Cloud OSS BSS Market Will Advance at a 12.0% CAGR

NEW YORK - Jan. 15, 2024 - PRLog -- The cloud OSS BSS market was USD 20,502 million in 2022, which will increase to USD 50,762 million, advancing at a 12.0% compound annual growth rate, by 2030.

The growth of this industry is because of the increasing requirement to decrease CAPEX, the rising need for convergent billing systems, the growing acceptance of 5G technology, and the surging deployment of revenue management systems.

The IT and telecom category, based on industry vertical, is likely to observe the highest growth, of approximately 13%, in the years to come. Telecom service providers can make profits from their businesses through cloud OSS BSS solutions.

The public category, on the basis of cloud, is likely to observe the highest CAGR, of approximately 12.6%, during this decade. This is because the public cloud possesses scalability property, and it is enormously scalable as per the requirements of telecom operators, government establishments, and individual enterprises.

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APAC is observing an exponential demand, with the increasing count of telecom service users, particularly in densely populated nations like China and India, which are also the key industries for mobile phones.

With the surging acceptance of cloud solutions in various sectors, the cloud OSS BSS industry will continue to advance in the coming years.