The 5G OSS BSS Market is anticipated to grow at a CAGR of 14.56% from US$53.566 billion in 2022 to US$138.731 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, April 2, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the 5G OSS BSS Market is projected to grow at a CAGR of 14.56% between 2022 and 2029 to reach US$138.731 billion by 2029.

The term "5G OSS/BSS" refers to the Operations Support System (OSS) and Business Support System (BSS) that are particularly built for 5G networks. OSS/BSS are critical components in the telecommunications sector since they manage and support the operational and business elements of telecommunication services.

With the introduction of 5G technology, the complexity and demand for network operations and business administration have grown dramatically. 5G OSS/BSS is critical to assuring the successful deployment, operation, and monetization of 5G services.

On the operational side (OSS), these systems handle a variety of network operations such as service assurance, network provisioning, fault management, and performance monitoring. They are intended to manage the increasing network complexity, virtualization, and automation associated with 5G networks.

On the business side (BSS), 5G OSS/BSS systems handle client-facing tasks including billing, customer service, order management, and revenue assurance. These solutions are critical for allowing creative business models, managing subscriptions, and providing a consistent consumer experience in the 5G future.

As infrastructure providers shift from 4G to 5G networks and services, the growth of 5G technology opens up new opportunities and increases demand for novel telecom applications. This change can also be attributed to 5G's fast speed.

For instance, According to Speedtest Intelligence^® statistics, median download speeds in India have increased by 115% since the pre-launch of 5G technology. The median download speed, which was 13.87 Mbps in September 2022, has increased to 29.85 Mbps by January 2023. As a result, India's ranking on the Speedtest Global Index improved, by 49 places from 118th in Sept. 2022 to 69th in January 2023.

Thus, putting India ahead of other G20 countries, including Mexico, Russia, and Argentina, as well as its neighbors Indonesia, Bangladesh, Sri Lanka, and Pakistan. Establishing a strong, automated, and completely integrated commercial Support System and Operations Support System (BSS/OSS) is critical to realizing the commercial benefits of 5G.

There are many product launches and developments that are taking place in the 5G OSS BSS market during the forecast period. For instance, in February 2024, Chunghwa Telecom and Ericsson signed a Memorandum of Understanding to work together on 5G-advanced technologies, including Extended Reality, time-critical communication, industrial automation, 5G RedCap, AI-driven energy-saving solutions, and intelligent network management.

The US 5G OSS BSS market is predicted to increase significantly due to the rising usage of modern technologies such as M2M communication, IOT, cloud services, and mobile services across various industries, which will drive market expansion.

Telecommunication firms use Operation Support Systems (OSS) for network planning, fault management, inventory management, service provisioning, service assurance, and configuration, which is expected to drive market expansion and increase utilization across different sectors throughout the forecast period.

Access sample report or view details: https://www.knowledge-sourcing.com/report/5g-oss-bss-market

The global 5G OSS BSS market, based on deployment model is categorized into- on-premise and cloud. On-premise deployment entails installing and running OSS/BSS software and infrastructure on a service provider's facilities, which allows for better control, security, and solution customization. However, it may necessitate a considerable initial financial commitment as well as regular maintenance expenses.

Cloud deployment refers to the internet distribution of OSS/BSS software and services, which provides scalability, flexibility, and cost-effectiveness. It enables service providers to scale resources, pay for consumption, and receive automated software upgrades. However, issues with data security, compliance, and governance may occur.

The global 5G OSS BSS market, based on the solution offered is categorized into- BSS and OSS. BSS solutions are software applications and platforms that help telecommunications service providers manage customer relationships, billing, revenue, product catalogs, orders, and services. They also enable personalized services, subscription plans, billing, payments, customer accounts, and contracts.

OSS solutions are software applications that help telecommunications service providers manage their networks, monitor resources, plan, and optimize services, ensure service quality, and detect faults. Examples include Network Management Systems, Service Assurance platforms, and Trouble Ticketing Systems.

The global 5G OSS BSS market, based on application is categorized into- IoT and MVNE/MVNO. The 5G OSS BSS market enables IoT service deployment, administration, and monetization on 5G networks. It incorporates IoT services into existing telecommunications infrastructure, such as network slicing, edge computing, and network management systems, and provides device management, connection management, data analytics, and monetization solutions. MVNE/MVNO applications in the 5G OSS BSS market provide infrastructure and platform services to mobile virtual network enablers and operators, including subscriber account administration, billing, revenue management, use analysis, and network access.

The global 5G OSS BSS market, based on industry vertical is categorized into- IT and telecom, BFSI, media and entertainment, retail and E-Commerce, and others. The IT and telecom industries, which include telecom service providers, network operators, and technology businesses, use OSS BSS solutions to support operations, network management, and customer-facing processes, resulting in high-quality, dependable, and innovative services. The BFSI industry leverages 5G technologies to boost operations and client experiences, leveraging OSS BSS solutions for digital banking, mobile payments, insurance services, and fraud detection.

The media and entertainment industry uses 5G technology for immersive content distribution, monetization, audience analytics, and personalized recommendations via OSS BSS solutions such as content delivery networks and digital rights management systems.

The retail and e-commerce industries use 5G technology to improve shopping experiences, optimize supply chains, and reshape the digital landscape, while also using OSS BSS solutions for omnichannel retailing, inventory management, and consumer interaction.

As a part of the report, the major players operating in the global 5G OSS BSS market that have been covered are Telefonaktiebolaget LM Ericsson, Teliolabs Communication Private Limited, Nokia, Oracle, Netcracker, FPT, NEC Corporation, and Stl. Tech.

The market analytics report segments the global 5G OSS BSS market using the following criteria:

• By Deployment Model

o On-premise
o Cloud

• By Solution Offered

o BSS
o OSS

• By Application

o IOT
o MVNE/MVNO

• By Industry Vertical

o IT and Telecom
o BFSI
o Media and Entertainment
o Retail and E-Commerce
o Others

• By Geography

o North America

• USA
• Others

o Europe, Middle East, and Africa

• Germany
• UK
• Others

o Asia Pacific

• China
• Japan
• South Korea
• Others

Companies Mentioned:

• Telefonaktiebolaget LM Ericsson
• Teliolabs Communication Private Limited
• Nokia
• Oracle
• Netcracker
• FPT
• NEC Corporation
• Stl. tech

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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