Once limited only to a few large companies with vast internal telecom networks and a huge fleet of mobile devices, telecom expense management (TEM) has presently become a necessary practice for enterprises of all sizes, operating across any industry/business domain. Driving the need for effective telecom expense management practices are some revolutionizing trends and the sheer development observed in corporate telecom infrastructures in the past few years.
The trend of allowing integration of personal mobile devices such as smartphones, laptops, and tablets under mobility policies such as bring-your-own-devices and choose-your-own-device (CYOD), for one, has revolutionized the global TEM market in the past few years. The increased integration of mobile devices in internal telecom networks has highlighting the need for presence of a holistic system for monitoring and managing usage and costs of telecom resources being exhausted. Speaking of developments, corporate telecom infrastructures now boast a vast number of communication channels connecting companies to their clients, customers, and employees. The volume of information being exchanged across these channels has also exponentially increased over the years.
TMR findings suggest that these factors will enable the global TEM market expand at a 13.5% CAGR from 2016 to 2024, allowing the market to rise to a valuation of US$4.92 bn by 2024.
TEM Market to Benefit Most from Emerging Markets
North America is presently the leading regional market for telecom expense management and is expected to record the highest revenue generation for the global market over the period between 2016 and 2024. In this relatively mature market, factors such as the extensive usage of mobile devices within enterprises, technologically advanced and thus extremely complex telecom infrastructures, and presence of a large number of TEM providers will favor the future growth of North America TEM market.
However, the global TEM market will witness the most promising growth in emerging regional markets such as Asia Pacific and Middle East and Africa (MEA) in the coming years. In Asia Pacific, presence of a large number of IT services and product companies, rising popularity of BYOD and CYOD policies, and improving telecom and IT infrastructures will drive the need for effective TEM products and services. In Middle East and Africa, the TEM market will gain hold owing to rising digitization of oil and gas industry and heavy investments in the IT and telecom sectors in the past few years.
The TEM market in Asia Pacific is expected to witness an exponential 18.3% CAGR while the MEA market is expected to exhibit an 18.7% CAGR from 2016 to 2024. North America, the current leader in the market, will exhibit a relatively modest 8.9% CAGR over the same period. It is evident that TEM companies will have to align their focus towards MEA and Asia Pacific so as to exploit the enormous growth opportunities these regions promise for the TEM market.
Cost-effective and Flexible Cloud-based Products and Services Gain Prominence
Having offered excellent efficiency, cost benefits, flexibility, and several other benefits to many operational activities so far, cloud-based TEM products and services are also a huge hit among small-, mid-, and large-scale enterprises. Cloud has grabbed the largest share in terms of mode of deployment, accounting for 45.98% of the market in 2015. However, it is expected to witness a slight decline, accounting for 39.86% in the global market by 2024.
The rising popularity of complete outsourcing will be central to the declining market share of cloud services. TMR findings suggest that businesses will offload their TEM operations so as to increase focus on core business processes and put internal resources to effective use for other purposes.Complete outsourcing is expected to register a CAGR of 15.4% from 2016 to 2024.
The market is highly fragmented and features several companies operating amid intense competition. Some of the most prominent vendors in the vendors in the market are Asentinel LLC, Anatole SAS, Ezwim B.V, Calero Software LLC, Valicom Corporation, Tangoe, Inc., WidePoint Solutions Corporation, Inc., and Avotus Corporation.
The telecom expense management (TEM) market report provides analysis for the period 2014–2024, wherein the period from 2016 to 2024 is the forecast period and 2015 is the base year. The report covers all the major trends and technologies playing a key role in telecom expense management market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the telecom expense management market’s growth throughout the above forecast period in terms of revenue (in US$ Bn), across different geographies, including Asia Pacific, Latin America, North America, Europe, and Middle East & Africa (MEA).
The market overview section of the report demonstrates the market dynamics and trends, such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. An impact analysis of key trends has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the TEM market, globally. Moreover, the report provides an overview of the various strategies of key players in the market.
The report segments the global TEM market on the basis of applications into financial management, order management, business intelligence, inventory management, contract management, dispute management, and others. By mode of delivery, the market has been classified into managed services, complete outsourcing, and cloud services. Furthermore, according to the end-use adoption, the TEM market is divided into banking, financial services, and insurance (BFSI); retail; IT and telecommunication; healthcare; transportation and logistics; manufacturing; government and defense; and others. Thus, the report provides in-depth cross-segment analysis of the TEM market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels.
The report also highlights the competitive landscape of the TEM market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive TEM market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the TEM market’s growth.
Anatole SAS, Asentinel LLC, Calero Software LLC, Comview LLC, Cimpl, Ezwim B.V, MDSL, Valicom Corporation, Tangoe, Inc., Veropath Limited (IntelligentComms), WidePoint Solutions Corporation, Inc., and Avotus Corporation are some of the major players operating within the global TEM market profiled in this study. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Telecom Expense Management Market
- Financial Management
- Order Management
- Business Intelligence
- Inventory Management
- Contract Management
- Dispute Management
By Mode of Delivery
- Managed Services
- Complete Outsourcing
- Cloud Services
By End-use Adoption
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecommunication
- Transportation and Logistics
- Government and Defense
- North America
- Latin America
- Asia Pacific
- Middle East and Africa