Digital Business Support System Market
Global digital business support system market was valued US$ 2.76 Bn in 2017 and is expected to reach US$ 8.92 Bn by 2026, at a CAGR of 15.79 % during a forecast period.
Digital Business Support System Market
A business support system is also known as an operational support system. Digital term defines electronic technology that generates, stores, and processes data. BSS is a collection of business elements used in networking to help all service providers, including mobile, fixed and cable networks.
BSS activities include:
• Product Management
• Customer Management
• Revenue Management
• Fulfillment Management
• Order Management
• Billing Management
• Rating Management
• Business-To-Business (B2B) Services
• Business-To-Consumer (B2C) Services
The advent of tailored BSS solutions & new marketable models, and growing online transactions & use of multiple mobile devices are boosting the growth of the market. Reduction in cost of business operations, and reduce the usage of resources are also increasing the growth of the global digital business support system market. The dearth of expertise in telecom companies to implement digital BSS solutions are the major challenge of the global digital business support system market. The early adopters of trending technologies such as IoT, big data, DevOps, and mobility are generating enormous opportunities for the growth of the digital business support system market.
Outcome & pull economies, NGOSS Proliferates, Traditional BSS Solutions in the Telecom Vertical are also key opportunities of the market. NGOSS is the Telemanagement forum, which is a business solution framework for creating next-generation OSS & BSS software and systems. However, growing difficulties in business process & with the combination of the traditional & modern business support system are limiting the growth of the market. More time is required for the process and high cost for implementing the system is also hindering the growth of the global digital BSS market.
The digital business support system market by the solution is further segmented into revenue & billing management, customer management, order management, product management, inventory & number management, policy management, and back office process management. The customer management segment is projected to grow at the highest CAGR during the forecast period owing to a CRM system allows industries to manage business relationships & the data and information associated with them.
Managed services include the deployment of clients’ server, networks, software, remote support, and inventory tracking. Managed services are expected to grow at a higher rate in the global digital BSS market owing to the growing number of products & business trade. Managed services play a key role in customer satisfaction and it becomes difficult for the sellers to focus on core business processes & support other multiple functions.
The demand for the associated services is increasing among organizations owing to the growing assumption of cloud-based BSS solutions. Service segment is accounted for the largest market share during the forecast period owing to the services help in reducing costs, growing the overall revenue, and improving the business performance.
In North America, startup culture is growing at a faster rate as compared to the Europe and Asia-Pacific regions. The advent of small, medium & large enterprises and the growing digitization trend in the telecom industry have also supported to account for the largest market size in the North America region during the forecast period.
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Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electroni..