Global Digital Business Support System Market 2019-2023
About this market
The increasing adoption of technologically advanced mobile devices is one of the critical factors that will trigger the growth of the global digital business support system market during the forecast period. The number of mobile subscribers increased rapidly, and end-users are opting for technologically advanced mobile devices for both personal and professional use. This has led to an increase in the use of data services. Factors such as the improved user interference in mobile apps and the use of mobile devices such as smartphones and tablets that offer high processing speed have increased the adoption of digital business support system across the globe. The growth in the number of connected devices across the globe is a significant factor that drives the demand for digital business support system market. With the exponential increase in the number of devices, it becomes increasingly difficult to monitor, manage, and maintain them. Mobility is crucial for most of the aspects of business operations, such as data collection using mobile devices, wireless networks, and unified communication. Thus, the rising adoption of mobile devices is expected to further accelerate the growth of the global digital business support system market during the forecast period. Technavio’s analysts have predicted that the digital business support system market will register a CAGR of nearly 15% by 2023.
Digital transformation in industries such as Internet services, telecommunication, and media and entertainment is driving the growth of the global digital business support system market. In the telecommunication industry, the introduction of 4G and 5G technology is leveraging end-users to connect with the high-speed Internet. The emergence of advanced Internet technologies such as high-speed broadband and the introduction of voice over Internet protocol (VoIP) services on the cell phone has changed the user preference for Internet services and propelled the adoption of new technologies. The adoption of these technologies provides various facilities such as text message (short message service (SMS)), free calling, video call facilities, and TV on the phone. Such developments help digital business support system vendors to integrate the horizontal and vertical structures of the organization with advances in IT. Hence, technological advances and the increasing adoption of digitization will drive the growth of the market during the forecast period.
Need for high investments to meet system requirements
Digital business support system solutions and services providers are facing certain challenges due to the excessive costs involved in fulfilling digital business support system services requirements. The primary requirements for deploying and developing a digital business support system are cost-effectiveness, compatibility, reliability, support for emerging technologies, security, and minimal impact on network infrastructure. The implementation of the virtualization of data centers increases the need for network optimization service delivery in the organization. Challenges such as cost and complexity, data breakup, underused servers, resource issues, managing portability, and realigning staff expertise of virtualized data center in the organization reduce the efficiency of the work. Addressing the needs of digital business support system incurs considerable costs to service providers. This creates the need for expensive infrastructure, which hinders the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the digital business support system market during 2019-2023, view our report.
The market appears to be moderately fragmented. The presence of several companies, including Accenture Plc and Huawei Technologies Co. Ltd., make the competitive environment quite intense. Factors such as the increasing adoption of technologically advanced mobile devices and digital transformation will provide significant growth opportunities to the digital business support system companies. IBM Corp., Infosys Ltd., and Oracle Corp. are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Digital Business Support System Market 2019-2023
Technavio recognizes the following companies as the key players in the global digital business support system market: Accenture Plc, Huawei Technologies Co. Ltd., IBM Corp., Infosys Ltd., and Oracle Corp.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the mobile network operators providing enterprise mobility services.”
According to the report, one of the major drivers in this market is the need to improve business efficiency.
Further, the report states that one of the major factors hindering the growth of this market is the shortage of skilled professionals and a high attrition rate.
Huawei Technologies Co. Ltd.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook