The cloud OSS BSS market is set to grow at a CAGR of 12% by the end of this decade, to touch USD 50,762 million by 2030. This is as a result of the increasing requirement for reducing CAPEX, the growing demand for convergent billing systems, the rising disposition of RMSs, and the growing acceptance of 5G technology.
Expansions in 5G technology support in the automation of industrial operations with MTC as well as mobile broadband ability. Moreover, with the disposition of 5G, the virtualization of network functionality supports diverse companies and private/public operators for sharing their network functionality and spectrum, leading to low service cost.
Also, 5G offers higher capacity and dependability, reduced energy use, lower latency, and mass device connectivity, therefore offering faster and better BSS and OSS solutions and services. These help in meeting the requirement for 5G enabled space, a key factor in how competently and quickly companies fulfill high needs of clients.
The public cloud category will grow the fastest at 12.6%, in the future. This is due to the fact that public cloud is infinitely scalable as per the requirements of telecom operators, individual enterprises, and government organizations. For this, companies pay the server capacity, needed currently, and if the future requirements for services surge or reduce, application hosting costs will increase or decrease accordingly.
While, requests for server infra are required in advance for an on-premises disposition of OSS solutions. With the use of the public cloud, the resources can be made rapidly obtainable for smooth operations. This also makes faster dispositions of new IT solutions, enabling new services to be applied quickly. For operators, the public cloud is also inexpensive than hosting OSS solutions in their private systems.
North America leads the cloud OSS BSS market. This is due to the existence of major players and the increase in digital businesses and systems.
Furthermore, with the increasing requirement for achieving operational competence and enormous competition amongst service providers, telecom operators are further focused on the mobile broadband data services monetization. This factor drives powers the requirement for cloud OSS BSS solutions in Canada and the U.S.
While, APAC will have a considerable demand for these solutions, with the increase in the count of telecom service users, particularly in China and India, also the key markets for mobile phones.
Furthermore, cloud-based OSS BSS solutions support operators for providing a better experience to the customers and to look beyond connectivity, as they offer considerable customer benefits for example augmented conductivity, decreased costs, and automated business procedures.
It is because of the increasing adoption of cloud solutions in different industries, the demand for cloud OSS BSS solutions is on the rise.
SOURCE: P&S Intelligence
