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Digital BSS Market Projected to Discern Stable Expansion During 2021-2031
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A significant distinguishing factor in several organizations and industries, customer care offerings are increasingly being used by various major players and corporations around the world to offer positive customer experience and attract new consumers. Increase in the demand for customer care services is one of the key drivers for the growth of the global digital BSS market.
As per the latest professional survey report by the Transparency Market Research, the global digital BSS market is anticipated to reach the evaluation of US$ 9.6 billion at the end of the forecast period 2021 to 2031, i.e. 2031. It also predicts that the global digital BSS market will exhibit excellent growth rate i.e. 11.9 % during the forecast period. Rising adoption of the SaaS based digital BSS in the global healthcare sector is also likely to work out favorably for the future of digital BSS industry.
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Rising Adoption of Convergent Billing Systems to Positively Affect the Future of Digital BSS Industry
The solutions offered by the players in the global digital BSS market are customer management, product management, revenue and billing management, sales management, and partner management. Services offered by the players in the global digital BSS market include managed services and professional services, including license and maintenance, consulting and implementation, and training and education. Increase in the implementation of convergent billing systems is anticipated to favor the expansion of the global digital BSS market in coming years. Convergent billing can offer a client with a structured view of every services, both prepaid and postpaid, that has been availed by the client.
Solutions in the global digital BSS market are deployed through private cloud, hybrid cloud, and public cloud. These solutions in the global digital BSS market are utilized by both large enterprises as well as small and medium sized enterprises. Some of the key end use industry verticals using the products and solutions in the global digital BSS market include IT, BFSI, utility, government, health care, media and entertainment, and communication, including MVNE, Internet of Things or IoT, broadband and cable operators, MVNO, and telecom, among others. Major regions in the global digital BSS market include Europe, Middle East and Africa, North America, South America, and Asia Pacific.
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Development of Compact & Low Cost Devices Creates New Opportunities in Digital BSS Market
Few of the most notable players and vendors functional within the global digital BSS market include BearingPoint, Cerillion, Comviva Technologies Limited, Telefonaktiebolaget LM Ericsson, IBM Corporation, MDS Global, Nokia Corporation, Oracle Corporation, Stl. Tech, ZTE Corporation, Amdocs Ltd., Capgemini SE, Comarch SA, CGS Systems International, Inc., Huawei Technologies Co., ltd., Infosys Limited, NetCracker Technology Corporation, Optiva, Inc., Sigma Software, and Tata Consultancy Services Ltd., among others. Leading players in the global digital BSS market are engaged in developing compact and cost effective digital BSS devices in a bid to attract new customers. Trend trend is anticipated to work favorably for the future of digital BSS industry in coming years.
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Some other essential strategies undertaken by the industry players that will positively impact the future of digital BSS market in coming years include mergers and acquisitions as well as strategic collaborations with various technology providers and developers. For example, an international telecommunications player, Ooredoo Group and Telefonakteibolaget LM Ericsson entered into a strategic partnership in October of 2021. This move will help Telefonaktiebolaget LM Ericsson to offer transformation in terms of digital BSS services and solutions. An IT service management organization, Neos Networks collaborated with Cerillion in September of 2021 in order to offer their consumers end to end cloud digital BSS platform.
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