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According to the new research report titled “Global Digital Business Support System (BSS) Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 8,017.18 million by 2027, registering a CAGR of 12.1% from 2020 to 2027.
A digital business support system (BSS) permits the organizations to efficiently carry-out a customer-centric business approach and digitally advanced customer-engagement solutions and further enhance customer service. These systems also allow better management of customer profiles, revenue, products, and customer orders. The digital business support system (BSS) also automate the overall business processes to support the complete customer lifecycle that varies from shopping, ordering to the billing process. The communication service providers assist their clients by building a synchronized business process management that eventually leads to substantial upgrade at every step of the business process.
Introduction of advanced technologies, such as artificial intelligence (AI), virtual reality (VR), machine learning (ML), augmented reality (AR), and the internet of things (IoT)—is boosting the introduction of advanced solutions, such as digital business support system (BSS). For instance, the implementation of AI in chatbots offers uninterrupted customer support through cloud platforms. In the past few years, the communication service providers (CSPs) and telecom operators are constantly experiencing a significant change in number of end users and their varying demands. The demand for value-added and data services has emerged as one of the prime revenue sources compared to voice communication revenues. The highly growing demographics worldwide and their dynamic demands for services have boosted the telecom sector and the requirement to lower administrative costs by optimizing the operational expenses. Telecom companies, CSPs and Telco operators across the globe are adopting digital business support system (BSS) and services that help them achieve improved operational efficiency and capability while optimizing resources and achieving high profitability.
According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Spain, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and likely in 2021. The pandemic has positively impacted the telecom businesses and CSPs around the globe.
Key Findings of Study:
Geographically, the global digital business support system (BSS) market is fragmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South America (SAM). The market in APAC is projected to experience a significant growth during the forecast period.
Nevertheless, significant strategic initiatives by several industry players are observed in the market; for instance, in 2021, Nokia announced that it has partnered with Google to develop a new solutions for communication service providers, which would modernize their network infrastructures, develop a cloud-native 5G Core, and to provide network edge as a business services platform for enterprises. Moreover, in 2020, Cerillion Plc signed an agreement with GO Chooses, a CSP based in Malta. As per the agreement, Cerillion Plc will provide its core business support system platform to GO Chooses.
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