The vendor landscape of the global telecom expense management 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.
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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Over the past few years, factors such as the rising level of integration of mobile devices in enterprise networks and vast developments in corporate telecom infrastructure have rendered telecom networks of large-, medium-, and small-scale enterprises intensely complex and difficult for manual monitoring. As enterprises continue to adopt advanced communications channels to connect with employees, customers, and clients, the need for effective telecom expense management solutions will continue to be high.