Field Service Management Market

Global Field Service Management Market is valued at USD 3.84 Billion in 2021 and expected to reach USD 10.08 Billion by 2028 with a CAGR of 14.76% over the forecast period.

Global Field Service Management Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Rising demand for mobility for real-time monitoring & updates, growing adoption of automation & digitization, and increasing requirement to track of activities in the field are some of the major factors driving the growth of Global Field Service Management Market.

Scope of Global Field Service Management Market

Field administration management (FSM) is the coordination of an organization's assets, including equipment and employees, in work exercises and operations of organization property. Normal instances of field services incorporate sales, conferences, repair and maintenance, client support, and customary reviews. Field service management normally includes dispatching contractors or workers to a location outside the organization's premises to install, maintain or fix equipment, systems, or resources. Field administration managers monitor an association's field assets and coordinate the work of field service professionals who convey talented, particular, or proprietary services to customers. Successful field service management solutions coordinate information from big business asset management systems with remote data from the field including IoT and cell phones to assist an organization with dealing with its resources.

The Covid-19 pandemic has shown a positive impact on the global field service management market. As field service management advancements are assisting enterprises with tending to the broad limited interest of field administration. Many organizations are progressively adopting policies like Bring Your Own Device (BYOD), which permit their experts to utilize their devices like cell phones and laptops for work, which isn't just lessening the overall IT cost yet offering the accessibility of tools for field workers and their security as well. However, construction and manufacturing in different nations have closed down. Then again, associations across the energy and utility industry are moving to remote ways of working.

The global field service management market is segmented on the basis of component, deployment, organization size, industry vertical, and region & country level. Based upon components, the global field service management market is classified into solution and services. Based upon deployment, the market is classified into on-premise and cloud. Based upon organization size, the field service management market is classified into large enterprise and SMEs. Based upon industry vertical, the global field service management market is classified into healthcare & life science, IT & telecom, BFSI, manufacturing, construction, transportation & logistics, energy & utilities, and others.

The regions covered in global field service management market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global field service management is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players for Global Field Service Management Market

Some major key players for global field service management market report cover prominent players like

• Salesforce
• Oracle
• FieldAware
• Microsoft
• ServiceMax
• SAP
• Trimble
• Comarch
• OverIT
• Geoconcept
• Zinier
• Accruent
• IFS
• Infor
• ServicePower
• others.

Field Service Management Segmentation

By Component:

• Solution
• Services

 By Deployment:

• On-premise
• Cloud

By Organization Size:

• Large Enterprise
• SMEs

By Industry-Vertical:

• Healthcare & Life Science
• IT & Telecom
• BFSI
• Manufacturing
• Construction
• Transportation & Logistics
• Energy & Utilities
• Others

News-

GPS Insight Launched Field Service Management for Dummies

On July 15^th, 2022; GPS Insight announced the arrival of Field Service Management for Dummies, a free digital book to assist guide tasks leaders, entrepreneurs, and service supervisors to the right field service management solution for their business without an over-burden of specialized language.

ServiceMax Acquired Liquid Frameworks to Advance Field Service Management Solutions in the Energy Sector

On July 15^th, 2021; ServiceMax announced it has signed a conclusive arrangement to acquire LiquidFrameworks. The acquisition empowers ServiceMax to grow its field service management solutions to address the remarkable difficulties of the energy sector. As the organization conveyed a separated, strategic SaaS offering that helped clients in the oil, gas, and industrial services industry respond rapidly and proficiently explore the digital transformation journey

ServiceNow Innovated Field Service Management to Drive Exceptional Experiences

On May 11^th, 2021; ServiceNow announced advancements to its Field Service Management solution at Information 2021, ServiceNow's flagship digital insight for its clients, partners, and engineer community. The updates give present-day, computerized work processes to deliver better generally speaking client experiences and deal with the rising complexities of field service work while guaranteeing the security of both experts and clients.

Servicemax Released Engage Field Service Management App

On March 16^th, 2021; ServiceMax released Engage, a turnkey mobile application that associates its field service management users with their clients, which provides the clients with a more cutting-edge image of their resources in the field and provides their clients with a view of the benefits their service contracts bear the cost of them. For clients of ServiceMax users, the application can book appointments, empower self- service, interface them with an agent capable specialist to take care of an issue without dispatching a truck roll, and outline the advantages to which their entitled by means of a company's service contract.

Rising Demand for Mobility for Real-Time Monitoring & Updates, Growing Adoption of Automation & Digitization, and Increasing Requirement to Track of Activities in the Field to Drive the Market Growth

One of the major factors driving the growth of the global field service management market is the rising demand for mobility for real-time monitoring & updates. A real-time update of their laborers works with organizations in addressing to client issues in the main endeavor by connecting them to the closest connecting accessible and is a significant reason for the rising popularity of these solutions. The real-time field service systems are noticing expanding demand across businesses to push client satisfaction. The real-time monitoring and management of field experts grant organizations to determine client inquiries in the new endeavor by connecting them with the nearest service provider. Hence, these solutions are achieving traction across all organizations which drives the field service management market. For instance; on June 15^th, 2022, Ctrack announced a partnership to help field service fleet tasks. The organizations will incorporate their respective fleet telematics and field service management software solutions for empowering associations to coordinate remote teams in real-time utilizing real-time information.

In addition, growing adoption of automation & digitization is also supplementing the market growth. With creative methodologies, insight-enriched client connections, and highly advanced algorithms and examination, organizations are changing the manner in which they convey and deliver products and services. The software merchants are adopting client-driven pricing methodologies empowered by technological advancements. For example; on September 13^th, 2022, FieldBin launched a field service management solution for trade professionals. Its application is intended to help HVAC, electrical, plumbing, landscaping, and other trade organizations deal with each part of their business in one, simple-to-utilize platform. FieldBin is the simplest software tool for hard-working, field service exchange entrepreneurs and groups who need to decrease the issue of back-office operations, cut down on paperwork, and get more cash-flow.

Furthermore, the increasing requirement to track of activities in the field also drives the global field service management market. For instance; in October 2021, Microsoft delivered an update that will permit administrators to handily implant an Dynamics 365 Customer Voice survey into their Field Service client experience entry as a feature of the Track my expert experience. The study will be proposed to clients as a characteristic move toward their booking lifecycle following a overall help visit. Survey results are attached back to the completed booking, giving bits of knowledge that can be related to moves initiated during that service visit. However, security fears of organizations related to data confidentiality may hamper the global field service management market growth. In spite of that, emergence of advanced technologies like augmented reality can provide various opportunities for the further growth of the market.

North America is Anticipated to Dominate the Global Field Service Management Market

North America is expected to dominate the global field service management market within the forecast period due to the growing demand for mobility enterprises and continuous improvement of field service operations, technological advancements, and the presence of key players in this region. Growing demand for mobility enterprises and continuous improvement of field service operations in the North America region drives the field service management market. For instance; in August 2021, IFS reported that American Private Services (ARS/Salvage Rooter), around-the-clock residential HVAC and plumbing administrations supplier in the U.S., is executing IFS’s field service software to further develop staff plans, client experience, and benefit. Sent in the cloud, service software is supposed to assume a vital role in upgrading worker efficiency and carrying technicians and components to the perfect time, planning, and sending capacities. In addition, the presence of key players in the region also drives the market growth. For example; in June 2021, FieldAware announced that Flash Power, a main free supplier of power services in North America, will consolidate FieldAware's field service management systems and the FieldAware for NetSuite SuiteApp across each of their field service actions.

The Asia Pacific is anticipated to grow faster in the global field service management market due to the increasing number of small and medium enterprises growing adoption of field service management in the region. The fast growth in the adoption of field service management solutions by small and medium-sized businesses is expected to further boost the market growth in the Asia Pacific region over the forecast period. For example; according to MSME Ministry’s FY19 annual report, India houses close to 6.33 crore MSMEs (micro, small and medium enterprises).

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 3.84 Billion
Base year considered	2021
Forecast Period CAGR %:	14.76%
Market Size Expected in 2028:	USD 10.08 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Salesforce, Oracle, FieldAware, Microsoft, ServiceMax, SAP, Trimble, Comarch, OverIT, Geoconcept, Zinier, Accruent, IFS, Infor, ServicePower, and others.
Segments Covered	By Component, By Deployment, By Organization Size, By Industry-Vertical, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa