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The trend of allowing integration of personal mobile devices such as smartphones, laptops, and tablets under mobility policies such as bring-your-own-devices and choose-your-own-device (CYOD), for one, has revolutionized the global TEM market in the past few years. The increased integration of mobile devices in internal telecom networks has highlighting the need for presence of a holistic system for monitoring and managing usage and costs of telecom resources being exhausted. Speaking of developments, corporate telecom infrastructures now boast a vast number of communication channels connecting companies to their clients, customers, and employees. The volume of information being exchanged across these channels has also exponentially increased over the years.
TMR findings suggest that these factors will enable the global TEM market expand at a 13.5% CAGR from 2016 to 2024, allowing the market to rise to a valuation of US$4.92 bn by 2024.
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The TEM market in Asia Pacific is expected to witness an exponential 18.3% CAGR while the MEA market is expected to exhibit an 18.7% CAGR from 2016 to 2024. North America, the current leader in the market, will exhibit a relatively modest 8.9% CAGR over the same period. It is evident that TEM companies will have to align their focus towards MEA and Asia Pacific so as to exploit the enormous growth opportunities these regions promise for the TEM market