Market Insights:
The global Field Service Management (FSM) Market is projected to grow from USD 3.3 Bn in 2021 to 10.5 Bn by 2030, at a CAGR of 13.7% in forecast period, 2022-2030.
Driver:
The increased adoption of Field Service Management (FSM) in the Communication Services industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Field Service Management (FSM) also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Field Service Management (FSM) in many sectors also boosts the market growth during the forecast period.
Field service management software is designed to coordinate field operations by managing numerous components such as inventory management, scheduling, vehicle tracking, and customer portals, among others. Various firms have a consistent requirement for customer-centric solutions, which has increased demand for field service solutions. The mobile-driven solution also assists enterprises in driving consumer-led experiences and increasing productivity. Furthermore, FSM’s technologically superior advancements are projected to drive market share.
Field Service Management (FSM) Market Research Report” was just released by Market Research Community. It is divided into several categories, including Component (Solution, Services), application (Work Order Management, Schedule, Dispatch, and Route Optimization, Customer Management, Inventory Management, Service Contract Management, Reporting & Analytics), Vertical (BFSI, IT and Telecommunication, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics), Deployment (Cloud, On-Premise), Enterprise Size (Large Enterprises, Small & Medium Size Enterprises), and companies (Oracle Corporation, IFS AB, Field Aware US, Inc., Microsoft Corporation, Core systems AG), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 10.5%, over the forecast period of 2022–2030
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 10.5 Billion |
| CAGR (2022-2030) | 13.7% |
| By Component | Solution, Services |
| By Application | Work Order Management, Schedule, Dispatch, and Route Optimization, Customer Management, Inventory Management, Service Contract Management, Reporting & Analytics |
| By Vertical | BFSI, IT and Telecommunication, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics |
| By Deployment | Cloud, On-Premise |
| By Enterprise Size | Large Enterprises, Small & Medium Size Enterprises |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Oracle Corporation, IFS AB, Field Aware US, Inc., Microsoft Corporation, Core systems AG |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Field Service Management (FSM) market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Oracle Corporation, IFS AB, Field Aware US, Inc., Microsoft Corporation, Core systems AG
Market Segment Analysis:
By Component
- Software
- Services
By Application
- Service Contract Management
- Reporting & Analytics
- Work Order Management
- Schedule, Dispatch, and Route Optimization
- Customer Management
- Inventory Management
- Others (Resource Management, Technician and vehicle Tracking, Etc.)
By Deployment
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- Transportation & Logistics
- Construction & Heavy Equipment
- Energy & Utilities
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecom
- Healthcare & Life Sciences
- Manufacturing
- Others (Government, Media & Entertainment, Education, Etc.)
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Field Service Management (FSM) industries in the region.
Key Field Service Management (FSM) Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Field Service Management (FSM) Market segments.
– Largest Market Share Held by Industry to Industry for Field Service Management (FSM)
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Field Service Management (FSM) Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.