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Telecom Expense Management Market Trends

ID: MRFR//3345-HCR | 100 Pages | Author: Ankit Gupta| July 2024

Telecom Expense Management Market Overview


Telecom expense management is a service preferred by enterprises to optimize their telecom cost, make payment for their bills, manages your invoice and procurements, and also handles your inventory management. All these things are carried on a single platform. It has become a type of essential service for every type of enterprise whatever its size maybe, but should be working across any business or industry domain. The ongoing trend of consolidating single electronic devices like mobile phones, laptops, or tablets under various mobility policies like cyod and byod, stands for choosing your device and bring your device respectively.


This consolidation thing has been pointing out the necessity towards the presence of an exhaustive system for monitoring and managing costs and usage of telecom services and resources. The global telecom expense management market is expected to grow at a cagr of approximately 10.20% during the forecast period 2022-2030.


Figure 1: Telecom Expense Management Market Size, 2022-2030 (USD Billion)


Telecom Expense Management Market


Covid-19 Analysis


The coronavirus pandemic has given a very tough time to most of the manufacturing, developing, production, and logistic units of the market. The telecom expense management market industry also observed a tolerable decrease in its growth rate. But the factors like the rising number of users of mobile phones, adoption of the latest technological advancement are still helping the telecom expense management market in retaining its growth. The major key players of this market came up with more advanced services and solutions that will help the enterprises to take control of unnecessary expenses especially during this downfall of the economy that has been brought by the covid-19 pandemic and restrictions imposed due to it. Telecom expense management software is considered to be a censorious tool that will help the companies to tackle the breeze created by the covid-19 pandemic. Also, it is foreseen that once the organizations are back at work in the offline mode, the telecom expense management market will grow rapidly and bounce back with a boom.


Market Dynamics Drivers


Today if we observe every single person is using a mobile phone and they want to keep track of everything happening in their lives with the help of various mobile applications like the expenses incurred by them in a particular month, tracking their workouts, etc. So the rising demand for mobile applications that can track your expenses is the major factor driving the telecom expenses management market growth. Also in this world of uncertainty, everyone wants to keep their eye on their regular expense, so this need of observing and keeping a record of them is another major factor that is helping the telecom expense management market growth. In the modern era, every single person wants to move their data with them so everyone tries to use portable devices for that purpose, so the rising vogue of using portable equipment in business organizations will drive the market growth to a greater extent. In the upcoming times, there will be a lot of development in the field of telecom expense management as its usage is increasing day by day.


Restraints


Interoperability is a kind of quality of computer systems or software to exchange information and made use of it. But the only factor that is holding back the telecom expense management market growth is lack of interoperability which is due to compatibility differences between the solutions and services provided by different key vendors of this market. Like the basic example of this thing is ios based mobile phones cannot share their data with android based mobile phones. Many key players of the telecom expense management market are joining hands with app developing it companies to bring up new solutions and services to tackle this problem of interoperability.


Technology Analysis


Most of the companies were seen migrating their critical business infrastructures to cloud-based systems and converting them into an it api-based infrastructure. And when we talk about cloud-based systems it is 100% sure that it has to face data security issues as the data usually stored in cloud servers are exposed to hacking and this factor, in turn, may hinder the growth of the market. In the past 8 years, the impact of cybercrimes has increased by 85 % and the time to get out of those cyber-attacks is even doubled. The basic motive behind using cloud-based models instead of the on-premises system is that they can be easily integrated into the intermediate applications across the entire communication sector.


Study objectives



  • to take the viewpoint of various industry experts and leaders into consideration and anticipate the compound annual growth rate and market growth rate by the end of the global forecast in 2030.

  • to take out a competitive market outlook and inspect the output models of key market players, worldwide.

  • to examine the various market dynamics like trends, drivers, and opportunities that are most likely to play a role in helping the market and its different segments growing in the domestic as well as international market.


Segment Overview


The telecom expense management market share is expected to witness significant growth owing to the performance of different market segments. Among all segments, the it and telecommunications segment will hold the largest market share of the telecom expense management market during the forecast period as there is an increase in it infrastructure as well as expenditure on mobile devices. The communication channels for connecting employees, customers, and clients are getting advanced day by day. For an amplifying use the market is segmented into the following on different bases:



  • Based on organization size, it has small and medium scale enterprise and large scale enterprise.

  • Based on service, it has hosted service, licensed software service, and managed service.

  • Based on the solution, it has dispute management, inventory management, invoice and contract management, and procurement management.

  • Based on end-user, it has an automobile, bfsi, transport, retail and consumer goods, and logistics.


Regional Analysis


The telecom expense management market industry movements are remarkably working in 3 major regions of the world europe, asia pacific, north america, and the rest of the world. North america is anticipated to witness tremendous growth during the forecast period. The reason for telecom expense management market growth is the rising adoption of technological advancements and increasing demand for the development of mobile applications. The usa will have a major contribution to the growth of the telecom expense management market in this region and will hold the biggest share of this market in terms of both revenue and usage of mobile applications. Due to the rapidly increasing population and rising number of mobile users, the asia pacific region will be the second-largest telecom expense management market. With the growing popularity of byod that brings your device and growing it and telecommunications, the middle east region is expected to hold the third-largest telecom expense management market share.


Competitive Landscape


To get a detailed and profound idea about the telecom expense management market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the globe. There are various strategies adopted by key players in the telecom expense management market like technology launches, acquisitions, and partnerships to expand their business and stable themselves in the global market. The prime players of the telecom expense management market are:



  • accenture plc (ireland)

  • avotus corporation (canada)

  • control point solutions (u.s.)

  • invoice insights (u.s.)

  • mbg (u.s.)

  • profitline (u.s.)

  • tangoe (u.s.)

  • ibm (u.s.)

  • ezwim b.v, mdsl (the netherlands)

  • econocom (belgium)


Recent Developments



  • in may 2018, reflector, innovative analytics, and reporting solutions for (uc&c) that is unified communications and collaborations digital platforms were launched by avotus corporation which is one of the leading providers of communications management solution.

  • in july 2020, it was announced by tangoe, a prime player of telecom expense management market (which also provides its customers with managed mobility services), that they have completed iso 27001 certification primarily exhibiting that to protect the organization's data it has been investing in people, technologies and procedures.


Intended Audience



  • technology investors

  • research/consultancy firms

  • technology solution providers

  • government bodies

  • telecom operators


Report Overview


The telecom expense management market report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report takes into consideration the impact of covid-19 on the key players of the telecom expense management market industry. The report also informs us about the segmentation of the market on a different basis and how a competitive environment is created among the key players around the globe. At last, the report shows some recent developments in the field of telecom expense management market.

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