small and medium enterprises and large enterprises. The public cloud segment held the largest share in the cloud OSS BSS market in 2022.
• In terms of industry, the market is segmented into IT and telecom, BFSI, media and entertainment, healthcare, and others. The IT and telecom segment held the largest share in the cloud OSS BSS market in 2022.

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Competitive Strategy and Development:

• Key Players: A few major companies operating in the cloud OSS BSS market include Amdocs; Oracle Corp; Telefonaktiebolaget LM Ericsson; Hewlett Packard Enterprise Development LP; Huawei Technologies Co Ltd; Axino Solutions GmbH; CSG Systems International Inc; Nokia Corp; Infosys Ltd; and Softelnet SA
• Trending Topics: Artificial Intelligence, Cloud Computing, 5G Networks, Security and Fraud Management and Others.

Global Headlines on Cloud OSS BSS:

• In April 2024, Optiva Inc., a leader in powering the telecom industry with cloud-native billing, charging, and revenue management software on private and public clouds, announced a strategic go-to-market partnership with GDi, a digital technology company with a complete portfolio for network planning, design, and rollout. The partnership is expected to provide communication service providers (CSPs) with pre-integrated and tested BSS and OSS software.

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• In April 2024, Netcracker Technology announced the continued delivery of mission-critical IT functions, applications, and services to Altafiber—the leading supplier of fiber-based services in Greater Cincinnati. Altafiber’s long-standing relationship with Netcracker includes managed and professional services for components of Netcracker Digital BSS and Digital OSS solutions, which support its B2C and B2B customers across Ohio, Kentucky, and Indiana, as well as its subsidiary operations at Hawaiian Telcom.

Conclusion:

The growing demand for cloud OSS by tier 1 communication service providers is a key factor fueling the growth of the cloud OSS BSS market. Cloud OSS are used for multiple applications due to their heterogeneous technology and vendor landscape. These solutions offer an efficient and easy way for resource sharing, automation, and monitoring. Using cloud OSS solutions, CSPs simplify software upgrade procedures, thus reducing the cost considerably by ensuring near-zero downtime during the upgrade. Cloud OSS benefits Tier 1 CSPs by providing elasticity to handle burst traffic scenarios without any upfront investment. In addition, it enables them to automate server configurations, along with assisting them in monitoring server usage to improve efficiency. Cloud OSS also helps improve operational agility. New software versions can be easily deployed on virtual machines (VM), keeping the native hardware in place. After testing the software, the network load can be redirected to the new VMs. The cloud OSS solution also provides a faster time-to-market for new services as new capabilities can be easily scaled up or down on demand. Furthermore, cloud OSS solutions provide Tier 1 CSPs with big data solutions and analytics.

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The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system integrator, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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