FEATURED COMPANIES
- Comarch SA
- IFS AB
- Infor
- Microsoft
- Oracle Corporation
- OverIT
Field service management (FSM) solution is an automated system, which streamlines all the processes associated with the field operations. Field service providers can schedule the orders and dispatch the right agent to the right work location and track the vehicles by using field service software. FSM solution enables companies to automate entire field management which helps in minimizing number of errors and delay. Thus, enabling companies in timely completion of field operations.
Increase in need for automation in field service operations, rise in need for real time visibility in field service management, proliferation of mobile devices, shifting preference toward cloud-technology, and need to keep track of all the activities & resources associated with field services are some of the key factors that drive the growth of the global field service management market. In addition, the need for managing service contracts, scheduling & dispatching field workers, and for achieving efficient performance from optimum utilization of field resources, is further propelling the demand of field service management solutions. However, scarcity of skilled labors and security concerns in terms of data privacy impede the growth of the market. On the contrary, integration of advanced technologies such as AI, augmented and virtual reality, machine learning with the field service management software and adoption of IoT driving the demand for cloud-based FSM solutions are some of the factors offering significant growth opportunities to the global field service management market during the forecast period.
The market is segmented on the basis of component, deployment, organization size, industry vertical, and region. By component, the market is divided into software, and services. The solution segment is sub-divided into segments such as schedule, dispatch, & route optimization, customer management, work order management, inventory management, service contract management, reporting & analytics, and others. The services segment is further categorized into implementation & integration, training & support, consultancy services. On the basis of deployment, the market is classified into on-premise and cloud. According to organization size market is classified into large enterprises and small & medium sized enterprises (SMEs). As per industry verticals, market is divided across IT & telecom, healthcare & life sciences, manufacturing, BFSI, transportation & logistics, energy & utilities, construction and others. Based on region, the global field service management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes a comprehensive analysis of the key players operating in the field service management market, which includes Oracle Corporation, Microsoft, IFS AB, Salesforce.com Inc., ServiceMax, OverIT, Comarch SA, Infor, Praxedo, and SAP SE.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Deployment
By Organization Size
By Industry Vertical
By Region
KEY MARKET PLAYERS
Increase in need for automation in field service operations, rise in need for real time visibility in field service management, proliferation of mobile devices, shifting preference toward cloud-technology, and need to keep track of all the activities & resources associated with field services are some of the key factors that drive the growth of the global field service management market. In addition, the need for managing service contracts, scheduling & dispatching field workers, and for achieving efficient performance from optimum utilization of field resources, is further propelling the demand of field service management solutions. However, scarcity of skilled labors and security concerns in terms of data privacy impede the growth of the market. On the contrary, integration of advanced technologies such as AI, augmented and virtual reality, machine learning with the field service management software and adoption of IoT driving the demand for cloud-based FSM solutions are some of the factors offering significant growth opportunities to the global field service management market during the forecast period.
The market is segmented on the basis of component, deployment, organization size, industry vertical, and region. By component, the market is divided into software, and services. The solution segment is sub-divided into segments such as schedule, dispatch, & route optimization, customer management, work order management, inventory management, service contract management, reporting & analytics, and others. The services segment is further categorized into implementation & integration, training & support, consultancy services. On the basis of deployment, the market is classified into on-premise and cloud. According to organization size market is classified into large enterprises and small & medium sized enterprises (SMEs). As per industry verticals, market is divided across IT & telecom, healthcare & life sciences, manufacturing, BFSI, transportation & logistics, energy & utilities, construction and others. Based on region, the global field service management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes a comprehensive analysis of the key players operating in the field service management market, which includes Oracle Corporation, Microsoft, IFS AB, Salesforce.com Inc., ServiceMax, OverIT, Comarch SA, Infor, Praxedo, and SAP SE.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global field service management market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global field service management market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
By Component
- Solution
- Schedule, Dispatch, and Route Optimization
- Customer Management
- Work Order Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Others
- Services
- Implementation & integration
- Training & support
- Consultancy services
By Deployment
- On-premise
- Cloud
By Organization Size
- Large enterprises
- Small & Medium sized Enterprises (SMEs)
By Industry Vertical
- IT & Telecom
- Healthcare & life sciences
- Manufacturing
- BFSI
- Transportation & Logistics
- Energy & Utilities
- Construction
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Comarch SA
- IFS AB
- Infor
- Microsoft Corporation
- Oracle Corporation
- OverIT
- Praxedo
- Salesforce.com, Inc.
- SAP SE
- ServiceMax
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Comarch SA
- IFS AB
- Infor
- Microsoft
- Oracle Corporation
- OverIT
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FIELD SERVICE MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: FIELD SERVICE MANAGEMENT MARKET, BY DEPLOYMENT
CHAPTER 6: FIELD SERVICE MANAGEMENT MARKET, BY ORGANIZATION SIZE
CHAPTER 7: FIELD SERVICE MANAGEMENT MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: FIELD SERVICE MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Comarch SA
- IFS AB
- Infor
- Microsoft
- Oracle Corporation
- OverIT
According to the report titled, 'Field Service Management Marke by Component, Deployment, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global field service management market size was valued at $3.12 billion in 2018, and is projected to reach $10.81 billion by 2026, growing at a CAGR of 16.9% from 2019 to 2026.
Field service normally means dispatching employees or contractors to specific locations to install, repair, or maintain systems or equipment. Field service management (FSM) is a system designed to keep track of different components of field operations. These components usually include inventory management, scheduling, vehicle tracking, dispatching, invoicing, billing, customer portals, and others. Field service management seeks to improve deliverability and productivity of field service teams. Some of the key advantages of FSM include accessibility to customer information from any location, decrease in operational overheads and fuel expenses, management of mobile workforce, improvement of productivity, and enhancement of customer satisfaction.
Ongoing modernization of older & manual field service management operations, rise in demand for field service mobility with IoT, increase in demand for automation, rise in need for time and cost-effective solutions, increase in need for advanced field service management solution to optimize utilization of resources for gaining competitive edge and handle large field workforce are the factors that majorly boost the growth of the global field market. However, scarcity of skilled employees to operate the FSM software and security concerns in terms of data privacy are expected to hamper the market growth. On the contrary, increase in adoption of emerging technology such as AI, AR, VR, machine learning & IoT are expected to offer lucrative opportunities to the market owing to bringing advanced functionalities to the FSM solutions.
The on-premise segment held the majority of global field service management market share in 2018, and is projected to maintain its dominance during the forecast period. Although, cloud deployment of FSM solution is expected to witness highest growth rate of 18.7% during 2019-2016. This is attributed to key benefits offered by cloud-based software such as increasing demand for mobility in field service operations, lower cost, great availability and ease of implementation. Cloud deployment is also expected to gain traction in the coming years owing to the need for more agility, and scalability.
The transportation & logistics segment is expected to witness highest growth rate in global field service management market during the forecast period. Increase in vehicle fleet utilization, reduction in unloading time, improved ETA accuracy, less vehicle maintenance cost, rise in number of deliveries, greater delivery resource optimization, increased haul route visibility, and optimum route planning are the crucial factors that lead to the increase in demand for field service management software & services in transport & logistics sector.
Region wise, the global field service management market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. It is the home to majority of the key players in the field service management market, which makes it a lucrative hub for innovation in the market. Factors, such as, increase in awareness about advanced field management solution, cloud technology adoption, and significant adoption of mobility in the field service industry drive the growth of the FSM market in North America. Furthermore, market players are adopting various business strategies including partnership, merger & acquisition to increase their market share and improve the revenue, which is again expected to impact positively on the growth of field service management market in North America. For instance, in February 2019, ServiceMax announced the acquisition of Zinc. This acquisition will help ServiceMax to improvise its FSM products and enable real-time & contextual communication.
According to PramodBorasi and Vishwa Gaul, Research Analysts, ICT, “Field service management market is expected to grow in the Asia-Pacific region during the forecast period of 2019-2026 owing to proliferation of mobile devices, increase in penetration of internet services, and surge in advancements in telecom industry. Adoption of IoT technology, increasing development of construction & engineering industry in developing economies including India & China further boosts the demand of FSM solution in Asia-Pacific region”
KEY FINDINGS OF THE STUDY
The global field service management market analysis includes some of the key market players such as Oracle Corporation, Microsoft, IFS AB, Salesforce.com Inc., ServiceMax, OverIT, Comarch SA, Infor, Praxedo, and SAP SE
Field service normally means dispatching employees or contractors to specific locations to install, repair, or maintain systems or equipment. Field service management (FSM) is a system designed to keep track of different components of field operations. These components usually include inventory management, scheduling, vehicle tracking, dispatching, invoicing, billing, customer portals, and others. Field service management seeks to improve deliverability and productivity of field service teams. Some of the key advantages of FSM include accessibility to customer information from any location, decrease in operational overheads and fuel expenses, management of mobile workforce, improvement of productivity, and enhancement of customer satisfaction.
Ongoing modernization of older & manual field service management operations, rise in demand for field service mobility with IoT, increase in demand for automation, rise in need for time and cost-effective solutions, increase in need for advanced field service management solution to optimize utilization of resources for gaining competitive edge and handle large field workforce are the factors that majorly boost the growth of the global field market. However, scarcity of skilled employees to operate the FSM software and security concerns in terms of data privacy are expected to hamper the market growth. On the contrary, increase in adoption of emerging technology such as AI, AR, VR, machine learning & IoT are expected to offer lucrative opportunities to the market owing to bringing advanced functionalities to the FSM solutions.
The on-premise segment held the majority of global field service management market share in 2018, and is projected to maintain its dominance during the forecast period. Although, cloud deployment of FSM solution is expected to witness highest growth rate of 18.7% during 2019-2016. This is attributed to key benefits offered by cloud-based software such as increasing demand for mobility in field service operations, lower cost, great availability and ease of implementation. Cloud deployment is also expected to gain traction in the coming years owing to the need for more agility, and scalability.
The transportation & logistics segment is expected to witness highest growth rate in global field service management market during the forecast period. Increase in vehicle fleet utilization, reduction in unloading time, improved ETA accuracy, less vehicle maintenance cost, rise in number of deliveries, greater delivery resource optimization, increased haul route visibility, and optimum route planning are the crucial factors that lead to the increase in demand for field service management software & services in transport & logistics sector.
Region wise, the global field service management market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. It is the home to majority of the key players in the field service management market, which makes it a lucrative hub for innovation in the market. Factors, such as, increase in awareness about advanced field management solution, cloud technology adoption, and significant adoption of mobility in the field service industry drive the growth of the FSM market in North America. Furthermore, market players are adopting various business strategies including partnership, merger & acquisition to increase their market share and improve the revenue, which is again expected to impact positively on the growth of field service management market in North America. For instance, in February 2019, ServiceMax announced the acquisition of Zinc. This acquisition will help ServiceMax to improvise its FSM products and enable real-time & contextual communication.
According to PramodBorasi and Vishwa Gaul, Research Analysts, ICT, “Field service management market is expected to grow in the Asia-Pacific region during the forecast period of 2019-2026 owing to proliferation of mobile devices, increase in penetration of internet services, and surge in advancements in telecom industry. Adoption of IoT technology, increasing development of construction & engineering industry in developing economies including India & China further boosts the demand of FSM solution in Asia-Pacific region”
KEY FINDINGS OF THE STUDY
- Depending on component, the solution segment led the field service management market size in terms of revenue in 2018.
- By deployment, the on-premise segment accounted for the highest market share in 2018.
- Based on organization size, large enterprises dominated the field service management market share in year 2018.
- Region wise, North America generated the highest revenue in 2018; however, Asia-Pacific is anticipated to exhibit substantial growth during the field service management market forecast period.
- Depending on industry vertical, the transportation & logistics sector is anticipated to exhibit highest growth during the forecast period.
The global field service management market analysis includes some of the key market players such as Oracle Corporation, Microsoft, IFS AB, Salesforce.com Inc., ServiceMax, OverIT, Comarch SA, Infor, Praxedo, and SAP SE
Note: Product cover images may vary from those shown
- Oracle Corporation
- Microsoft
- IFS AB
- Salesforce.com Inc.
- ServiceMax
- OverIT
- Comarch SA
- Infor
- Praxedo
- SAP SE.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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