Cloud native OSS and BSS built on micro applications provides the necessary agility to create innovative, personalized customer experiences that would result in higher customer retention and improve revenues.
2. The global cloud oss bss market was valued at $24.0 billion in 2021,
and is projected to reach $68.5 billion by 2031, growing at a CAGR
of 11.3% from 2022 to 2031.
Cloud native OSS and BSS built on micro applications provides the necessary agility to
create innovative, personalized customer experiences that would result in higher customer
retention and improve revenues.
BSS primarily consists of order capture, customer relationship management, and
telecommunications billing, whereas OSS covers order management, network inventory
management, and network operations.
3. Impact of Covid-19
1
2
Organizations adopted "work from home" or remote working
culture due to lockdown restrictions put by governments of many
countries. This led to adoption of cloud OSS BSS, which, in turn,
raised investments and reliance on OSS BSS services and
solutions.
The demand from various industry verticals such as IT &
telecom, BFSI, retail, and others increased considerably to avail
benefits of integrating different service charges into a single
invoice. This consolidated the demand for convergent billing
tools and cloud-native OSS BSS solutions.
4. Top Impacting Factors
Increase in
adoption of tailored
cloud OSS BSS
solutions
Surge in
adoption of
5G
Reduced energy
usage and mass
connectivity for
devices
Increase in
demand for
convergent billing
systems
1 2 3 4
5. Segmentation By Region
North America U.S., Canada
Europe U.K., Germany, France, Spain, Italy, Rest of Europe
Asia-Pacific
China, Japan, South Korea, India, Australia, Rest of
Asia-Pacific
LAMEA Latin America, Middle East, Africa
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