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.
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 report also emphasizes several distinctiveness of the global Telecom Expense Management industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the Telecom Expense Management industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The Telecom Expense Management market has tough competition among the new emerging and pre-established market vendors. Besides, the Telecom Expense Management industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
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.
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. Renowned companies are offering new and modern Telecom Expense Management software solutions. In addition, 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.
Segment Overview of 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 Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South Americ