The global Field Force Automation Market is expected to grow from USD 1.2 billion in 2019 to USD 2.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period. Factors that drive the market growth of field force automation market are rising demand for robust solutions for maximizing the efficiency of field forces in real-time and growing adoption of cloud-based enterprise mobility solutions.
Large enterprises segment to hold the largest market size during the forecast period
With increasing push towards adopting newer technologies, companies across the world are implementing field force automation solutions to optimize field service delivery, improve workforce productivity, increase profit margins, improve RoI, and service revenues. Field force automation solution empowers field managers and mobile workers with real-time collaboration and communication and predictive analytics capabilities.
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Services segment to grow at a higher CAGR during the forecast period
The services segment is expected to grow at a higher CAGR during the forecast period due to the demand for constant guidance, training, and support among enterprises, during the product deployment life cycle. Services enable companies to choose the right set of solutions as well as deploy solutions correctly and operate them without hassle.
The field force automation market comprises significant solution providers, such as ServiceMax (US), IFS (Sweden), Microsoft (US), SAP (Germany), Oracle (US), Trimble (US), ClickSoftware (US), Salesforce (US), Astea (US), FieldEZ (India), BT, Accruent (US), Acumatica (US), Folio3 (US), LeadSquared (India), Kloudq (India), Appobile Labs (India), Mize (US), Nimap Infotech (India), and Channelplay (India). The study includes an in-depth competitive analysis of these key players in the field force automation market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and partnerships, acquisitions, and collaborations, have been the most dominating strategies adopted by the major players from 2017 to 2019, which helped them strengthen their offerings and broaden their customer base.
ServiceMax (US) is among the leaders in the field force automation market with a prominent geographic presence. It has adopted various organic and inorganic growth strategies and continues to enhance its expertise in field force automation through technology acquisitions, collaborations, and partnerships. For instance, in April 2019, ServiceMax added AI capability to its ServiceMax platform with the launch of a new module, ServiceMax Remote Triage that uses the power of a service intelligence platform provider’s (Aquant) machine learning engine. This update is expected to enable service organizations to analyze data from multiple sources and reduce unwanted dispatching of technicians and service equipment.
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IFS (Sweden) has a strong foothold in the field force automation market with its robust Service Management portfolio. The company has alliances with many technologies, and sales and delivery companies to offer its customers with more enhanced and extended services. In February 2019, IFS and PTC signed an agreement for a strategic collaboration to deliver improved field service management and Aerospace and Defense (A&D) solutions by integrating their solutions. IFS Field Service Management, IFS Applications, IFS Maintenix solutions integrated with PTC’s Servigistics Service Parts Management solution, is expected to increase equipment uptime and service part availability as well as improve service delivery and execution efficiency.
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