What Has Been The Historical And Current Growth Of The Telecom Expense Management Market?
The telecom expense management market has seen considerable growth due to a variety of factors.
• The market size for telecom expense management has experienced speedy expansion over the last few years. The market value, which was at $4.09 billion in 2024, is expected to jump to $4.72 billion in 2025, signalling a compound annual growth rate (CAGR) of 15.5%.
Elements such as increasing telecom expenses, intricate telecom environments, adherence to regulations, an upsurge in mobile device utilization, and the need for cost-effectiveness, have contributed to this historical growth.
What Are The Predictions for The Telecom Expense Management Market Size In The Coming Years?
The telecom expense management market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a swift expansion in the telecom expense management market size in the forthcoming years. A leap to $8.31 billion is projected by 2029, exhibiting a compound annual growth rate (CAGR) of 15.2%.
Factors fuelling this growth consist of an influx in mobile subscribers, broader telecom services offerings, strengthened focus on cost management, the roll-out of 5G networks, and escalating data and communication requirements. Key trends predicted in this period involve incorporation of machine learning, pioneering analytics and automation, cloud-oriented solutions, amalgamation with IoT, and improvements in data security.
What Are The Essential Drivers Behind The Growth Of The Telecom Expense Management Market?
The surge in mobile subscribers is projected to drive the growth of the telecom expense management market. The term "mobile subscribers" describes individuals or organizations that use mobile services from a telecom provider. The rise in mobile subscribers is due to the broadening network availability in emerging regions and reducing smartphone prices, making mobile devices attainable for a broader demographic. Telecom expense management supports these subscribers by minimizing expenses, pinpointing billing discrepancies, and offering insight into usage habits, leading to more economical and efficient mobile services. For example, the World Economic Forum, a US-based NGO, reported in April 2023 that there were more than 8.58 billion mobile subscriptions around the world in 2022, exceeding the global populace of 7.95 billion mid-year. Consequently, the increase in mobile subscribers is fueling the growth of the telecom expense management market.
What Are The Core Segments Of The Globa Telecom Expense Management Market?
The telecom expense management market covered in this report is segmented –
1) By Type: Dispute Management, Invoice Management, Ordering And Provisioning Management, Sourcing Management, Usage Management, Other Types
2) By Offering: Solution, Services
3) By Deployment Mode: On-Premise, Cloud
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By Verticals: Banking, Financial Services, And Insurance (BFSI), Healthcare, Automotive, Consumer Goods And Retail, Manufacturing, Media And Entertainment, Other Verticals
Subsegments:
1) Dispute Management: Billing Discrepancy Management, Contractual Dispute Management,Vendor Dispute Resolution
2) Invoice Management: Invoice Validation And Auditing, Invoice Consolidation, Automated Invoice Processing
3) Ordering and Provisioning Management: Service Ordering Automation, Device Provisioning, Telecom Asset Management
4) Sourcing Management: Vendor Selection and Negotiation, Contract Management, Cost Optimization
5) Usage Management: Usage Tracking and Analysis, Data And Voice Usage Monitoring, Cost Allocation And Reporting
6) Other Types: Contract Lifecycle Management, Financial Management And Reporting, Policy aAd Compliance Management
Pre-Book The Telecom Expense Management Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Trends Are Reshaping The Telecom Expense Management Market?
Primary firms in the telecom expense management market are emphasizing on the creation of enhanced technological solutions like expense management and optimization platforms to improve effectiveness and regulation of telecom costs. These platforms are sophisticated tools that utilize cutting-edge technology to monitor, assess and fine-tune telecom expenditures, hence improving cost supervision and efficiency. For example, in September 2023, Velocity, a US-based company that provides IT consulting and application services, introduced the Global Expense Management (GEM) platform. GEM incorporates advanced technologies such as robotic process automation (RPA), artificial intelligence (AI), and machine learning to simplify the expense management processes. The platform's aim is to assist businesses in reducing costs and increasing transparency in their telecom expenditure. GEM is created to be user-friendly and is well-suited for organizations of any size looking to effectively handle their telecom costs.
Who Are the Key Players in the Telecom Expense Management Market?
Major companies operating in the telecom expense management market are include:
•Accenture PLC
• International Business Machines Corporation
• Vodafone Group PLC
• CGI Inc.
• Dimension Data Holdings PLC
• Tangoe Inc.
• Upland Software Inc.
• Sakon Inc.
• Cass Information Systems Inc.
• Calero Software LLC
• WidePoint Corporation
• SiteTracker Inc.
• One Source Communications LLC
• brightfin
• Mindglobal
• Vatic Outsourcing
• ASIGNET
• TEAMNET SL
• Cost Management Group
• Auditel Inc.
• Tellennium Inc.
• Valicom Corporation
• TeleManagement Technologies Inc.
• Avotus Corporation
What are the Regional Insights into the Telecom Expense Management Market?
North America was the largest region in the telecom expense management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom expense management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
