MULTISERVICE PROVISIONING PLATFORM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Multiservice Provisioning Platform Market Size and Trends

Global multiservice provisioning platform market is estimated to be valued at USD 47.83 Bn in 2024 and is expected to reach USD 65.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

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The multiservice provisioning platform provides several advantages like centralized credential management, simplified operations, and cost reduction which is driving its adoption across industries. Increasing demand for centralized authentication systems and unified access to diverse IT infrastructure from enterprises is driving the adoption of multiservice provisioning platforms. These platforms offer benefits like increased productivity, simplified operations, and reduced IT expenses which is fueling their demand.

Market Driver - Rising need for automation and orchestration in telecom networks

As telecom networks continue to grow in complexity with the rise of 5G, Internet of Things (IoT), and other advanced technologies, maintaining and managing these complex networks is becoming an increasingly difficult task for communication service providers (CSPs).

With a multi-service provisioning platform, CSPs can automate both routine and complex workflows across various network technologies and domains. It helps standardize processes, eliminates manual touches, and provides visibility across different systems and protocols. Outdated and fragmented systems can be consolidated and streamlined. Now network resources like hardware, software, and services can be provisioned automatically according to the requirements specified through the platform.

As networks continually evolve and new segments like IoT/edge/cloud emerge, the ability to support diverse technologies on a single platform becomes even more crucial. It allows CSPs to roll out new services at greater speed while reducing integration risks. Automation also results in greater operational efficiencies which can help CSPs meet their financial goals. Considering these benefits, it is increasingly important for CSPs to deploy a multi-service provisioning platform that can streamline network operations, make them agile to support future technologies and bring the network under a single unified control. This helps them better manage network complexity and compete effectively in today's cut-throat telecom environment.

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Expansion of 5G and IoT networks

The rise of 5G technology and exponential growth of IoT present a massive business opportunity for CSPs but also introduce several challenges related to network management and operations. 5G networks are far more complex multi-dimensional systems compared to previous generations. They rely on a variety of new technologies and network domains - from enhanced mobile broadband to mission critical applications. Similarly, IoT connections are also diversifying across a broad range of use cases requiring tailored solutions. Managing these large-scale heterogeneous networks with traditional tools is near impossible for CSPs.

A multi-service provisioning platform creates the foundation required to build and manage next-generation 5G and IoT networks at scale. With its unified orchestration capabilities, CSPs can automate processes across different domains and flexibly provision hardware and software resources according to dynamic requirements. As networks expand and technologies advance rapidly, the platform provides a single point of control as well as integration for diverse systems. This helps CSPs roll out new services and capacities in a timely and cost-efficient manner.

In June 2023, Nokia, a global leader in telecommunications and networking technology, launched a new multiservice provisioning platform that supports 5G services. This innovative platform enables operators to efficiently manage and provision both legacy and next-generation services from a single interface, enhancing their operational capabilities in a rapidly evolving market.