DUBLIN, Nov. 25, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Telecom Expense Management Market by Solutions - Global Forecast to 2019" report to their offering.
Telecommunication services are a major area of expenditure for enterprises, as enterprises are using these services to communicate with their customers and employees. The growing expenditure on these services has forced enterprises to focus on solutions that are able to reduce this expenditure. Therefore, enterprises have moved toward Telecom Exchange Management (TEM) solutions, as these solutions enable enterprises to reduce their expenditure on telecom services. TEM solutions suggest ways for delivering the same services at an effective rate, thereby reducing the expenditure on telecom services. Also, gaining control over telecom expenses would liberate some funds, which can be utilized by enterprises for other functions, thus increasing the effectiveness of their core functions.
The Telecom Expense Management market globally is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.1% from 2014 to 2019. The growing market for the Information Technology (IT) and telecom sector in the Asia-Pacific (APAC) region is expected to significantly bolster growth in the TEM market. Middle East and Africa (MEA) is also expected to enter the high growth phase around the later part of the forecast period. North America (NA) is expected to account for the largest market share, followed by Europe and APAC for the forecast period.
In Telecom Expense Management market, the advancement in technology has made software and applications available on cloud and on premises in various verticals such as automotive, Banking, Financial Services, and Insurance (BFSI), consumer goods and retail, healthcare, media and entertainment, manufacturing, IT and telecom, transportation and logistics, and other verticals such as oil and gas, energy, and utilities.
It is estimated that enterprises will invest in the Telecom Expense Management market at a much encouraging rate in the coming years. However, the Small and Medium Businesses (SMBs) are expected to provide a major boost in investments in this market, witnessing the highest growth during the forecasted period. Sectors such as healthcare, BFSI, and consumer goods & retail have shown a positive growth outlook in this market. These sectors account for a major share of the overall market.
It is forecasted that the Telecom Expense Management market to grow from $1.14 billion in 2014 to $3.43 billion in 2019. This represents a CAGR of 16.1% from 2014 to 2019. The table given below highlights the overall market opportunity in terms of absolute dollar value and the Year-on-Year (Y-o-Y) growth of the TEM market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Telecom Expense Management Market Analysis, By Solution
8 TEM Market Analysis, By Service Delivery Mode
9 TEM Market Analysis, By End Users
10 Telecom Expense Management: Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Dimension Data
- Vodafone Global Enterprise
For more information visit http://www.researchandmarkets.com/research/3r43vv/telecom_expense
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SOURCE Research and Markets