The Field Service Management Market size was valued at USD 3.72 billion in 2022 and is expected to grow to USD 10.44 billion by 2030 and grow at a CAGR of 13.78 % over the forecast period of 2023-2030.
Market Description
The Field Service Management (FSM) market has witnessed significant growth driven by the increasing need for efficient and effective management of field operations across various industries. This market encompasses a wide range of solutions, including work order management, scheduling and dispatching, mobile field execution, and real-time analytics. Companies are leveraging advanced technologies such as IoT, AI, and cloud computing to optimize their field service operations, reduce operational costs, and enhance customer satisfaction. The integration of these technologies allows for predictive maintenance, which helps in minimizing equipment downtime and extending asset life, thereby providing a competitive edge to businesses.
Moreover, the FSM market is expanding as industries such as healthcare, manufacturing, telecommunications, and utilities seek to improve their service delivery models. The rise of mobile workforce and remote operations has further propelled the demand for robust FSM solutions. Vendors in this market are focusing on offering customizable and scalable solutions to cater to the diverse needs of small and medium-sized enterprises (SMEs) as well as large corporations. Additionally, the growing emphasis on environmental sustainability is influencing companies to adopt FSM solutions that promote eco-friendly practices, such as optimizing travel routes to reduce carbon emissions and implementing paperless processes. This shift not only supports corporate sustainability goals but also aligns with broader regulatory requirements and consumer expectations
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Covid 19 impact analysis:
The latest report is the most recent study that offers coverage of the Field Service Management industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Field Service Management market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
GEOCONCEPT SAS, Salesforce, Oracle, Infor, ServiceMax, Inc., OverIT, Microsoft, IFS, SAP, Trimble, FieldAware, Comarch, ServicePower, Accruent, Geoconcept, Zinier, PRAXEDO, Acumatica Inc, and others
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Field Service Management market.
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It has segmented the global Field Service Management market
By Component
- Software
- Services
By Deployment
- On-Premise
- Cloud
By Application
- Work Order Management
- Schedule, Dispatch, and Route Optimization
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting & Analytics
- Others
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecom
- Healthcare & Life Sciences
- Manufacturing
- Transportation & Logistics
- Construction & Heavy Equipment
- Energy & Utilities
- Others
Key Objectives of the Global Field Service Management Market Report:
- The report conducts a comparative assessment of the leading market players participating in the globalField Service Management
- The report marks the notable developments that have recently taken place in the Field Service Management industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of theField Service Management market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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