The Europe digital business support system market is expected to grow from US$ 860.48 million in 2019 to US$ 2,152.61 million by 2027; it is estimated to grow at a CAGR of 12.4 % from 2020 to 2027.
Telecommunication companies moving toward comprehensive digital offering is escalating the market growth.Telecommunication companies have been facing intense competition for the past few years.
Due to stiff competition and market concentration, telcos are losing their subscriber base, which, in turn, is affecting their yearly margin.The transformation was induced to effectively compete in the market and meet subscribers’ changing requirements.
Several telecommunication providers have also started implementing intuitive, omnichannel self-services to enhance overall customer experiences.Due to this significant shift in the service offering worldwide, there is a growing need for more enhanced backend services, which can quicken and smoothen the service delivery process.
Therefore, telcos require support from the business support system (BSS) platform. There has been a growing need for high-speed BSS, with easy customization and digital transformation support. This has led to increased demand for digital BSS across Europe. Telecommunication companies are spending significantly on digital BSS platforms. They are looking for quick deployment of digital BSS platforms. Therefore, vendors operating in the market need to offer digital BSS that is easy to use (requires less training) and can be easily extended to incorporate expanding business operation requirements of telecommunication companies. Today, telecommunication companies are serving individual customers as well as catering to the need of enterprises. Therefore, they need a comprehensive digital BSS solution to support their market, hence driving the Europe digital business support system market.
Countries in Europe, especially the UK, are adversely affected due to the COVID-19 outbreak.Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities.
Owing to business lockdowns, travel bans, and supply chain disruptions, the region experienced economic slowdown in 2020 and it is most likely to continue in 2021.The member states of Europe such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to control the spread of novel coronavirus among its citizens.
The COVID-19 pandemic has initiated major changes in the usage and development of telecom networks and services to provide enhanced services to the employees for teleworking, students for learning online, people for communicating via video.The telecoms sector during the pandemic has become a lifeline for the citizens and businesses across the region.
The pandemic situation laid the telecom sector to test its capability by managing traffic peaks and spikes, combined with a difficult working circumstances and national crisis. All these factors have positively impacted the growth of the Europe digital business support system market. Digital business support system markets in Italy, Spain, Germany, the UK, and France witnessed the positive impact in 2020, and it is likely to continue in 2021 also.
Based on services component, the managed services segment led the Europe digital business support system market in 2019.Managed services are basically outsourcing services offered by vendors providing digital BSS solutions.
For instance, Huawei Technologies Co., Ltd. offers comprehensive managed services. The company has invested in R&D, especially in business platforms, people, and tools to offer best in class managed services over a period. Huawei BSS Managed Services Operation manages the five key BSS operation domains. These include service delivery management, infrastructure management services, application management services, service desk, and business operation services. These services help customers focus more on their core business. These advantages of managed services would drive the Europe digital business support system market in the coming years.
The overall Europe digital business support system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe digital business support system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe digital business support system market. Accenture plc; Alepo; Amdocs Limited; BearingPoint; Capgemini SE; Cerillion plc; Comarch SA; Comviva; CSG Systems International, Inc.; FTS – Formula Telecom Solutions Ltd; Huawei Technologies Co., Ltd.; IBM Corporation; Infosys Ltd.; MIND CTI; NetCracker Technology Corporation; Nokia Corporation; Openet; Optiva Inc.; Oracle Corporation; Qvantel Oy; Sigma Software; Sterlite Tech; Tata Consultancy Services Limited; Telefonaktiebolaget LM Ericsson; and ZTE Corporation are among the players operating in the market.
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