OSS/BSS Market - By Solution (OSS, BSS), By Deployment Model (On-premises, Cloud), By Enterprise Size (SMEs, Large Enterprises), By Application (IT & Telecommunications, BFSI, Media & Entertainment, Others), Forecast 2023 - 2032

OSS/BSS Market - By Solution (OSS, BSS), By Deployment Model (On-premises, Cloud), By Enterprise Size (SMEs, Large Enterprises), By Application (IT & Telecommunications, BFSI, Media & Entertainment, Others), Forecast 2023 - 2032

Global OSS/BSS Market will witness over 14% CAGR between 2023 and 2032. The industry growth is fueled by the rising adoption of OSS/BSS platforms in digitalizing and streamlining customer experiences. For instance, in July 2023, MTN Sudan implemented Skyvera's cutting-edge cloud-native digital BSS/OSS solutions, marking a significant milestone in their digital transformation journey. By leveraging Skyvera's cloud-native portfolio, MTN Sudan, a prominent mobile operator in Sudan, has successfully addressed over 85% of its business needs with out-of-the-box features. This strategic move aligns with MTN Sudan's Ambition 2025 strategy, which focuses on complete digitalization and expanding its customer base as more people in the country connect online for the first time.

As businesses aim to enhance operational efficiency and customer satisfaction, OSS/BSS solutions provide the necessary tools to manage complex telecommunications and digital services. They offer a comprehensive approach to service delivery, billing, and customer support, making them crucial in the modern digital landscape. Therefore, this rising adoption supports the OSS/BSS market growth.

The overall OSS/BSS Market is classified based on enterprise size, application, and region.

SMEs segment will undergo significant development from 2023 to 2032. SMEs recognize the significance of efficient operational and customer management systems. OSS/BSS solutions offer cost-effective and scalable tools to streamline operations, enhance customer experiences, and remain competitive in the digital era. This surge in OSS/BSS market demand justifies the vital role these systems play in empowering SMEs to thrive in today's business landscape.

BFSI segment will register a notable CAGR from 2023 to 2032. This surge is driven by the BFSI industry's need to modernize and optimize its operations. OSS/BSS solutions provide essential capabilities for managing complex financial transactions, ensuring data security, and improving customer experiences. As the BFSI sector adapts to the digital age, the OSS/BSS market outlook continues to grow, underlining its pivotal role.

Europe OSS/BSS market will showcase an appreciable CAGR from 2023 to 2032. With the proliferation of 5G, IoT, and increasing competition, European service providers seek OSS/BSS solutions to enhance network management, customer service, and operational efficiency. The demand is further fueled by regulatory requirements and growing customer expectations, making OSS/BSS systems a critical component for telecom and digital service providers in Europe.

Additionally, the rising number of events and summits focussing on OSS/BSS systems in the region also support the market. For instance, Ericsson, a leading telecommunication company, officially unveiled the Ericsson 2023 OSS/BSS Summit, scheduled to take place in Madrid, Spain, on November 14th and 15th, 2023. This event combines the Ericsson BSS User Group and OSS Summit, catering exclusively to Communication Service Providers (CSPs), telecom industry media, and analysts.