The global OSS and BSS systems and platform market is poised for strong growth in the coming years, driven mainly by the expansive telecom sector, according to a new report by Transparency Market Research.

Apparently, the increasing adoption of convergent billing systems and the growing demand for customer care services will contribute significantly to the OSS BSS system and platform market.

The research found the market was worth $29.11 billion in 2015, which is predicted to expand at a compound annual growth rate (CAGR) of 10.5 percent from 2016 to 2024, to be worth $70.97 billion by the end of the forecast period. This is despite the fact that regulatory issues and difficulties integrating future systems into existing ones will curb the growth of OSS BSS systems and platforms.

On the upside, the roll out of a new generation operation systems and software framework is expected to provide immense potential for growth to vendors.

Service assurance will dominate in developed countries

Service assurance is expected to dominate the global market by 2024, followed by service fulfillment solutions due to the surging demand for consistent high-speed connectivity in Europe and North America. In addition, several telecom regulators across the globe have formulated certain standards to comply with quality of service levels.

In contrast, network monitoring and network design are in greater demand across the Asia-Pacific, Middle East and Africa, and South America, which is attributed to the deployment of more communications infrastructure. The rollout of augmented networks in Asia-Pacific is expected propel the OSS market to expand at a strong CAGR of 10.7 percent from 2016 to 2024.

The BSS market was primarily led by the customer management solutions in 2015, but revenue management is expected to overtake that segment by 2024. This is mostly because of decreasing average revenue per user (ARPU) and growing investments in communication infrastructures across major developing countries.

Different drivers in different regions

North America was identified as the leading OSS/BSS system and platform market, accounting for about a third of the global market spend in 2015. The growing number of telecom providers and mobile network operators in North America is seen as the prime factor driving demand, and demand is aligned with the expected overall growth in telecoms and IT. Favorable regulation has also strengthened the North America OSS BSS system and platform market.

Asia Pacific is expected to witness high growth in terms of revenue during the forecast period owing to factors such as the rising demand for mobile internet, falling ARPU for voice, intense competition, and an increased degree of convergence, all of which need operational efficiency and innovation.

The growing number of subscribers and rising demand for augmented services – such as revenue and billing management – have raised the prospects for OSS/BSS systems and platforms across Europe.