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Global Telecom Expense Management Market – Industry Trends and Forecast to 2031

  • ICT
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

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

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

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

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

Market Players Covered

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 Opportunities

  • Adoption of digital technologies
  • Growing concern across the globe to save trees and save the environment

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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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Telecom Expense Management Market size will be worth USD 2,765.84 million during the forecast period.
The Telecom Expense Management Market growth rate is 4.1% during the forecast period.
The Adoption of Digital Technologies is the growth driver of the Telecom Expense Management Market.
The offering, service delivery mode, enterprise size and end use are the factors on which the Telecom Expense Management Market research is based.
The major companies 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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