The global field service management market is expected to be driven by the North America region. North America is estimated to contribute a major share to the overall field service management market with the U.S. contributing most to the region’s revenue.
Managing and connecting with field-staff can be one of the biggest challenges for a company whose business model is based on the employment of extensive field staff. In this case, it is important that to have an efficient workflow and this can be done by managing workforce in the right manner.
In recent years, the rapid adoption of field service management solutions by different small & medium enterprises has given a positive influence on the global market. To elaborate further, Market Research Hub (MRH) has recently broadcasted a new forecast study titled “Field Service Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” to its massive repository.
The report gives a clear insight of the global market for field service management market and the future prospects of the business. This statistical data can help the readers know the trends of market, the drivers helping the growth and also the restraints that are limiting the global market.
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Field service management is a system for managing end-to-end activities in a field service organization including, scheduling, dispatching, invoicing and billing. Field service management software can be extremely helpful in organizing the service schedule.
There are various benefits of field service management software, such as growth in revenue, reduction of cost, better resource allocation and co-ordination.
Dynamics of Global Market for Field Service Management
As per the research key findings, the global field service management market is expected to expand at a CAGR of 14.1% during the forecast period of 2017 to 2025 and reach US$ 8,593.6 Mn in 2025. Growing need for improved efficiency and migration to cloud are expected to be major drivers of the market.
The market is also expected to grow from the high degree of technological advancements in developed and developing countries.
The global field service management market will gain significantly from the rising adoption of mobile devices. Also to intensify productivity several organizations across the world are encouraging employees to install FSM mobile apps to capitalize on seamless communication with their on-site field service staff.
Segmentation of Global Market for Field Service Management
On the basis of industry vertical, the market is segmented into BFSI, construction and real estate, energy and utilities, healthcare, manufacturing, telecom and IT, transportation and logistics, and others. At present, the market is controlled by telecom and IT while manufacturing sub-segment is expected to grow at rapid pace in the coming years.
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Moreover, it has been segmented by solution, by service, by deployment, by user type and regions. The regional analysis of the report finds that North America is estimated to contribute a major share to the overall field service management market, mainly due to the presence of major players along with high adoption of such software.
On the basis of service, the market is segmented into consulting, implementation, and training and support. Based on user type, the market is segmented into small and medium enterprise (SME) and large enterprise.
At last, a section containing detailed data about all the significant players operating in the market has also been included in the report, giving readers access to information such as challenges faced by the companies, the growth strategies implemented, the recent developments reported by them, and the financial and business overview of the company. Major players in the field service management market include Oracle Corporation, SAP SE, ClickSoftware Technologies Ltd., Astea International Inc., Coresystems AG and IFS AB (Industrial and Financial Systems).
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