Telecom Expense Management Market to reach US$7.19 bn by 2024

Telecom expense management (TEM) is a software solution used to manage telecommunications and the devices used for it. TEM helps reduce the cost of enterprise telecom and at the same time increases its efficiency by automating various processes involved in telecom management. With the increased use of portable devices within enterprises, device management has become a key responsibility for enterprises. TEM provides device management solutions that cover both wired and wireless devices, helping enterprises control their expenses on telecom. TEM also provides analytics and reporting solutions through which enterprises can gain critical information related to telecom usage. Using this information, important decisions such as closing unused lines and optimizing underused lines are taken to improve the performance of the existing telecom infrastructure. The global TEM market was valued at US$ 1.40 Bn in 2015 and is forecast to expand at a CAGR of 19.9% from 2016 to 2024, reaching a value of US$ 7.19 Bn in 2024.

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Enterprises worldwide are implementing TEM solutions as a substantial part of their revenue is being spent on enterprise telecom requirements. Increasing demand for enterprise mobility is expected to drive the TEM market. Major TEM service providers profiled in the report include 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.

The global TEM market has been segmented on the basis of application, mode of delivery, end-use adoption, and geography. On the basis of application, the market is segmented into financial management, order management, business intelligence, inventory management, contract management, dispute management, and others. Enterprise mobility policies such as bring your own device (BYOD) and choose your own device (CYOD) drive the telecom expense management market. Managing the inventory of a rising number of portable devices is expected to increase the popularity of inventory management during the forecast period.

Based on various modes of delivery, the market is classified into managed services, complete outsourcing, and cloud services. Cloud services was the largest segment of the TEM market in 2015. Enterprises are implementing TEM solutions with the help of low-cost cloud services. Complete outsourcing is considered the most promising mode of delivery for TEM, as enterprises want to avail the services of experts and free their own valuable resources. Also, in accordance with end-use adoption the telecom expense management market is further divided into the banking, financial services, and insurance (BFSI); retail; IT and telecommunication; healthcare; transportation and logistics; manufacturing; government and defense; and others segments. BFSI was the largest segment of the telecom expense management market in 2015. Reduced paperwork due to process automation has increased TEM’s popularity in the BFSI sector.

North America led the TEM market in 2015 and is expected to remain dominant throughout the forecast period from 2016 to 2024. The primary drivers for the TEM market in North America are growing demand for enterprise mobility and increasing telecom costs. Asia Pacific and MEA are anticipated to experience promising growth in the TEM market in the coming years.

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