Digital Business Support System Market is expected to grow from USD 13.64 billion in 2021 to USD 31.20 billion by 2029 : GreyViews

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Digital Business Support System Market Size by Component (Services and Solutions), By Deployment Model (Hybrid Cloud, Private Cloud and Public Cloud), By End-User (Large Enterprises and Small & Medium Enterprises), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 29, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the digital business support system market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the digital business support system market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, function, application and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global digital business support system market are CSG International, Nokia, Accenture, Comarch, IBM Corporation, Tata Consultancy Services Limited, CSG Systems International, Inc., Alepo, Amdocs Limited, Infosys Ltd., Telefonaktiebolaget LM Ericsson, Optiva Inc., Sigma Software, Huawei Technologies Co, Ltd., MIND CTI, Cerillion plc, Comviva, BEARINGPOINT, STERILE TECH, FTS – Formula Telecom Solutions Ltd, ZTE Corporation, Qvantel, Openet, Capgemini among others. To achieve a substantial market share in the worldwide digital business support system market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Digital business support systems provide communication service providers with an elastic, modern and convergent platform for automating business processes and introducing differentiated services in a virtualized network environment. Due to the variety of services offered by the digital business support system to end-user industries, it is expected that the market for digital business support systems will grow in the coming years. Digital business support systems help businesses monitor and manage their operations. Furthermore, the systems automate the entire customer lifecycle, from customer acquisition to customer maintenance. Additionally, the increasing use of online platforms for payment will also enhance the market’s growth. The growth of the market is predicted to be aided by the development of digital business support systems, which will assist telecom operators in making their operations run more smoothly. Due to the variety of services it offers to end-user industries, the digital business support system market is expected to grow in the upcoming years. Digital business support systems are expected to grow significantly due to recent developments in profit-earning models and the upgrading of digital business support systems. As outcome and pull economies grow, and traditional business support system solutions in the telecom industry proliferate, there are new opportunities in the digital business support system market between 2021 and 2028.

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Scope of Digital Business Support System Market Report:

Report Metric Information
Study Period 2021-2029
Base Year           2021
Forecast Period 2022-2029
Market Share Unit USD Billion
Segments Covered Type, Function, Application and Regions.

 

Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players CSG International, Nokia, Accenture, Comarch, IBM Corporation, Tata Consultancy Services Limited, CSG Systems International, Inc., Alepo, Amdocs Limited, Infosys Ltd., Telefonaktiebolaget LM Ericsson, Optiva Inc., Sigma Software, Huawei Technologies Co, Ltd., MIND CTI, Cerillion plc, Comviva, BEARINGPOINT, STERILE TECH, FTS – Formula Telecom Solutions Ltd, ZTE Corporation, Qvantel, Openet, Capgemini among others.

Segmentation Analysis

The solutions segment is expected to be the fastest-growing segment in 2021. 

The component segment includes services and solutions. The solutions segment is expected to witness the highest growth rate during the forecast period. Its biocompatible properties make silicone an ideal material for a wide range of skin care applications, including peel-and-stick skin care products and wearable medical devices constructed from biomedical silicones. The wearable material market is expected to grow during the forecast period due to the increasing demand for silicones.

The public cloud is expected to be the fastest-growing segment in 2021. 

The application segment includes hybrid cloud, private cloud and public cloud. The public cloud segment is expected to witness the highest growth rate during the forecast period. By sharing the cloud infrastructure, multiple users can communicate over the internet, facilitating easier connectivity, reducing server maintenance costs, and deploying services more quickly as technology advances. As cloud computing and its services have become increasingly important in the IT industry, the market for digital business support systems has grown significantly.

Small & medium enterprises are expected to be the fastest-growing segment in 2021. 

The end-user segment includes large enterprises and small & medium enterprises. The small & medium enterprises segment is expected to witness the highest growth rate during the forecast period. The growth of small and medium enterprises is expected to be significant in the next few years as they seek to simplify their business operations. The digital business support system market will grow over the forecast period as technological advances are introduced to improve their performance.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for digital business support systems include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The Asia Pacific region witnessed a major share. Increasing R&D investments in this region, a well-developed IT infrastructure, and the presence of major companies all contribute to the development of new technologies. The market is also expected to grow during the forecast period due to the rise of tailored business support systems and new commercial models, especially in emerging economies like the US and Canada.

Country Analysis

  • Germany

Germany’s digital business support system market size was valued at USD 0.94 billion in 2021 and is expected to reach USD 2.18 billion by 2029, at a CAGR of 11.1% from 2022 to 2029.
Due to the availability of high-quality, easy-to-use digital BSS solutions and telecommunication companies moving towards comprehensive digital offerings, the digital business support system market in the country is growing at an impressive rate.

  • China

China’s digital business support system market size was valued at USD 0.85 billion in 2021 and is expected to reach USD 1.95 billion by 2029, at a CAGR of 11% from 2022 to 2029.
COVID-19 has impacted China the most, which makes videoconferencing, conference calls, and webinars key to the market growth in the country.

  • India

India’s digital business support system market size was valued at USD 0.65 billion in 2021 and is expected to reach USD 1.51 billion by 2029, at a CAGR of 11.2% from 2022 to 2029.  Increasing use of online transactions and mobile devices, cloud-based BSS solutions, digitization of the telecom sector, and more are contributing to the growth of the market in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising demand for a digital business support system in various sectors for smooth working in order to boost business growth.

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GreyViews
Pune India
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