About Field Service Management Software
Field service management (FSM) refers to the management activities of a company’s field workforce. Field service management software helps to track, monitor, and complete work orders. Field service management software market has high growth prospects owing to technological advancements such as integration of artificial intelligence (AI) and predictive analytics techniques and increasing demand from the developing countries expected to drive the demand for field service management software over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Field Service Management Software 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.
Accruent (United States), Acumatica (United States), Astea International (United States), ClickSoftware (United States), FieldAware (United States), IBM (United States), Kickserv (United States), Microsoft (United States), Oracle (United States), OverIT (United States), Salesforce (United States) and SAP (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Infor (United States), Jobber (Canada), Praxedo (France), ServiceMax (United States), ServiceNow (United States), ServiceTitan (United States) and ServiceTrade (United States).
Segmentation Overview
AMA Research has segmented the market of Global Field Service Management Software market by and Region.
On the basis of geography, the market of Field Service Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance (BFSI) will boost the Field Service Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-premises FSM software will boost the Field Service Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of AI and Predictive Analytics Techniques in the Field Service Management Software and Emphasizing On the Field Service Automation
Market Growth Drivers:
Rising Adoption of IoT and Wearable Technologies and Growing Focus on Automation of Customer Processes and Support Operations for Fields
Challenges:
Security Concerns Related To Data Privacy and Lack of Awareness in the Low and Middle-Income Countries
Restraints:
Lack of Technical Professionals to Operate Field Service Management Software
Opportunities:
Growing Demand for Cloud-Based Field Service Management Software and Increasing Demand from the Developing Economies
Market Leaders and their expansionary development strategies
In November 2022, PTC, acquired ServiceMax for approximately USD 1.46 billion in cash on a debt-free, cash-free basis from an entity majority owned by Silver Lake. ServiceMax is a recognized leader in cloud-native, product-centric field service management (FSM) software. The acquisition is expected to strengthen PTC's closed-loop product lifecycle management (PLM) offerings by extending the digital thread of product information into downstream enterprise asset management (EAM) and FSM capabilities.
In 2018, SAP SE, extended its field service management with AI-based crowd service which will enable service technicians in the field to perform installation, maintenance, and repair tasks and provides advanced scheduling of field service activities in easy-to-use mobile apps in real time.
Key Target Audience
Field Service Solution Providers, Cloud Service Providers, Professional Service Providers, Mobile Application Developers, Government Organizations, Regulatory Bodies, Field Service Managers/Supervisors/Technicians 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.