Farmington, March 09, 2023 (GLOBE NEWSWIRE) -- The Global Telecom Expense Management (TEM) Market Is Expected To Register A CAGR Of 14.5% During The Forecast Period From 2022 To 2030. Telecom expense management is a solution that makes it easy for businesses to keep track of their telecom services and assets through a central database. Also, this business practise helps them verify invoices from vendors and keep track of how much they spend. A telecom expense management solution that is outsourced also helps business owners make their operations run more smoothly. TEM, which stands for "telecom expense management," also helps a company plan its finances.
There are many factors that affect the growth of the telecom expense management (TEM) market around the world. The market's future looks good because more and more people are using mobile devices, which are giving them more and more information about their spending, and because they need this information. But the market hasn't grown as much as it could because solutions from different vendors don't work well together and can't talk to each other as well as they should. In the years to come, telecom expense management (TEM) will have more chances to grow because deployment costs are getting cheaper and the need for solutions that save money is growing.
Request Sample Copy of Report “Telecom Expense Management (TEM) Market Size, Share & Trends Estimation Report By Type (Invoice and contract management, Ordering and provisioning management, Reporting and business management, Sourcing management, Usage management), By Application (Automotive, Banking, Financial Services, and Insurance (BFSI), Consumer goods and retail, Healthcare, Manufacturing, Media and entertainment, Transportation and logistics), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Recent Developments:
- February 2022 - Tellennium, a technology expense management company, announced that its Management of Things (MoT) platform had been completely registered with the US Patent and Trademark Office. MoT is a next-generation telecom expense management platform and service solution for mid-to-large organizations, launched in 2021. MoT is a real-time centralized database that gives users comprehensive information about customer invoice expenses, services, and assets.
- November 2021 - Harris, a global vertical market software provider, adds telecommunication solutions to its portfolio with the acquisition of Seattle-based Globys, Inc. (Globys). The Globys TEM Solution provides telecom expense management capabilities as a technology platform for other TEM providers and a SaaS service for enterprise customers. Both solutions combine customer data, workflows, and customer-specific API integrations with a full range of capabilities to make it easy for business customers to do business online with their telecom partners.
Market Dynamics:
Trends:
More and more people are using mobile devices like smartphones and tablets. This makes it harder and more expensive for businesses to keep track of their telecommunications costs.
Getting used to cloud computing: As more businesses move their IT infrastructure to the cloud, it becomes more important to keep track of telecom costs in a good way.
Data analytics are becoming more popular. Since telecommunications services produce more and more data, businesses are looking for ways to analyse and optimise their spending on telecommunications.
Technology is improving. TEM solutions are getting new technologies like artificial intelligence (AI) and machine learning (ML) that make them more automated and efficient.
Drivers:
Cost reduction: TEM helps businesses cut their telecommunications costs by finding places where they waste money or don't use their resources well.
Better visibility: TEM gives businesses more information about how they use and spend money on telecommunications, which helps them make better choices.
Compliance: TEM solutions help businesses follow the law and avoid getting in trouble if they don't.
Simplifying: TEM makes it easier to keep track of telecommunications costs by putting data in one place and automating processes.
Opportunities:
As more affordable TEM solutions become available, small and medium-sized businesses (SME) are becoming a bigger market for TEM providers.
As businesses around the world grow, the need for telecommunications costs to be managed centrally grows. This is a way for TEM providers to make money.
Integration with other business systems: TEM solutions can be linked to other business systems like ERP and CRM, which gives TEM providers a chance to grow their services.
Outsourcing: Many companies outsource their TEM tasks, which gives TEM providers the chance to offer managed services.
Regional Outlook:
During the forecast period, the Asia-Pacific region is likely to see a lot of market growth. This is because there are more mobile users, bring your own device (BYOD) laws are becoming more popular, the population is growing, and the IT and communications industries are doing well. There are a lot of IT companies, BYOD and CYOD rules are becoming more popular, and IT and telecom infrastructures are getting better. All of these things will drive the need for effective telecom expense management products and services.
Also, the demand for these solutions is likely to grow as the region's biggest companies continue to work together. For example, China Unicom, one of the top mobile network service providers in the world based on the number of users, and Alibaba Group Holding have announced that they will work together on networking services. This will likely help the telecom expense management (TEM) market in the region grow.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 14.5% from 2023 to 2030. |
| By Type | Invoice and contract management, Ordering and provisioning management, Reporting and business management, Sourcing management, Usage management, Others |
| By Application | Automotive, Banking, Financial Services, and Insurance (BFSI), Consumer goods and retail, Healthcare, Manufacturing, Media and entertainment, Transportation and logistics, Others |
| By Companies | Vodafone Global Enterprise, Tangoe, Dimension Data, Sumeru Equity Partners (MDSL & Telesoft), Calero, Accenture, CGI, Valicom, Asentinel, WidePoint Corporation, Avotus, The Northridge Group, CompuCom, Tellennium, Harris |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Vodafone Global Enterprise, Tangoe, Dimension Data, Sumeru Equity Partners (MDSL & Telesoft), Calero, Accenture, CGI, Valicom, Asentinel, WidePoint Corporation, Avotus, The Northridge Group, CompuCom, Tellennium, Harris, and others.
By Type
- Invoice and contract management
- Ordering and provisioning management
- Reporting and business management
- Sourcing management
- Usage management
- Others
By Application
- Automotive
- Banking
- Financial Services
- and Insurance (BFSI)
- Consumer goods and retail
- Healthcare
- Manufacturing
- Media and entertainment
- Transportation and logistics
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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