Field Service Management Market- Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Field Service Management Market- Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : March, 2020 | Technology & Media | PPT format

Report Digest


Global Field Service Management Market: Overview 

Field service management (FSM) refers to a system for streamlining field operations through a mobile-based workforce and usually entails the management of company resources used to service clients. FSM typically includes scheduling service orders, job scheduling, dispatching agents, tracking vehicle locations, and managing job status. FSM is used in a number of industries but is prevalent in those that require to manage installation, service and repairs of systems and equipment. Companies usually employ mobile agents and contractors in areas such as waste management, telecommunications, public sector transportation, gas utilities, heating, ventilation and air conditioning (HVAC), and healthcare industries. 

Over the last decade, the field service management market has witnessed an unprecedented shift in operations propelled by developments in automation software and innovative models, such as IoT and cloud computing. 

Global Field Service Management Market: Key Trends

The need for an effective centralized system for the management of various field services and soaring demand for real-time collaboration have propelled the field service management market. Coupled with this, the imperative for enhancing operational efficiency along with optimizing costs has boosted the market. In addition, the development of user-friendly and scalable solutions—on-premise as well as cloud-based—and the rising demand for predictive maintenance in industries have provided impetus to the FSM market. Increasing adoption of cloud-based delivery models such as software-as-a-service (SaaS) amongst several enterprises, particularly by small businesses with constrained budget, is expected to fuel the market over the forecast period. 

Global Field Service Management Market: Market Potential

The integration of FSM with big data analytics and the adoption of advanced analytic tools are anticipated to open up lucrative avenues, thereby expanding the market potential in future.  Trimble Inc., based in California, recently announced that its FSM fleet and asset portfolio is now compatible with the new Association of Equipment Management Professionals (AEMP) 2.0, telematics standard, also known as ISO-15143-3, meant for data feeds. Fleet managers can now adopt the new standard to allow data, inbound and outbound, to be exchanged with multiple asset tracking systems provided by telematics providers. All the information can be found in a standardized format, which will help businesses streamline service workflows. The AEMP 2.0 supports seamless two-way data exchange between its FSM solutions and its VisionLink offering–a web-based fleet and asset management software for construction equipment. 

This integration allows companies in the construction industry to obtain real-time information on construction machinery and vehicle fleet using a single system and in the same map. As a result, the FSM providers will enjoy greater flexibility to manage mixed fleet types. Furthermore, they will have access to a wealth of OEM equipment data, which will enable them to optimize maintenance schedules and boost customer services. 

Global Field Service Management Market: Regional Outlook

Geographically, the Asia Pacific market offers a host of lucrative market avenues to players in the FSM market. The rapid adoption of FSM solutions by enterprises in emerging regions, such as India and China, has fuelled the regional market. In addition, the growing popularity of cloud service providers in developed nations, such as Singapore, and substantial investments in industrial infrastructure are expected to fuel the market over the forecast period. 

North America is a prominent market for field service management providers and is poised to contribute significant revenue in the coming years. The growth in the market is attributed to constant modernization initiatives of companies using FSM solutions, adoption of innovation service models, and considerable technological advances, especially in the U.S. 

Global Field Service Management Market: Competitive Analysis 

Leading providers are actively offering robust and flexible end-to-end FSM solutions to reap significant competitive benefits over others. They are developing modular solutions containing multiple functionalities to attract various end users. Many providers are increasingly marketing their offerings on cloud-based models to target more SMEs. Prominent players vying for a significant share in the field service management market include Oracle Corporation, Microsoft Corporation, SAP SE, IFS AB, Infor, Servicepower Technologies plc, IBM, ServiceMax, and Astea International, Inc.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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