The global telecom expense management (TEM) market is
envisaged in a report by Transparency Market Research (TMR) to hold a
significantly fragmented nature for its vendor landscape. Use of
multiple delivery channels for operation could be commonly observed in
regional and domestic markets. Taking into account their flexibility and
cost benefits, cloud-based services may welcome the shift in the market
from licensed software products. Vendors could receive business from
enterprises that show preference for external resources in order to
boost their core business processes. This is expected to strengthen
demand for TEM process outsourcing. The market marks the presence of top
companies such as Ezwim B.V., Anatole SAS, and Asentinel LLC.
TMR projects the global TEM market to be
valued at a US$4.92 bn by the completion of 2024, growing at a 13.5%
CAGR during the forecast period 2016-2024. By mode of delivery, cloud
services could secure a king’s share of 39.8% by the final forecast
year. Regionally, North America is envisioned to take the driver’s seat
of the market while expanding at a CAGR of 8.9%.
Adoption of Advanced Communication Channels Augments Demand
Difficulty in manual monitoring of
telecom networks in large as well as small and medium-sized enterprises
(SMEs) and their intensely complex nature are predicted to increase the
need for TEM. Massively developing corporate telecom infrastructure and
increasing integration of mobile devices with enterprise networks could
be primary reasons for complexity of telecom networks. There could be a
high requirement of efficient TEM solutions due to improved adoption of
advanced communication channels by enterprises for connecting with
clients and employees.
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Of course, there are various benefits of
using TEM, but could it be a victim of digitalization? Expensive
operational costs to insure, secure, configure, update, and maintain
interoperability is forecasted to discourage adoption of TEM in the near
future. Furthermore, complex data reconciliations and long
implementation times could be other factors restricting the growth of
the international TEM market.
However, the significance of TEM could be
reinstated as enterprises are compelled by tight government regulations
to use reliable monitoring and recordkeeping solutions for maintaining
clarity in operations. Increased knowledge about TEM in better
management of payments to telecom companies is foretold to create strong
opportunities in the international market. Moreover, need to hire
different telecom companies as per carrier influence and regional trends
as enterprises look to expand their footprint globally could boost
demand for TEM.
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