Managed Services Segment to Dominate Europe Digital Business Support System Market during 2019–2027

According to a new market research study on “Europe Digital Business Support System Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component” is expected to reach US$ 2,152.61 million by 2027 from US$ 860.48 million in 2019. The market is estimated to grow at a CAGR of 12.4 % from 2020 to 2027. The report provides trends prevailing in the Europe digital business support system market along with the drivers and restraints pertaining to the market growth. Presence of advanced and easy-to-use digital BSS solutions and telecommunication companies moving toward comprehensive digital offering are the major factor driving the growth of the Europe digital business support system market. However, less awareness and expertise about digital BSS solutions hinder the growth of Europe digital business support system market. 

In case of COVID-19, Europe is highly affected specially the UK. 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 is anticipated to have an economic slowdown in 2020 and most likely in 2021. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of 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 the test their capability by managing traffic peaks and spikes, combined with a difficult working circumstances and national crisis. All these factors are expected to have a positively impacted on digital Business Support System (BSS) market growth in European countries. Italy, Spain, Germany, UK, and France Digital Business Support System (BSS) markets are anticipated to see the positive impact in 2020 and likely to boost in the 2021

The Europe digital Business Support System (BSS) market is segmented on the bases of component and country. Based on component, the market is segmented into solution and services. The services segment dominated the market in 2019 and is also expected to be fastest growing during forecast period. The services segment is further bifurcated into professional services and managed services. The managed services segment dominated the market in 2019 and is also expected to be fastest growing during forecast period. Furthermore, the professional service segment is again sub-segmented into license and maintenance, consulting, implementation, and training and education. The license and maintenance segment dominated the market in 2019 and is expected to be fastest growing during forecast period.

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; ZTE Corporation are among the leading companies in the Europe digital business support system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Optiva Inc. announced that it plans to raise much as US $100 million in order to accelerate investment in transition to cloud.

The report segments the Europe Digital Business Support System Market as follows:

Europe Digital Business Support System Market – By Component

• Solution
• Services
  • Professional
    • License and Maintenance
    • Consulting
    • Implementation
    • Training and Education
  • Managed

Europe Digital Business Support System Market – By Country

• Germany
• UK
• France
• Italy             
• Spain
• Rest of Europe