Dallas, Texas, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The “Digital Business Support System Market by Component (Solutions, and Services), Deployment Model (Cloud Based, On-Premises), Enterprise Size (Large Enterprises and Small & Medium Enterprises), End User (Banking, Financial Services, and Insurance (BFSI), Consumer Goods, Durables, and Retail, IT and Telecommunication, Healthcare, Automotive and Others), and by Region, Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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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.
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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.
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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.
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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.
Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Digital Business Support System Market by Component
Chapter 6 Digital Business Support System Market by Deployment Model
Chapter 7 Digital Business Support System Market by Enterprise Size
Chapter 8 Digital Business Support System Market by End User
Chapter 9 Digital Business Support System Market by Region
Chapter 10 Competitive Landscape
Chapter 11 Company Profiles
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