Telecom Expense Management Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 05/11/2018 --The vendor landscape of the global telecom expense management (TEM) market boasts a highly fragmented nature and has a large share in business held by individual TEM vendors, which operate through multiple delivery channels, across key domestic and regional markets, observes a recent report by Transparency Market Research. The market is witnessing a notable shift from licensed software products to cloud-based services owing to cost and flexibility benefits of the latter. TEM process outsourcing has started gaining increased demand from organizations that prefer to utilize internal resources to strengthen their core business processes.

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In terms of mode of delivery, the segment of cloud services held the dominant share of nearly 45% of the overall market in 2015. Although the segment will continue to account for a massive share in the global market throughout the forecast period, rising preference to complete outsourcing will lead to a massive negative impact on the rate of adoption of cloud-based services.

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From a geographical perspective, the market in North America presently leads in terms of contribution of revenue to the global TEM market and is expected to continue to hold a massive share in the global market revenue over the forecast period as well. Nevertheless, the high level of maturity of the regional market is projected to be translated in stagnant growth opportunities. Regional markets such as Asia Pacific and Middle East and Africa are expected to emerge as the regions with the most promising growth opportunities over the forecast period.