Published On : 27 Dec 2016
Businesses across the globe are realizing the importance of cost effective business process so as to gain a competitive edge above the others. This is expected to fuel the adoption of business support system, states a report added by QYResearchReports.com. The report is titled ‘Global Business Support System Market Research Report 2016,’ is now available for sale on the website of QYResearchReports.com. The report combines the data from past and present state of the market and predicts the market size for 2016. The report is a comprehensive analysis of the significant variables that will shape the business support system market and predicts the state of the market in different regions such as Asia Pacific, Europe, North America, and the Rest of the World (RoW).
The application of machine-to-machine (M2M), Big data, and virtualization by network operators is increasing and this is creating a great need for network management services. Network management services are required so as to manage different critical network operations in organizations. Today network operators are moving towards NFV, SDN, and Cloud technologies, which help in the management of various critical network operations. To manage this high number of entities, business support systems come to the aid of network operators, helping them to remain competitive and effective.
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The worldwide adoption of business support systems has accelerated owing to support standards framed by various governments and communication service providers. The transition to next generation network is also creating many growth opportunities for the business support system market. However, the market experts have also found challenges that the business support system industry faces, which is restraining the growth of the market. A lack of specialists to operate and manage business support systems is creating a gap between order activation and processing. This is resulting in customer dissatisfaction and may hamper the market’s growth. Another problem is the difficulty in deploying business support systems in traditional systems. The dynamic nature of the business in telecom sectors will also pose challenge for the market.
On the basis of geography, it is expected that North America will lead in 2016 and will be trailed by Europe due to a surge in the market for service assurance solution. The higher rates of 3G and 4G deployments in these regions are also acting as growth drivers for the market. By solution, the global business support system market can be segmented into product/service management, customer management, order management, and revenue management. Of these, the customer management segment is most likely to lead in 2016. By end user, the global business support system market can be segmented into banking, telecom enterprises, finance services & insurance, government, retail, and manufacturing. Of these, the telecom enterprise segment is witnessing a remarkable growth.
Some of the key players in the global business support system market are: Ericsson, Accenture, Tech Mahindra, Amdocs, Hewlett-Packard (HP), Nokia Networks, Oracle Corporation, IBM, TCS, and Huawei Technology.
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