Field Service Management Market Size, Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4505
Field Service Management Market size is expected to grow rapidly during the forecast period driven by rising demand for mobility solutions and technological advancements in the area of field service management.
In addition, the field service management offers several advantages such as workflow standardization, reduction of paperwork, quicker invoicing, cost reduction, accuracy task tracking, dynamic scheduling, and more. These systems can monitor real-time activities of field technicians which results in improved workflow efficiency of the business.
The end-users are also able to monitor real-time data related to the issue resolution and the field technician which results in increased customer satisfaction. Hence, the above-mentioned advantages associated with field service management are expected to fuel the growth of the field service management market over the forecast period.
However, the high cost associated with the installation and maintenance of field service management might hamper the growth of the market. Though, in response to the rising demand for these systems, manufacturers are focused on research and development activities which is expected to put positive impact on the growth of global market.
North America field service management market is anticipated to dominate by holding significant share over the forecast period. This dominance can be attributed to early adoption of technology across the region. In North America, organizations are engaged in developing best-in-class field service management solutions in order to gain enhanced end-user satisfaction which can result in improved customer scale in the coming years. Furthermore, the high penetration of smartphones and internet devices is projected to propel the growth of filed service management market in North America.
Furthermore, Asia Pacific is projected to show fastest growth rate over the forecast period. The growth can be credited to emerging economies in the APAC region including China, Japan, and India. The APAC countries are major hub for SMEs. Also, increasing industrialization across the region is resulting in increased demand for optimized workflow which is expected to boost the growth of market in the region.
Among deployment types, the cloud-based field service management is projected to be the fastest growing segment over the period of research study. This is mainly due to rising demand for automated management system in order to improve productivity and reduce operational cost of the enterprises across the globe. The cloud-based software offers superior advantages during the time of service deliver such as efficiency in customer service management, improved communication between technician and supervisors, remote monitoring, integration of critical information in one location, and comparatively easy scheduling of work.
The major field service management solution providers are focusing on strategic mergers and acquisitions with other industry players in order to enhance their portfolio which will help them to strengthen their market position. For instance, in August 2019, Salesforce, one of the prominent players in the field service management market announced an agreement with ClickSoftware for $1.35 billion in cash and stock to acquire ClickSoftware.
In addition, the companies are focused on collaboration and partnership with the purpose of strengthening their foothold in global market. For instance, in February 2019, IFS announced that they are entering into a strategic collaboration with PTC to deliver powerful field service management solutions to aerospace & defense and heavy industries. As a part of this partnership, PTC’s Servigistics Service Parts Management solution will be integrated with IFS Maintenix solution, IFS Field Service Management, and IFS Applications.
The global field service management industry is fragmented with multiple regional and international players. As the market is highly competitive, the companies are focused on developing innovative solutions which will result in differentiating their solutions with other players. Some of the major player operating in this market are Geoconcept, Oracle, Fieldez, SAP, Zinier, Microsoft, Fieldaware, IFS, Overit, Clicksoftware, Trimble, Servicemax, Salesforce, Astea, Infor, and Comarch.
Market by Service Type, 2015-2026 (USD Million)
- Order management
- Inventory Management
- Schedule and Dispatch
- Fleet Tracking
- Reporting and analytics
Market by Deployment Type, 2015-2026 (USD Million)
Market by End-Use, 2015-2026 (USD Million)
- Aerospace & Defense
- IT & Telecommunication
- Energy & Utility
- Logistics & Transportation
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
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