The cloud OSS BSS market size is expected to advance at a CAGR of 12.0% during 2022–2030, to reach USD 50,762 million by 2030. This can be ascribed to the rising adoption of cloud solutions across different sectors, the increasing deployment of 5G networks, and the surging need for convergent billing systems.
The increased adoption of solutions related to cloud OSS BSS focuses on improving the customer experience, as they provide bundled services. With the rise in complexity of IT infrastructure service options of cloud service providers, these solutions and services are become very popular, as they cater to different requirements such as day-to-day processes, productivity, and overcoming an array of industry challenges in the telecom industry.
Moreover, the role of the telecom industry is expanding in the digital economy and driving digital transformation and innovation. With the next generation of OSS BSS solutions, the telecom industry can deal with its challenges and simplify business workflows.
The solutions category held the largest revenue share in 2022. The need for cloud OSS BSS solutions is deployed by almost every industry domain, as these solutions can help various organizations manage, control, and execute their business operations in an effective manner and support customer-centric and commercial activities in the telecom sector. This solution also helps organizations to secure quality and revenue, and monitor and execute other functions such as product offerings, contracting, and delivery of goods and services. In addition, they help in increasing scalability and developing new revenue streams and opportunities.
The growing opportunities of 5G monetization are a result of user-centric networks with advancements in 5G technology. With the surging usage of modern techniques and devices such as drones, AR-based shopping features, and factory automation, the demand for 5G is increasing exponentially. These devices can be used for monitoring products and asset data in real-time communication and augmented reality applications. For instance, smart factory advancements due to IoT and automated manufacturing are being applied in the manufacturing industry.
To cater to the demands of different sectors, telecom service providers are coming up with automated and secure networks for data transmission. To make data usable, organizations are using computing resources for data processing and making it reusable. With the addition of different technologies such as open-source IT and cloud-native, service providers can make operations work efficiently, which is needed for business models. The 5G and other digital BSS solutions help service providers provide different services to cater to different needs and operations of an organization such as product management. Thus, the rise in the deployment of 5G networks will make new opportunities for players operating in the cloud OSS BSS market.
Several industry players have been involved in various strategic developments to improve their market position. For instance, Vodafone entered into a partnership with Oracle Corporation, in June 2022, to modernize its European IT infrastructure, which results in its quick transition to the cloud. This step provides a dedicated platform so that Vodafone can scale its OSS BSS solutions and modernize its thousands of Oracle databases.
The major cloud OSS BSS market players are AMDOCS LIMITED, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., HEWLETT PACKARD ENTERPRISE COMPANY, International Business Machines Corporation, Netcracker Technology, Nokia Corporation, OPTIVA INC., Oracle Corporation, and ZTE Corporation.