Digital Business Support System Market

Digital Business Support System Market Size & Growth (2022 - 2027)

The Digital Business Support System Market is projected to grow at a CAGR of 15.70% during the forecast period 2022 - 2027. The rising introduction and deployment of customized solutions for the business is a factor that is expected to lead the Digital Business Support System market during the forecast period.

The Digital Business Support System solutions is nothing but a type of platform or solution which provides the monitoring and operational benefits to the business enterprises in which this business support system includes taking of orders, payment related queries and also the revenue management of the customers of the businesses whereas the system provides marketing insights, business operation insights among various other operation management which aids to the enterprises by enabling them to make informed business decisions regarding the product launches and also market expenses.

Market Drivers

Rising online transactions and use of multiple mobile devices is expected to play an essential role in the growth of market of Digital Business Support System across the globe. Another factor such as rising advent of tailored business support system solutions and new commercial models which influence the growth of Digital Business Support System market during the forecast period. Increasing reduced operational costs, rising assumption of cloud based business support system solutions, rising digitization trend in the telecom industry are some of the major driving factors which promotes the growth of the revenue rate of Digital Business Support System market during the forecast period. Furthermore, rising adoption of digital business support system from manufacturers in order to add value to business through maximizing return on the investment, offering superior customer service and reducing costs, accelerating time to the market for new products and services are also some of the major driving factors which helps the market to grow further.

Market Restraints

High capital cost is one of the important barriers to market growth. Also, the increasing complications in business process and integration of traditional and modern business support system acts as an important deterrent to the growth of the Digital Business Support System market. Furthermore, this is a very time taking process which acts as a major restraint for the growth of the market.

DIGITAL BUSINESS SUPPORT SYSTEM MARKET REPORT COVERAGE:

Market Segmentation

The Digital Business Support System market is segmented based on the following categories:

Digital Business Support System Market - By Component:

• Solutions
  • Channel Management
  • Marketing Management
  • Customer Management
  • Revenue Management
  • Sales Management
  • Partner Management
  • Product Management
• Services
  • consulting & Integration
  • Support and Maintenance

The services segment held the prominent share and is predicted to remain at the forefront throughout the forecast period due to the increasing adoption of cloud-based business support system solutions and increased demand for the associated services. It helps in reducing the cost, increasing the overall revenue and also enhancing the business performance.

Digital Business Support System Market - By Deployment Mode:

• On Premises Deployment Mode
• Cloud Deployment Mode

The on-premises deployment mode is a traditional approach which is used to implement the Digital Business Support System solutions across enterprises.

Digital Business Support System Market - By End User:

• Banking, Insurance, IT and Telecom
• Healthcare
• Retail
• Education
• Government And Defense
• Financial Services
• Transportation And Logistics
• Agriculture
• Others

The banking and financial services segment held prominent share of the market among the other segments.

Regional Analysis

On the basis of region, the Digital Business Support System market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.

North America region hold the prominent share of the market due to the factors such as growing online transaction and also the usage of numerous mobile devices. Furthermore, rising advent of tailored business support system solutions and new commercial models in the region especially in some of the emerging economies such as United States and Canada promotes the growth of the market during the forecast period. The North America region is expected to hold the dominance during the forecast period.

Asia Pacific region is also expected to increase the market growth due to the growing adoption of cloud based business support systems especially in India, China and Japan helps the growth of the digital business support systems market during the outlook period.

Europe region will also increase the growth of the market followed by North America region and Asia Pacific region attributed to the factors such as rising of digitization in telecom industry and also increasing of investments by the major key players of the market for new product innovations.

Key Players

Key market participants of Digital Business Support System market are Sigma Systems Canada LP., sterlitetech, Cerillion, Openet, Comarch SA, Qvantel, BearingPoint, Capgemini, Nokia, ZTE Corporation, Infosys Limited, Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson, CSG International, Netcracker Inc., Amdocs, Huawei Technologies Co. Ltd., Accenture, IBM Corporation, Oracle, Optiva Inc., Mind Digital Group, ComViva, and MATRIXX Software

Impact of COVID 19 in Digital Business Support System Market

Most of the government authorities from various countries have announced lockdowns due to increasing spread of the COVID pandemic has made so many industries in loss but it has positively impacted on the digital business support system market due to increasing of online activities or the transactions across various industries such as healthcare, retail, IT and telecom. Rise in deployment of digital business support system due to the pandemic situation and this digital business support system market will have a positive growth during the forecast period.