Field Service Management Market
PUBLISHED: 2024 ID: SMRC26128
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Field Service Management Market

Field Service Management Market Forecasts to 2030 - Global Analysis By Component (Solution and Services), Deployment, Enterprise, End User and By Geography

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4.8 (74 reviews)
Published: 2024 ID: SMRC26128

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Field Service Management Market is accounted for $4.0 billion in 2023 and is expected to reach $10.5 billion by 2030 growing at a CAGR of 14.8% during the forecast period. Field Service Management (FSM) refers to the practice of managing a company's resources, such as vehicles, tools, and personnel that are involved in providing services to customers at their locations. This management typically includes scheduling and dispatching tasks, tracking work orders, managing inventory, handling customer interactions, and optimizing overall operational efficiency. These systems often incorporate software and technologies like mobile apps, GPS tracking, and analytics to streamline field operations and improve customer satisfaction.

According to a Yotta survey, 37% of Indian enterprises had their digital infrastructure in the cloud, with more than 60% expected to be adopted through the cloud by 2022.

Market Dynamics: 

Driver: 

Rising adoption of mobile solutions

The market is witnessing a notable uptick in mobile solution adoption. Companies are increasingly leveraging mobile technologies to streamline operations, enhance communication, and improve overall efficiency in field service tasks. Mobile solutions offer real-time access to data, enabling field technicians to deliver faster service, resolve issues promptly, and ensure customer satisfaction. This trend underscores the growing recognition of mobile platforms as indispensable tools for optimizing field service management processes.

Restraint:

Lack of integration

The market is currently grappling with a significant lack of integration across various solutions. This fragmentation hinders seamless communication between different tools, leading to inefficiencies and data silos. The absence of standardized integration protocols further compounds this issue, making it challenging for organizations to adopt holistic FSM solutions. As a result, businesses face hurdles in achieving optimal productivity, customer satisfaction, and operational transparency within their field service operations.

Opportunity:

Increased adoption of automation and digitalization

Companies are increasingly leveraging advanced technologies like AI, IoT, and cloud-based platforms to streamline operations, enhance efficiency, and deliver superior customer experiences. This trend is driven by the need for real-time data, predictive maintenance capabilities, and remote monitoring, all of which contribute to improved decision-making and cost savings across the field service landscape. Thus, the market is experiencing a surge in automation and digitalization adoption.

Threat:

Cost of implementation

Implementing field service management solutions typically incurs costs across several areas. These include software licensing fees, customization and integration expenses, and training and on boarding costs for employees, hardware and infrastructure investments for mobile devices and connectivity, ongoing maintenance and support fees, and potential costs associated with data security and compliance measures. Hence, these are the factors hampering the growth of the market.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Field Service Management (FSM) market, driving a rapid shift towards remote work and digital solutions. Companies prioritized safety protocols, leading to increased adoption of FSM software for virtual troubleshooting and maintenance. The demand for IoT-enabled devices also surged, enhancing real-time monitoring capabilities. Additionally, the pandemic accelerated trends like predictive maintenance, workforce optimization, and contactless service delivery, shaping the FSM market towards more agile and tech-driven solutions.

The solution segment is expected to be the largest during the forecast period

The solution segment is expected to be the largest during the forecast period. This is achieved through robust software that offers features like real-time scheduling, route optimization, inventory management, and mobile workforce support. By integrating IoT, AI, and analytics, FSM solutions empower businesses to streamline field operations, reduce costs, minimize downtime, and deliver superior service, ultimately driving profitability and customer satisfaction.

The telecom segment is expected to have the highest CAGR during the forecast period

The telecom segment is expected to have the highest CAGR during the forecast period. Their services enable real-time communication between field technicians and central operations, enhancing efficiency and productivity. Through advanced technologies like IoT, cloud computing, and mobile apps, telecoms streamline field operations, optimize resource allocation, and improve customer service. This integration of telecom services with these solutions drives innovation and supports businesses in delivering timely and effective field services.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. With a strong focus on efficiency and customer satisfaction, FSM solutions are in high demand across various industries such as manufacturing, healthcare, and utilities. Key players in the region offer comprehensive FSM platforms that integrate advanced features like real-time tracking, scheduling optimization, and mobile workforce management. The North American FSM market continues to expand as businesses prioritize streamlined operations and enhanced service delivery.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The adoption of advanced technologies such as cloud computing, Internet of Things (IoT), artificial intelligence (AI), and mobile devices has transformed the landscape. These technologies enable real-time communication, remote monitoring, predictive maintenance, and data analytics, enhancing operational efficiency and customer satisfaction. The service sector in the region, including maintenance, repair, and after-sales services, has expanded rapidly across various verticals.

Key players in the market

Some of the key players in Field Service Management market include Microsoft, Oracle, ServiceMax, IBM Corporation, Agile 3 Solutions LLC, ServiceNow, Klugo Group, SAP SE, Infor, ServicePower , Accenture, Comarch SA, Salesforce, Inc., Astea International, Inc., Trimble Navigation Limited and Tech Mahindra Limited.

Key Developments:

In January 2024, ServicePower partnered with Encompass Simply Parts, an OEM supplier, to offer simplified and streamlined capabilities for parts ordering to all service providers utilizing the ServicePower platform and ServicePower HUB.

In June 2023, Microsoft announced that the release of field service software would enhance field service operations for service managers. Dispatchers can streamline the triage and assignment of work orders by prioritizing those in proximity. The updated schedule board experience is accessible to all users, and improvements for frontline workers for their mobile applications.

Components Covered:
• Solution 
• Services 

Deployments Covered:
• Cloud
• On-Premise

Enterprises Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

End Users Covered:
• Manufacturing
• Healthcare
• Telecom
• Energy & Utilities
• Transportation and Logistics
• Construction and Real Estate
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology     
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions     
         
3 Market Trend Analysis      
 3.1 Introduction      
 3.2 Drivers       
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats       
 3.6 End User Analysis      
 3.7 Emerging Markets      
 3.8 Impact of Covid-19      
         
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry      
         
5 Global Field Service Management Market, By Component    
 5.1 Introduction      
 5.2 Solution       
  5.2.1 Warranty Management    
  5.2.2 Workforce Management    
  5.2.3 Inventory Management    
  5.2.4 Mobile field execution    
  5.2.5 Customer management    
  5.2.6 Service contract management    
 5.3 Services       
  5.3.1 Implementation     
  5.3.2 Training & Support     
  5.3.3 Consulting & Advisory    
         
6 Global Field Service Management Market, By Deployment    
 6.1 Introduction      
 6.2 Cloud       
 6.3 On-Premise      
         
7 Global Field Service Management Market, By Enterprise    
 7.1 Introduction      
 7.2 Small and Medium-sized Enterprises (SMEs)   
 7.3 Large Enterprises      
         
8 Global Field Service Management Market, By End User   
 8.1 Introduction      
 8.2 Manufacturing      
 8.3 Healthcare      
 8.4 Telecom       
 8.5 Energy & Utilities      
 8.6 Transportation and Logistics     
 8.7 Construction and Real Estate     
 8.8 Other End Users      
         
9 Global Field Service Management Market, By Geography   
 9.1 Introduction      
 9.2 North America      
  9.2.1 US      
  9.2.2 Canada      
  9.2.3 Mexico      
 9.3 Europe       
  9.3.1 Germany      
  9.3.2 UK      
  9.3.3 Italy      
  9.3.4 France      
  9.3.5 Spain      
  9.3.6 Rest of Europe     
 9.4 Asia Pacific      
  9.4.1 Japan      
  9.4.2 China      
  9.4.3 India      
  9.4.4 Australia      
  9.4.5 New Zealand     
  9.4.6 South Korea     
  9.4.7 Rest of Asia Pacific     
 9.5 South America      
  9.5.1 Argentina     
  9.5.2 Brazil      
  9.5.3 Chile      
  9.5.4 Rest of South America    
 9.6 Middle East & Africa     
  9.6.1 Saudi Arabia     
  9.6.2 UAE      
  9.6.3 Qatar      
  9.6.4 South Africa     
  9.6.5 Rest of Middle East & Africa    
         
10 Key Developments       
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 10.2 Acquisitions & Mergers     
 10.3 New Product Launch     
 10.4 Expansions      
 10.5 Other Key Strategies     
         
11 Company Profiling       
 11.1 Microsoft       
 11.2 Oracle        
 11.3 ServiceMax      
 11.4 IBM Corporation      
 11.5 Agile 3 Solutions LLC     
 11.6 ServiceNow      
 11.7 Klugo Group, SAP SE     
 11.8 Infor       
 11.9 ServicePower       
 11.10 Accenture      
 11.11 Comarch SA      
 11.12 Salesforce, Inc.      
 11.13 Astea International, Inc.     
 11.14 Trimble Navigation Limited     
 11.15 Tech Mahindra Limited     
         
List of Tables        
1 Global Field Service Management Market Outlook, By Region (2021-2030) ($MN) 
2 Global Field Service Management Market Outlook, By Component  (2021-2030) ($MN)
3 Global Field Service Management Market Outlook, By Solution (2021-2030) ($MN) 
4 Global Field Service Management Market Outlook, By Warranty Management (2021-2030) ($MN)
5 Global Field Service Management Market Outlook, By Workforce Management (2021-2030) ($MN)
6 Global Field Service Management Market Outlook, By Inventory Management (2021-2030) ($MN)
7 Global Field Service Management Market Outlook, By Mobile field execution (2021-2030) ($MN)
8 Global Field Service Management Market Outlook, By Customer management (2021-2030) ($MN)
9 Global Field Service Management Market Outlook, By Service contract management (2021-2030) ($MN)
10 Global Field Service Management Market Outlook, By Services (2021-2030) ($MN) 
11 Global Field Service Management Market Outlook, By Implementation (2021-2030) ($MN)
12 Global Field Service Management Market Outlook, By Training & Support (2021-2030) ($MN)
13 Global Field Service Management Market Outlook, By Consulting & Advisory (2021-2030) ($MN)
14 Global Field Service Management Market Outlook, By Deployment  (2021-2030) ($MN)
15 Global Field Service Management Market Outlook, By Cloud (2021-2030) ($MN) 
16 Global Field Service Management Market Outlook, By On-Premise (2021-2030) ($MN)
17 Global Field Service Management Market Outlook, By Enterprise  (2021-2030) ($MN)
18 Global Field Service Management Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2021-2030) ($MN)
19 Global Field Service Management Market Outlook, By Large Enterprises (2021-2030) ($MN)
20 Global Field Service Management Market Outlook, By End User (2021-2030) ($MN) 
21 Global Field Service Management Market Outlook, By Manufacturing (2021-2030) ($MN)
22 Global Field Service Management Market Outlook, By Healthcare (2021-2030) ($MN)
23 Global Field Service Management Market Outlook, By Telecom (2021-2030) ($MN) 
24 Global Field Service Management Market Outlook, By Energy & Utilities (2021-2030) ($MN)
25 Global Field Service Management Market Outlook, By Transportation and Logistics (2021-2030) ($MN)
26 Global Field Service Management Market Outlook, By Construction and Real Estate (2021-2030) ($MN)
27 Global Field Service Management Market Outlook, By Other End Users (2021-2030) ($MN)
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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