Dublin, July 11, 2023 (GLOBE NEWSWIRE) -- The "Telecom Expense Management: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Telecom Expense Management estimated at US$3.4 Billion in the year 2022, is projected to reach a revised size of US$7.9 Billion by 2030, growing at a CAGR of 10.9% over the analysis period 2022-2030.
Cloud Services, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$2.6 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Complete Outsourcing segment is readjusted to a revised 13% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 13.2% CAGR
The Telecom Expense Management market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$661.6 Million by the year 2030 trailing a CAGR of 13.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 10.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2030.
Select Competitors (Total 115 Featured) -
- Accenture plc
- Avotus Corporation
- Calero-MDSL
- Cass Information Systems, Inc
- CGI GROUP INC.
- CompuCom Systems, Inc.
- Dimension Data
- Econocom Group SE
- Globys, Inc.
- International Business Machines Corporation
- Tangoe
- Valicom
- WidePoint Solutions Corporation Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.4 Billion |
| Forecasted Market Value (USD) by 2030 | $7.9 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Telecom Expense Management - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
- How the IT Industry Has Been Impacted by the Pandemic & What's the New Normal?
- Pandemic Brings to Light the Significance of Telecom Expense Management (TEM) for IT and Telecom Departments
- As Enterprises Embrace Remote Work Model, Companies Adopt TEM Solutions to Contain Costs
- WFM (Work from Home) Employees as a % of the Total Workforce in Select Countries for the Years 2019 and 2020
- An Introduction to Telecom Expense Management
- Growing Importance of Telecom Expense Management (TEM) in Highly Connected World
- Global Market Prospects & Outlook
- Developed Regions Lead, Developing Economies to Lead Future Growth
- Competition
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Myriad Benefits of Telecom Expense Management Tools to Propel Market Growth
- Need to Gain Better Visibility over Communication Technology Spending to Boost Market
- Highly Complex Nature of Telecom Expenses Amplifies Significance of TEM Tools in Cutting Costs
- TEM Helps Achieve Optimal Value from Telecom Assets
- Telecom Expense Management Evolves into Technology Expense Management
- Pandemic-Induced Economic Downturn Provides Thrust to TEM Market
- Globalization of Businesses & Workforce Decentralization Provide a Solid Foundation for Wider Adoption of TEM Solutions
- Global Workforce Population: Percentage Breakdown of Employees by Nature of Work for 2009, 2017, & 2024
- Rising Deployment of Telecom-based Services across Enterprise Units Enhances Significance of TEM Solutions
- Rising Adoption of Mobile Communication Devices in Enterprises Drives Adoption of TEM
- Rapid Proliferation of Smartphones Lends Traction to TEM Market
- Global Smartphone Shipments in Million Units: 2016-2021
- Smartphone Penetration Rate as Share of Total Population: 2016-2021
- Global Mobile Internet Market: Percentage Breakdown of Revenues by Mobile Internet Category (in %) for 2020
- Evolving Mobile Technologies Support BYOD Implementation in Enterprises, Driving Importance of TEM Solutions
- Key Factors Encouraging BYOD/COPE/COBO Trend among Enterprises Ranked by Importance Attached by Enterprises
- Next Generation 5G Network Technology to Transform Enterprise Mobility, Fueling Need for TEM Solutions
- Breakdown of Network Latency (in Milliseconds) by Network Type
- 5G Smartphone Sales in Million Units: 2019-2021
- Global Smartphone Subscription Breakdown by Technology for 2019 and 2025
- Managed Mobility Services Hold Potential in Enhancing Technology Expense Management
- Global Managed Mobility Services Market (in US$ Million) by Geographic Region for 2020 and 2027
- TEM Software Facilitates Easy Review of Expense Data
- Preference for Single Platform on the Rise, Local Resources Critical to TEM Vendors
- Notable Trends Influencing Growth in the Telecom Expense Management Market
- Technology Trends Impacting TEM Market
- Innovations Pave the Way for Growth in TEM Market
- TEM Offers Costs Savings for the Healthcare Sector
- Small and Medium Businesses (SMBs) to Boost Long-term Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ozrk8j
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