Global Digital BSS Market – Introduction
- Digital business support systems (BSS) enable enterprises to implement a customer-centric business approach and digitally upgrade customer-engagement solutions so that the customer service can be improved. Digital business support systems (BSS) help in better management of customer profiles, products, revenue, and customer orders.
- Digital business support systems (BSS) also automates business processes to assist the complete customer lifecycle from shopping, ordering, and billing. System providers assist clients in creating synchronized business process management, which ultimately leads to more significant upgradation at every step of the business process.
Impact of Coronavirus (COVID-19) on the Digital BSS Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) positively impacts the digital BSS market. Increasing online activities or transactions across various industries (healthcare, retail, IT & telecom, etc.), due to the pandemic situation is expected to result in significant rise in deployment of digital BSS during 2020 and 2021, which is expected to positively impact the digital BSS market.
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Increasing Demand for Emerging Technologies across Enterprises to Drive the Global Digital BSS market
- Digitalization is expected to create more opportunities in the near future. The entire customer lifecycle right from customer awareness to delivery of support services is likely to lead to augmentation of advanced technologies, thus providing a seamless experience to customers and helping organizations work easier.
- Companies are adopting advanced technologies due to constantly rising and changing expectations of customers. Similarly, companies are making use of web analytics, customer relationship management (CRM), social analytics, and a multi-channel and omni-channel approach to improve customer experience and connecting to a larger customer base.
- Moreover, introduction of advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and Internet of Things (IoT) is also set to support the introduction of advanced solutions.
- For instance, AI is implemented in chatbots for uninterrupted customer support on online platforms. Virtual trail rooms are adopted by retail stores to provide a digitalized purchase experience.
- The impact of this driver is expected to be high during the forecast period. Adoption of digital BSS is increasing across the globe, owing to increasing demand for emerging technologies across enterprises. This is expected to boost the global digital BSS market in the next few years.
High Capital Cost Expected to Hamper the Digital BSS Market
- The investment cost linked with the development of digital business support systems (BSS) along with rapidly changing technology is rather high. This makes it challenging for small & medium size enterprises to adopt these solutions according to their requirements and budget.
- Impact of this restraint is expected to be moderate during the forecast period. Adoption of digital BSS is expected to be hampered across the globe, owing to high capital cost.
North America to Account for Major Share of the Global Digital BSS Market
- In terms of region, the global digital BSS market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global digital BSS market during the forecast period due to growing online transactions and usage of numerous mobile devices. Europe is expected to follow North America in terms of share of the global digital BSS market from 2020 to 2030.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to growing adoption of cloud-based business support systems (BSS), specifically in India, Japan, and China.
Key Players Operating in the Global Digital BSS Market Include:
- Huawei Technologies Co., Ltd.
- Telefonaktiebolaget LM Ericsson
- Netcracker Technology Corp.
- Nokia Corporation
- ZTE Corporation
- Oracle Corporation
- MATRIXX Software
Global Digital BSS Market: Research Scope
Global Digital BSS Market, by Component
- Channel Management
- Marketing Management
- Customer Management
- Revenue Management
- Sales Management
- Partner Management
- Others (Product Management, etc.)
- Consulting & Integration
- Support & Maintenance
Global Digital BSS Market, by Deployment
Global Digital BSS Market, by End-user
- Banking, Financial Services, and Insurance
- Energy and Utilities
- Media and Entertainment
- Transportation & Logistics
- Others (Agriculture, etc.)
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