The global Field Service Management (FSM) Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global field service management (FSM) market size is expected to value at USD 4.1 billion by 2025. The market is subject to witness a substantial growth due to the increasing number of field campaigns around various end-user businesses like telecom sector, oil & gas industry, building & construction sector and energy & utilities industry.
Key Players:
- Accenture
- Cisco Systems, Inc.
- Astea International, Inc.
- ClickSoftware Technologies
- Comarch SA
- Infor
- International Business Machine (IBM) Corporation
- Klugo Group
- Oracle Corporation
- SAP SE
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Growth Drivers:
Globally, the field service management market is predicted to grow at CAGR of 10% in forecast period, providing numerous opportunities for market players to invest in research and development in the market. Some of the important factors such as complex management of inventory, improved inventory cycle time, higher asset cost, higher collection cost and unpredictable data regarding the stock exchange and higher cost of business operations, are driving market growth in the recent years.
Increasing adoption of handheld electronic devices, growing need for superior operational efficiency and reduced functional cost are expected to fuel the growth of field service management (FSM) industry in the upcoming years. Recent advancement in the cloud services that allows the incorporation of cloud solutions onto the field service management software are further augmenting market value of the field service management industry.
Solution Outlook:
- Mobile Field Execution
- Service Contract Management
- Warranty Management
- Workforce Management
- Customer Management
- Inventory Management
Application Outlook:
- Energy & Utilities
- Telecom
- Manufacturing
- Healthcare
- BFSI
- Construction & Real Estate
- Transportation & Logistics
Regional Outlook:
The field service management industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, rapid growth of the oil & gas and healthcare industries, and existence of well-established IT infrastructure.
Asia-Pacific region is predicted to hold major market share in the field service management market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with rise in the number of end-user industries, increase in the demand for optimized workflow, improved productivity and significant investment by leading industry players considering potential growth opportunities in the region.
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