04-15-2017 08:22 AM CET - IT, New Media & Software

Asia Pacific and MEA to Emerge as Most Attractive Investment Hubs for Telecom Expense Management

Press release from: TMR

The increased integration of mobile devices in internal telecom networks owing to mobility initiatives such as bring-your-own-device (BYOD) and choose-your-own-device (CYOD) has brought phenomenal changes to the overall dynamics of the global telecom expense management (TEM) market in the past few years. Devised majorly with the view of handling organization-level fixed-line telecom costs, TEM systems have evolved to become more compatible to flexible mobility components in workplaces. High level of compliance with the diverse needs of today’s rapidly rising and complex organizational telecom expenses will be a major determinant of success for companies operating in the highly dynamic and competitive global TEM market, states Transparency Market Research in a recent report.

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The competitive landscape is very fragmented and individual TEM vendors offer their services and products through multiple delivery models. Licensed software products are being largely replaced by cloud-based services owing to vast cost savings and high flexibility. TEM process outsourcing is also gaining increased attention from organizations that prefer to pay more attention to the development of core business processes and utilizing internal resources towards internal development and enhancement practices.

Rising Complexity of Internal Telecom Networks Drives Demand for Holistic TEM Solutions

Owing to the integration of mobile devices in internal enterprise telecom networks and the sheer development observed in corporate telecom infrastructure in the past few years, internal telecom networks have become highly complex and difficult to monitor manually. Most enterprises have a vast number of highly advanced communication channels used for connecting with clients, customers, and employees. These developments are the chief factors driving the need for effective telecom expense management practices.

Several government regulations are also compelling enterprises to adopt effective record keeping and monitoring solutions to preserve transparency in operations. The Sarbanes-Oxley Act of 2002, for instance, was passed in the U.S. to protect investors from fraudulent accounting activities by corporations. The third rule in the section 802 of the act notes that all records containing electronic communications are to be mandatorily stored.

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Moreover, large enterprises that have operations and employees spread across several diverse locations around the globe hire different telecommunication carriers in accordance with their global presence. Processing several diverse kinds of invoices of numerous carriers, which may have different billing formats, and managing to charge enterprises only for the services that have been availed is a task that only effective TEM solutions can manage.

Emerging Markets to Present Most Rewarding Investment Returns

The global TEM market had a valuation of US$1.60 bn in 2015. The market is expected to expand at a momentous 13.5% CAGR from 2016 through 2024 and rise to a valuation of US$4.92 bn in 2024. North America, presently the leading TEM regional market, is expected to account for a major share in revenues of the global TEM market over this period as well. However, the mature market will lead to stagnant growth, persuading regional vendors to focus on attractive regional markets such as Asia Pacific and Middle East and Africa (MEA). It is estimated that the Asia Pacific TEM market will expand at an 18.3% CAGR while the MEA market will expand at an 18.7% CAGR from 2016 to 2024.

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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 Contact.

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