The telecom expense management market is anticipated to showcase rapid growth. Rising demand for mobile applications, increasing popularity of portable equipment’s among users and forthcoming cutting-edge advancements in telecom industry are some of the major factors driving the growth of the global telecom expense management market. Further increasing adoption of mobile devices, visibility into expense management, and growing popularity of cloud-based services are aiding the market growth. According to a recent study report published by the Market Research Future, the global market of telecom expense management is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The global telecom expense management market is projected to witness a rapid growth during the forecast period. High growth opportunities in emerging economies and rising adoption of portable device are the major factor driving the growth of the market. Moreover, increasing demand for telecom expense management across various industry verticals such as IT & telecommunication, retail, manufacturing, transport & logistics is fueling the growth of the global market.
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Major key Players
Accenture PLC (Ireland),
Avotus Corporation (Canada),
Control Point Solutions (U.S.),
Invoice Insights (U.S.),
Ezwim B.V, MDSL (The Netherlands),
Econocom (Belgium) are some of the prominent players at the forefront of competition in the Global Telecom Expense Management Market and are profiled in MRFR Analysis.
According to Market Research Future Analysis, the global Telecom Expense Management Market is estimated to generate revenue of approximately USD 4 billion by 2023 growing at a CAGR of 18% during the forecast period 2017-2023.
February 14, 2018 – Tangoe is known as a leading provider of Telecom Expense Management (TEM) and Managed Mobility Services (MMS) solutions. The company announced the expansion of its Tangoe advisory services. The expanded services will enhance enterprise by optimizing their current expense management solutions with strategic sourcing of provider contracts, network transformation and expense management consulting.
June 16, 2017 – Avotus Corporation a prominent player in telecom expense management market, published that its 90% of the clients adopting Avotus wireless expense management team, are either or completely satisfied with the service. On the other hand, 97% of those users interfacing with the enhanced usage reporting team also responded in the same manner.
The market of Telecom Expense Management market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Segmentation by Delivery Modes: Comprises hosted, licensed software, managed services, complete outsourcing and others.
Segmentation by Solution: Comprises dispute management, inventory management, invoice and contract management, procurement management, and others.
Segmentation by Services: Comprises into hosted, licensed software, managed service, and others.
Segmentation by Organization Size: Comprises small & medium enterprises and large enterprises.
Segmentation by Verticals: Comprises into automotive, consumer goods & retail, BFSI, transport and logistics, and others
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
The global telecom expense management market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the telecom expense management market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American telecom expense management market owing to the presence of large number of established key players such as Avotus Corporation (Canada), Control Point Solutions (U.S.), Invoice Insights (U.S.), MBG (U.S.), Profitline (U.S.), Tangoe (U.S.), IBM (U.S.) in this region. Due to the high adoption of portable device and rising telecom expense of enterprises in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the telecom expense management market.
In the global telecom expense management market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of portable device, emerging economies and technological advancement in telecom expense management in the region.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Telecom Operators
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