The global telecom expense management market has the potential to grow by USD 1.60 billion during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and deployment (on-premises and cloud-based). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Calero Software LLC, Cass Information Systems Inc., Globys Inc., Market Data Services Ltd., RadiusPoint, Saaswedo, Tangoe Inc., Tellennium Inc., Valicom Corp., and WidePoint Corp.
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The telecom expense management market is fragmented, and the degree of fragmentation will decrease during the forecast period. Vendors are adopting various inorganic growth strategies such as collaborations and mergers and acquisitions to build new products and services and strengthen their positions in various geographies. For instance, Calero acquired A&B Groep to expand its footprint in Europe. Tellennium Inc., Valicom Corp., and WidePoint Corp are a few other significant market participants. Although the accelerating market growth momentum will offer immense business opportunities to the vendors, lack of interoperability will challenge their growth. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this telecom expense management market forecast report provides a detailed analysis of the market leaders and on their competencies and capacities. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. This telecom expense management market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading telecom expense management companies, including:
Calero Software LLC
Cass Information Systems Inc.
Market Data Services Ltd.
Telecom Expense Management Market: Segmentation by Region
North America is one of the largest markets for telecom expense management. The presence of established key players is accelerating business opportunities for vendors in the TEM market in the region. Furthermore, the growing remote workforce is also increasing the demand for telecom expense management solutions.
Over 42% of the market’s growth will originate from North America during the forecast period. The rising adoption of TEM solutions by governments to manage their telecom expenses will fuel telecom expense management market growth in North America. The US and Canada are the key markets for the telecom expense management market in the region. Over the forecast period, market growth in North America will be slower than the growth of the market in the other geographies.
Telecom Expense Management Market: Segmentation by Deployment
Large enterprises are significantly adopting on-premises telecom expense management solutions for effective data security and control of network and data. Moreover, advances in 5G deployments that is easing the deployment of telecom management solutions will contribute to telecom expense management market growth.
The growth of the telecom expense management market by the on-premises segment is expected to be slower than the cloud-based segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the telecom expense management market size.
Telecom Expense Management Market: Key Drivers and Trends
Enterprises with several non-desk workers are opting for the bring your own device (BYOD) practice to reduce high costs on hardware and telecommunications cost. Moreover, the practice improves accessibility and connectivity for the workforce. Furthermore, the evolution of mobile technologies such as 5G, IoT, and the cloud ecosystem is also influencing the adoption of BYOD among enterprises. However, enterprises need to establish security standards to ensure control over applications and content accessed and stored on mobile devices. As a result, the BYOD policy has gained significance among enterprises. The policy involves the integration of all the devices under a single platform and the use of TEM solutions, which enhance the visibility of telecom services consumption and automates telecom bill approval processes. Therefore, the rising popularity of the bring your own device policy is expected to significantly drive the telecom expense management market growth over the forecast period.
The growing popularity of cloud-based services is one of the significant telecom expense management market trends.
Vendors in the market have leveraged this trend and have started offering cloud-based TEM solutions.
The adoption of TEM solutions in the cloud model helps end-users in managing significant volumes of data.
The deployment of cloud-based TEM solutions also reduces IT maintenance complexity for organizations.
The early adoption of cloud-based TEM solutions is expected to offer growth opportunities to vendors in the global telecom expense management market during the forecast period.
During 2019-2023, the telecom expense management market size will grow at a CAGR of almost 12%.