The OSS and BSS market is expected to touch $58.41 billion by 2025, according to a new study by Grand View Research.

Telecom operators are making investment in the next generation OSS and BSS solutions because innovation in this area has the potential to ensure the transformation of the business processes of the Communication Service Providers (CSP) — aimed at automation process while delivering better services.

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Telecom engineers would like to select and ensure the deployment of the best OSS BSS solutions from technology vendors because they are aimed at transforming the traditional network into software programmable domains running on simplified, lower cost hardware, resulting in driving the convergence of IT and telecom sector.

The mobile segment dominated the next generation OSS and BSS market valued at $10.02 billion in 2016. The revenue management segment will continue its dominance to reach at $16.12 billion by 2025. The customer management will achieve the highest CAGR of 10.3 percent.

The telecom research report said Asia Pacific will be the fastest growing region for the next generation OSS and BSS market, growing at a CAGR of 9.5 percent due to growth in 4G network.

Main OSS BSS technology companies are Amdocs, CSG System International, and Hewlett Packard Enterprise (HPE), Accenture, Capgemini, among others.