Global Telecom Expense Management Market, By 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) - Industry Trends and Forecast to 2031.
Telecom Expense Management Market Analysis and Size
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.
Data Bridge Market Research analyzes that the global telecom expense management market was valued at USD 1,431.14 million in 2023 and is expected to reach USD 2,765.84 million by 2031, registering a CAGR of 4.1% during the forecast period of 2024-2031. Solution segments account for the highest market share due to the increasing usage of software as a service tool among the consumer. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Telecom Expense Management Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, 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, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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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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Market Opportunities
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Market Definition
Telecom expense management (TEM) is an approach to manage all telecommunication service expenses such as voice, data, and wireless with a combination of software tools and manual auditing. In managing all these services and related processes, its main goal is to minimize costs and maximize process efficiency.
Global Telecom Expense Management Market Dynamics
Driver
- Adoption of Digital Technologies
The increasing urbanization and industrialization as well as the people are now more increasingly adopting digital technologies so as to minimize the use of papers for reading and documentation tasks thus, are positively impacting the growth of the market. Furthermore, the increasing number of applications as well as the easy availability of customized electrowetting display devices are also acting as an active growth driver towards the growth of the electrowetting display market.
Opportunities
- Increasing Use of Advanced Technologies
Artificial intelligence and machine will truly benefit the market in the long run. Such advanced technologies offer greater degree of security and safeguards the crucial information of the user. Advanced analytics and video analytics offer security and safety against proactive risks and therefore, this will spread a positive word of mouth for the transaction monitoring technology on a global scale.
- Growth and Expansion
Growth and expansion of banking and financial services industry especially in the developing economies will present very many opportunities for the growth of the market. Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. Rising number of end users on daily basis, both at large and small scale and complete digitization of operations will also work in favor of the market.
Restraint/Challenge
- Lack of Technical Expertise
Dearth of expert knowledge and technical expertise and lack of awareness especially in the underdeveloped economies will create hurdles for the market in regards to the smooth growth in the market value. In addition, the stringent regulations imposed on the market concerned with the privacy of the general public will further derail the market growth rate.
Recent Development
- In 2021, Tellennium launched Management of Things (MoT), a next-generation expense management platform and service solution for mid to large enterprises. The modified platform and service offerings help customers develop control and maintain visibility over complex recurring expenses and assets. Therefore the company provides enterprises a centralized and elegant solution for handling their invoices within a central, mineable database
Global Telecom Expense Management Market Scope
The telecom expense management market is segmented on the basis of the offering, service delivery mode, enterprise size and end use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Offering
- Solution
- Services
Service Delivery Mode
- Licensed Software
- Managed Services
- 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
Global Telecom Expense Management Market Region Analysis/Insights
The telecom expense management market is segmented on the basis of the offering, service delivery mode, enterprise size and end use.
The countries covered in the market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, rest of Middle East and Africa, Brazil, Argentina, Colombia, Peru, Chile, Venezuela, Ecuador and rest of South America.
North America is expected to dominate the market due to higher demand and manufacturers in the region.
Europe is expected to be the fastest growing region due to the key vendors present in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Telecom Expense Management Market Share Analysis
The telecom expense management market is segmented on the basis of the offering, service delivery mode, enterprise size and end use. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the telecom expense management market.
Some of the major players operating in the 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.)
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