Digital Business Support System Market is estimated to be US$ 11293.21 million by 2030 with a CAGR of 12.6% during the forecast period
A platform or solution known as a "digital business support system" offers monitoring and operational advantages to business operations. Order taking, payment-related inquiries, and client income management are all part of the business support system. The system offers businesses several operation management tools, such as marketing insights and business operation insights, allowing them to make wise business decisions on product launches and market expenditures. Increasing online transactions and the use of multiple mobile devices, increasing cloud-based BSS solutions, increasing digitization in the telecom industry, increasing adoption of digital business support systems from manufacturers in order to add value to businesses by maximizing return on investment, offering support, and increasing reduced operational costs are all important factors escalating the market growth.
Region Analysis:
The market for digital business support systems is dominated by North America thanks to the region's growing significant players, well-established IT infrastructure, increased R&D spending, and new technologies that are being produced there. Due to increasing spending on IT infrastructure, rising adoption from large manufacturers, and growing presence of notable players operating in emerging economies in this region, Asia-Pacific is the region with the highest expectations for growth in the market for digital business support systems.
Key Development:
· In June 2022- The launch of Tecnotree's 5G enabled Digital Online Charging System (DOCS) solution, a cloud-native microservices-based convergent charging platform made to address both the present and the future monetization use-cases of Communication and Digital Service Providers, was announced. Tecnotree is the world leader in Digital Business Support Systems.
· In February 2022- In order to give its clients and partners a bigger competitive advantage in the digital space, BAE Systems has created a new Digital Intelligence division by combining numerous top-tier digital, data, and cyber capabilities from across the company. The launch of the brand-new company, which employs nearly 5,000 people across 16 nations, is a reflection of the expanding demand from clients for complicated data collection, processing, and management. To a wide spectrum of international government, defence, and commercial customers, digital intelligence will provide a wider range of digital capabilities in addition to cutting-edge cyber, intelligence, and security skills.
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Segmentation:
The global Digital Business Support System Market accounted for US$ 3500.2 million in 2020 and is estimated to be US$ 11293.21 million by 2030 and is anticipated to register a CAGR of 12.6%. The global Digital Business Support System Market is segmented based on component, deployment model, end user, and region.
· On the basis of component, the global Digital Business Support System Market is segmented into Solutions (Revenue and Billing Management, Customer Management, Order Management, Product Management, and Others) and Services (Consulting, Implementation, License and Maintenance, Training and Education, and Managed Services).
· On the basis of Deployment model, the global Digital Business Support System Market is segmented into Public Cloud, Hybrid Cloud, and Private Cloud.
· On the end-user, the global Digital Business Support System Market is segmented into Small and Medium Sized Enterprises and Large Enterprises.
· On the basis of region, the global Digital Business Support System Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global Digital Business Support System Market includes Amdocs, Inc., Huawei Technologies Co., Ltd., Ericsson Inc., NetCracker Technology Corporation, CSG Systems International, Inc., Nokia Corporation, International Business Machines Corporation, Capgemini SE, ZTE Corporation, Optiva Inc., Openet Telecom Limited, and Sigma Systems Canada LP.
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