For enterprises and businesses, telecommunication services are a key part of expenses as they use these services to connect with their workforces and clienteles. Telecom expense management software is utilized by the businesses to decrease the expenses of managing telecom infrastructure. It assists the businesses to simplify their process and offers flexibility, enhance efficiency, decrease time, & moderate the operational price, which influences on the expansion of the global telecom expense management software market directly.
The growth of the global telecom expense management software market is mainly driven by the growing employment of portable devices within businesses, increasing growth prospects within budding economies, and latest technological progresses in telecom expense management. In addition, the growing use of mobile devices, offering expense visibility and noteworthy cost reduction are other factors expected to fuel the market growth during the forecast period. Moreover, rising recognition of cloud-based services is also projected to surge the market demand during the coming period. However, no defined industry norms and dearth of interoperability are the factors anticipated to hamper the market expansion. Also, complexities surfacing from mounting need for flexible work setting are among the challenges confronted by the market, thereby hindering market growth.
The global telecom expense management software market is bifurcated based on service delivery mode, solution, vertical, end-users, and region. The market, based on solution, can be divided into reporting and business management, sourcing management, usage management, dispute management, ordering & provisioning management, invoice management, and others. The market, on the basis of end-users, can be classified into large enterprises and small & medium enterprises (SMEs). The market, on the basis of service delivery mode, can be segregated into licensed software, hosted, and managed services & complete outsourcing. The market, on the basis of vertical, can be diversified into consumer goods & retail; transportation & logistics; banking, financial services & insurance (BFSI); manufacturing; healthcare; media & entertainment; IT & telecom; and others.
Regionally, the global telecom expense management software market is projected to be ruled by North America during the forecast period trailed by Europe and Asia Pacific. The growth in North America can be attributed to the high use of mobile devices and increasing technological improvements along with the deep-rooted telecom infrastructure facilitating quicker employment of advanced technologies.
The prominent players active within the global telecom expense management software market include Dimension Data, Vodafone Global Enterprise, MDSL, IBM, Accenture, Tangoe, CSC, CGI, Valicom, Econocom, WidePoint Solutions Corporation Inc. Asentinel, Anatole, Rivermine, Quickcomm Software Solutions, MBG, ProfitLine, Avotus, and Invoice Insight, among others.