The next-generation of business support systems (BSS) is rapidly becoming a standard with the increased demand for 5G and enhanced customer experiences.
With enterprises relying more on big data, there has been an increased awareness to adopt digital business support systems (BSS) for security and data management. A recent Frost & Sullivan research indicated the vast expansion and growth opportunities for the next-gen wireless BSS market.
Companies use BSS solutions to help the communication service providers (CSPs) for delivering personalized service experiences – for both consumers and businesses. However, the market may experience a short-term slowdown because of the pandemic, even as the long-term market outlook is positive.
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Lately, vendors have introduced cutting-edge BSS solutions, which include the capacity to support flexible deployments in core and edge. Besides, they now prefer the network slice lifecycle management – which is essential in facilitating CSPs to deliver on multi-partner business models.
Enterprises across industries are relatively timely with their digitization efforts. They encounter similar challenges to those of CSPs in the early-stage of digital transformation efforts. With the evolving situation, it is more decisive for the wireless networks to support growing connectivity needs to function reliably across the board.
Many BSS vendors utilize the current 4G and network services of earlier generations, and they drive most of the revenue as of now. While the wireless sector remains a paramount concern for BSS vendors, they will be able to align with BSS tools to meet the necessary business needs – as we advance.
Hence, BSS vendors can tie-up with different CSPs to build substantial growth opportunities. Some key highlights from the study are –
- Introduction of innovative price strategies and partner-centered business models, including B2B2X, B2B, and B2C, for 5G to succeed.
- Pioneering AI-centric support systems and customer experience solutions- which help the CSPs offer distinguished 5G services.
- Enterprises can support flexible deployments for both core and edge to leverage cloud-native principles. This will help in keeping the operators monetize different features of a network and create new opportunities.
- With 5G, the tech strategy can manage networks and services down to the device level. It will ensure a successful customer experience while operating with valuable network resources.
Similarly, another study from Technavio indicated that the worldwide digital business support system market valuation would reach $2.96 billion by 2023. This is certainly with the increasing adoption of advanced technology and analytical solutions, including Big Data, cloud, and loT.
With the vast available data, businesses globally are focusing on analyzing and using this data to get a competitive advantage – over cost and time. In this context, Vikrant Gandhi, Senior Industry Director at Frost & Sullivan, mentioned in the report – “It is evident that BSS can significantly drive efforts to help organizations address key concerns such as introducing digital services and enabling customers to personalize their service experience.”