Global Digital Business Support System (BSS) Market Size To Exceed USD 19.72 Billion by 2032 | CAGR of 14.39%
Category: Information & TechnologyGlobal Digital Business Support System (BSS) Market Size To Exceed USD 19.72 Billion by 2032
According to a research report published by Spherical Insights & Consulting, the Global Digital Business Support System (BSS) Market Size is to grow from USD 5.14 Billion in 2022 to USD 19.72 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.39% during the projected period.
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Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Digital Business Support System (BSS) Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution, Services), By Solution (Revenue and billing Management, Customer Management, Order Management, and Product Management, Others), By Enterprise Size (Large Enterprise, SMEs), By End User (Healthcare, Retail & E-Commerce, Media & Entertainment, Manufacturing, Energy & Utilities, BFSI, IT & Telecom, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/digital-business-support-system-bss-market
The parts of a telecommunications company used to transact business with clients are incorporated into the business support system (BSS). digital business support system (BSS) solutions are required to aggregate services, serve dynamic relationships with partner businesses, and effectively support the new business model. As a result, vendors of digital business support systems (BSS) are increasingly embracing advanced technologies such as analytics and business intelligence to create better real-time solutions. The digital business support system (BSS)'s cloud-native architecture enables unprecedented levels of flexibility and scale. With cloud-native architecture, operators can leverage multitenancy in the cloud to improve process consistency while reducing overall development time and cost. As a result, CSPs are heavily deploying digital business support systems (BSS), which will drive global market growth during the forecast period. Furthermore, as new business models emerge, such as service subscriptions and usage-based billing, agile and scalable BSS systems are required. digital business support system (BSS) solutions are well suited for these models due to their built-in flexibility and adaptability. However, smaller organisations face essential implementation and maintenance costs for BSS solutions and services. BSS transformations are normally avoided by telecom companies because overhauling their existing systems can take up to two years. As a result, the growth of the digital business support system (BSS) market is hampered by high installation costs and excessive resource consumption.
COVID 19 Impact
The COVID-19 pandemic was beneficial to the digital BSS market. As a result of the increase in remote work and online activities, there is a greater demand for digital BSS solutions to manage customer interactions and billing remotely. Telecommunications companies, for example, are seeing a significant increase in data usage, necessitating the need for more efficient billing and customer management systems.
The solution management segment dominates the market with the largest revenue share through the forecast period
Based on the component, the global digital business support system (BSS) market is segmented into solutions, and services. Among these, the solution segment is dominating the market with the largest revenue share over the forecast period. The telecom industry's growing need for digital transformation, which enables providers to enhance customer experiences, optimise operations, and adjust to a rapidly evolving technological environment, is responsible for the segment's growth.
The customer management segment is witnessing significant CAGR growth over the estimation period.
Based on the solution, the global digital business support system (BSS) market is segmented into revenue and billing management, customer management, order management, product management and others. Among these, the customer management segment is witnessing significant growth over the estimation period. The system can then configure the service, price it based on the operator's cost, provide a quote based on the customer's cost, supply the service, and issue an invoice without the need for human involvement.
The large enterprise segment is expected to hold the largest share of the global Digital Business Support System (BSS) market during the forecast period.
On the basis of large enterprise, the global digital business support system (BSS) market is segmented into large enterprises and SMEs. Among these, the large enterprise segment is expected to hold the largest share of the digital business support system (BSS) market during the forecast period In the upcoming years, it is anticipated that large enterprise businesses will expand significantly in an effort to optimise their operations. During the forecast period, the digital business support system market will expand as technological advances improve their performance.
The BFSI segment accounted for the largest revenue share through the estimation period.
Based on end-user, the global digital business support system (BSS) market is classified into healthcare, retail & e-commerce, media & entertainment, manufacturing, energy & utilities, BFSI, IT& telecom and others. Among these, the BFSI segment accounted for the largest revenue share through the estimation period. The growing use of online financial services and digital banking is driving the industry's demand for sophisticated solutions for customer management, billing, and collection. The adoption of digital business support system (BSS) solutions in the BFSI sector is being driven by artificial intelligence, machine learning, and blockchain.
North America dominates the market with the largest market share over the forecast period.
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North America dominates the market with the largest market share over the forecast period. The region boasts a sizable customer base, an advanced technological infrastructure, and an industry focused on streamlining and improving digital business operations. The market for Business Support Systems (BSS) in the United States and Canada is expected to expand rapidly. These countries have well-established IT and telecommunications sectors, and their contributions to digital innovation are likely to drive up demand for BSS solutions.
Asia Pacific is expected to grow the fastest during the forecast period. Consumers in the region are spending more on online goods and services as a result of having more disposable income, which is driving up demand for these solutions. Furthermore, a number of regional government digital transformation programmes are opening up new markets for Digital Business Support System (BSS) solutions.
Major vendors in the global digital business support system (BSS) market are Nokia Corporation, International Business Machines Corporation, Amdocs Limited, Optiva Inc., Sigma Systems Canada LP., Cerillion Technologies Limited, Huawei Technologies Co. Ltd, LM Ericsson Telephone Company, CSG Systems International, Inc, ZTE Corporation, Sterlite Technologies Limited and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In July 2023, Mavenir, the Network Software Provider transforming connections with cloud-based solutions that run on any cloud, announced today that ENet, Guyana's leading provider of internet, television, and ICT solutions, has launched 4G and 5G voice and billing services across the country.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global digital business support system (BSS) market based on the below-mentioned segments:
Digital Business Support System (BSS) Market, Component Analysis
- Solution
- Services
Digital Business Support System (BSS) Market, Solution Analysis
- Revenue and billing Management
- Customer Management
- Order Management
- Product Management
- Others
Digital Business Support System (BSS) Market, Enterprise Size Analysis
- Large Enterprise
- SMEs
Digital Business Support System (BSS) Market, End-User Analysis
- Healthcare
- Retail & E-Commerce
- Media & Entertainment
- Manufacturing
- Energy & Utilities
- BFSI
- IT & Telecom
- Others
Digital Business Support System (BSS) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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