March 29, 2020
Field Service Management

Field Service Management Market: Manufacturers would opt to purchase and upgrade the applications in the forecast year

The overall field service management market worldwide was valued at US$ 3.01 Bn in 2018 and is set to grow with a CAGR of 18.0% during the forecast period.

Market Insights

The development of the infrastructure communication network and the evolution of enterprise mobility software preferences around the globe are driving the growth of the field service management market worldwide. Field service management, gives the users prominence, planning and execution, thus achieving the primary objectives of the organization. It also provides a variety of services, such as mobility, material parts management, order management, financial management, etc. Furthermore, the involvement of contractors and other third party clients is driving the growth of the market for field service management. As a result of the factors mentioned above, we expect the market for field service management to show remarkable growth during the forecast period.

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Based on the type of end-user, the market for field service management will be led by the manufacturing segment in 2018. The segment has accounted for more than 25% of total revenue in 2018. Manufactures opt for field service management as it offers customer focus. In addition, manufacturers are expected to opt to purchase and upgrade service delivery applications in the forecast year. Various applications of field service management are a key component of service delivery. As a result, we expect the manufacturing segment to be the fastest-growing segment in the forecast period.

Geographically based, North America dominated the market for field service management in 2018. In 2018, it held more than 34% of the total revenue from the field service management market. In particular, the region is the most advanced region for the adoption of digital technologies. On the other hand, Asia Pacific is expected to be the fastest growing segment in the forecast period. As a result of increased large-scale industrialization in the region and an increasing number of technology users in the region, revenue from the field service management market in Asia Pacific is growing. It is therefore estimated that Asia Pacific will expand exponentially during the forecast period 2019-2027.

Some of the major companies profiled in the report include Oracle, Microsoft, IFS, ClickSoftware, ServiceMax, Astea, Comarch, SAP, Salesforce, Trimble, Infor, OverIT, ServicePower, FieldAware, GEOCONCEPT, FieldEZ, and Zinier among others.

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Market Synopsis

  • Cloud-Based will led the Market
  • Asia Pacific to Grow Significantly during the Forecast Period

Segmentation
Component (2017–2027; US$ Bn)
• Solution
• Service

Deployment Model (2017–2027; US$ Bn)
• On-Premise
• Cloud-based

Organization Size (2017–2027; US$ Bn)
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

End-User (2017–2027; US$ Bn)
• IT Enabled Services
• Healthcare
• Energy & Utilities
• Manufacturing
• Construction and Real estate
• Transportation and Logistics

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“Field service “refers to any service performed in the field, as opposed to the property of the company. Field service usually involves dispatching workers or contractors to specific locations (often to a customer location) to install, repair or maintain equipment or systems.

Field service practitioners or field workers are often technicians who provide skilled services to commercial or industrial clients. This may involve specialized or even proprietary activities.

When most people think about field service, they think about setting up a cable TV or seeing an electrician working on a downed power line. However, field service today goes far beyond telecommunications. In its 2017 Customer Service Trends Report, Forrester’s analyst firm indicated that the field service will become a “company face” for organizations in many different industries:

Field Service Management is a system for managing the end-to-end activities of the field service organization, including scheduling, dispatching, invoicing and billing. FieldAware is a cloud-based field service management solution designed to improve the performance and productivity of your field service teams.

Field service management (FSM) touches every part of the field operation, including:

  • Assigning and scheduling work orders
  • Dispatching employees to new work assignments
  • Communicating with employees in the field
  • Collecting field data (such as time of arrival, job completion, requests for information)
  • Sharing job data or customer history with field employees
  • Routing employees to different jobs
  • Managing product inventory and availability

FSM software and mobile apps are designed to streamline communication, scheduling, dispatching, and general sharing of information between field workers and the back office.

Best Field Service Management Softwares:

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