Global Digital Business Support System (BSS) Market Size Almost Triples to Cross USD 15 Billion by 2029

Published | 06 February 2024

Global digital business support system (BSS) market is flourishing because of the increasing focus on providing personalized and seamless customer experiences, enhancing operational efficiency, and reducing costs; and growing high adoption of cloud computing and big data analytics across sectors.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global digital business support system (BSS) market size at USD 5.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global digital business support system (BSS) market size to grow at a robust CAGR of 16.7% reaching a value of USD 15.03 billion by 2029. Major growth drivers for the global digital business support system (BSS) market include an increasing implementation and utilization of tailored solutions for businesses. These digital BSSs provide essential functionalities, including order management, payment inquiries, and revenue management for enterprises. Notably, they offer valuable insights into marketing, business operations, and other management aspects, empowering businesses to make well-informed decisions regarding product launches and expenditure in the market. Reduced operational expenses, the surge in online transactions and the use of multiple mobile devices, the growing preference for cloud-based BSS solutions, digitization trends in the telecom sector, and the adoption of digital BSSs by manufacturers to enhance business value through increased ROI, improved customer service, cost reduction, and faster product and service launches are also significant contributors to the growth of the global digital BSS market. In addition, the proliferation of traditional BSS solutions in the telecom industry, driven by outcomes and pull economies, presents new opportunities for the digital business support system (BSS) market over the forecast period. However, high cost of implementation and maintenance and lack of skilled professionals are anticipated to restrain the overall market growth during the forecast period.

Global Digital Business Support System (BSS) Market – Overview

The global digital business support system (BSS) market refers to the sector within the technology and telecommunications industries that provides businesses with digital solutions and support systems to manage various aspects of their operations. Digital BSS solutions typically encompass a range of functionalities, including order management, payment processing, revenue management, customer support, and marketing insights. Digital BS systems empower businesses to enhance efficiency, reduce operational costs, and make data-driven decisions, ultimately improving their overall competitiveness and customer service. The market caters to a diverse range of industries, with a particular emphasis on telecommunications, where these systems play a crucial role in managing subscriber services, billing, and network operations. As businesses increasingly embrace digital transformation, the demand for Digital BSS solutions continues to grow, making it a dynamic and evolving market.

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Impact of COVID-19 on Global Digital Business Support System (BSS) Market

COVID-19 pandemic had a positive impact on the global digital business support system (BSS) market. With lockdowns and social distancing measures, there was a surge in demand for digital services and remote work solutions. This led to increased reliance on BSS systems for managing telecommunications services and ensuring seamless customer experiences. However, the pandemic also brought economic uncertainties, affecting budget allocations for BSS investments. Companies had to reassess their priorities, potentially delaying or scaling down BSS projects. Overall, the pandemic accelerated the adoption of digital services but also introduced financial challenges, resulting in a mixed impact on the global digital BSS market.

Global Digital Business Support System (BSS) Market – By Solution

Based on solution, the global digital business support system (BSS) market is divided into Revenue & Billing Management, Customer Management, Order Management, and Product Management segments. The customer management segment holds the highest share in the global market by solution, due to its central role in enhancing customer experiences and driving business success. Effective customer management solutions within BSS frameworks empower businesses to provide personalized, seamless, and efficient services, which are crucial in today's competitive landscape. With the increasing importance of customer-centric strategies, telecom operators and businesses across various industries prioritize solutions that enable efficient customer onboarding, self-service options, and issue resolution. Consequently, the customer management segment takes precedence as companies recognize the pivotal role it plays in retaining customers, reducing churn, and ultimately, achieving higher profitability.

Competitive Landscape

Major players operating in the global digital business support system (BSS) market include Amdocs, Huawei, Ericsson, Netcracker, CSG Systems, Nokia, IBM, Infosys, Accenture, Oracle, Mahindra Comviva, Qvantel, BearingPoint, Formula Telecom Solutions, and MATRIXX Software. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Digital Business Support System (BSS) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Digital Business Support System (BSS) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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