Global Field Service Management Market- Industry Analysis And Forecast (2020-2027)

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Global Field Service Management Market- Industry Analysis and Forecast (2020-2027)

Global Field Service Management Market was valued US 3.80 Bn. in 2019 and is expected to reach US$ 12.40 Bn. by 2027, at a CAGR of 18.41 % during a forecast period.

 

The field service management solution helps to streamline all the processes associated with the field operation. The Field Service industry is witnessing the rapid growth because of the increase the demand for effective solution.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Field Service Management Market, Dynamics:

Digitization is creating new opportunities for organizations to optimize their relationship with customers. Many organizations are adopting an emerging technologies like Augmented Reality (AR), Internet of Things (IoT), Big Data, Machine Learning (ML), and Artificial Intelligence (AI) are expected to increase the demand for better service results. Field service organizations are adopting advanced technologies to record, analyze, and suggest the right mode of service that is expected to boost the market growth.

However, security concern with the field service management system is expected to limit the market growth. Furthermore, the field service organizations are planning to usage robotics and 3D printing to answer service call requests, and fix technical issues through virtual connectivity is expected to provide opportunities to the key players in the market.
Global Field Service Management Market, Segment Analysis:

The cloud deployment segment is expected to grow at a XX% rate of CAGR during the forecast period. An increase in the adoption of cloud deployment is expected to boost the market growth. Organizations are gradually moving their storage from on-premise to the cloud, which results in better efficiency of work processes and increased storage space. Cloud deployment assists to keep capital and operational expenses of an organization minimum. It also helps to save capital costs with zero in-house server storage and application requirements. Cloud-based FSM solutions deliver flexibility, scalability, low cost, and real-time access to data.
The Large enterprises are adopting the software because of the presence of a large workforce. It helps in maintaining employee records, their individual performance statistics, sub-contracting, and document maintenance. The FSM software makes usage of mobile computing to increase communication with field workers, streamline work processes, and develop productivity.
Global Field Service Management Market, Regional Analysis:

North America held the dominant position in the global field service management market and is projected to continue its dominant position in the market during the forecast period. An increase in the penetration of internet, communicating devices, and mobiles are expected to boost the growth of the market in the region. The region is a major hub for technological innovations and an early adopter of innovative technologies. Presence of prominent key players in the region increases awareness and supports the demand concerning the adoption of the market.

However, the Asia Pacific region is expected to grow at a XX% rate of CAGR duing the forecast period. The regional market is gaining traction, especially with the practice of delivering field services through contractors and third-party agents. Rapid expansion of communication network infrastructure, the rise in preference of enterprise mobility solutions, and importance in transparency in field operations is expected to drive the Asia Pacific field service management.
Global Field Service Management Market, Competitive Analysis:

The global field service management market is experienced the moderate competition with the presence of a major global players and other small key players, which offers the FSM solutions. The FSM industry is witnessing mergers and acquisitions to increase the inorganic growth strategy amongst software development key players. Some of the prominent key players are focusing on the innovative technology. In 2019, oracle corporation introduced Cloud logistics cloud that connects customer experience, field service and supply chain.

The objective of the report is to present a comprehensive analysis of the Global Field Service Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Field Service Management Market dynamics, structure by analyzing the market segments and projects the Global Field Service Management Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Field Service Management Market make the report investor’s guide.
Scope of the Global Field Service Management Market: Inquire before buying

Global Field Service Management Market, By Component

• Solutions
 Schedule, Dispatch, and Route Optimization
 Customer Management
 Work Order Management
 Inventory Management
 Service Contract Management
 Reporting and Analytics
 Others (Billing and Invoicing, and Tracking and Performance Management)
• Services
 Consulting
 Integration and implementation
 Training and support
Global Field Service Management Market, By Deployment Type

• Cloud
• On-premises
Global Field Service Management Market, By Organization Size

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
Global Field Service Management Market, By Vertical

• IT and Telecom
• Healthcare and Life Sciences
• Manufacturing
• Transportation and Logistics
• Construction and Real Estate
• Energy and Utilities
• Others (BFSI and retail)
Global Field Service Management Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Field Service Management Market

• Infor
• Salesforce
• Trimble
• Overit
• Fieldaware
• Zinier
• Fieldez
• Geoconcept
• Oracle
• SAP
• Microsoft
• Clicksoftware
• Servicemax
• Astea
• Comarch

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