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Global Field Service Management Market By Components (Solution and Services), By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Enterprises, Small & Medium-sized Enterprises), By Verticals (Telecom, Healthcare and Life Sciences, IT and ITeS, Manufacturing, Transportation and Real Estate, Construction and Real Estate, Oil and Gas, Transportation and Logistics, Energy and Utilities, and Others) and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)-Global Forecast to 2027
Global Field Service Management Market Overview:
Field services management involves managing the resources employed by a company. FSM more generally applies to organizations that have to handle network or device deployment, operation, or repair. It helps coordinate field operations via mobile phones. It may also allude to software as well as cloud-based platforms that help in the field service management. The field service management program offers multiple advantages, including real-time work order and progress interaction, mission reporting, customer origination, and operating history. Field Service Management is gaining momentum across various characteristics, in particular through the practice of providing field service via third-party agents and the contractors. Field service management also integrates processes for billing, distribution, accounting, and service, helping the organizations to achieve the highest productivity in one ‘s field services.
Global Field Service Management Market Insights
The Global Field Service Management market size was valued at USD 3.4 billion in 2019 and projected to reach USD 9.5 billion by 2027, growing at a CAGR of 13.5% during the forecast period, 2020-2027 owing to the swift implementation of field service management software across the globe in the small and medium sized organizations. In addition, over the past few years, the field service management industry has seen exponential growth, which is largely fueled by the mounting demand for time and cost-effective solutions. Furthermore, the rapid growth in the use of tablets and smartphones is also projected to propel the global field service management market at a significant rate. Moreover, increasing preference for the exclusion of paper processes in the field service operations coupled with the rising upgradation in the technology to upsurge the business efficiency is anticipated to drive the global market. Moreover, the required growth to track the activities, which take place in the field is also expected to fuel the field service management market across the globe.
However, the outbreak of covid-19 is projected to challenge the growth of the market. The rising concern about the data confidentiality of the organizations and the lack of skilled experts are estimated to create hindrance in the growth of the field service management market. The execution cost is also one of the vital factors which are expected to limit the growth over the forecasted period of 2020-2027 across the globe.
Growth Driver
Rising acceptance of digitalization and automation in the services sector
The growing acceptance of digitalization and automation in the service sector is on the rise due to changes in the demands of the customers, which is projected to fuel the global field service management market by 2027. Field service companies are switching their operating structures from conventional activities to modernizing activities. Automation allows workers to increase their efficiency so they can support their customer’s needs. It allows the adaptation to respond to the needs of the field operator over the day and eliminating inefficient operations and save costing. As a result, organizations are adopting automation, which is fueling the global market.
Increase in mobility demand
The rise in the mobility demand for real-time visibility is expected to drive the market at a significant rate across the globe. The monitoring of the field service technicians estimated to aid in the timely dispatch of the nearest technicians to resolve an issue. Technicians can also reset a machine remotely or install new applications and software by using the field service management systems instead of heading to the location. In addition, the customer will also track the movement of the technician via mobile application. As a result, it helps the customer by delivering the service at a fast pace, which projected to fuel the field service management market.
COVID-19 Impacts Insights
Recently, the outbreak of COVID-19 has vigorously affected the healthcare system of developed and developing economies across the globe. The health issue has an unprecedented effect on companies around various industries. Field service management is also experiencing the challenges in ensuring the safety and leading the team efficiently & effectively. The risk is running high compared to before the pandemic. It is more critical to an organization to built confidence among the employees, which was around 70% before the pandemic.
Component Segmental Analysis
Based on the component, the global field service management market segregated into solution and services. The solution segment is estimated to lead the global market as the solution system enables companies by having a centralized platform to utilize their production activities effectively. These solutions also help reduce the warranty costs & reserves quickly, predict the accuracy, surge the supplier recovery, and improve cash flow to maximize productivity, which is anticipated to drive the market.
However, the service segment is projected to have a significant growth rate by 2027, owing to the rapid growth in the integration and implementation services. In addition, it helps in deploying the software of field service management. Furthermore, it also offers assistance to its workers and organizations on numerous issues, such as employee progress, worker productivity, and consumer and inventory.
Deployment Mode Segmental Analysis
Based on the deployment, the global field service management market is bifurcated into cloud and On-premises. The cloud segment is expected to dominate the market and estimated to continue its dominance by 2027 across the globe due to the various application of cloud-based field service management such as data backup and data security. In addition, it also helps in accessing the business remotely. Cloud-based field service management solutions are growing traction in the industry as field personnel, field technicians, and consumers generate enormous data. Industries are increasingly shifting their data from the on-premise to the cloud-based, as cloud facilities’ application results in greater work progression.
However, the On-premises segment is anticipated to have considerable growth owing to its flexibility of nature. In addition, On-premises software needs a larger space for its disposition, which is expected to fuel the market.
Organization Size Segmental Analysis
Based on the organization size, the global field service management market classified into Large Enterprises, Small & Medium-sized Enterprises. The large enterprises segment is holding the largest share owing to its occurrence of hefty workforces. Enterprises rely on the integration of data from all branches and fleets of businesses, which expected to fuel the global field service management market during the forecast period of 2020-2027. Field service management approaches are essential for large organizations owing to the extensive client records and enormous data.
Small and medium sized enterprises segment is estimated to have a significant growth rate across the globe. The number of employees in such enterprises is less; therefore, small and medium sized enterprises are progressively adopting field service management in their company, which helps boost business efficiency and propel the global market.
Verticals Segmental Analysis
Based on the verticals, the global field service management market is segmented into Telecom, Healthcare and Life Sciences, IT and ITeS, Manufacturing, Transportation and Real Estate, Construction and Real Estate, Oil and Gas, Transportation and Logistics, Energy and Utilities, and Others. The transportation segment is projected to dominate the market by 2027 as the field service management is an important expenditure sector for manufacturers. They try to adapt to the demand for stronger customer attention. In addition, the construction segment is estimated to grow at a considerable rate due to the rising population among the emerging nations such as India and China.
However, the transportation and logistics segment anticipated to have the fastest growth rate in the vertical segment as many companies has implemented numerous field service management approaches, computer programs, and technology to meet increasing consumer demands.
Region Segmental Analysis
By geography, the global field service management market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to dominate the global field service management market during the forecasted period of 2020-2027 due to the upgradation in the technology coupled with the research and development activities across the region. In addition, the presence of a large numeral of vendors with the implementation of mobility solutions is also projected to fuel the global market.
However, the Asia Pacific region is estimated to have the fastest growth rate compared to other regions due to the high energy demand among the consumers. In addition, the rapid development of healthcare industries in the emerging economies is also expected to fuel the global field service management market.
Competitor Analysis
Companies such as Microsoft, SAP, Oracle, ServiceMax, Salesforce, IFS, Infor, Comarch, OverIt, Trimble, FieldAware, ServiceTitan, Zinier, ServicePower, Accruent, Praxedo, FieldEZ, FieldEdge, GeoConcept, and Jobber are the key players in the global Field Service Management market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global Field Service Management manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to Field Service Management
- Regulatory bodies
- Suppliers
- Retailers
Recent Developments
- In September 2021, CLEVR launched Field Services Manager (FSM), which is designed to cut costs, shrink the carbon footprint and tackle staffing challenges.
- In September 2021, Pluralsight, Inc., and OverIT entered into a strategic partnership to support its technology skills development to operate its growth strategy and development of new products.
- In August 2021, Syncron and Mize announced the merger of Mize, Inc., with Syncron to develop a single platform portfolio of SaaS solutions to market.
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Components
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
By Deployment Mode
- Cloud
- On-Premises
By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Global Field Service Management Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Supply Chain Analysis
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- New Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Global Field Service Management Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- Solution
- By Component
- Demand
- Market Size & Forecast, 2016-2027
- North America Field Service Management Market Overview
- North America Field Service Management Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- North America Field Service Management Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Country
- US
- Canada
- Mexico
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Field Service Management Market
- Solution
- By Component
- Demand
- North America Field Service Management Market Size & Forecast, 2016-2027
- Europe Field Service Management Market Overview
- Europe Field Service Management Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- Europe Field Service Management Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Field Service Management Market
- Solution
- By Component
- Demand
- Europe Field Service Management Market Size & Forecast, 2016-2027
- Asia Pacific Field Service Management Market Overview
- Asia Pacific Field Service Management Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- Asia Pacific Field Service Management Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Field Service Management Market
- Solution
- By Component
- Demand
- Asia Pacific Field Service Management Market Size & Forecast, 2016-2027
- South America Field Service Management Market Overview
- South America Field Service Management Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- South America Field Service Management Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Country
- Brazil
- Argentina
- Rest of South America
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Field Service Management Market
- Solution
- By Component
- Demand
- South America Field Service Management Market Size & Forecast, 2016-2027
- Middle East & Africa Field Service Management Market Overview
- Middle East & Africa Field Service Management Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Billion)
- Middle East & Africa Field Service Management Market Share & Forecast, 2016-2027
- By Component
- Solution
- Schedule, Dispatch and Route Optimization
- Work Order Management
- Customer Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Services
- Integration and Implementation
- Consulting
- Training and Support
- By Deployment Mode
- Cloud
- On-Premises
- By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- By Verticals
- Telecom
- Healthcare and Life Sciences
- IT and ITeS
- Manufacturing
- Transportation and Real Estate
- Construction and Real Estate
- Oil and Gas
- Transportation and Logistics
- Energy and Utilities
- Others
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Field Service Management Market
- Solution
- By Component
- Demand
- Middle East & Africa Field Service Management Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Microsoft
- SAP
- Oracle
- ServiceMax
- Salesforce
- IFS
- Infor
- Comarch
- OverIt
- Trimble
- FieldAware
- ServiceTitan
- Zinier
- ServicePower
- Accruent
- Praxedo
- FieldEZ
- FieldEdge
- GeoConcept
- Jobber
- Other Prominent Players
Frequently Asked Questions (FAQ):
Field service management is the system of managing the resources employed by a company. It involves scheduling work orders, tracking labor hours and job status, dispatching service technicians, and invoicing the completed job.
Companies like construction and utilities, health care assistance and home repairs are some examples of businesses that use field service management.
The Global Field Service Management market is valued at USD 3.86 billion in 2020 and will reach USD 9.5 billion by 2027.
The Global Field Service Management market is growing at a CAGR of 13.5% during the forecast period, 2021-2027.
The rising adoption of digitalization and automation in the services sector and increased mobility demand are driving factors in the Field Service Management market.
