Global Telecom Expense Management Market Industry Size, Share, Segmentation And Forecast to 2027

Global Telecom Expense Management Market size was valued at US$ 2.80 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 10.5% through 2021 to 2027, reaching nearly US$ 5.63 Bn.

Telecom Expense Management Market Overview:

The Global Telecom Expense Management Market Telecom Expense Management (TEM) services can be used by IT departments to order, support, and manage the costs of large-scale business communications, as well as IT services and inventory. Business intelligence (BI) and reporting are examples of TEM services that can help C-level executives make better strategic decisions. Sourcing management, reporting and business management, dispute management, use management, invoicing management, and ordering and provisioning management are all examples of telecom expense management systems.

Historical & Forecast Period:

Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.

Telecom Expense Management Market Overview and Dynamics:

The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Telecom Expense Management Market segments which include products, applications, and competitor analysis.

Telecom Expense Management has evolved into a must-have strategy for all businesses, regardless of size or industry. The rising demand for efficient telecom expenditure management systems, which has corresponded with the expansion of commercial telecom infrastructures in recent years, is one of the market’s changing trends.
The telecom expense management market is expanding as a result of increased demand for mobile apps, higher acceptance of portable equipment in many businesses, and technological advancements in telecom cost management systems. Furthermore, increased mobile device adoption, spending management intelligence, and the attractiveness of cloud-based services are all contributing to market growth.

The continued trend of integrating individual mobile devices such as smart phones, laptops, and tablets under mobility policies such as choose-your-own-device (CYOD) and bring-your-own-devices for one has altered the industry over the last few years. Furthermore, the growing integration of mobile devices into internal telecom networks has underlined the necessity for a comprehensive system to control and monitor telecoms resource expenditures and consumption.

Tangoe, a complete solution for order, invoicing, inventory, and expenditure management across telecom, mobile, and cloud settings, also reported increase in June 2020, as companies try to minimise expenses and rein in needless spending during the COVID-19 pandemic-induced economic crisis. The company grew its customer base by 16 percent in the first half of 2020, while increasing its retention rate to over 90%. Despite the global epidemic, the company’s success is mostly emblematic of a bigger trend, as businesses increasingly adopt the cost management system as a critical tool to overcome COVID-19-related economic challenges.

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Sourcing Management, Reporting and Business Management, Dispute Management, Usage Management, Invoice Management, Ordering and Provisioning Management, and Others are the different market segments. During the projection period 2021-2027, the invoice management segment is predicted to increase at a CAGR of percent. Invoice management benefits include the avoidance of payment delays and associated difficulties such as vendor relationship risk, work pause, and so on, as well as consistent fast invoice processing and the prevention of errors and data loss.

Banking, Financial Services, and Insurance (BFSI), Consumer Goods and Retail, Healthcare, Manufacturing, IT and Telecom, Media and Entertainment, Transportation and Logistics, and Others are the different segments of the market. By 2027, the Banking, Financial Services, and Insurance (BFSI) segment is estimated to have a market share of%. Service providers are increasingly competing to offer telecom expenditure management services for the BFSI business, giving them a competitive advantage over other end-users. By using these solutions, financial institutions and the insurance industry may save the most money and keep their communication costs under control. Cass Information Systems Inc., Cass Information Systems Inc., Cass Information Systems Inc. For example, helps financial, banking, and insurance organisations manage their whole telecoms infrastructure, including mobility services and BYOD management. Clients of banking institutions will be able to track and compare their telephone costs for specific branches. Meanwhile, insurance clients value the solution’s capacity to track overall expenditures assigned to remote staff, providing a comprehensive picture of their distant costs.

Key Players:

• Vodafone Global Enterprise
• Dimension Data
• Tangoe
• Accenture
• Econocom
• Valicom
• Anatole
• Calero Software LLC
• Asentinel
• Quickcomm Software Solutions
• Rivermine
• ProfitLine
• Invoice Insight
• Avotus
• WidePoint Solutions Corporation Inc.

Regional Analysis:

Regional analysis is another highly comprehensive part of the research and analysis study of the Telecom Expense Management Market presented in the MMR report. Local development plans are often affected by the performance of Telecom Expense Management market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Telecom Expense Management market and these findings have been strategically presented in the report.

Competition Landscape:

Most of the key players present in the Telecom Expense Management Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.

Key questions answered in Telecom Expense Management Market report

  • What was the market size of Telecom Expense Management Market in 2020 and forecast up to 2027?
  • Which is the largest regional Telecom Expense Management Market?
  • What are the major trends followed in Telecom Expense Management Market across different regions?
  • Who is the key Telecom Expense Management Market companies leading the market?
  • What are the key strategies adopted by the leading Telecom Expense Management Market companies in market?
  • Unique data points of this report
  • Statistics on Telecom Expense Management Market penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of Telecom Expense Management Market for various end-use.
  • Notable developments going on in Telecom Expense Management Market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)

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