Telecom Expense Management Market Share Growing at a CAGR of 12.7% Reach USD 9.7 Billion by 2032

Allied Market Research published a new report, titled, "Telecom Expense Management Market Share Growing at a CAGR of 12.7% Reach USD 9.7 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Surge in demand for managing the increasing telecom expense. Moreover, growing need for expense visibility and cost reduction is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, security issues and a lack of interoperability limit the growth of the telecom expense management market.

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The global telecom expense management market was valued at USD 3 billion in 2022, and is projected to reach USD 9.7 billion by 2032, growing at a CAGR of 12.7% from 2023 to 2032.

The telecom expense management market is segmented on the basis of type, deployment mode, enterprise size, end user, and region. On the basis of type, the market is categorized into dispute management, invoice management, ordering & provisioning management, sourcing management, usage management, and others. By deployment mode, it is divided into on-premise and cloud. On the basis of enterprise size, the market is classified into large enterprise and small & medium-sized enterprise. On the basis of end user, the market is segregated into BFSI, consumer goods & retail, IT and telecom, healthcare, manufacturing and automotive, and others. By region, the market is analyses across North America, Europe, Asia-Pacific, and LAMEA.

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By deployment mode, the on-premise segment accounted for more than two-thirds of the global telecom expense management market share in 2022, and is expected to rule the boost by 2032, owing to the integration of on-premise solutions with hybrid models, allowing organizations to benefit from both the control and customization of on-premise deployments and the flexibility and scalability offered by the cloud. However, the cloud segment would also display the fastest CAGR of 15.0% throughout the forecast period, owing to the increasing emphasis on real-time analytics and reporting, allowing organizations to make informed decisions on-the-fly and respond swiftly to changing telecom usage patterns.

By enterprise size, the large enterprise segment accounted for nearly two-thirds of the global telecom expense management market share in 2022, and is expected to rule the boost by 2032, owing to the increasing adoption of advanced analytics and machine learning within TEM solutions for large enterprises. However, the small and medium-sized enterprise segment would also display the fastest CAGR of 14.5% throughout the forecast period, owing to the integration of automation and artificial intelligence into TEM processes, enabling SMEs to streamline telecom expense tracking, optimize usage, and identify potential cost savings.

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By region, North America garnered the highest share in 2022, holding more than one-third of the global telecom expense management market revenue in 2022, and is projected to retain its dominance by 2032, owing to increasing complexity of telecom services, particularly with the rollout of 5G networks, has fueled the demand for TEM solutions that can effectively manage the intricacies of these advanced technologies. The Asia-Pacific region would also portray the fastest CAGR of 16.3% during the forecast period, owing to the increasing adoption of 5G technology across various countries, leading to a surge in demand for TEM solutions that can effectively manage the complexities associated with the rollout of advanced telecommunications services.

The key players profiled in the telecom expense management industry analysis are CGI Inc., WidePoint Corporation, Tangoe, Vodafone Group Plc, AVOTUS, Calero, Sakon, Upland Software, Inc., and TeleManagement Technologies, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the telecom expense management industry.

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COVID-19 Scenario

● The COVID-19 pandemic has significantly impacted telecom expense management (TEM) by reshaping the way organizations approach and manage their telecom expenses. The widespread shift to remote work during the pandemic has altered communication patterns, device usage, and data consumption for businesses.

● With employees relying more on mobile devices and remote connectivity, there has been an increased demand for flexible and scalable TEM solutions to adapt to these changes.

● The pandemic has highlighted the importance of TEM in providing organizations with real-time visibility into their telecom expenses, enabling them to optimize costs and ensure efficient resource allocation during uncertain economic times.

● The economic challenges posed by the pandemic have driven businesses to scrutinize their budgets more closely, making TEM solutions crucial for identifying cost-saving opportunities and enforcing policies to control expenses.

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