About Field Service Management (FSM)
Field service management generally involves dispatching workers or contractors to a location outside company premises to install, maintain or repair equipment, systems, or assets. Field service managers keep track of an organization’s field resources and coordinate the work of field service practitioners who deliver skilled, specialized or proprietary services to clients.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Global Field Service Management (FSM) is a fragmented market due to the presence of various players. The players focus on launching new services. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Field Service Management (FSM) market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), ServiceMax (United States), IFS (Sweden), SAP (Germany), RFgen (United States), eMaint (United States), UpKeep (United States), Infor (United States), ABB (Switzerland) and Aptean (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are CGI (Canada), IPS (Germany) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Field Service Management (FSM) market by Type (Services and Solutions) and Region.
On the basis of geography, the market of Field Service Management (FSM) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Field Service Management (FSM) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Focus towards Reduce Labour Costs
Market Growth Drivers:
Increasing Application of Field Service Management (FSM) in Various Organizations to Automate a Wide Variety of Repetitive Tasks
Restraints:
Attracting and Retaining Talent amid a Shrinking Talent Pool, Under Skilled Workforces and Growing Operational Costs and a Lack of Technology to Manage Complex Assets
Opportunities:
Empowering the Connected Technician — any Asset, Anytime, Anywhere, on any Cloud can create Opportunities for the Market Growth
Market Leaders and their expansionary development strategies
In 2021, ServiceMax has acquired LiquidFrameworks. The acquisition allows ServiceMax to expand its field service management solutions to meet the unique challenges of the energy sector.
In March 2023, ServiceNow Development and Support introduced a new module in ServiceNow, the Field Service Management (FSM) application. FSM is a resource management system for dispatching technicians that also tracks equipment assets and consumables. The application will initially be utilized by Distributed Support Providers, Telecom, Audio & Visual Support, and Student Technology. The new module will improve overall customer satisfaction, standardize, and simplify processes and help to reduce downtime.
Key Target Audience
Field Service Management (FSM) Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.