MarketResearchReports.biz has announced the recent addition of a research report, titled “Global Cloud OSS and BSS Market from 2017 to 2025”. It also states that the market is expected to grow at a significant share during the forecast period. The report provides a detailed overview of the global cloud OSS and BSS market according to the size and share. The report highlights some of the market trends, drivers, and opportunities influencing the growth of cloud OSS and BSS market. Furthermore, it also showcases some of the restraints impacting the overall growth. The estimations featured in this report are derived using proven assumptions and research methodologies.
The global OSS and BSS market is growing on the back of various factors which include a rise in global connectivity, the influence of big data, and the expansion of business models. With the arrival of big data, the rate and volume of data creation have increased over the past few years. This leads to vast amounts of unstructured data which needs to be secured, managed, and controlled ensuring minimal data duplication. Hence, the need for cloud OSS and BSS arises to guarantee simple and efficient data management. Furthermore, the growth of network services such as Platform as a Service (PaaS), Software as a Service (SaaS), Network as a Service (NaaS), and Infrastructure as a Service (IaaS) is likely to fuel the demand for cloud OSS and BSS systems. This is primarily on account of enhancing network flexibility and ensuring better configuration. There is a high need to produce and launch a product in the stipulated time. This trend is estimated to arise further need for this market within the forecast period. Advancements in cloud technology have also led to the development of cloud OSS and BSS market.
Although the market offers enormous potential for key players on the other side, there are some challenges faced by the market too. Optimization of cloud OSS and BSS systems is one of the downsides impacting the growth. Another problem is regarding the complexities involved while integrating the system and replacing it with the legacy systems. These challenges may hinder the growth of cloud OSS and BSS market in the years to come.
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The cloud OSS and BSS market are bifurcated into a hybrid cloud, private cloud, and public cloud as per type of deployment. Among these, private cloud is safer and secure as the access is restricted to outside or external connections. The hybrid cloud system is expected to dominate the market owing to its significant economies of scale, enhanced flexibility, high level of scalability, and significant economies of scale.
The cloud OSS and BSS market are geographically spread over regions which include North America, Europe, Latin America, Asia Pacific, and MEA. Of these, North America is estimated to account for the majority of market share. This is majorly on the back of and vast research and development activities, considerable investments in big data, and high penetration of internet. Asia Pacific is also anticipated to grow significantly during the forecast period. The cloud OSS and BSS market are covered with numerous key players across regions. Few of the prominent players operating in this market include Huawei Technologies Co., Ltd., Accenture, Hewlett Packard Enterprise Company, Mahindra, Nokia Corp., Oracle Corp., Sigma Systems, Cisco Systems, Inc., Comviva, International Business Machines Corp., Mycom OSI among others.