Telecom Expense Management Market: To Rise To A Valuation Of Us$4.92 Bn

The global telecom expense management (TEM) market is envisaged in a report by Transparency Market Research (TMR) to hold a significantly fragmented nature for its vendor landscape. Use of multiple delivery channels for operation could be commonly observed in regional and domestic markets. Taking into account their flexibility and cost benefits, cloud-based services may welcome the shift in the market from licensed software products. Vendors could receive business from enterprises that show preference for external resources in order to boost their core business processes. This is expected to strengthen demand for TEM process outsourcing. The market marks the presence of top companies such as Ezwim B.V., Anatole SAS, and Asentinel LLC.

Report Detail: https://www.transparencymarketresearch.com/telecom-expense-management-market.html

TMR projects the global TEM market to be valued at a US$4.92 bn by the completion of 2024, growing at a 13.5% CAGR during the forecast period 2016-2024. By mode of delivery, cloud services could secure a king’s share of 39.8% by the final forecast year. Regionally, North America is envisioned to take the driver’s seat of the market while expanding at a CAGR of 8.9%.

Adoption of Advanced Communication Channels Augments Demand

Difficulty in manual monitoring of telecom networks in large as well as small and medium-sized enterprises (SMEs) and their intensely complex nature are predicted to increase the need for TEM. Massively developing corporate telecom infrastructure and increasing integration of mobile devices with enterprise networks could be primary reasons for complexity of telecom networks. There could be a high requirement of efficient TEM solutions due to improved adoption of advanced communication channels by enterprises for connecting with clients and employees.

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Advancement of Digitalization Expected to Cause TEM to Lose Traction

Of course, there are various benefits of using TEM, but could it be a victim of digitalization? Expensive operational costs to insure, secure, configure, update, and maintain interoperability is forecasted to discourage adoption of TEM in the near future. Furthermore, complex data reconciliations and long implementation times could be other factors restricting the growth of the international TEM market.

However, the significance of TEM could be reinstated as enterprises are compelled by tight government regulations to use reliable monitoring and recordkeeping solutions for maintaining clarity in operations. Increased knowledge about TEM in better management of payments to telecom companies is foretold to create strong opportunities in the international market. Moreover, need to hire different telecom companies as per carrier influence and regional trends as enterprises look to expand their footprint globally could boost demand for TEM.

Report TOC: https://www.transparencymarketresearch.com/report-toc/3752

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.