Field Service Management Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Field Service Management Software is a specially built technology solution that provides assistance in the real-time tracking of various organizational assets, in particular off-site or off-site equipment, machinery, and components for their effective monitoring, utilization, operation, and maintenance among other applications. The software solution offers assistance in various day-to-day activities such as scheduling work, dispatching technicians & inventories, monitoring vital activity & task status, real-time asset monitoring, and, among other applications. The software is widely used in various end-user industries, including IT & telecom, healthcare, manufacturing, BFSI, oil & gas, and pharmaceutical, among other end-user industries. In addition, on-premise software and cloud-deployed solutions are currently the most commonly available field service management solutions.
Growth in the global market for field service management is expected to be driven by an increase in the need to keep track of activities taking place in the field, an increase in demand for mobility to obtain real-time visibility in field operations, and an increase in the acceptance of automation & digitalization in the field services. The incorporation of emerging technologies, such as AI, AR, and VR in the field services sector and the increase in IoT adoption drives the adoption of cloud-based FSM solutions will offer lucrative opportunities for market expansion.
Event Tracking in the Field
The worldwide number of field technicians has reached approximately 30 million and is expected to increase during the forecast period. Field service companies realize the need to verify that all resources are used accurately for business purposes and for the tasks assigned to them to be carried out efficiently by workers/technicians working in the field. As the implementation of field service management software can facilitate simplified progress tracking and ensure timely completion of the allocated jobs, market growth is driven primarily by this.
The rise in Demand of Mobility for Getting Real-Time Visibility
The real-time tracking of the field service technicians helps to resolve a problem in the timely dispatch of the nearest technician. Furthermore, it also provides field technicians with the essential customer & case information and step-by-step guidance needed to solve the problem of the customer and improve first-time fix rates. Instead of going to the site, technicians can remotely reboot a machine or upload new software through mobility-powered field service management solutions. It is expected that equipping technicians with the correct information through mobile apps will boost revenue through field-based sales. By real-time visibility into the mobile application, customers can track the movement of the technician and be assured of the help approaching in the promised time. The adoption of mobility field service solutions therefore makes it easier for service organizations to gain better control of field operations, make better business decisions, and provide their customers with fast services.
The preference for software-as-a-service (SaaS) over conventional on-site software is set to increase significantly over the forecast period due to the increased demand for better and faster service. Many companies are transitioning to cloud-based FSM solutions with the rise of cloud computing in the field service management industry. Such alternatives relieve the pressure on the I.T. Department and allow external service providers to give their users support and maintenance.
There are some restrictions and obstacles that will hamper the growth of the market. The lack of experience associated with field service management tools is one of the major challenges. The program for field service management needs expert professionals. It could therefore hinder the growth of the demand for Field Service Management Software over the forecast period.
The North American field service management industry is expected to dominate the market, owing to a growing preference for business mobility solutions and a continuous emphasis on streamlining field service operations. Due to rapid urbanization and expanding contract-based service operations across different sectors, the Asia Pacific field service management market is described as the fastest-growing market.
- Schedule, Dispatch, and Route Optimization
- Customer Management
- Work Order Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Implementation & integration
- Training & support
- Consultancy services
By Organization Size
- Large enterprises
- Small & Medium-sized Enterprises (SMEs)
By Industry Vertical
- IT & Telecom
- Healthcare & life sciences
- Transportation & Logistics
- Energy & Utilities
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East & Africa
The report profiles various major market players such as
- Comarch SA
- IFS AB
- Microsoft Corporation
- Oracle Corporation
- com Inc.
- SAP SE
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities). The study also provides company’s positioning and market share of the overall market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global field service management market by the following segments:
- Deployment Type
- Organisation Size
- Industry Vertical
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Field Service Management Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?