The "Telecom Expense Management Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment (Cloud, On-premise), By Enterprise, By Industry Vertical, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global telecom expense management market size is anticipated to reach USD 7,762.5 million by 2030. The market is expected to expand at a CAGR of 11.9% from 2022 to 2030.
- CGI Inc.
- NTT Limited
- Vodafone Group Plc
- WidePoint Corporation
The increase in mobile usage and 5G adoption, along with the growing need for expense visibility, are acting as major drivers for the market. According to Ericsson Mobility Report, 5G subscriptions are expected to reach 4.4 billion globally by the end of 2027, accounting for 48% of all mobile subscriptions.
The market for telecom expense management benefited from the COVID-19 pandemic, as a majority of organizations now allow employees to work from home. This has made it challenging for organizations to fulfill their telecom management responsibilities effectively while ensuring employees can function efficiently and securely on their own devices.
Managers are increasingly adopting telecom expense management solutions and services to manage their end users, networks, and communication devices. Hence, enterprises are making telecom expense management a top priority for their businesses.
Telecom Expense Management Market Report Highlights
- By solution, the invoice management segment accounted for the major revenue share of 36.2% in 2021 and is expected to maintain its dominance over the forecast period. With the use of invoice management tools, organizations can process invoices quickly while reducing reduce human error and cost on accounts payable. The usage management segment is expected to witness a significant growth rate of 11.7% during the forecast period
- In terms of service, the hosted services segment dominated the market with a share of 67.5%. Hosted services provide enhanced security and reliability through security, 24/7 monitoring, fire protection, and redundant internet connection. The managed services segment is anticipated to register the highest CAGR of 15.3% over the forecast period
- In terms of deployment, the cloud segment is expected to register the highest CAGR of 15.7% over the forecast period. Cloud deployment enables organizations to provide increased efficiency, flexibility, and functionality. Easy maintenance and lower expenses are the key advantages of adopting cloud-based solutions
- In terms of enterprise size, the large enterprise segment accounted for the maximum revenue share of 78.3% in 2021. The rapid and early adoption of telecom expense management tools by large enterprises to gain greater expense visibility and handle large volumes of data has propelled segment growth. The small & medium-sized enterprise segment is likely to advance at the highest CAGR of 14.5% during the projected period
- The IT and telecom industry vertical segment accounted for the major revenue share of 36.0% in 2021 and is expected to maintain its dominance over the projection period. Telecom expense management is widely used in the IT industry to monitor and control the complete telecom infrastructure, while also managing the usage of components such as mobile devices, carrier connected, and landline. The BFSI segment is expected to witness the highest CAGR of 13.9% in the coming years.
- North America held the highest market share of 34.4% in 2021 and is expected to retain its position over the forecast period. The presence of various leading market players in the region is a major factor contributing to the market growth. The regional demand for telecom expense management is also being driven by the growth of mobile broadband, cloud computing, and big data analytics. Asia Pacific is the fastest-growing region with a CAGR of 13.3% in the market for telecom expense management
|No. of Pages||150|
|Forecast Period||2022 - 2030|
|Estimated Market Value (USD) in 2022||$3157.4 Million|
|Forecasted Market Value (USD) by 2030||$7762.5 Million|
|Compound Annual Growth Rate||11.9%|
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Telecom Expense Management Industry Outlook
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Market Size, Penetration, and Growth Prospect Mapping
3.3 Regulatory Scenario
3.4 Telecom Expense Management Market - Market Dynamics
3.4.1 Market driver analysis
126.96.36.199 Increasing adoption of mobile phones and bring your own device (BYOD) culture
188.8.131.52 Need for expense visibility and cost reduction
3.4.2 Market restraint/challenge analysis
184.108.40.206 Security issues and a lack of interoperability
3.4.3 Market opportunity analysis
220.127.116.11 Aggressive investment in 5G infrastructure
3.5 Telecom Expense Management Market - Porter's Five Forces Analysis
3.6 Telecom Expense Management Market - PEST Analysis
3.7 COVID-19 Impact on the Telecom Expense Management Market
Chapter 4 Telecom Expense Management Market Solution Outlook
Chapter 5 Telecom Expense Management Market Service Outlook
Chapter 6 Telecom Expense Management Market Deployment Outlook
Chapter 7 Telecom Expense Management Market Enterprise Outlook
Chapter 8 Telecom Expense Management Market Industry Vertical Outlook
Chapter 9 Telecom Expense Management Regional Outlook
Chapter 10 Competitive Analysis
Chapter 11 Competitive Landscape
Chapter 12 KOL Commentary
For more information about this report visit https://www.researchandmarkets.com/r/r7z8te
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