Cloud OSS and BSS Market ÃÂ¢Ã¢âÂ¬Ã¢â¬Å Snapshot
Rise in global connectivity, development of new network solutions, and evolution of big data are helping the global cloud OSS and BSS market grow at a significant rate. Cloud operational support systems (OSS) refer to maintenance of customer services and activities related to the support of back office operations through the help of internet. Whereas, cloud business support systems (BSS) assist in enhancing cloud based support systems to enhance digitization of the organizations.
Private cloud, public cloud, and hybrid cloud are the multiple ways of deploying cloud OSS and BSS. Private cloud deployment is availability of cloud storage applications for the processes of a single company or organization. Whereas, public cloud services are a platform to make cloud services available to numerous users over the internet. Due to restricted access and private cloud backup systems, private cloud service is the more secure solution. Hybrid cloud backup systems provide improved flexibility, higher level of security, significant economies of scale, and high level of scalability, as it uses the resources of both private and public cloud backup systems. Due to the advanced solutions offered, the market for hybrid cloud backup systems is expected to grow at a faster rate than private and public cloud backup systems.
To provide better configuration and improve network flexibility of network services such as Network as a Service (NaaS), Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), cloud OSS and BSS are undergoing continuous development. Furthermore cloud based operational support systems and business support systems are being embraced by various segments as they improve the quality of business, help organizations to secure higher revenues, and support various business functions in an efficient and effective manner.
Cloud operational support systems (OSS) refer to activities related to the support of back office operations and maintenance of customer services via the internet. Â With the growth in the use of internet, the use of voice telephone systems has taken a back seat whereas packet oriented internet traffic, and applications using broadband such as video conferencing and teleconferencing have emerged and are continuously growing. Operational support systems help in tracking and ordering network components which includes internet protocol addresses, billing, reporting, and traffic patterns. Cloud business support systems (BSS) help in achieving objectives in bringing about digitization and enables communication service providers to deliver more cloud based products and services, thereby enhancing cloud based support systems and the business at large. Cloud based operational support systems and business support systems play a crucial role in reducing a companyÃÂ¢Ã¢âÂ¬Ã¢âÂ¢s expenditure, supports various business functions in an enhanced and efficient manner, and help an organization to secure higher revenue and improve the quality of its business. The global cloud OSS and BSS market is expected to see steady growth rate over the forecast period.
Impact of big data, evolution of new business models for development of network solutions, and rise in global connectivity are some of the factors which are expected to drive the growth trajectories of the global cloud OSS and BSS market. With the advent of big data, the volume and rate of creation of data has increased. This huge amount of structured and unstructured data needs to be managed, secured, and controlled with minimum data duplication. Therefore, the need for cloud based operational support systems and business support systems arises to ensure effortless and efficient data management. Further, development of network services, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Network as a Service (NaaS) will further fuel the need for cloud OSS and BSS systems to improve network flexibility and provide better configuration. The need to reduce time required to produce a product and launch it in the market is also expected to help the global cloud OSS and BSS market to expand.
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The global cloud OSS and BSS market has been segmented based on type of service, type of deployment, end-use industry, and region.
Based on type of service, the market has been segmented into professional services and managed services.
Based on type of deployment, the market has been segmented into public cloud, private cloud, and hybrid cloud. Public cloud includes making available storage applications to the public at large over the internet. Public cloud services may be free or may entail a pay per usage cost. Private cloud refers to availability of cloud storage applications in the form of self service. Private cloud service is a more secured option compared to public cloud storage since in private cloud backup systems, access is restricted to connections made from a particular organizationÃÂ¢Ã¢âÂ¬Ã¢âÂ¢s firewall. Hybrid cloud backup system uses both public and private cloud backup systems integrated together. Hybrid cloud backup system is expected to acquire a substantial chunk of the market during the forecast period owing to its high level of scalability, significant economies of scale, higher level of security, and improved flexibility.
Based on end-use industry, the market has been segmented into large scale enterprises, medium scale enterprises, and small scale enterprises.
Based on region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
North America is expected to hold a major share of the global OSS and BSS market owing to high internet penetration and huge research and development, and investments in development and maintenance of big data. However, Asia Pacific is expected to grow with the highest CAGR over the forecast period.
Some of the key players operating in the global cloud OSS and BSS market are Accenture (Ireland), Huawei Technologies Co., Ltd. (China), Hewlett Packard Enterprise Company (US), Nokia Corporation (Finland), Oracle Corporation (US), Sigma Systems (Canada), Cisco Systems, Inc. (US), Mycom OSI (UK), Mahindra Comviva (India) and Â International Business Machines Corporation (US) among others.
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