The advent of new technologies like IoT and 5G are putting intense pressure on the B/OSS systems employed by telcos. Everyone wants their services to be run smoothly, which is the primary reason why OSS BSS solutions have become vitally important. According to a statistic, the OSS/BSS market is expected to be worth $71 billion by 2020. This is quite a large sum in terms of money and also includes investments by non-telecom based companies.
A study by ‘Stratistics MRC’, a leading global survey company, reveals that global telecom billing market is expected to grow from $8.98 billion in 2017 to $20.99 billion by 2026. This stat shows a compound annual growth rate of nearly 10%, which indicates quite a prominent rise in the importance of telecom billing management system. The projected growth in the field of billing clearly shows that most companies realize its potential as the difference maker and consider it to be the tool that breaks the tie between competitors.