The Global Digital BSS Market size is expected to reach $16.5 billion by 2030, rising at a market growth of 16.4% CAGR during the forecast period.
The demand for digital BSS solutions in the industry is being driven by the ability of financial institutions to remain competitive, enhance operational efficiency, and provide seamless client experiences in the ever-changing digital landscape. Therefore, the BFSI segment will register 1/5th share in the market by 2030. Customer management, advanced billing, and revenue assurance solutions are required as digital banking & online financial services become more widely used. The BFSI industry is experiencing a rise in data quantities, requiring real-time analytics and individualized customer interactions, both of which are provided by digital BSS.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, ZTE Corporation came into agreement with Telin Timor-Leste, a provider of mobile services under the brand name Telkomcel, to modernize Telin’s virtual core, BSS, and VAS solutions and meet the emerging demand for data services and high-quality voice and digital transformation in Timor-Leste. Additionally, In November, 2022, Amdocs Limited collaborated with Telefonica Hispanoamerica to modernize its business support systems (BSS) and deploy modules of its cloud-native operational support system (OSS) on Telefonica Argentina, Telefonica Chile, and Telefonica Peru's public Cloud.
Based on the Analysis presented in the KBV Cardinal matrix; Accenture plc are the forerunners in the Market. Companies such as IBM Corporation, Nokia Corporation, and Huawei Technologies Co., Ltd. are some of the key innovators in the Market. In February, 2022, Nokia came into collaboration with Kyndryl, to help enterprise customers boost their digital transformations with industrial-grade grade reliable, and secure LTE and 5G private wireless networking.
Regardless of the kind of market segment or product, such as postpaid & prepaid service, the digital BSS is essential for the growth of convergent billing systems, which help to combine any number of services and products into a single bill. A single customer invoice for billing includes all service prices and provides a comprehensive picture of the consumer. Convergent billing offers operators several benefits since it permits multi-service packaging & pricing, which encourages existing clients to add new services and attracts potential clients with creative service bundles. During the anticipated period, this is anticipated to significantly fuel the market. The market is then anticipated to grow as a result.
The demand for sophisticated and user-friendly digital business support systems (BSS) solutions has increased. Effective management of a sizable number of backend activities is a goal for end-users of BSS solutions. They need a complete and user-friendly digital Business Support System (BSS) solution. The business climate and competitive landscape are dramatically shifting in the telecommunications industry. An extraordinary opportunity to provide value-added services is presented by new technology, particularly 5G, which works as a catalyst for future disruption. In order to increase productivity in the backend operation, businesses are customizing their BSS requirements. Therefore, this market is driven by CSPs' significant deployment of digital business support systems (BSS).
As technological innovation picks up speed, there is a growing need to meet people's rising expectations. Due to the rapid speed of innovation, telecommunications providers must modify to evolving technology infrastructures and enhance their operations and business processes. However, in this fiercely competitive industry, telecom firms want assistance with planning, developing, and implementing new infrastructures while concentrating on their core strengths. The market may experience slow expansion throughout the forecast period due to multiple variables, including the telecom firms' lack of expertise in implementing digital BSS systems.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
Based on offering, the market is segmented into solution, and services. The services segment garnered a significant revenue share in the market in 2022. Organizations' need for related services is rising along with the use of cloud-based BSS systems. The licensing and support, consultancy, installation, training & education, and managed services categories make up the market services. The majority of CSPs seek out the services of digital BSS providers since they require more technological know-how for storing and managing data in the telecom vertical.
Based on Vertical, the market is segmented into BFSI, Healthcare, IT & Telecom, Retail & Ecommerce, Energy & Utilities, Manufacturing, Media & Entertainment and Others. In 2022, the telecom segment procured a promising growth rate in the market in 2022. The sophisticated telecom BSS streamlines sales & support by automating operations and workflows. Telecom businesses can collect interaction data and develop targeted consumer engagements by putting in place a digital BSS stack. They can use AI and deep learning to fulfil in-the-moment client needs, whether they are to reward loyalty, fix network difficulties, or promote deals.
Under solution, the market is fragmented into revenue & billing management, customer management, order management, product management, and others. In 2022, the revenue & billing management segment registered the maximum revenue share in the market. Real-time consumer billing is made possible by BSS solutions and is dependent on the type and quantity of services provided. Operators can easily onboard clients and partners for payment and service fulfilment with the convergent billing system. The growth in this market segment is mostly attributable to the potential advantages of revenue and billing management solutions.
Under services, the market is divided into professional services and managed services. In 2022, the professional services segment dominated the market with the highest revenue share. Custom BSS solutions are available from experienced service providers and are created to match each client's individual requirements. With this level of customization, BSS systems may become more efficient and effective and closely match the client's business operations. In order to seamlessly integrate BSS systems using current ones (like CRM or ERP), many firms have complicated IT infrastructures. With the goal of efficient operations and seamless data flow, professional service providers are experts in integrating these systems.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 5 Billion |
| Market size forecast in 2030 | USD 16.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 16.4% from 2023 to 2030 |
| Number of Pages | 325 |
| Number of Table | 493 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2022, the North America region led the market by generating the maximum revenue share. The region has a highly developed digital infrastructure and technological development, which supports implementing digital BSS solutions. To remain competitive and satisfy client demands for frictionless digital experiences, businesses in North America are increasingly emphasizing digital transformation activities. The region's demand for digital BSS solutions is also fuelled by the rising popularity of online services and the requirement for effective invoicing and customer management systems.
Free Valuable Insights: Global Digital BSS Market size to reach USD 16.5 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Ericsson AB, Amdocs Limited, Huawei Technologies Co., Ltd., Capgemini SE, Nokia Corporation, ZTE Corporation, Infosys Limited, Tata Consultancy Services Ltd., Accenture PLC and IBM Corporation.
By Offering
By Vertical
By Geography
The Market size is projected to reach USD 16.5 billion by 2030.
Growing acceptance of convergent billing system are driving the Market in coming years, however, Inability of telecom corporations to implement digital BSS solutions due to lack of expertise restraints the growth of the Market.
Ericsson AB, Amdocs Limited, Huawei Technologies Co., Ltd., Capgemini SE, Nokia Corporation, ZTE Corporation, Infosys Limited, Tata Consultancy Services Ltd., Accenture PLC and IBM Corporation.
The expected CAGR of this Market is 16.4% from 2023 to 2030.
The Solution segment is leading the Market by Offering in 2022; thereby, achieving a market value of $11 billion by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.7 billion by 2030.
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