Telecom Expense Management Market Size, Segments: By Mode By Component Trending MRFR Report Industry Analysis and Research Report, Trends, forecast 2027
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Market Synopsis:
The global telecom expense management market is
projected to witness a rapid growth during the forecast period. High growth
opportunities in emerging economies and rising adoption of portable device are
the major factor driving the growth of the market. Moreover, increasing demand
for telecom expense management across various industry verticals such as IT
& telecommunication, retail, manufacturing, transport & logistics is
fueling the growth of the global market.
As
per the recent study by Market Research Future Reports (MRFR), the Telecom
Expense Management Market Size 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.
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request/4771 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:
North America is
estimated to account for the largest share of the market, whereas Asia-Pacific
market is projected to grow at the fastest rate during the forecast period. The
North American market is witnessing rapid growth due to technological
advancements and increasing demand for mobile application development platforms
across different industry verticals in this region. U.S. holds majority of the
market share both in terms of revenue as well as adoption of mobile
applications.
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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