Global 5G OSS BSS Market
Dublin, July 18, 2024 (GLOBE NEWSWIRE) — The “5G OSS BSS Market – Forecast to 2024 to 2029” report has been released. ResearchAndMarkets.com Provided.
The global 5G OSS BSS market is undergoing a transformation, projected to grow at a compound annual growth rate (CAGR) of 14.56%. This sharp rise reflects the market being projected to grow from USD 53,566 million in 2022 to USD 138,731 million by the end of 2029. 5G Operational Support Systems (OSS) and Business Support Systems (BSS) are essential components for managing the new complex operational and business environment of 5G networks and facilitating seamless deployment, operation, and remuneration strategies for 5G services.
North America – a market with promising growth potential
Fueled by the rapid assimilation of technology across various sectors, the 5G OSS BSS market in North America is expected to witness steady growth over the forecast period. This is due to the increasing implementation of M2M, IoT, cloud, and mobile services. Moreover, the expansion of smart infrastructure and demand for better security solutions will increase the need for high-speed internet connectivity, thus fueling the growth of the 5G OSS BSS market in the region.
Enhanced connectivity drives market advancements
The market is driven by the growing adoption of OSS and BSS systems, fuelled by the rapid growth in internet users, who now require robust networks to cater to their connectivity needs. Hence, robust and efficiently integrated OSS and BSS are crucial to harness the full potential of 5G technology. The increase in internet users in the US from 87.24% in 2017 to 91.75% in 2021 highlights the surging demand for advanced OSS and BSS solutions to cater to the ever-expanding user base.
Notable Market Trends
The past few years have seen strategic collaborations that foreshadow major contributions to the 5G OSS BSS space. Notable partnerships between industry leaders such as Ericsson and Amazon Web Services, and Nokia and Innova have paved the way for enhanced cloud BSS services and innovative programmable network applications, enriching the industry landscape with pioneering solutions.
The market has been segmented based on various parameters such as deployment type, solutions offered, applications, industry verticals, and geographical regions. This segmentation helps identify and analyze trends and patterns within the industry, providing stakeholders with the insights they need for strategic decision-making. With such segmentation, the market report sheds light on the multifaceted growth drivers and challenges faced by the 5G OSS BSS Spectrum.
As operators and service providers around the world gear up to take full advantage of the immense potential of 5G, the OSS BSS ecosystem is rapidly evolving to meet the complex demands of this new technology era. With significant investments and ongoing innovation, the 5G OSS BSS market is poised to experience robust growth over the coming years.
Key attributes:
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Report Attributes |
detail |
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Number of pages |
120 |
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Forecast Period |
2022 – 2029 |
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Estimated market value in 2022 (USD) |
$53.57 billion |
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Market value forecast to 2029 (USD) |
$138.73 billion |
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Compound Annual Growth Rate |
14.5% |
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Target area |
global |
Featured Companies
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