Increased consumer spending has been observed to have uplifted the sale of smartphones and other portable devices in the market. It is possible to see their monthly spending on their laptop, mobile phone, tablet, or any other portable device and also can manage its expense because of the advancements in TEM technology. To increase the customer experience and build trust in the company, the organization offers transparency about their operations.
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Data Bridge Market Research analyses that the Global Telecom Expense Management is expected to reach USD 1,946.74 million by 2028 from USD 1,431.14 million in 2020, growing with a CAGR of 4.1% in the forecast period of 2021 to 2028. The increasing demand for the telecom expense management across different sector will provide potential opportunities for the market growth in the forecast period.
Increasing demand for TEM in the healthcare sector is expected to drive the market's growth rate
The healthcare sector is growing very rapidly. Telecom costs within the industry are on the rise. Improperly managed inventory of BYOD devices and numerous billing errors are accounting for wasted spending from annual healthcare budgets. In addition to this, the immense growth of remote working led to an increased demand for wireless equipment. This increased the demand for TEM market in the healthcare sector.
For instance,
As per the article in March 2021 by brightfin, TEM helps clinics and hospitals minimize costs by managing telecom expenses. Services, assets, and many other expenses can be outlined, tracked, and monitored through this software. Furthermore, the firms that are operating in healthcare industries can automate manual, labor-intensive processes and create much productive workflows by using both outsourced management services and software.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (solution, service), Service delivery mode (licensed software, managed services and complete outsourcing, hosted), Enterprise size (large enterprises, small & medium enterprises), End use (IT & telecom, BFSI, manufacturing, healthcare, transport & logistics, consumer goods & retail, energy & power, media & entertainment, others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Vodafone Group (U.K.), CGI Inc (Canada)., Dimension Data (South Africa), Accenture (Ireland), ECONOCOM (France), AVOTUS (Canada), Calero-MDSL (U.S.), Cass Information Systems, Inc.(U.S.), Sakon (India), Tangoe (U.S.), Upland Software, Inc.(U.S.), VALICOM (U.S.), WidePoint Corporation (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis:
The global telecom expense management market is segmented into four notable segments which are based on the offering, service delivery mode, enterprise size, and end use.
The solutions segment of offering type is anticipated to dominate the telecom expense management market
The solutions segment is expected to dominate the global telecom expense management market with a 57.43% market share since it helps in decreasing unnecessary costs and optimizing telecom spending.
The licensed software segment of offering type is anticipated to dominate the telecom expense management market
The licensed software segment is expected to dominate the global telecom expense management market with a 52.40% market share as all the operations are performed by the customers themselves providing transparency of all the spending carried out
Major Players
Data Bridge Market Research recognizes the following companies as the major telecom expense management market players in telecom expense management market are Vodafone Group (U.K.), CGI Inc (Canada)., Dimension Data (South Africa), Accenture (Ireland), ECONOCOM (France), AVOTUS (Canada), Calero-MDSL (U.S.), Cass Information Systems, Inc.(U.S.), Sakon (India), Tangoe (U.S.), Upland Software, Inc.(U.S.), VALICOM (U.S.), WidePoint Corporation (U.S.)
Market Development
Regional Analysis
Geographically, the countries covered in the telecom expense management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in telecom expense management market during the forecast period 2021 to 2028
North America dominates the telecom expense management market because of the higher control with the consumers. Additionally, the U.S. plays a major role in increasing the growth due to higher demand and regional manufacturers.
Asia-Pacific is estimated to be the fastest-growing region in telecom expense management market the forecast period 2021 to 2028
Asia-Pacific is expected to grow during the forecast period of 2021 to 2028 because of the major vendors available in the region. Furthermore, China increases the market growth because of the increasing demand in the region and use of telecom expense management in the region.
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Global Telecom Expense Management Market – Industry Trends and Forecast to 2028
Europe Telecom Expense Management Market – Industry Trends and Forecast to 2028
Middle East and Africa Telecom Expense Management Market – Industry Trends and Forecast to 2028
Asia Pacific Telecom Expense Management Market – Industry Trends and Forecast to 2028
North America Telecom Expense Management Market – Industry Trends and Forecast to 2028