(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Digital Business Support System Market By Organization Size (Small & Medium Enterprise and Large Enterprise), By Component (Solution and Services), By Deployment (Cloud-Based and On-Premises), and By End-User (Banking, Financial Services, and Insurance, Consumer Goods, Durables, and Retail, IT and Telecommunication, Healthcare, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the globaldigital business support system marketwas around USD 2,798 million in 2018 and is expected to reach approximately USD 7,416 million by 2025, at a CAGR of around 15% between 2019 and 2025.
Digital BSS allows operators or businesses to monetize on support business models and improved customer experience for future or current innovations. It also allows digital engagement and customer-centric business operations, such as dealing with payment issues, taking customer orders, and solving issues related to income or revenue.
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The advent of new commercial models and tailored BSS solutions and the rising use of multiple mobile devices for conducting online transactions are expected to drive the global market of digital business support system. However, time and cost constraints are anticipated to impede the global digital business support system market development. Alternatively, the proliferation of the traditional BSS solutions by NGOSS framework in the telecom vertical and the existence of pull economies are likely to support the global digital business support system market in the years to come.
By organization size, the global digital business support system market includes small and medium enterprise and large enterprise. The large enterprise segment accounted for a dominant market share in 2018. Small and medium enterprises are anticipated to be the fastest growing segment in the years ahead. By component, the market includes solution and services. The service segment is sub-segmented into managed services and professional services. The services segment is estimated to hold a significant share of the global digital business support system market in the future. The deployment of the global digital business support system market includes cloud-based and on-premises. The on-premises segment accounted for the largest market share of the global digital business support system market in 2018 in terms of revenue.
Based on end-user, the global digital business support system market includes banking, financial services, and insurance (BFSI), consumer goods, durables, and retail, IT and telecommunication, healthcare, automotive, and others (power and utility, travel and tourism, etc.). The others segment is estimated to account for a significant market share over the forecast time period, owing to the growing demand from the travel and tourism segment as most tourists resort to online search for their travel planning.
By geography, the growing trend for R & D activities in North America is likely to drive the region's digital business support system market over the forthcoming years. In addition, the rising adoption of technologies, such as big data, mobility, and IoT and growing startup culture is anticipated to enhance the growth of digital BSS market in the years to come.
Some major players operating in the digital business support system market are Amdocs, Capgemini, Ericsson, Huawei, IBM, Sigma Systems, ZTE Corporation, Comarch, Optiva, Accenture, Cerillion, and Infosys.
This report segments the global digital business support system market into:
Global Digital Business Support System Market: Organization Size Analysis
- Small and Medium Enterprise
- Large Enterprise
Global Digital Business Support System Market: Component Analysis
Global Digital Business Support System Market: Deployment Analysis
Global Digital Business Support System Market: End-User Analysis
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods, Durables, and Retail
- IT and Telecommunication
- Healthcare
- Automotive
- Others (Power and Utility, Travel and Tourism, etc.)
Global Digital Business Support System Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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