Many organizations are expected to launch their digital business support Market software to provide digital support to business to business or business to customer. For instance, Alepo, one of the major key players of the digital business support system market, recently launched its Business Support Systems (BSS) that offers its service providers to upgrade their legacy BSS to a truly digital 5G-ready stack, thereby empowering them to deliver digital-first customer experiences and automate business processes. In addition, Netcracker launched its business support portfolio, which helps customers to launch and monetize 5G, IoT & cloud services, expand partner ecosystems, and provide a world-class customer experience. Therefore, these launches of services and solutions are expected to provide lucrative opportunities for the digital business support system market in the upcoming years.
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COVID-19 scenario analysis:
► The COVID-19 pandemic has severely affected almost all industries across the globe. Further, lockdown enforcements and restrictions on movement of non-essential goods as well as resources in various countries have disrupted the supply chain. The major challenge for the entire global economy is to sustain the business continuity amidst lockdown, social distancing, and other challenges.
► As per experts, the disruption caused by COVID-19 has already produced more digital transformation in the last one month than witnessed in the last 20 years. While many workers and businesses are suffering from closures and quarantines, other areas of economy are innovating and/or growing. These areas include telecom, internet, supply chains, pharmaceuticals, and healthcare.
► This pandemic period could boost the needs for virtual reality and digital transformation. With the growth of internet infrastructure it is estimated to have greater needs for non-verbal communication over digital channels. In addition, it is expected for people to work and travel over digital highways. Therefore, firms unable to transform digitally are expected to remain stagnant.
► After basic services are stabilized, targets for innovation and policy are expected to change. The world’s requirement for digital technology and digital transformation is estimated to accelerate, which increases the demand for digital business support to manage and migrate to digital technology, thus providing lucrative opportunities for the digital business support system market in the upcoming years.
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Rise in adoption of digitalization & IoT, increase usage of mobile devices & online payment, advent of new commercial models, and tailored business support software, and introduction & deployment of customizes solutions for business are a few key drivers of the market. However, factors, such as lengthy time consuming, high cost for implementation, and complex business process, restrain the growth of the market. Furthermore, increase in adoption of traditional business support in the telecom market, new product launches, and growth in the e-commerce sector are expected to create lucrative opportunities for the digital business support system market.
Key benefits of the report:
► This study presents the analytical depiction of the global digital business support system market along with current trends and future estimations to determine the imminent investment pockets.
► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global digital business support system market share.
► The current market is quantitatively analyzed to highlight the global digital business support system market growth scenario.
► Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
► The report provides detailed digital business support system market analysis based on competitive intensity and how the competition will take shape in coming years.
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Digital business support helps organizations to enhance the revenue streams and to evolve, capture & secure money streams by taking advantage of business opportunities and digital services such as 5G or Internet of Things. In addition, the aim of digital business support is to offer catalog-driven and pre- integrated, such as self-care analytics, and also supports available standards for multivendor integration.
Key Market Players:
► Capgemini
► Huawei
► Nokia
► Optiva
► IBM Corporation
► Ericsson
► ZTE Corporation
► Amdocs
► CSG International
► NetCracker
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