Telecom Expense Management Market Size, Share, Growth, Trends, and Forecast 2032

Telecom Expense Management Market Insights

According to a report from Zion Market Research, the global Telecom Expense Management Market was valued at USD 3.38 Billion in 2023 and is projected to hit USD 9.74 Billion by 2032, with a compound annual growth rate (CAGR) of 12.5% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Telecom Expense Management Market industry over the next decade.

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Telecom Expense Management Market Overview

The telecom expense management (TEM) is a process that is used for dealing, managing and keeping track of various wireless, voice and data services to know total telecom costs. This is mostly useful to business customers that have important telecom service requirements as part of their business processes. Businesses can also use telecom expense management software that includes visual dashboards which are helpful to show what is being spent on various telecom providers. The market is primarily driven by increasing demand of telecom expense management solutions by the various industries. The technological advancements in the telecom expense management such as adoption of 5G network and AI-driven automation technology, among others will allow vendors to deliver more agile and flexible services, with reduced costs, and help organizations to maintain their telecom spends. These are the few factors that are set to advance services and anticipated to augment the telecom expense management market during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has impacted most of the manufacturing, developing, production, and logistic industries. Most of the market players are coming with more advanced services and solutions that will help the organizations and industries to take control of needless expenses especially during this downfall of the budgets due to the covid-19 pandemic and restrictions imposed by the government due to it. Telecom expense management software is considered to be a way that will help the companies to tackle the problems created by the covid-19 epidemic. The telecom expense management market industry did observe a minor decrease in its growth rate in the first half of 2020. However, the factors like the adoption of the TEM solutions and latest technological advancements in the telecom industry are still supporting the growth of the telecom expense management market. Also, it is anticipated that if the work in the offline mode starts again, the telecom expense management market will increase in the years to come.

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Growth Factors

The growing adoption of mobile phones and other portable devices is anticipated to augment the market over the next six years. Companies from numerous sectors are focusing on opting for BYOD (Bring Your Own Device) or CYOD (Choose Your Own Device) plans for mobile smartphones and tablets of their employees. Many enterprises are implementing these mobile based programs so as to increase employee assurance, and at the same time improves productivity and reduces the expenses of the organizations. As a result, the demand for telecom expense management for proficient management of telecom operations has increased.

Rising adoption of telecom expense management by healthcare sector is anticipated to augment the market growth over the forecast period. Telecom expense management (TEM) is also becoming an important tool in healthcare organizations for administration, to contain costs and efficiently manage the widespread diffusion of mobile technologies. In the healthcare industry, the telecom costs keep rising every year, making this sector one of the most difficult to manage. Any hospital or clinical setting day-to-day operations are now integrated with smartphones, tablets and all types of other mobile technology. Many processes like patient registration and discharge, management of electronic medical records (EMRs) and inter-hospital communications, mobile technologies now have a fundamental role in healthcare telecommunication. Telecom exchange management helps to reorganize this integration process by dealing with all the difficulties that come with mobile devices. Telecom exchange management (TEM) lets establishments to decrease costs by providing full visibility into any activity which involves communication device that occurs within the facility.

Telecom Expense Management Market: Report Scope

Solutions Segment Analysis Preview

Inventory management segment held a substantial share in 2020. This is attributable to the benefits offered such as organizing and updating telecom and wireless inventory data, listing all devices, plans, circuits and lines, tracking all telecom orders and changes, interpreting and entering CSR data, among others are anticipated to support the segment growth in the forecast period. The inventory management avoids paying for unused or unneeded services, expense leaks and resource drains and normalizes processes across an enterprise. The ordering and provisioning management, dispute management, inventory management, reporting and business management, invoice and contract management, sourcing management, usage management, and others form the solution segment of the telecom expense management market.

End Use Industry Segment Analysis Preview

BFSI segment is projected to grow at a significant CAGR from 2024-2032. This is attributable to the increasing demand for better mobile applications for banking services and the increased use of IoT devices integrated with 4G and 5G networks, efforts taken towards developing better APIs for all-in-one user experience, and the increasing demand of telecom operators to mold their advanced services are also some of the primary factors that are anticipated to augment the growth of the market in the years to come. Furthermore, there has been an increase in competitors of the service providers to improve telecom expense management service meant for the BFSI sector. The modern solutions include assigning BYOD (Bring your own Device) extensions for bankers, for important call-ins remotely, attend calls through authenticated mobility features, regardless of your location, video calls for face-to-face meetings, banking directory integration, and managing all emergencies, calls, voicemails and all operations from a single desk, among others are anticipated to support the market growth. Moreover, the growing adoption of advanced technologies, and the integration of LTE and IoT, across BFSI sector will further fuel the demand of the market.

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Regional Analysis Preview

The North America region held a share of 40.2% in 2020. This is attributable to the presence of top companies such as Calero Software LLC, Valicom Corporation, and Tangoe, Inc., among others. Moreover, the increasing usage of telecom expense management in almost all sector is expected to generate huge demand for the market in this region.

The Asia Pacific region is projected to grow at a CAGR of 18.2% over the forecast period. This surge is due to the increasing population in the developing economies, a rising number of mobile users and portable devices, the rising acceptance of BYOD (Bring Your Own Device) or CYOD (Choose Your Own Device) policies by organizations, and booming IT & telecommunication sector in the region. Additionally, adoption of Internet of Things (IoT) in various industrial and business operations and significant shift in the telecom front, where the most of the establishments have migrated their traditional business structure to the cloud-based solutions as it offers substantial benefits like flexibility, security, scalability and reduced expenses among others. These factors are expected to open new avenues for the telecom expense management market over the coming years.

Key Market Players & Competitive Landscape

Some of key players in telecom expense management market are -

• Asentinel LLC
• Anatole SAS
• Ezwim B.V
• Calero Software LLC
• Valicom Corporation
• Tangoe
• WidePoint Solutions Corporation
• Avotus Corporation
• Vodafone Global Enterprise
• IBM
• among others. 

Companies are focusing on acquisition and collaboration to leverage their market share. For instance, in Jan 2020, Calero Software and MDSL finalized their merger. The purpose to combine Calero and MDSL was to create an industry leader that will provide best-in-class solutions for its customers throughout the world.

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The global telecom expense management market is segmented as follows:

By Solutions

• Ordering and Provisioning Management
• Dispute Management
• Inventory Management
• Reporting and Business Management
• Invoice and Contract Management
• Sourcing Management
• Usage Management
• Others

By Services

• Complete Outsourcing
• Managed Services
• Hosted.
• Licensed Software

By Enterprise Size

• Small and Medium Enterprises
• Large Enterprises

By Verticals

• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Automotive
• Consumer Goods and Retail
• Manufacturing
• Media and Entertainment
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa