Telecom Expense Management Market Set for Strong Growth: Report
November 11, 2014
By Rory J. Thompson, Web Editor
As any savvy IT manager or CFO can tell you, expenses that can sap a company’s bottom line usually pop up in the most unexpected places. Case in point: Telecom expenses.
Everyone thinks they’re just using some convenient technology, but usually without thinking about the cost involved. Multiply that by a dozen, a hundred, a thousand or even more employees, and, as one politician once allegedly said, “A billion here, a billion there, pretty soon you’re talking real money.”
While telecom expenses might not get into the billions, they do get pretty high, which has led to a burgeoning industry in Telecom Expense Management (TEM). That’s why a new report from a leading industry analysis company has some keen insights worth exploring.
The report, "Telecom Expense Management Market by Solutions -- Global Forecast to 2019", looks at the industry in depth and is projecting strong growth over the next five years. The report sees the TEM market growing at an expected Compound Annual Growth Rate of 16.1 percent from 2014 to 2019, or from $1.14 billion in 2014 to a worth of around $3.43 billion by 2019.
“With the increasing use of telecom services and the cost associated with them, service providers and enterprises from around the world are searching for the solutions to cut down the operational and maintenance expenditure,” the report notes. “The TEM market [is expected] to continue to grow in terms of global presence and market size as the enterprises continue to search for these solutions to reduce their telecom expenses and improve their business efficiency.”
This report breaks down the global telecom expenses management market based on the types of solutions, service delivery modes, end users, business verticals and geographic regions available to users. Solutions are segmented into the management of sourcing, reporting and business, disputes, usage, invoices, and ordering & provisioning.
In short, if you’re looking for an investment opportunity, the solution might well be in your hand(held).
Edited by Maurice Nagle