In Asia, TEM is becoming more important and relevant as the telecom market evolves and grows. According to a report by Global Market Insights, the Asia Pacific Telecom Expense Management market size is expected to surpass USD 1 billion by 2028, growing at a CAGR of over 10% from 2023 to 2028.
What are 5 key trends and drivers that will shape the TEM market in Asia in the next five years?
1. The rise of 5G and IoT
The deployment of 5G networks and the adoption of IoT devices and applications will create new opportunities and challenges for TEM. On one hand, 5G and IoT will enable faster, smarter, and more reliable connectivity for enterprises, enhancing their productivity and innovation.
2. The impact of COVID-19
The COVID-19 pandemic has accelerated the digital transformation of many enterprises in Asia, as they have adopted remote work, online collaboration, e-commerce, and other digital solutions to cope with the crisis.
This has also increased their reliance on telecom services and devices, as well as their need for effective TEM solutions to manage them. The COVID-19 pandemic has also highlighted the importance of resilience and agility for enterprises in Asia, which can be enhanced by adopting robust and flexible TEM solutions.
3. The shift to cloud-based TEM
Cloud-based TEM solutions offer several advantages over traditional on-premise or hosted TEM solutions, such as scalability, flexibility, accessibility, security, and cost-effectiveness. Cloud-based TEM solutions can also leverage advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics to provide more accurate and actionable insights for TEM. As more enterprises migrate to the cloud for their IT needs, they will also prefer cloud-based TEM solutions for their telecom needs.
4. The demand for holistic TEM
Holistic TEM refers to a comprehensive approach that covers all aspects of telecom expense management, including fixed-line, mobile, data, voice, cloud, UCaaS, IoT, and other IT services. Holistic TEM can help enterprises achieve greater efficiency, transparency, and savings by consolidating their telecom inventory, invoices, contracts, orders, provisioning, support, and reporting in one platform. Holistic TEM can also help enterprises align their telecom strategy with their business goals and optimize their telecom performance.
5. The emergence of regional TEM providers
While global TEM providers have a strong presence and reputation in the Asia Pacific market, regional TEM providers are also emerging and gaining traction. Regional TEM providers can offer more localized and customized TEM solutions that cater to the specific needs and preferences of Asian enterprises. Regional TEM providers can also leverage their local knowledge and relationships to provide better service quality and customer support for their clients.
