Global Field Service Management Market Analysis & Outlook 2030

In 2021, the global field service management market size is estimated to be USD 2 billion. Due to the continuous increase in the number of field operations in different end-use industries such as telecommunications, oil and gas, significant growth is expected, with a compound annual growth rate of approximately 11%.over the period 2022-2030. In addition, it is expected that the rapid adoption of FSM solutions by different SMEs will also drive market growth during the forecast period.

Information about the solution:

In an organization, an increase in productivity leads to an increase in profitability. With this software, there are better communication channels between the head office, management and technical personnel. Since technicians and field staff spend less time coordinating logistics tasks, they have more time for customer work. The development of technologies such as cloud, big data, and advanced analytics supports mobility and the integration of cloud and FSM software. Several cloud technology service providers provide higher-level FSM solutions to meet the needs of small, medium and large enterprises, and are expected to promote the growth of the field service management market in the next few years. Perform field work. It also helps to understand the personal performance of on-site staff and technicians.

FSM solutions help to manage and execute service contracts signed with customers, suppliers, partners, and employees. The service contract management process covers a wide range of processes such as travel, tools, outsourcing, document maintenance, help desk services, and contract renewal. These solutions also help to quickly reduce costs and ensure reserves, improve supplier recovery rates, and forecast accuracy. And better cash flow to achieve maximum profitability. They also provide inventory management and supervision services for non-capitalized assets and inventory items.

They provide companies with the different practices, strategies, and technologies needed to manage and analyze customer data and interactions throughout the life cycle. The software helps to more effectively reduce the costs involved in these different on-site processes. Therefore, many companies will use FSM software to improve the performance and productivity of their organizations.

In 2016, the global field service management market size was USD 1,725.8 million. Due to the continuous increase in the number of field operations in different end-use industries such as telecommunications, oil and gas, significant growth is expected, with a compound annual growth rate of approximately 10%., Construction, Energy and utilities. In addition, it is expected that the rapid adoption of FSM solutions by different SMEs will also drive market growth during the forecast period. Information about the solution: In an organization, an increase in productivity leads to an increase in profitability. With this software, there are better communication channels between the head office, management and technical personnel. Since technicians and field staff spend less time coordinating logistics tasks, they have more time for customer work. The development of technologies such as cloud, big data, and advanced analytics supports mobility and the integration of cloud and FSM software. Several cloud technology service providers provide higher-level FSM solutions to meet the needs of small, medium and large enterprises, and are expected to promote the growth of the field service management market in the next few years. Perform field work. It also helps to understand the personal performance of on-site staff and technicians. FSM solutions help to manage and execute service contracts signed with customers, suppliers, partners, and employees. The service contract management process covers a wide range of processes such as travel, tools, outsourcing, document maintenance, help desk services, and contract renewal. These solutions also help to quickly reduce costs and ensure reserves, improve supplier recovery rates, and forecast accuracy. And better cash flow to achieve maximum profitability. They also provide inventory management and supervision services for non-capitalized assets and inventory items. They provide companies with the different practices, strategies, and technologies needed to manage and analyze customer data and interactions throughout the life cycle. The software helps to more effectively reduce the costs involved in these different on-site processes. Therefore, many companies will use FSM software to improve the performance and productivity of their organizations.

Deployment Insights:

As cloud usage increases, cloud deployment of FSM software is expected to gain momentum. As the implementation of cloud services improves workflow efficiency and more storage space, the industry is gradually shifting their storage from on-premises deployment to the cloud. Implementation in the cloud helps keep the organizations minimum capital and operating expenses. Help save significant capital costs with zero internal server storage and application requirements. Cloud-based FSM solutions provide flexibility, scalability, low cost, and real-time data access regardless of employee location. The local implementation of the software requires a lot of storage space on the system. However, the local implementation of the software is more flexible to use. If multiple users are hosted on the same cloud server, hackers may try to access the data of other users hosted and stored on the same server.

Business insight:

FSM software provides various solutions for all types of users, including small, medium and large companies. Compared with small and medium-sized companies, large companies have a higher adoption rate of FSM software. Due to the large labor force, large companies are adopting software extensively. Help maintain employee records, personal performance statistics, outsourcing, contract renewal, document maintenance, etc. FSM software uses mobile computing to improve communication with field staff, simplify work processes, and increase productivity. Compared with large companies, small and medium-sized companies have fewer employees.

However, these companies are increasingly adopting WSF throughout the organization. With the mature business results of projects and technological development in the areas of software as a service (SaaS), mobility and machine learning, the adoption rate of small and medium enterprises is growing rapidly. The software helps dispatch technicians to the customers location to provide various services, such as repairs and maintenance, and installation of customer-owned equipment or systems.

Application insights:

The growth of end industries such as oil and gas, healthcare, IT, BFSI, telecommunications, and utilities is expected to increase the demand for FSM solutions. Due to the improvement of the healthcare competition landscape in developing countries, efficient FSM solutions are needed to reduce healthcare management costs. The healthcare industry is expected to experience the highest growth rate during the forecast period. In 2016, due to the need to automate the business processes of power plants, these power plants have been under pressure to increase productivity to improve business capabilities.

Due to the increase in global demand for petroleum products, the oil and gas industry is expected to experience tremendous growth during the forecast period. Due to the increase in the number of end users, the telecommunications industry is expected to experience nominal growth in all regions during the forecast period. In addition, due to the rapid development of industrialization and population increase, the construction industry is also expected to grow during the forecast period, especially in developing countries such as India and China.

The construction industry deploys FSM to track construction activities on site. Therefore, the growth of the construction industry will lead to an increase in the adoption rate of the software. Service Insights: Due to the increase in integrated services and implementations, the service sector is witnessing huge opportunities and becoming more important among end users. FSM solutions are implemented in the organization to assist in workforce management. The management of on-site staff is completed by software.

Therefore, the adoption of FSM by the end-use industry is expected to increase. When FSM is implemented in an organization, it will support its employees and the organization in different aspects such as employee performance, work status, and customer and inventory management. The software does not conduct on-site investigations, but performs the required work and provides updates information. It also provides training for workers.

Regional information:

In 2016, North America had the largest share of the FSM market. However, the Asia-Pacific region is expected to be the fastest growing market during the forecast period, followed by Europe. The increase in the number of end-use industries, coupled with the increasing demand for simplified workflows and increased productivity in the Asia-Pacific region, is expected to drive demand for FSM solutions in the region. It is expected to drive demand for FSM solutions. Due to the increase in IT investment and digital workplace transformation plans, the market is expected to adopt more FSM solutions in the Asia Pacific, Middle East and Africa, and Latin America regions. It is characterized by moderate competition with some major global players and other small vendors that provide FSM solutions.

The FSM industry is witnessing mergers and acquisitions as a means of inorganic growth strategies among software development companies. For example, IBM Corporation acquired Ravy Technologies Pvt. Ltd and Agile 3 Solutions LLC, both of which work in the field of information security. These acquisitions enable IBM to provide better security features for its FSM solution. In addition, software developers are gradually turning to better customer service to maintain their position in the market. Some global players currently providing FSM solutions include Accenture, Comarch SA, ClickSoftware Technologies, Infor, Klugo Group, SAP SE, Astea International, Inc., Trimble Navigation Limited and Tech Mahindra Limited.

Market segments covered by the report:

This report forecasts revenue growth at the global, regional, and country levels, and analyzes the latest industry trends in each sub-segment from 2022-2030. For the purpose of this research, Kenneth Research has segmented the field service management market based on solutions, implementations, services, enterprises, applications, and regions: Solution Outlook (Revenue, USD million; 2022-2030) Mobile Field Implementation of service contract management, warranty management, labor management, customer management, inventory management, and other deployment prospects (revenue, millions of dollars; 2022-2030) local cloud service prospects (revenue, millions of dollars; 2022-2030) implementation of training and support consulting and consulting business prospects (Revenue, millions of dollars; 2022-2030) Small and medium-sized enterprises, large companies, and large companies application prospects (income, millions of dollars; 2022-2030) Energy and Utilities Telecom Manufacturing Health BFSI Construction and Real Estate Transportation and Logistics Others.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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