- A recent study by Grand View Research, Inc. notes that the worldwide next generation network OSSBSS market will grow at a CAGR of 12% from 2015 to 2022. Next generation network offers exceptional end-user experience. It ensures customer-satisfaction and is loyal. The integration of next generation network with new IP-based frameworks and emerging applications attract telecommunication service providers.
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Widespread use of mobile technology demands telecommunication networks to be more agile, scalable, and diversified. Supporting services like cloud and M2M – Machine-to-Machine are contributing higher demand for advanced technology. This will drive market growth.
An important phenomenon altering the telecommunications network ecosystem is the advent of 5G network technology. 5G will open new prospects for the market. These include ultra-high speed, remote controlled machinery, and on-demand data services. However, 5G’s complexity would need a well-structured OSSBSS software platform. This is predicted to fuel the next generation network OSSBSS market.
Tools like OSS – Operations Support Systems and BSS – Business Support Systems allow telecom service providers to differentiate their offerings and gain competitive edge. This also improves profitability. Rising demand for a wide array of telecommunication services, faster market time, and high-quality offerings will escalate market sales.
Integration of these advanced systems with legacy ones will prove challenging for market players. Optimization of platforms, processes, and systems is a highly complex activity. Furthermore, regulatory issues may also restrict the next generation network OSSBSS market from expanding.
In the report, OSS is split into service fulfillment, service assurance, and network monitoring & design. Service fulfillment and service assurance will witness maximum demand in the forthcoming years. BSS is sub-divided into product management, order management, customer management, and revenue management.
Customer management will be the leading BSS segment in the years ahead. Asia Pacific is highly populated and home to a rapidly-growing telecommunications industry. This is ideal for the propagation of next generation network OSSBSS services. Therefore, Asian Pacific will remain a key region over the next seven years. Latin America and Middle East will also generate ample demand.
Leading players in the next generation network OSSBSS market are Cisco Systems, Inc., AT&T Inc., Hewlett-Packard Company, Cerillion, Elitecore Technologies, Comptel Corporation, Amdocs, and Alcatel Lucent S.A. Other participants include IBM Corporation, Tata Consultancy Services Limited, LohNet Systems, Mycom, WebNMS, Oracle Corporation, ZTE Corporation, and OpenCloud.
Information Source: Grand View Research
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