The organisation uses telecom expense management to reduce the cost of managing telecom infrastructure. It assists businesses in streamlining their operations, thereby increasing demand for the telecom expense management market. Enterprises are dealing with a high volume of bills and contracts, which has led to an increase in the adoption of telecom expense management to better manage expenses, boosting market growth. Telecom expense management improves efficiency, saves time, and lowers operational costs, all of which have a direct impact on the growth of the telecom expense management market.
The global Telecom Expense Management market size was estimated to reach over USD 1.57 Billion in 2020, and projected to grow significantly with a CAGR of 3.5% over the forecast period. Enterprises can easily manage telecom services as well as assets with the help of telecom expense management, resulting in rising demand for telecom expense management, which propels the market's growth. The growing use of smartphones and tablets around the world is also having an impact on the growth of the telecom expense management market. The growing demand for a cost-effective solution with low deployment costs is expected to drive the growth of the telecom expense management market.
Organizations are increasingly incorporating telecom-related services to improve communication among their various business units, partners, and clients located in different geographic locations. In addition to the rapid globalisation of businesses over the last decade, the incorporation of cutting-edge communication techniques has become critical for businesses to remain competitive in a highly volatile market environment. However, rising telecom costs as a result of the integration of these latest telecom-enabled services have compelled businesses to seek out cost-effective Telecom Expense Management (TEM) solutions.
The rising adoption of mobile phones, gaining visibility over expenses, and the need for visibility over expenses are the major factors driving the Telecom Expense Management market. Lack of interoperability and instances of incompatibility between solutions from different vendors are also significant challenges for the TEM market. This market has a lot of room for growth because of the low deployment costs and rising demand for cost-effective TEM solutions.
Telecom Expense Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.57 Billion|
|Growth Rate||CAGR of 3.5% during 2021-2028|
|Segment Covered||Solution, Service delivery Model, End User, Industry Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Vodafone Global Enterprise, Dimension Data, IBM, MDSL, Tangoe, Accenture, CGI, CSC, Econocom, Valicom, Anatole, Asentinel, Quickcomm Software Solutions, Rivermine, ProfitLine, MBG, Invoice Insight, Avotus, WidePoint Solutions Corporation Inc. among other.|
Key Segments of the Global Telecom Expense Management Market
Solution Overview, 2019-2028 (USD Million)
- Dispute management
- Inventory management
- Invoice and contract management
- Ordering and provisioning management
- Sourcing management
- Usage management
Service delivery Model Overview, 2019-2028 (USD Million)
- Licensed software
- Managed services
- Complete outsourcing
End User Overview, 2019-2028 (USD Million)
Industry Vertical Overview, 2019-2028 (USD Million)
- Retail and E-commerce
- Media and entertainment
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Telecom Expense Management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Telecom Expense Management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Telecom Expense Management industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Solution, Service delivery Model, End User and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Telecom Expense Management market. The report will benefit every stakeholder involved in the Telecom Expense Management market.
- Managers within the Telecom Expense Management industry looking to publish recent and forecasted statistics about the global Telecom Expense Management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Telecom Expense Management market.
Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The majority of businesses were seen migrating their critical business infrastructures to cloud-based systems and converting them into api-based infrastructure. And when we talk about cloud-based systems, we can be certain that they will face data security issues because the data typically stored on cloud servers is vulnerable to hacking, which may impede market growth.
The coronavirus pandemic has wreaked havoc on the majority of the market's manufacturing, development, production, and logistics units. The telecom expense management market industry's growth rate has also slowed tolerably. However, factors such as the increasing number of mobile phone users and the adoption of the most recent technological advancements are assisting the telecom expense management market in maintaining its growth.
A closer examination of the competitive landscape reveals that major IT brands are launching telecom expense management solutions and generating clients in the same month. To maintain their competitive edge, prominent market players have been seen acquiring new companies or local market players. Other business strategies preferred by companies include continuous improvement, joint ventures, and collaborations. Accenture, IBM, CGI, Tangoe, CSC, and many other prominent brands are active in the market.
Based on the Solution segment, the market is classified into Dispute management, Inventory management, Invoice and contract management, application-level encryption, Sourcing management, Usage management, and others. In 2020, TEM solutions propose methods for delivering the same services at a lower cost, thereby lowering telecom spending. Also, gaining control over telecom expenses would liberate some funds, which can be utilized by enterprises for other functions, thus increasing the effectiveness of their core functions.
Service delivery Model Segment
Based on the Service delivery Model, the market is segmented into Hosted, Licensed software, managed services, and complete outsourcing. The rising adoption of mobile phones, as well as the provision of expense visibility and significant cost savings, are driving the growth of the telecom expense management market. The telecom expense management market is hampered by a lack of interoperability and a lack of industry standards. The telecom expense management market benefits from lower deployment costs.
End User Segment
Based on the End User, the market is segmented into SMBs and Enterprises.
Industry Vertical Segment
Based on the industry vertical, the market is segmented into BFSI, Automotive, retail and E-commerce, Manufacturing, healthcare, Media and entertainment, and others. In 2020, there has been an increase in competition among service providers to improve telecom expense management services available to the BFSI sector, allowing them to gain a competitive advantage over other end-users.
Banking clients will be able to track their telecom costs for individual branches and compare them to one another. Meanwhile, insurance clients appreciate the solution's ability to track the total costs assigned to remote employees, allowing them to gain a clear picture of remote costs.
The market for Telecom Expense Management in North America is one of the largest in the world. North America is expected to grow rapidly during the forecast period. The rising adoption of technological advancements and rising demand for the development of mobile applications are driving the growth of the telecom expense management market. The United States will make a significant contribution to the growth of the telecom expense management market in this region, accounting for the largest share in terms of both revenue and mobile application usage.
The major players of the global Telecom Expense Management market Vodafone Global Enterprise, Dimension Data, IBM, MDSL, Tangoe, Accenture, CGI, CSC, Econocom, Valicom, Anatole, Asentinel, Quickcomm Software Solutions, Rivermine, ProfitLine, MBG, Invoice Insight, Avotus, WidePoint Solutions Corporation Inc. among other. These players have adopted various strategies, such as new product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions to cater to the needs of the Telecom Expense Management market. Renowned companies are offering new and modern Telecom Expense Management Dispute management solutions. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market