OSS BSS software spending by telecoms to reach $62 billion

OSS BSS software market for telecom
The OSS BSS software market
– prepared by research agency Technavio — will grow at a CAGR of around 15 percent to $62.08 billion by 2021.

Growing adoption of cloud-based business support systems (BSS) is one of the main growth factors for this market.

OSS BSS innovation

OSS BSS providers are bringing innovation to their convergent charging software. Telecom network infrastructure providers are also entering the market resulting into tough competition in the global OSS BSS market.

OSS and BSS software providers make investment to bring out innovative OSS and BSS solutions as well as platforms to address the complex set of services. Telecoms are investing in OSS BSS platforms in order to improve customer experience.

“OSS BSS technology vendors are developing innovations including updated solutions for cloud-based solutions, SaaS, and network provisioning delivery. Demand for convergent charging software has changed the dynamics of the market with new vendors entering the market because of its immense growth potential,” said Rohan Joy Thomas, lead analyst at Technavio for enterprise application research.

Improvement in customer experience by enhancing quality of network and billing services is the main focus area for telecom operators.

Communication service providers (CSPs) are also increasingly preferring SMEs to boost their business and are providing converged communications technology suites coupled with cloud-based services to its clients.

CSPs provide a cloud-based BSS model to SMEs to ensure better manageability of resources as the model delivers business agility and a scalable IT infrastructure. The cloud-based model is capable of overcoming the complexities involve in installing hardware, license management, and software.

Amdocs, Ericsson, Huawei Technologies, Netcracker Technology and Redknee are some of the top OSS BSS companies in the world.

Accenture, Aria Systems, Cerillion, Comarch, Comptel, CSG International, Elitecore / Sterlite, Global Convergence Solutions, Hewlett Packard Enterprise, Hitachi Data Systems, Oracle, SAP, Sigma Systems, Subex and Wipro are some of other OSS BSS companies.