Significant Cost Reduction for Better Management of Telecom Expenses is Driving the Growth of Global Telecom Expense Management Market

The main aim of telecom expense management solution is to minimize costs and maximize process efficiency. Also it helps in managing all telecommunication service expenses such as voice, data and wireless with a combination of software tools and manual auditing. Many companies are coming up with advance technology to reduce the telecom cost. The companies are upgrading and innovating new software which will help their customers in reducing their telecom spending.

Access Full Report https://www.databridgemarketresearch.com/ru/reports/global-telecom-expense-management-market

Data Bridge Market Research analyses that the Global Telecom Expense Management Market is expected to reach a value of USD 2.16 billion by 2031 from USD 1.56 billion in 2023, growing with a CAGR of 4.3% in the forecast period of 2024 to 2031.

Key Findings of the Study

Increasing Adoption of Mobile Phones and other Portable Devices

It has been witnessed that increase in consumer spending has raised the sale of smartphone and other portable devices in the market. In addition, the factors such as increasing disposable income, development of telecom infrastructure and the emergence of budget-centric mobile phones has risen the demand mobile in the market.

Report Scope and Market Segmentation

Segment Analysis

The global telecom expense management market is segmented into seven notable segments, which are based on the basis of offering, service delivery mode, deployment mode, enterprise size, operating system, pricing model, and end-user.

• On the basis of offering, the global telecom expense management market is segmented into solution and services

In 2024, solution segment is expected to dominate the Global Telecom Expense Management Market

In 2024, solution segment is expected to dominate the market with 57.61% market share because it provides comprehensive, automated tools that streamline expense tracking, auditing, and optimization, leading to significant cost savings and operational efficiency.

• On the basis of service delivery mode, the global telecom expense management market is segmented into managed services and complete outsourcing and hosted

In 2024, managed services and complete outsourcing segment is expected to dominate the Global Telecom Expense Management Market

In 2024, managed services and complete outsourcing segment is expected to dominate the market with 57.37% market share due to their ability to provide comprehensive, end-to-end solutions that alleviate the burden on internal IT and finance departments.

• On the basis of deployment mode, the global telecom expense management market is segmented into cloud and on-premise. In 2024, the cloud segment is expected to dominate the market with 59.50% market share
• On the basis of enterprise size, the global telecom expense management market is segmented into large enterprises and small & medium enterprises. In 2024, the large farms segment is expected to dominate the market with 63.24% market share
• On the basis of operating system, the global telecom expense management market is segmented into windows, MAC, mobile, LINUX, chromebook, and fixed circuits. In 2024, the windows segment is expected to dominate the market with 38.77% market share
• On the basis of pricing model, the global telecom expense management market is segmented into subscription based, one time license, and free trial. In 2024, the subscription based segment is expected to dominate the market with 49.47% market share
• On the basis of end-user, the global telecom expense management market is segmented into IT & telecom, BFSI, automotive, manufacturing, healthcare, transportation & logistics, consumer goods & retail, energy & power, media & entertainment, and others.  In 2024, the IT & telecom segment is expected to dominate the market with 23.31% market share

Major Players

Data Bridge Market Research analyzes Vodafone Group (U.K.), NTT Corporation (Japan), CGI Inc. (Canada), Tangoe (U.S), Upland Software, Inc. (U.S) as the major companies operating in the global telecom expense management market.

Market Developments

• In June 2024, Vodafone and Three have agreed to merge their British telecom networks, forming the UK's largest mobile phone operator with over 27 million subscribers. Although the deal faces scrutiny from competition regulators and potential union opposition, it is expected to benefit Vodafone by consolidating resources, improving network efficiency, and streamlining operations, thereby enhancing telecom exchange management and potentially reducing operational costs
• In April 2024, Tangoe's study highlights that fully outsourced IT Expense Management (ITEM) solutions offer faster results at lower costs, crucial amid rising AI, cloud, and mobile spending. This positions Tangoe to enhance telecom exchange management through streamlined processes and efficient solutions, delivering accelerated financial insights and savings to clients in complex IT environments
• In July 2019, Tangoe announced that they are included as a representative vendor in Gartner’s 2019 Market Guide for Telecom Expense Management (TEM) Services. Here the company will be showcasing Tangoe Platform, a complete solution for fixed, mobile and cloud built on world-class technology with industry-leading automation and thus will be able to provide a great user experience.
• In August 2021, AVOTUS have unveiled its brand new website for the customers.  With this the company will provide simplified features with streamlined menus, clear navigation, and uncomplicated content. Thus this will give an easy access of all the product information and help in choosing specific solutions with confidence to the customers
• In August 2022, Calero-MDSL has acquired Network Control, a boutique telecom expense management company based in Iowa. This acquisition strengthens Calero's position in the telecom expense management market by enhancing its service offerings and accelerating growth in the middle market. By integrating Network Control’s expertise, Calero can offer more comprehensive and effective telecom expense management solutions, driving innovation and improving efficiency for its clients

Regional Analysis

Geographically, the countries covered in the global telecom expense management market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Denmark, Sweden, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, New Zealand, Taiwan, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Oman, Kuwait, Qatar, Bahrain, rest of Middle East and Africa, Brazil, Argentina and rest of South America.

As per Data Bridge Market Research analysis:

North America is expected to dominate and be the fastest growing region in the Global Telecom Expense Management Market

North America is expected to dominate the telecom expense management market due to the high adoption of advanced telecom technologies, the presence of major TEM solution providers, and a strong focus on cost optimization by enterprises. The region's robust IT infrastructure and regulatory compliance requirements further drive the demand for TEM solutions. In addition, the growing number of mobile and remote workforces in North America fuels the need for efficient telecom expense management.

For more detailed information about global telecom expense management market report, click here – https://www.databridgemarketresearch.com/ru/reports/global-telecom-expense-management-market