Europe Telecom Expense Management Market
Europe telecom expense management market is expected to reach USD 598,932.16 thousand by 2031 from USD 429,307.86 thousand in 2023, growing with a CAGR of 4.4% in the forecast period of 2024 to 2031.
Market Segmentation:
Europe Telecom Expense Management Market, Offering (Solution and Service), Service Delivery Mode (Managed Services and Complete Outsourcing and Hosted), Deployment Mode (Cloud and On-Premise), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Operating System (Windows, MAC, Mobile, LINUX, Chromebook, and Fixed Circuits), Pricing Model (Subscription Based, One Time License, and Free Trial), End-User (IT & Telecom, BFSI, Automotive, Manufacturing, Healthcare, Transportation & Logistics, Consumer Goods & Retail, Energy & Power, Media & Entertainment, and Others), Country (Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Denmark, Sweden, and rest of Europe) - Industry Trends and Forecast to 2031
Overview of Europe Telecom Expense Management Market Dynamics:
Drivers
• Significant cost reduction for better management of telecom expenses
• Increasing adoption of mobile phones and other portable devices
• Providing expense transparency
• Increasing demand for TEM due to IoT and cloud based application
Restraint
• Continuous variation in telecom regulations and compliance requirements raises complication in TEM
Opportunities
• Rising automation in telecom expense management
• Increase in the outsourcing of TEM solution
• Low deployment cost and growing demand for cost-efficient TEM solutions
Challenges
• Issue in forecasting future spending
• Complexity in telecom invoices along with continuous variation in charges and billing cycles
Market Players:
The key market players operating in the Europe telecom expense management market are listed below:
• TEAMNET, SL
• SITETRACKER
• brightfin
• Cost Management Group
• Vodafone Group
• Tangoe
• Calero
• Cass Information Systems, Inc.
• ASIGNET (WAYFAST)
• Upland Software, Inc.
• Sakon
• WidePoint Corporation
• CGI Inc.
• NTT Corporation
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