Industry Background:
The global Field Service Management market is expected to witness high growth due to the increasing demand for time and cost-effective solutions.s. Field service management refers to efficiently managing and handling the company’s field operations such as managing worker activity, scheduling, locating vehicles and dispatching work, ensuring driver safety and integration of activities such as accounting, billing, and inventory. The rising need to differentiate services, increase customer satisfaction, lower the labor costs, and improve overall efficiency and productivity transcends business size, particularly in highly-competitive markets.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft (United States), IFS (Sweden), Oracle (United States), ClickSoftware (United States), SAP (Germany), ServiceMax (United States), Astea (United States), Comarch (Poland), Salesforce (United States) and Trimble (United States) |
According to AMA, the market for Field Service Management is expected to register a CAGR of 14.44% during the forecast period to 2027. This growth is primarily driven by High Adoption of Mobility Solutions To Gain Real-Time Visibility Into Field Operations and High Demand for Cloud-Based Field Service Management Solutions.
Globally, a noticeable market trend is evident The rise in the adoption of mobile devices in several service segments has helped the task of inventory management. In the recent market scenario, inventory management systems are deployed in several mobile devices to help service organizations to leverage data collected from the field to improve their parts planning and forecast. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Microsoft (United States), IFS (Sweden), Oracle (United States), ClickSoftware (United States), SAP (Germany), ServiceMax (United States), Astea (United States), Comarch (Poland), Salesforce (United States) and Trimble (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global Field Service Management market remains quite fragmented though the demand for Field Service Management software solutions over the past several years has been consistent. Various key players of pre-packaged FSM software solutions exist, but no single FSM vendor has ever dominated the global market or any regional markets.
Key Developments in the Market:
On 9th April 2019, Astea International Inc., partners to integrate Baxter Planning’s service parts planning software into the Astea Alliance Enterprise field service management and mobility platform to offer large, complex service organizations, reduced total inventory carrying costs.
On 26th February 2019, ServiceMax acquired Zinc Inc., which enabled ServiceMax to expand the comprehensive service execution management platform, which has, in turn, enhanced the customer experience as well as met the challenges of the service workforce. It provides all mode of communication that involves technicians, so as to fetch help instantly, solve complex problems and receive updates and information about the company
Influencing Trend:
The rise in the adoption of mobile devices in several service segments has helped the task of inventory management. In the recent market scenario, inventory management systems are deployed in several mobile devices to help service organizations to leverage data collected from the field to improve their parts planning and forecast.
Market Growth Drivers:
High Adoption of Mobility Solutions To Gain Real-Time Visibility Into Field Operations and High Demand for Cloud-Based Field Service Management Solutions
Challenges:
Selecting The Right Solution That Aligns With The Organization’s Business Needs
Restraints:
Security Concerns Of Organizations Related To Data Confidentiality
Opportunities:
Maximizing Work Efficiencies With The Help Of Advanced Technologies and The Technological Advancement associated with Field Service Management
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Field Service Management Market
- Analysis about New Entrants in Field Service Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Field Service Management Study Sheds Light on
The Field Service Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Field Service Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Field Service Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.