Technological advancements and expanded R&D activities are expected to provide opportunities for the digital business support system market growth
The global digital business support system market size is projected to reach nearly USD 14,796 Million by 2028. Besides, it is projected to gather a CAGR of above 16% over the forecast years 2021-2028. Digital Business Support Infrastructure is a combination of solutions and services that facilitates customer-centric business processes and digital interaction to monetize the better customer experience. It lets end users gain insight into clients, compile real-time subscriptions, and introduce new revenue-generating offerings. The method facilitates the management of the goods, the consumers, their orders, and the income they produce. Digital business support framework market leaders assist their clients in developing a converging, holistically interconnected, and fully coordinated business climate, culminating in continuous value addition at every phase. The framework embraces both business-to-business (B2B) and business-to-customer (B2C) business models. The perfect cloud-based infrastructure is supposed to facilitate real-time connectivity and create a layered architecture. Real-time collaboration involves real-time billing, operation orchestration, and user interface recording. Layer architecture includes the isolation of programs from code, the removal of redundant data, and the use of standard software modules with open application programming and interface.
The report also outlines the various characteristics of the global digital business support system industry by assessing the market from value chain analysis. Moreover, the digital business support system market report comprises various qualitative parts of the digital business support system industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The digital business support system market has solid competition amongst the already well-known and new market players. Besides, the digital business support system industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Based on the components segment, the market is bifurcated into services and solutions. In the year 2019, the solutions segment gathered the major growth and it is likely to maintain its position during the forecast years. The market growth of this segment is primarily ascribed to the increasing adoption of a cloud-based approach by companies across the globe.
Based on the enterprise size, the market is segmented into small & medium, and large enterprises. The large enterprise segment leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. On the contrary, the small & medium enterprise segment is projected to accumulate major growth in forthcoming years. The growth of the segment is mainly attributed to the increasing need for small and medium-sized enterprises to automate business operations, which demands the adoption of technological advancements to enhance the business operations.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. However, the North American region held the highest market share in 2019 and it is projected to remain dominant during the forecast years 2018-2028. This is mainly due to the increasing introduction of emerging technology, especially in the U.S. and Canada regions. Besides, the increasing trend in research and development activities in the North American regions is expected to fuel the growth of this market in the near future. Moreover, the increasing adoption of these technologies, such as big data, IoT, mobility, and this is likely to create tremendous opportunities for growth in North American regions. Furthermore, the rising start-up culture in the North American regions is expected to support the growth of this market in the coming years.
The major players of the global digital business support system market are Amdocs, Huawei, Ericsson, NetCracke, CSG International, Nokia, IBM, Capgemini, ZTE Corporation, and Optiva. Moreover, the other prospective players in the digital business support system market Openet, Sigma Systems, Cerillion, Sterlite Tech, and Accenture. The digital business support system market comprises well-established local as well as global players. Also, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Digital Business Support System Market
Component Overview, 2018-2028 (USD Million)
Deployment Model Overview, 2018-2028 (USD Million)
Enterprise Size Overview, 2018-2028 (USD Million)
- Large Enterprises
- Small & Medium Enterprises
End-User Overview, 2018-2028 (USD Million)
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods, Durables, and Retail
- IT and Telecommunication
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America