Global Telecom Expense Management Market 2018: Latest Innovations, Drivers, New technology, Challenges By 2025
According to a new report published by Reports Monitor titled, “Global Telecom expense management market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the Telecom expense management market market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Telecom expense management (TEM) is used to manage fixed line voice, wireless & wire-line services and data environment to reduce cost and risk on a single platform. Key players are focusing on major factors such as money, time and accurate management of inventory for marketing their products.
Major factors which are propelling the growth of telecom expense management market are: growing demand for communication mediums to connect with employee, clients and customers. Further, the rapid growth of mobility and the related Machine to Machine (M2M) and Bring Your Own Device (BYOD) phenomena which are relatively new trends, and legacy TEM market solutions are also leading to the market growth. Furthermore these technologies are successfully used to address primarily traditional wire line telecom expenses.
The global telecom expenses management market is majorly segmented on the basis of application, mode of delivery, end-users adoption. Based on application the worldwide TEM market is bifurcated into financial management, sourcing management order management, business intelligence, inventory management, contract management, dispute management. Further, based on mode of delivery TEM market is divided into managed services, complete outsourcing, cloud services, while based on end-users this market is segmented into Banking, Financial Services, and Insurance (BFSI), retail, IT and telecommunication, health-care, transportation and logistics, manufacturing, government and defense.
The global Telecom expense management market is majorly studied across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Focus on growth across regional markets such as Asia Pacific and Middle east and Africa has considerably increased due to the thriving enterprise sector and globalization of native companies. North America is currently the leading regional market for the worldwide telecom expense management and is anticipated to grow at significantly highest revenue generation in the coming years.
The major key players operating in the market are: Asentinel LLC, Anatole SAS, Ezwim B.V, Calero Software LLC, Valicom Corporation, Tangoe, Inc., WidePoint Solutions Corporation, Inc., Avotus Corporation, Accenture, IBM, CGI, Tangoe and CSC.
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