Field Service Management (FSM) Market Share Forecast and Latest Innovations

Posted by Sakshi Mishra on May 16th, 2021

Overview:

The global report on the field service management market predicts that the valuation of the market could rise to USD 5.59 billion during the forecast period of 2018 to 2023. Market Research Future (MRFR) talks in detail about factors like the rising demand for customer satisfaction, increasing digitization, the inclusion of automation, investment in research and development facilities, participation from various private companies, increasing use of smartphones and tablets, and others that can ensure a solid growth for the global field service management market.

Increasing need to optimize business process efficiency and increasing demand for an integrated, reliable, and standardized field service management system are major factors driving market growth. In addition, field service management software is easily integrated with smartphones which streamline information flow between central authorities and field workers. Nonetheless, lack of skills expertise related to field service management software is one of the factors restricting FSM market growth during the assessment period. On the other hand, in developing and underdeveloped countries, lack of knowledge and slow growth are some of the factors that impede the growth of the market for field service management. Security issues about access to sensitive data may also hamper growth in the market.

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Segmentation:

The global report on the field service management market has been discussed by MRFR analysts to understand segments like component, deployment, organization size, and vertical. Data fetched from these segments reveal insights that can help in forming a better strategy.

By component, the field service management market includes solutions and services. The solution segment includes a study of the market on the basis of route planning, scheduling & dispatching, equipment management, mobile field service management, service contract management, inventory management, service history tracking, work order management, warranty management, billing & invoice, pre-voicing, and others. The service segment includes a proper segmentation of support & training, implementation, and consulting.

By deployment, the report on the field service management market includes an analysis of cloud and on-premise.

By organization size, the study of the global field service management market deals with SMEs and large enterprises.

By vertical, the field service management market includes a study of education, manufacturing, healthcare, IT& telecom, construction, retail, and others.

Regional Analysis:

North America and Europe are two distinct regions that can benefit from the structural superiority, better flow of funds, advanced research facilities, tendency to adopt latest technologies, and others. Asia Pacific would benefit from the rising industrialization and the demand to set up a system to counter the COVID-19 crisis.

Competitive Analysis

The major market players operating in the global market as identified by MRFR are Acumatica Inc. (US), Capterra(US), Accurent(US), Astea International Inc. (US), Click Software(US), IBM Corporation (US), Comarch SA (Poland), Field Aware(US), IFS(Sweden), Infor(US), Microsoft Corporation (US), Salesforce.com (US), Oracle Corporation (US), SAP SE (Germany), OverIT (Italy), among others.

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