Field services typically comprise payment collection, process job orders, scheduling, vehicle tracking, customer portals, inventory management, and other services that occur in places other companies own premises or property. Keeping track of these services is a tedious and complex task for every company as maintaining an efficient flow of communication between resources and company, monitoring resources and their work quality requires energy as well as time. Therefore, companies are demanding solutions that can help them in automating their field operations and bring efficiency in their field services.
The global field service management market revenue is projected to reach close to USD 10 Million by 2028. This can be attributed to the increasing need to keep track of field activities. In addition, the increase in the adoption of mobility solutions is also boosting global field service management market growth.
However, the growing security concerns about data confidentiality is likely to hamper the market growth. Furthermore, the emergence of advanced and connected systems is anticipated to be an opportunity for the field service management market.
Key Segments of the Global Field Service Management Market
Component Overview, 2018-2028 (USD Million)
- Inventory Management
- Customer Management
- Service Contract Management
- Work Order Management
- Reporting and Analytics
- Integration and Implementation
- Training and Support
- Consulting Services
- Managed Services
Enterprise Size Overview, 2018-2028 (USD Million)
- Large Enterprises
- Small & Medium Enterprises
Industry Vertical Overview, 2018-2028 (USD Million)
- Transportation and Logistics
- Energy and Utilities
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global field service management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global field service management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global field service management market. The report will benefit: Every stakeholder involved in the field service management market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about the global field service management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global field service management market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The growing complexity across the logistics industry and rising demand from customers for uninterrupted and efficient services are the key reasons driving the demand for field service management solutions. Moreover, in recent years the logistics sector has been experiencing enormous growth as e-commerce and transportation industries are gaining more traction. However, these industries cannot afford under-skilled technicians, disorganized communications, and over-scheduled resources. Hence, industries are deploying field service management solutions to deal with such issues. For example, transportation and e-commerce industries are deploying field service management software solutions to track their packages, increase drivers’ productivity, and reduce costs spent on fuel. In addition, the manufacturing and construction industry is deploying these solutions to monitor and track their machinery maintenance needs.
In terms of components, the market is bifurcated into solutions and services. The solutions are further divided into work order management, customer management, reporting and analytics, service contract management, inventory management, and others. In addition, services are also categorized into training and support, consulting services, integration and implementation, and managed services. The services segment is estimated to accrue significant market growth over the forecast period. However, in the year 2019, the solutions segment gathered the major growth and it is likely to keep its position throughout the forecast years. The market growth of this segment is primarily ascribed to the increasing demand from numerous organizations to automate their business operations is driving the adoption of field services management solutions.
Enterprise Size Segment
Based on the enterprise size, the market is segmented into small & medium and large enterprises. The large enterprise segment leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. The market growth of this segment is mainly attributed to the growing adoption of automated solutions in large enterprises due to their complex and a large number of field service operations. On the contrary, small & medium enterprise segment is projected to accumulate major growth in forthcoming years.
Industry Vertical Segment
In terms of the industry vertical segment, the market is segmented into manufacturing, transportation and logistics, energy and utilities, healthcare, construction, and others. In 2019 the energy and utility segment accumulated the major market share and it is expected to do so over the forecast years. On the contrary, the healthcare segment accumulated the major growth and it is estimated to hold its place over the forecast years. The market growth of the healthcare segment is mainly ascribed to the increasing need to automate the power plant’s business processes to enhance productivity.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. However, the Asia-Pacific region is anticipated to gather the highest growth over the forecast years. The market growth in this region is mostly ascribed to the growing need for improved productivity and increased demand in this region. Besides, the growing adoption of smartphones and internet penetration is also boosting the market growth in this region.
The major players of the global field service management market are ClickSoftware, Oracle, Astea, Infor, Microsoft, Trimble, Salesforce, FieldAware, SAP, and ServiceMax. Moreover, the market comprises several other prominent players in the field service management market that are IFS, FieldEZ, OverIT, Comarch, and Zinier. The field service management market consists of well established global as well as local players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.