OSS/BSS market projected to be worth $48.54 billion by 2018

ALBANY, USA: 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 $17 billion in 2011, could rise to $48.54 billion by 2018. The market is projected to show a year-on-year CAGR of 16.2 percent during the forecast period, which seems quite certain according to the current state of the industry and its favorable market conditions.

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.