OSS/BSS Market Projected to be Worth US$48.54 Billion by 2018: Transparency Market Research

ALBANY, New York, October 21, 2014 /PRNewswire/ --

OSS/BSS Market - Asia Pacific and Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012-2018, a report published by Transparency Market Research, provides valuable insights into the global OSS/BSS Market and forecasts the various factors that could propel as well as hinder the market, and the hot market areas for this industry during over the forecast period.

According to the report, the global OSS/BSS market, which had a market value worth US$17 billion in 2011, could rise to US$48.54 billion by 2018. The market is projected to show a year-on-year CAGR of 16.2% during the forecast period, which seems quite certain according to the current state of the industry and its favorable market conditions.

Browse the full OSS/BSS Market Report with Full ToC: http://www.transparencymarketresearch.com/ossbss-market.html

All telecommunication services (fixed line or mobile) are basically made up of a combination of hardware devices and embedded software that enables the hardware in undertaking various operations. Along with the embedded software, there are two other software applications that are critical for the proper management of the telecom network. These are OSS and BSS.

OSS refers to either operations support systems or operational support systems and BSS to Business support systems. The report states that factors such as the rapid growth in the telecommunications industry and the growing use of convergent billing systems could help the industry grow at the estimated rates.

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OSS/BSS play a significant role in the development of convergent billing systems that allows telecommunication industry in gaining a combined view of customer services such as multimedia, voice, data, etc. Additionally, OSS/BSS gives a granular overview of consumer's data usage, which enables communication service providers in developing value added services and serving their end-users better.

The rapid growth in the telecommunications sector could also benefit the OSS/BSS industry. Another factor that could allow significant growth in the industry is the rising demand for handheld devices such as smartphones, tablets and PDAs, that possess capability to access real-time data on the go. On the other hand, the complexities that arise from integrating OSS/BSS with existing networks could hinder the growth of this market during the forecast period.

Browse the full Press Release of this report: http://www.transparencymarketresearch.com/pressrelease/ossbss-market.htm

Geographically, the region of North America is the one that generates the maximum revenues for this industry. In 2012, the market share of this region was estimated to have valued at US$7.18 billion. This region seems to have amassed benefits from its early entry in the market, which essentially led to significant commercialization and wide spread network of telecommunication channels.

During the forecast years, however, market in the regions of Asia Pacific is estimated to observe the fastest growth owing to wide scope of improved and new services in developing nations such as India and China.

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