Key Strategies and Competitive Landscape in the Telecom Expense Management Market: Future Market Insights’ Report

The Telecom Expense Management Market revenues were estimated at US$ 3.4 Bn in 2021 and is anticipated to grow at a CAGR of 12% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 11.9 Bn.

Organizations are increasingly using telecom-related services to improve communication across their business divisions, partners, and clients, all of whom are situated in different geographic regions. Companies have been forced to adopt cost-effective Telecom Expense Management services as their telecom expenditures have increased as a result of the integration of the newest telecom-enabled services.

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The growing demand for better mobile banking applications, as well as the increasing usage of IoT devices combined with a shift to 4G networks, efforts to improve APIs for a seamless user experience, and telecom operators’ growing need to utilize their advanced services, are the key factors driving the market growth.

Controlling the telecom environment is a key duty for any business. Telecom Expense Management, or end-to-end TEM, is a practice and toolset used by enterprise businesses to effectively navigate their telecommunication assets, operations, and expenditures. Expense management has become an essential technique for a business’s long-term success. Through automatic connectivity to multiple departments utilizing a variety of apps, telecom cost management aids in the creation of autonomy in expenditure tracking systems.

In the long term, there is less manual overhead and a slower reaction time. TEM programs provide a corporation with an actionable awareness of IT assets and services by improving data visualization. Besides that, in the booming era of LTE and IoT, the rising adoption of advanced technologies, as well as the recent expansion of mobile internet in day-to-day activities, has fueled cutting-edge competitive pressures among various new technologies across BFSI, which may further propel market demand.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Telecom Expense Management Market are focused on R&D to produce innovative technological solutions.

· In July 2020, Tangoe, a leading provider of business IT cost management and managed mobility services, announced that it has achieved ISO 27001 certification, proving that the firm has been investing in people, processes, and technology to secure the organization’s data.

· In January 2020, MDSL and Calero Software completed their merger. The merger has an objective to offer the best-in-class solutions to its clients globally.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Telecom Expense Management Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Telecom Expense Management Market in terms of Application (Financial Management, Order Management, Business Intelligence, Inventory Management, Contract Management, Dispute Management, Others), and End Use (BFSI, Retail, IT and Telecommunication, Healthcare, Transportation and Logistics, Manufacturing, Government and Defense, Others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).