Telecom expense management market to grow a compound annual growth rate (CAGR) of 16.1% from 2017 to 2021

MarketsandMarkets forecasts the TEM market to grow from $1.14 billion in 2014 to $3.43 billion by 2019. This represents a Compound Annual Growth Rate (CAGR) of 16.1% from 2014 to 2019.

With the increasing use of telecom services and the increasing cost that is associated with providing these services, enterprises are looking forward to solutions which are able to reduce this expenditure and also help enterprises to maintain the telecom infrastructure so as to maximize the use of these infrastructures and improve the efficiencies of business processes. It is expected that future outlook for growth in the TEM market will continue to remain bright as businesses continue to search for these solutions to reduce their telecom expenses.

There has been an increasing incorporation of telecom related services by organizations to bolster communication across their various business units, partners, and clients located at different geographic locations. In addition to the fast growing globalization of businesses over the past decade, incorporation of the latest communication techniques have become essential for businesses to keep in sync with the highly dynamic market environment. However, the growing telecom expenses from the integration of these latest telecom-enabled services have compelled companies to choose cost-effective Telecom Expense Management (TEM) solutions.

The major factors driving the Telecom Expense Management market are increasing adoption of mobile phones, gaining visibility over expenses, and need for visibility over expenses. Lack of interoperability and instances of hurdles in compatibility between solutions from different vendors also pose as a major challenge for the TEM market.

Low deployment cost and growing demand for cost-efficient TEM solutions provide high growth opportunities in this market. Companies such as Accenture, Anatole, CGI, CSC, Dimension Data, Econocom, IBM, MDSL, Tangoe, Valicom, and Vodafone Global Enterprises are some of the leading players in this market.

READ MORE: Why EVERY company (even small ones) should outsource Telecom Expense Management services

MarketsandMarkets has segmented the TEM market by type of solutions: sourcing management, reporting and business management, dispute management, usage management, invoice management, ordering and provisioning management, and other solutions; by service delivery mode: hosted, licensed software, managed services, and complete outsourcing; by end user: small and medium businesses and enterprises; by vertical: automotive, Banking, Financial Services, and Insurance (BFSI), consumer goods and retail, healthcare, manufacturing, media and entertainment, Information Technology (IT) and telecom, transportation and logistics and other verticals; and by region: North America (NA), Asia-Pacific including Japan (APAC), Europe, Middle East and Africa (MEA), and Latin America (LA).

READ MORE: How Your Company Can Benefit from Telecom Expense Management?

The report covers all the  major sub-segments of the TEM market and provides the quantitative (market size  and market growth) and qualitative (trends, analysis, and insights) for  those segments.

MarketsandMarkets forecasts the TEM market to grow from $1.14 billion in 2014 to $3.43 billion by 2019. This represents a Compound Annual Growth Rate (CAGR) of 16.1% from 2014 to 2019.

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