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. The ascending popularity and the fast adoption
of mobile devices is another essential factor leading to the growth of market.
Besides, the increasing adoption of cloud-based techniques is estimated to make
a significant contribution which prospers the market with handsome revenue
generation. Moreover, the increasing demand for portable equipment and the
evolution in telecom expense management is likely to augment the global market
size. In addition, there is a lofty scope of progress in developing countries,
which is estimated to grow the market size. Furthermore, the growing demand for
telecom expense management across several industries like retail, I.T. &
telecommunication, manufacturing, transport & logistics is additionally
prompting the market growth.
COVID-19 Analysis:
The
business impact of SARS-CoV-2 has been felt across diverse sections of the
information technology industry, albeit at different levels. Companies in the
technology sector that supply services for verticals like travel, retail,
hospitality, and entertainment have noted a dramatic decrease in sales, while
the firms that provide services related to remote worker solutions have
observed the opposite. Global Telecom Expense Management Market fate post
pandemic has been relatively less grim compared to Education Services (ES) and
Professional Services (PS) that are mostly dependent on components that are
generally on-site. Novel coronavirus has Global Telecom Expense Management
Market to open new avenues for those firms that are on the lookout for
solutions that are reliable, efficiently managed, scalable, and are
subscription-based, to remain more focused on the core business. The Global
Telecom Expense Management Market is bearing lesser impact of the COVID-19
outbreak compared to most other segments of the tech world.
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Competitive Outlook:
The notable players of
the global telecom expense management market are Econocom (Belgium), Avotus
Corporation (Canada), Accenture PLC (Ireland), Control Point Solutions (U.S.),
MBG (U.S.), Invoice Insights (U.S.), Profitline (U.S.), IBM (U.S.), Tangoe
(U.S.), Ezwim B.V, MDSL (The Netherlands), among others.
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 global telecom expense management market 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.
Regional
Analysis:
As per the regional
analysis by MRFR, the North American region is leading the global market. The
market is witnessing an expeditious growth due to the technological evolution
in the region. Also, the rising demand for mobile application development
platforms across various sectors in the region is further growing the market.
Among all, the U.S. is estimated to make the maximum contribution in developing
the regional market. On the other hand, the APAC region and the MEA is
estimated to exhibit the maximum growth during the forecast period. The most
significant reason for regional expansion is the increasing population.
Besides, there has been a rise in smartphone ownership in these regions, which
is propelling the market at a swift pace. Moreover, the increasing popularity
of Bring Your Own device (BYOD) has additionally augmented the market.
Furthermore, I.T. & telecommunication is booming in these regions, which is
an important factor driving the global market.
The outbreak of COVID-19 is likely to change the market dynamics of several regions. Several markets have been influenced significantly due to the observation of nationwide lockdown in various countries.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
3 Market
Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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