The global Digital BSS Market is gaining traction, due to the increasing service options and the complexities in the IT architecture, customized BSS solutions and services for telecom industry vertical. Digital BSS solutions comprises of revenue and billing management, order management, product management, customer management, and others (inventory and number management, policy management, and back office process management).
The services segment is expected to grow at a higher CAGR during the forecast period. The digital BSS services include consulting, implementation, license and maintenance, training and education, and managed service. These services enable telecom operators to overcome various challenges, such as deployment challenges, infrastructure challenges, and operational challenges in digital BSS solution. Most of the CSPs lack the technical expertise in storing and managing the data in the telecom vertical, for which they avail digital BSS services from the service providers. Managed services are offered by third-party providers and help in managing the operational challenges of organizations.
The hybrid cloud segment is projected to grow at the highest CAGR during the forecast period. The hybrid cloud is a mix of public and private clouds and orchestrates between the 2 deployments models to offer the benefits of both. The hybrid cloud deployment model is gaining popularity among the telecom operators, and this is because, this deployment model reduces data privacy risks, reduces cost, and enhances business performance. In addition, it provides the multipurpose and cost-effective features of the public cloud and the advanced security feature of the private cloud.