Operation and Business Support System Market : Global Industry Analysis Forecast (2023-2029)

Operation and Business Support System Market was valued at US$ 44.04 Bn. in 2022, and the Operation and Business Support System revenue is expected to grow at a CAGR of 5.2 % for the period 2023-2029, reaching nearly US$ 62.80 Bn. in 2029.
Operation and Business Support System Market Overview:
These are the components used to run the business operations toward the end customers. Some of the Operation and Business Support systems are Alcatel-Lucent OSS, Nokia operating support systems, Huawei OSS, etc. These are playing a very important role in the telecommunication service providers by supporting and extending operations to enhance business services. Due to the presence of high technology and technological advancements these operating and business support systems are extensively used in product management, order management, revenue management, network management, and service industries. As a result, the global operating and business support systems are expected to reach US$ 62.80 Bn. by 2029.To know about the Research Methodology:- Request Free Sample Report
Operation and Business Support System Market Dynamics:
Increasing adoption of next-generation networks, online transactions, and several government initiatives for digitization are driving the growth of the market. The combination of legacy networks like 4G and 5G are created large challenges to the service provider. To overcome these challenges COMARCH a global leader in operation support systems developed new “OSS architecture” which involves zero-touch networks provisioning, self-organized networks, and intelligent assurance and analytics systems. Rising investment in IoT technologies, increasing automation across the end-users and rapid growth in social networking platforms are adding advantages to the market growth.

Increasing Adoption of Convergent Billing Systems Spurs demand for the operation and business support systems. Because increasing mobile commerce and cashless payment offer by the business service providers boosting the market. In 2022, the USA is the largest IT and business service country by spending US$ 4.2 trillion worldwide

The increasing number of BPO industries as well as banking & finance sectors in developing countries like India and Japan are fueling the growth of the market. Because in this digital age these organizations are focusing on high speed, complex, and more agile operating systems to meet the future demand. In 2022, the global BPO size was valued at US$ 232.2 Bn and this is expected to reach US$ 395.32 Bn by 2029.

In April 2020, CSP VALO Networks a Canadian-based company selected “COMARCH” to provide Operation and Business Support to B2B and B2C sector to support its innovative, advanced broadband solutions. To deliver cutting-edge broadband solutions across such a large geographic area in such a short period, VALO Networks turned to Comarch for Smart BSS. CSPs can use this comprehensive solution to manage complex reseller-oriented sales and settlements processes such as request-to-answer, order-to-payment, usage-to-payment, request-to-change, termination-to-confirmation, complaint-to-solution, and self-care.

Some of the factors affecting the growth of the market are, operation and business support systems are struggling in providing services to customers due to different networks and interfaces resulting in service velocity, unable in providing self-service features to the consumers which help in reducing operational and capital cost and growing competition among the global leaders.
Operation and Business Support System Market Segmentation:
Based on Type, The market is sub-segmented into on-premises and cloud. The on-premises segment dominates the global market and it held a share of 51 % in 2022. Growing demand for the on-premises segment in the large business organizations such as BPS, BFSI, and governments sectors due to its reliability, security, and allow enterprises to maintain a level of control that the cloud often cannot, etc. are driving the market growth. The cloud segment is slowing due to its high cost and increased chances of security breaches. In 2022, Sina Weibo China’s largest social media platform was attacked with malware and more than 600 Mn users’ data like username, gender, location, and phone numbers got exposed.

Based on the Application, the market is sub-segmented into IT and Telecom, BFSI, and Media and Entertainment. The BFSI segment dominates the global market and was valued at US$ 2.03 Bn in 2022. Growing digitization and rapid expansion in the banking and insurance sector are drawing the growth of the operation and business support system market. In 2022 the BFSI sector stood at 112.36 Bn and is expecting to reach US$ 165.25 Bn by 2029. In 2022, more than 80% of banking transactions are done online for example general accounting operations, payments processing, etc. And more than 40% of customers operations are done through the BPO sector.
Regional Insights:
In 2022, Asia-Pacific held the largest share in the market. Technological advancements and a preference for digitization are the major factors driving market growth. The growing population in this region’s developing countries, combined with the government initiates to boost the regional information and technology industry. The recent global pandemic made social distancing mandatory because of this transparency in digital transactions taken place. Some of the factors affecting the market growth in this region are, the recent cyber threats that stopped the banking and business organizations operating system activities in this region and the presence of lower literacy rate among the sub-regions of Asia pacific slower the market growth due to lack of awareness.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
Operation and Business Support System Market Scope: Inquire before buying



Operation and Business Support System Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 44.04 Bn.


Forecast Period 2023 to 2029 CAGR:
5.2%
Market Size in 2029:
US $ 62.80 Bn.


 Segments Covered:
by Type
On-Premises
Cloud


by Application
IT and Telecom
BFSI
Media and Entertainment



by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Operation and Business Support System Market Key Players
1. Accenture
2. Amdocs
3. Cisco Systems, Inc.
4. Comarch S.A.,
5. LM Ericsson Telephone Company (Sweden)
6. Hewlett Packard Enterprise Company (U.S)
7. Huawei Technologies Co., Ltd.
8. International Business Machines Corporation
9. Mycom OSI (UK)
10. Nokia Networks
11. Oracle Corporation
12. Sigma Systems
13. Subex Limited
14. TEOCO Corporation
15. Tata Consultancy Services (TCS)
16. Ericsson
17. Tech Mahindra
18. HP

Frequently Asked Questions:

1. Which region has the largest share in Global Operation and Business Support System Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Operation and Business Support System Market?
Ans: The Global Operation and Business Support System Market is growing at a CAGR of 5.2% during forecasting period 2023-2029.

3. What is scope of the Global Operation and Business Support System Market report?
Ans: Global Operation and Business Support System Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Operation and Business Support System Market?
Ans: The important key players in the Global Operation and Business Support System Market are – Accenture, Amdocs, Cisco Systems, Inc., Comarch S.A.,, LM Ericsson Telephone Company (Sweden), Hewlett Packard Enterprise Company (U.S), Huawei Technologies Co., Ltd., International Business Machines Corporation, Mycom OSI (UK), Nokia Networks, Oracle Corporation, Sigma Systems, Subex Limited, TEOCO Corporation, Tata Consultancy Services (TCS), Ericsson, Tech Mahindra, and HP

5. What is the study period of this Market?
Ans: The Global Operation and Business Support System Market is studied from 2022 to 2029.