Field Service Management (FSM) Market to Reach USD 8.06 Billion during 2021-2028; ServiceMax, Inc.’s Acquisition of LiquidFrameworks is Set to Spur Growth: Fortune Business Insights™
Companies profiled in field service management market are ServiceMax, Inc., Oracle Corporation, IFS AB (Industrial and Financial Systems) (Linköping, Sweden), Salesforce.com, Inc (ClickSoftware), PRAXEDO, Infor, Inc., Comarch SA, OverIT S.p.A., FieldAware Group Ltd., GEOCONCEPT SAS, Mize, Inc, Zinier, Inc., Sig Sauer, Inc.
Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The global field service management market size was USD 2.87 billion in 2020. The market is projected to grow from USD 3.24 billion in 2021 to USD 8.06 billion in 2028 at a CAGR of 13.9% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Field Service Management (FSM) Market, 2021-2028.”
According to our analysts, the tenacious demand for customer-centric solutions among numerous businesses, which has further raised field service solution demand. The mobile-driven solution is also aiding businesses to fuel consumer-led experiences and elevate output.
Request a Sample Copy of Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/field-service-management-fsm-market-102215
List of Key Players in Field Service Management Market:
ServiceMax, Inc. (California, U.S.)
Oracle Corporation (California, U.S.)
IFS AB (Industrial and Financial Systems) (Linköping, Sweden)
Salesforce.com, Inc (ClickSoftware) (California, U.S.)
PRAXEDO (Paris, Ile de France)
Infor, Inc. (New York, U.S.)
Comarch SA (Kraków, Poland)
OverIT S.p.A. (Fiume Veneto, Italy)
FieldAware Group Ltd. (Texas, U.S.)
GEOCONCEPT SAS (Bagneux, France)
Mize, Inc (Telangana, India)
Zinier, Inc. (California, U.S.)
Sig Sauer, Inc. (Eckernförde, Germany)
Report Scope & Segmentation
Report Coverage | Details |
Forecast Period | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR | 13.9% |
2028 Value Projection | USD 8.06 Billion |
Base Year | 2020 |
Market Size in 2020 | USD 2.87 Billion |
Historical Data for | 2017 to 2019 |
No. of Pages | 160 |
Segments covered | Component, Application, Deployment, Enterprise Size, Vertical and Geography |
Growth Drivers | Progressive FSM Solutions to Endure Service Demand amid COVID-19 Pandemic |
Rising Demand for Real-time Visibility Services to Drive Market Growth | |
Rising Preference for Enterprise Mobility Solutions to Boost Growth in North America |
COVID-19 Impact
Progressive FSM Solutions to Endure Service Demand amid COVID-19 Pandemic
The exponential outbreak of the COVID-19 disaster has augmented various obstacles and jeopardies for the field service industry. The drastic infliction of lockdown has impacted brutally to the on-site business operations. Therefore, the global COVID-19 somewhat has braked down the field service management market growth during the year 2020.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/field-service-management-fsm-market-102215
Report Coverage
The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of software. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the human capital management market.
Segmentation
On the basis of components, the market for field service management is classified into solutions and services.
By application, the market is categorized into work order management, schedule, dispatch, route optimization, customer management, inventory management, service contract management, reporting and analytics, and others. Customer management to gain maximum market share owing to the growing focus on customer experience and retention.
In terms of deployment, the market is divided into on-premises and cloud.
Based on enterprise size, the market is branched into small and medium-sized enterprises (SMEs) and large enterprises.
On the basis of vertical, the market is segregated into BFSI, IT and telecommunication, manufacturing, construction and real estate, healthcare, and life sciences, transportation and logistics, energy and utilities, and others.
In terms of region, the market is bifurcated into five major regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Drivers and Restraints
Rising Demand for Real-time Visibility Services to Drive Market Growth
The real-time field service systems are observing increasing demand across industries to thrust customer gratification. The real-time monitoring and management of field technicians permit businesses to resolve customer enquiries in a fresh attempt by linking them with the closest service supplier. Therefore, these solutions are attaining traction across all businesses.
However, a lack of a skilled workforce may hinder the market growth.
Speak to Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/field-service-management-fsm-market-102215
Regional Insights
Rising Preference for Enterprise Mobility Solutions to Boost Growth in North America
North America held the maximum field service management market shares and is probable to lead the market owing to the rising inclination towards enterprise mobility solutions and constant emphasis to restructure field service teams and operations.
Europe is displaying drastic growth in the acceptance of FSM solutions owing to the embracement of automation in existing manual field service procedures. Numerous industries in European nations are keen on investing in novel technologies to sustain respective field forces.
Asia Pacific outperformed the market in terms of CAGR. The large scale industrialization across nations such as India, Japan, and China is an extremely demanding FSM solution for attaining enhanced workflow and improved productivity.
Competitive Landscape
Concentration on Business Extension to Fuel Several Novel Product Launch
Key players in the market for field service management are implementing numerous strategies to endure their market position and to upsurge their business value. Novel product launch or new feature updates into the prevailing product portfolio is assisting crucial players to strengthen their market position. Key players are also emphasizing procuring small companies as well as extending their product or business network to reinforce their competitiveness.
Industry Development
July 2021: ServiceMax, Inc. attained LiquidFrameworks, which is a mobile field operation management supplier, in order to inflate its FSM solution in energy sectors.
Quick Buy - Field Service Management Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102215
Major Table of Contents:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Field Service Management Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Overview
Key Management
Headquarters etc
Offerings/Business Segments
Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
Employee Size
Key Financials
Past and Current Revenue
Gross Margin
Geographical Share
Business Segment Share
Recent Developments
Annexure / Appendix
Global Field Service Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Component (Value)
Solution
Services
Managed
Professional
Integration and Implementation
Training and Education
Support and Maintenance
By Deployment (Value)
On-Premises
Cloud
By Enterprise Size (Value)
Large Enterprises
SMEs
By Application (Value)
Work Order Management
Schedule, Dispatch, And Route Optimization
Customer Management
Inventory Management
Service Contract Management
Reporting and Analytics
Others (Resource Management, Technician and vehicle Tracking, etc.)
By Vertical (Value)
Banking, Financial Services and Insurance (BFSI)
IT and Telecom
Healthcare and Life Sciences
Manufacturing
Transportation and Logistics
Construction and Heavy Equipment
Energy and Utilities
Others (Government, Media and Entertainment, Education, Etc.)
By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
North America Field Service Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Component (Value)
Solution
Services
Managed
Professional
Integration and Implementation
Training and Education
Support and Maintenance
Ask for Customization of this Report: https://www.fortunebusinessinsights.com/enquiry/customization/field-service-management-fsm-market-102215
Have a Look at Related Research Insights:
Artificial Intelligence Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others), and Regional Forecast, 2021-2028
Blockchain Market Size, Share & COVID-19 Impact Analysis, By Component (Platform/Solution and Blockchain as a service), By Type (Public blockchain, Private blockchain), By Applications (Digital Identity Payments, Smart Contracts), By Deployment (Proof of Concept, Pilot and Production), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing) and Regional Forecast, 2021-2028
Cryptocurrency Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, and Others), By End-Use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2021-2028
Beacon Market Size, Share & Industry Analysis, By Component (Hardware and Platform / Software Development Kit (SDK)), By Connectivity Type (Bluetooth Low Energy (BLE), Wi-Fi, Hybrid and Others), By Deployment (Indoor and Outdoor), By End-use (Residential and Commercial) and Regional Forecast, 2019-2026
Event Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By End-User (Government, Corporate, Event Planners, Education, and Others), and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Read Press Release: https://www.fortunebusinessinsights.com/press-release/field-service-management-fsm-market-9608