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Field Service Management (FSM) Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4622416
  • Report
  • 120 pages
  • Mordor Intelligence
UP TO OFF
until Mar 31st 2020
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FEATURED COMPANIES

  • Accruent, LLC
  • Astea International Inc.
  • Infor, Inc.
  • Jobber, Inc.
  • Microsoft Corporation
  • MSI Data Corporation
  • MORE
Market Overview

The field service management market was valued at USD 3.14 billion in 2019 and is expected to reach a value of USD 7.05 billion by 2025 registering a CAGR of 14.44% during the forecast period (2020 - 2025). The Field service industry has been witnessing rapid growth over the last few years buoyed by the increasing demand for time and cost-effective solutions. The number of field technicians operating globally has already reached the 20 million mark and is expected to grow further over the forecast period.
  • The preference for software-as-a-service (SaaS) instead over the traditional on-premise software is set to increase considerably over the forecast period, aided by the growing demanding for better and faster service. For instance, according to Astea International, in 2018, 42% of field service organizations have already deployed Internet of Things (IoT) into their business, and 31% are planning to deploy it in the next two years.
  • The rising need to differentiate services, increase customer satisfaction, lower the labor costs, and improve overall efficiency and productivity transcends business size, particularly in highly-competitive markets. This makes it essential for field organizations to implement FSM solutions leading to the growth of the market.
Scope of the Report

The scope of the study defines the market on the basis of solution as inventory management, service contract management, work order management, mobile field service management and schedule & dispatch with services provided as managed and professional in nature.

Key Market Trends

Inventory Management to Hold Significant Market Share
  • The increase in adoption of mobile devices in several service segments has helped the task of inventory management. In the current market scenario, inventory management systems are deployed in several mobile devices to help service organizations to leverage data collected from the field to improve their parts planning and forecast. (Microsoft Dynamics 365)
  • Since most of the technicians carry and manages spare parts, policies like BYOD allow technicians to monitor and update their inventory from a mobile devices greatly simplifying parts management.
  • For example, General Electric’s (GE) ServiceMax FSM software even allows technicians to track and search spare parts in their fleet to facilitate exchanges between technicians if necessary. Such practices are greatly seen in the consumer electronics service industries and several B2B operations.
  • Further increasing availability SaaS solutions and value add features such as system alerts, analytics services provide by the inventory management solutions are expected to increase the affordability and efficiency of the inventory management solutions, greatly increasing their adoptions among large and small organizations alike.
Asia-Pacific to Witness Significant Growth Rate
  • China is expected to dominate the regional field service management market and it’ s rapid rate of growth is attributed as the country is being home to a large number of SMEs which are highly involved in the development and adoption of field services and their management solutions.
  • China is one of the largest E-Commerce markets in the world. The expansion in the sector is a major driver for the adoption of FMS solutions. And as more and more new retail is shifting from a novel concept to the mass market sector, the need for the management of filed service will also grow.
  • The field service management market has a vast scope in India mainly due to large-scale industrialization. With enhanced geographic zones and a high client base, the country is expected to exhibit strong growth in the field service management market. The increasing number of technology users in the country further propels the growth of the field service management market.
  • The 2020 Olympics, growing government investments in the reconstruction of properties destroyed by natural disasters and plans to replace old oil and gas plants at Yokosuka by 2023 are some of the major factors which not only expanding Japan's construction industry but also developing space for field services market too.
Competitive Landscape

The market landscape of the FSM market remains quite fragmented though the demand for FSM software solutions over the past several years has been consistent. Various vendors of pre-packaged FSM software solutions exist, but no single FSM vendor has ever dominated the global market or any regional markets. There are several mergers, partnerships and collaborations happening in the market among the players.
  • In April 2019 - Astea International Inc., partners to integrate Baxter Planning’s service parts planning software into the Astea Alliance Enterprise field service management and mobility platform to offer large, complex service organizations, reduced total inventory carrying costs.
  • In April 2019 - Astea International Inc., announced launch of Alliance Enterprise Spring 2019, the latest version of its award-winning Alliance field service management and mobility platform.
  • In February 2019 - PTC and IFS partnered to deliver powerful field service management and aerospace & defense solutions optimizing people and parts for improved service delivery and execution efficiency.
Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Accruent, LLC
  • Astea International Inc.
  • Infor, Inc.
  • Jobber, Inc.
  • Microsoft Corporation
  • MSI Data Corporation
  • MORE
1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Growing Adoption of Mobility Solutions and Emergence of a Connected System
4.5 Market Restraints
4.5.1 FSM Organizations Pressurized To Meet Revenue as Well Product Demands

5 MARKET SEGMENTATION
5.1 By Deployment Type
5.1.1 On-premise
5.1.2 Cloud
5.2 By Solution
5.2.1 Inventory Management
5.2.2 Service Contract Management
5.2.3 Work Order Management
5.2.4 Mobile Field Service Management
5.2.5 Schedule and Dispatch
5.2.6 Other Solutions
5.3 By Organisation Size
5.3.1 Small and Medium Enterprises
5.3.2 Large Enterprises
5.4 By Service
5.4.1 Managed Service
5.4.2 Professional Service
5.5 By End User
5.5.1 Telecom
5.5.2 IT
5.5.3 Energy
5.5.4 BFSI
5.5.5 Manufacturing
5.5.6 Construction
5.5.7 Transportation and Logistics
5.5.8 Healthcare
5.5.9 Other End Users
5.6 Geography
5.6.1 North America
5.6.1.1 United States
5.6.1.2 Canada
5.6.2 Europe
5.6.2.1 United Kingdom
5.6.2.2 Germany
5.6.2.3 France
5.6.2.4 Rest of Europe
5.6.3 Asia-Pacific
5.6.3.1 China
5.6.3.2 India
5.6.3.3 Japan
5.6.3.4 Rest of Asia-Pacific
5.6.4 Latin America
5.6.4.1 Brazil
5.6.4.2 Argentina
5.6.4.3 Mexico
5.6.4.4 Rest of Latin America
5.6.5 Middle East & Africa
5.6.5.1 United Arab Emirates
5.6.5.2 Saudi Arabia
5.6.5.3 South Africa
5.6.5.4 Rest of Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Astea International Inc.
6.1.2 Oracle Corporation
6.1.3 ServiceMax, Inc.
6.1.4 SAP SE
6.1.5 Industrial and Financial Systems, AB
6.1.6 Microsoft Corporation
6.1.7 Praxedo Inc.
6.1.8 Retriever Communications Pty Ltd.
6.1.9 Infor, Inc.
6.1.10 Salesforce Inc. (ClickSoftware, Inc.)
6.1.11 Jobber, Inc.
6.1.12 Accruent, LLC
6.1.13 GlideSys Technologies US, Inc.
6.1.15 MSI Data Corporation

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Astea International Inc.
  • Oracle Corporation
  • ServiceMax, Inc.
  • SAP SE
  • Industrial and Financial Systems, AB
  • Microsoft Corporation
  • Praxedo Inc.
  • Retriever Communications Pty Ltd.
  • Infor, Inc.
  • Salesforce Inc. (ClickSoftware, Inc.)
  • Jobber, Inc.
  • Accruent, LLC
  • GlideSys Technologies US, Inc.
  • MSI Data Corporation
Note: Product cover images may vary from those shown
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