According to the corporate intelligence report by the Transparency Market Research, the global telecom expense management market is set to expand at a stellar growth rate of 13.5% during the forecast period of 2016 to 2024. The business intelligence study also states that the global telecom expense management market will be evaluated at US$ 4.92 billion by the end of the forecast period i.e. 2024. The rising trend of integrating personalized mobile communication devices such as smartphones, tablets, laptops, etc. under the mobility policies of bring your own device has been pivotal in propelling the growth in the global telecom expense management market in coming years.
Some of the major applications for the solutions in the global telecom expense management market include order management, inventory management, dispute management, financial management, business intelligence, and contract management, among others. Few of the leading end users for the solutions in the global telecom expense management market include retail, healthcare, manufacturing, banking, financial services, and insurance or BFSI, It and telecommunication, transportation and logistics, and government and defense, among others.
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Cloud Services Segment Led the Telecom Expense Management Market in 2015
Segments in the global telecom expense management market by the mode of delivery are complete outsourcing, managed services, and cloud services. Amongst these, the complete outsourcing segment is expected to record an impressive growth rate of 15.4 % over the forecast period of 2016 to 2024. This trend can be attributed to rising popularity and increasing adoption of these services as compared to cloud services. However, flexible, low cost, and efficient nature of cloud based services made the segment largest one in global telecom expense management market in 2015, accounting for 45.98 % of the total industry revenue.
Growth of the global telecom sector is also propelling the demand in the global telecom expense management market. Furthermore, rising requirement for effective telecom expense management practices in corporations and enterprises is also bolstering the development of the global telecom expense management market in coming years.
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North America Holds Largest Revenue Share in Telecom Expense Management Market
Major regions covered in the study on the global telecom expense management market are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific. The North America is the leading region in the global telecom expense management market. North America global telecom expense management market is also expected to showcase the highest revenue share in the global industry over the forecast period. This trend can be attributed to extensive utilization of mobile devices in an enterprise, presence of several leading telecom expense management service providers in the region, and technologically advanced IT infrastructure in the region.
On the other hand, global telecom expense management market is anticipated to witness significant growth in developing regional markets in coming years, such as Middle East and Africa as well as Asia Pacific. Increasing popularity of chose your own devices or CYOD and bring your own device or BYOD policies as well as the presence of massive number of IT products and services companies in the region are expected to boost the demand for global telecom expense management market in Asia Pacific in coming years.
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Some of the leading and most prominent players functional within the global telecom expense management market include Anatole SAS, Calero Software LLC, Tangoe, Inc., Avotus Corporation, Asentinel LLC, Ezwim B. V., Valicom Corporation, and WidePoint Solutions Corporation, among others. The global telecom expense management market is highly fragmented with numerous players operating in the competitive landscape with intense internal competition.
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Market Synopsis As per the recent study by Market Research Future Reports (MRFR), the global telecom expense management market is anticipated to flourish at a CAGR of 18% during the assessment period from 2017 to 2023.
The amplified demand for mobile applications is the most substantial element driving the global telecom expense management market 2020.
Furthermore, the growing demand for telecom expense management across several industries like retail, I.T.
A precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed.
Market Segmentation The worldwide telecom expense management market 2020 can be segmented on the basis of service, solution, end-user, organization size, and region.On the grounds of service, the Telecom Expense Management Market Size can be classified into licensed software, hosted, managed service, complete outsourcing, and cloud services.On the grounds of the solution, the global telecom expense management market can be classified into invoice and contract management, dispute management, inventory management, procurement management, and others.On the grounds of end-user, the global telecom expense management market can be classified into automotive, I.T.
& telecommunication, consumer goods and retail, transport and logistics, BFSI, and others.On the grounds of organization size, the global telecom expense management market can be classified into large enterprises and small & medium enterprises.On the grounds of the region, the global telecom expense management market can be classified into North America, Europe, Asia Pacific, and Rest of the World.
Data Bridge Market research presents the top quality and comprehensive Telecom Expense Management Market research report which provides clear insights into market dynamics and prospects the whole market including global production, revenue forecast, value and volume.
This Telecom Expense Management Market report deeply study competitive scenario and evaluated the crucial vendors with regard to product stratification and business strategies.
The detailed information of the existed industries is the first acquired by the dedicated team to provide exact and accurate data of the market.
The Global Telecom Expense Management Market was valued at USD 2,892.5 million in 2017 and is expected to reach USD 3,507.2 million in 2025, growing at a healthy CAGR of 17.1%.
for the forecast period of 2018 to 2025Get Inside Scoop of the report, request for Sample @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-telecom-expense-management-market Market Definition: Global Telecom Expense Management Market The use of telecom service is increasing day-by-day and so is the cost related to these services.
The multiple delivery channels for operation are being used for regional and domestic purposes.
Telecom Expense Management Market: By Solution (Dispute Management, Inventory Management, Invoice and Contract Management, Procurement Management), By Service (Licensed Software, Hosted), End User (BFSI, Automotive) – Global Forecast till 2023Market HighlightsThe global telecom expense management market is projected to witness a rapid growth during the forecast period.
High growth opportunities in emerging economies and rising adoption of portable device are the major factor driving the growth of the market.
Moreover, increasing demand for telecom expense management across various industry verticals such as IT & telecommunication, retail, manufacturing, transport & logistics is fueling the growth of the global market.The global telecom expense management market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World.
U.S and Canada are anticipated to drive the growth of the North American telecom expense management market owing to the presence of large number of established key players such as Avotus Corporation (Canada), Control Point Solutions (U.S.), Invoice Insights (U.S.), MBG (U.S.), Profitline (U.S.), Tangoe (U.S.), IBM (U.S.) in this region.
Due to the high adoption of portable device and rising telecom expense of enterprises in the region, the market is likely to show immense growth in the coming future.
Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the telecom expense management market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/4771In the global telecom expense management market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of portable device, emerging economies and technological advancement in telecom expense management in the region.The global Telecom expense management market is projected to reach USD 4.50 billion at a CAGR of over 16% by the end of the forecast period 2017-2023.Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
