The global field service management market size is expected to reach USD 4.16 billion by 2025, according to a new report conducted by Grand View Research, Inc. Various other factors such as improper management of inventory, increased inventory cycle time, increased holding cost, increased ordering cost and incorrect information about the stock further increase the cost of business operations. FSM software helps to fortify the functionality of the service industry while improving overall profitability.
The
main forces which are driving the market include the increase in number of
field operations across manufacturing, oil & gas and construction sector.,
increase in the use of smartphone devices, and rising demand for better
organizational efficiency and reduced cost of operations. The advancement of cloud
services supports the integration of the cloud to the FSM software. This is
expected to surge the FSM market growth over the next nine years. Over the
forecast period, most of the end-use industries are expected to deploy the FSM
software on the cloud rather than on the premise.
The
global field service management market is anticipated to witness high growth
over the forecast period. The high presence of smartphones and tablets are
playing an important role in the overall growth of the FSM industry globally.
FSM solutions are also compatible with next-generation smartphone operating
systems, further boosting their importance across the competitive landscape.
Full Research Report On Field Service Management Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/field-service-management-market
Further key
findings from the report suggest:
- The mobile field execution
solution provided by the FSM software is the most preferred solution by
the end-use industries which helps in execution and maintenance of
fieldwork by technicians, reporting status, receiving alerts, gain
visibility to individual performance.
- Most of the end-use
industries such as utilities, healthcare, IT among others are moving from
on-premise deployment to cloud deployment of the FSM software as it
enables faster deployment speeds and reduces upfront costs.
- As compared to the small and
medium enterprises, the large enterprises are increasingly adopting the
FSM software for the management of large on-field technicians and
employees who work on the field.
- The FSM software is being
increasingly adopted across the construction industry due to the rapid
industrialization and increasing population particularly in developing
countries such as China and India.
- The FSM market is in the
developing stage in the regions of Asia-Pacific, Middle East & Africa,
and Latin America due to their increase in investment in the IT sector and
increased focus on digital workplace transformation initiatives.
- The key purveyors in this
industry comprise Accenture, Cisco Systems, Astea International, Inc.,
Comarch, ClickSoftware Technologies, Klugo, Infor, SAP, ServiceMax,
Trimble Navigation Limited, among others.
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Grand View Research has segmented
the global field service management market on the basis of solution,
deployment, service, enterprise, application, and region:
Field Service
Management Solution Outlook (Revenue, USD Million; 2014 - 2025)
- Mobile Field Execution
- Service Contract Management
- Warranty Management
- Workforce Management
- Customer Management
- Inventory Management
- Others
Field Service
Management Deployment Outlook (Revenue, USD Million; 2014 - 2025)
- On-premise
- Cloud
Field Service
Management Service Outlook (Revenue, USD Million; 2014 - 2025)
- Implementation
- Training & support
- Consulting & advisory
Field Service
Management Enterprise Outlook (Revenue, USD Million; 2014 - 2025)
- Small & medium
enterprises
- Large enterprises
Field Service
Management Application Outlook (Revenue, USD Million; 2014 - 2025)
- Energy & Utilities
- Telecom
- Manufacturing
- Healthcare
- BFSI
- Construction & Real
Estate
- Transportation &
Logistics
- Others
Field Service
Management Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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