Lucintel's latest market report analyzed that field service management provides attractive opportunities in the banking, financial services and insurance (BFSI), IT and telecom, healthcare and life sciences, manufacturing, transportation and logistics, construction and heavy equipment, and energy and utility industries. The field service management market is expected to reach $XX billion by 2028 with a CAGR of 11% to 13%. In this market, cloud is the largest segment by deployment, whereas manufacturing is largest by end use industry. Emergence of technologies, such as augmented reality and growing accessibility of FMS through mobile technology provides strategic growth path in this market.
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Based on deployment, the field service management market is segmented into on-premises and cloud. The cloud segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the rising use of cloud-based field service management due to advantages including lower maintenance costs, less physical infrastructure, and data accessible from any location at any time.
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The Field Service Management Market is marked by the presence of several big and small players. Some of the prominent players offering field service management include ServiceMax, Oracle Corporation, IFS AB,Salesforce.com, PRAXEDO, Infor, and Comarch SA.
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