The global field service management market size is expected to reach USD 4.16 billion by 2025, according to a new report conducted by Grand View Research, Inc. In addition to the main factors such as the increase in number of field operations across manufacturing, oil & gas and construction sector, and increase in the use of smartphone devices, the immense benefit accrued from FSM is its tendency to boost organizational efficiency. It cuts down the production costs by alleviating the issues of improper management of inventory, increased inventory cycle time, increased holding cost, increased ordering cost and incorrect information about the stock for the organizations. Also, FSM software helps to fortify the functionality of the service industry while improving overall profitability. These major reasons are anticipated to drive the market growth and surge the FSM market growth over the next nine years.
The global field service management market is anticipated to witness high growth over the forecast period. The high presence of smartphones and tablets are playing an important role in the overall growth of the FSM industry globally. Furthermore, cloud deployment of FSM software has provided it an extra edge and it is experiencing high demands and higher accessibility among the users. FSM solutions are also compatible with next-generation smartphone operating systems, further boosting their importance across the competitive landscape.
Field Service Management Market Report Suggest:
• In July 2020, IFS announced that Carlsberg is to implement IFS Field Service Management (FSM) across its European operations. The first phase of the roll out saw its deployment in Denmark, Sweden, Norway, Finland, Poland, and Switzerland.
• On the basis of the solutions, the mobile field execution solution provided by the FSM software is the most preferred solution by the end-use industries which helps in execution and maintenance of fieldwork by technicians, reporting status, receiving alerts, and gaining visibility to individual performance.
• Most of the end-use industries such as utilities, healthcare, IT among others are moving from on-premise deployment to cloud deployment of the FSM software as it enables faster deployment speeds and reduces upfront costs.
• On the basis of enterprises, the large enterprises are increasingly adopting the FSM software for the management of large on-field technicians and employees who work on the field.
• The FSM market is in the developing stage in the regions of Asia-Pacific, Middle East & Africa, and Latin America due to their increase in investment in the IT sector and increased focus on digital workplace transformation initiatives.
• The key purveyors in this industry comprise Accenture, Cisco Systems, Astea International, Inc., Comarch, ClickSoftware Technologies, Klugo, Infor, SAP, ServiceMax, Trimble Navigation Limited, among others.
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Field Service Management Market Segmentation
Grand View Research has segmented the global field service management market on the basis of solution, deployment, service, enterprise, application, and region:
Field Service Management Solution Outlook (Revenue, USD Million; 2014 – 2025)
• Mobile Field Execution
• Service Contract Management
• Warranty Management
• Workforce Management
• Customer Management
• Inventory Management
Field Service Management Deployment Outlook (Revenue, USD Million; 2014 – 2025)
Field Service Management Service Outlook (Revenue, USD Million; 2014 – 2025)
• Training & support
• Consulting & advisory
Field Service Management Enterprise Outlook (Revenue, USD Million; 2014 – 2025)
• Small & medium enterprises
• Large enterprises
Field Service Management Application Outlook (Revenue, USD Million; 2014 – 2025)
• Energy & Utilities
• Construction & Real Estate
• Transportation & Logistics
Field Service Management Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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