Telecom Expense Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Telecom Expense Management Market is segmented by Solution (Invoice Management, Sourcing Management, Business Management), Service (Hosted Service, Managed Service), End-user Industry (BFSI, Consumer Goods & Retail, Manufacturing, IT & Telecom), and Geography.

Market Snapshot

Telecom Expense Management Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 14.5 %

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Market Overview

The Telecom Expense Management Market is expected to witness a CAGR of 14.5% over the forecast period (2020 - 2025). Telecom Expense Management has become an essential practice for the enterprises irrespective of its size, operating across any business domain/industry. The increased requirement for efficient telecom expense management practices is one of the transforming trends in the market coupled with the expansion that has been observed in the business telecom infrastructures in the past few years.

  • The increasing demand for mobile applications, the growing adoption of portable equipment in multiple enterprises, and the technological advancements in the telecom expense management solutions are driving the growth of the telecom expense management market. Furthermore, increased adoption of mobile devices, visibility into expense management, and the growing popularity of cloud-based services are also aiding the market growth.
  • The ongoing trend of integration of individual mobile devices such as smartphones, laptoops, and tablets, under mobility policies such as the choose-your-own-device (CYOD), and bring-your-own-devices for one, has been transforming the market over the past few years..
  • Also, the augmented integration of mobile devices in the inner telecom networks has been majorly highlighting the requirement towards the existence of a holistic system for managing and monitoring costs and usage of telecom resources being bushed.
  • Moreover, in Jun 2020, Tangoe, a complete solution for the order, invoice, inventory and expense management across the telecom, mobile and cloud environments, reported growth, as companies are putting efforts to take control of the expenses and rein in unnecessary spending during the economic downturn that has been brought by COVID-19 pandemic. The company grew its customer base by 16%, while increasing its retention rate to more than 90% in the first half of 2020. The company's growth, despite the global pandemic, is primarily reflective of a broader trend as companies are increasingly employing the expense management solution as a critical tool to help battle the economic headwinds that has been brought on by COVID-19.

Scope of the Report

Telecom expense management primarily refers to a service that is being adopted by various types of enterprises for optimizing their telecom cost, handling inventory management, bill payment, procurement and invoice management, and other functions carried on a single platform. There has been increased incorporation of telecom related services by the organizations in order to bolster the communication across various business units, partners, and clients located at different geographic locations.

By Solution
Invoice Management
Sourcing Management
Business Management
Dispute Management
Other Solutions
By Service
Hosted Service
Managed Service
By End-user Industry
BFSI
Consumer Goods & Retail
Manufacturing
IT & Telecom
Healthcare
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

BFSI Segment is Expected to Witness Significant Growth

  • There has been a growing competition among the service providers to improve telecom expense management service available for the BFSI sector thereby helping them to gain a competitive edge across other end-users.
  • With the usage of these solutions, the financial institutions and the insurance sector can avail maximum savings and keep their telecom bills under control. For instance, Cass Information Systems Inc. is helping finance, banking, insurance enterprises to fully manage their telecoms, including mobility services and BYOD management.
  • Banking clients get the ability to track their telecom costs for individual branches and can also benchmark them against one another. Meanwhile, the insurance clients appreciate the solution's ability to track the total costs assigned to remote employees for clear visibility into remote costs.
  • Also, the increasing demand for better mobile applications for banking services and the increased penetration of IoT devices coupled with a shift towards 4G networks, efforts made towards making improved APIs for seamless user experience, and the growing need of telecom operators to monetize their advanced services are also some of the major factors that are anticipated to drive the market growth.
  • Moreover, the growing adoption of advanced technologies, along with the increasing applications of mobile internet in day-to-day operations, has fueled the cutting-edge competition among various technological advancements across BFSI in the booming era of LTE and IoT, which may further propel the demand in the market.
Picturetem2.png

Asia- Pacific is Expected to Witness Significant Growth

  • The Asia Pacific region is expected to witness significant growth opportunities in the market during the forecast period primarily owing to the increasing population, a growing number of mobile users, the rising popularity of bring your own device (BYOD) policies, and flourishing IT & telecommunication. The existence of a vast number of IT services and product companies, the growing popularity of CYOD and BYOD policies, and enhancing IT and telecom infrastructures will fuel the requirement for efficient telecom expense management products and services.
  • The region is also been experiencing a significant shift in the telecom front, where the majority of the organizations have migrated their business-critical infrastructure to the cloud, owing to the penetration of hybrid IT API architecture.
  • Tangoe, Inc., a prominent provider of enterprise telecommunications expense management (TEM) software and services, has signed a partnership agreement with Affinitiv, a services company providing management, consulting, and technology services to many of the largest companies in Asia-Pacific.
  • Moreover, the ongoing advancement in the digital economy strategy among the developing nations are continuing to take shape, that has clearly fueled the cloud-first approach across the entire region. These initiative majorly aims to move the legacy operations from on-premise systems to the cloud-based model in order to integrate with the middleware application across the entire communication sector.
  • Further, the ongoing collaborations between the prominent players of the region are also anticipated to drive the demand for these solutions. For instance, China Unicom, one of the largest mobile network service provider, by number of subscribers, and Alibaba Group Holding planned to collaborate in the field of networking services, which is further expected to drive the market growth across the region.
telecom region.png

Competitive Landscape

The telecom expense management market is highly competitive owing to the presence of multiple vendors in the market. The market appears to be moderately concentrated. Several key players in the market are putting constant efforts in order to bring product innovations. Major companies are entering into strategic collaborations, and are also expanding their footprints in developing regions to consolidate their positions in the market.

  • July 2020 - Tangoe, a prominent player in the enterprise technology expense management and managed mobility services, announced that it has successfully completed certification to the ISO 27001 standard, primarily demonstrating that the company has been investing in the people, processes, and technology, primarily to protect the enterprise's data.
  • May 2020 - Avotus Corporation, a leading provider of communications management solutions, launched ReflectR, innovative analytics, and reporting solutions for Unified Communications and Collaboration (UC&C) platforms.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Adoption of Mobile Phones and Other Portable Devices

      2. 4.2.2 Significant Cost Reduction and Expense Visibility

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Interoperability Due to Set Industry Standards

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porters Five Force Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Impact of COVID-19 on the Maket

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Solution

      1. 5.1.1 Invoice Management

      2. 5.1.2 Sourcing Management

      3. 5.1.3 Business Management

      4. 5.1.4 Dispute Management

      5. 5.1.5 Other Solutions

    2. 5.2 By Service

      1. 5.2.1 Hosted Service

      2. 5.2.2 Managed Service

    3. 5.3 By End-user Industry

      1. 5.3.1 BFSI

      2. 5.3.2 Consumer Goods & Retail

      3. 5.3.3 Manufacturing

      4. 5.3.4 IT & Telecom

      5. 5.3.5 Healthcare

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Accenture PLC

      2. 6.1.2 Avotus Corporation

      3. 6.1.3 Tangoe, Inc.

      4. 6.1.4 Calero Software LLC

      5. 6.1.5 WidePoint Solutions Corporation

      6. 6.1.6 Valicom Corporation

      7. 6.1.7 Ezwim B.V.

      8. 6.1.8 Upland Software, Inc. (Cimpl)

      9. 6.1.9 CGI Inc.

      10. 6.1.10 TeleManagement Technologies, Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Telecom Expense Management Market market is studied from 2018 - 2026.

The Telecom Expense Management Market is growing at a CAGR of 14.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Accenture PLC, Avotus Corporation, Calero Software LLC, Tangoe Inc., Valicom Corporation are the major companies operating in Telecom Expense Management Market.

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