Market Research Future published a research report on “Field Service Management Industry Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Field Service Management Industry - Overview
The global Field Service Management Industry is showing immense growth; mainly due to the emergence of cloud technologies and growing popularity of bring your own device (BYOD). Field service management refers to managing of company resources at the client end instead of managing it at the host end. Field services management Increasing need to maximize productivity of business processes and growing demand for an integrated, robust, and centralized system for field service management are major factors driving the growth of the market. According to a recent study report published by Market Research Future, The global Field Service Management Industry is booming and expected to gain prominence over the forecast period.
Cloud based deployment segment in field service management is expected to grow at the highest rate during the forecast period. This is owing to the increase in demand for cloud-based FSM solutions which offer flexibility, scalability, low cost, and real-time access to data, regardless of the location of the employees. Technological advancements and economic growth influence the industry dynamics. Also, increasing demand for field service management from medium and small enterprises is another major factor driving the market growth. The Field Service Management Market is highly competitive due to the increase in cloud based technologies and increasing demand for mobility solutions for real-time visibility. On the other hand, lack of awareness and slow growth in the developing and under developed countries are some of the factors hindering the growth of field service management market. Also, security concerns with respect to access to confidential data, may hamper the market growth.
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The global Field Service Management Industry is expected to reach approximately USD 5.59 billion by 2023 growing at a 16.6% CAGR over the forecast period 2018—2023.
Key Players:
Some of the key players of global Field Service Management Industry includes Capterra(US), Accurent(US), Acumatica Inc. (US), Astea International Inc. (US), Click Software(US), Comarch SA (Poland), Field Aware(US), IBM Corporation (US), IFS(Sweden), Infor(US), Microsoft Corporation (US), Oracle Corporation (US), Salesforce.com (US), SAP SE (Germany), OverIT (Italy), among others.
Field Service Management Global Market- Segmentation
The field service management market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Solution: Comprises of Schedule and Dispatch, Work Order Management, Mobile Field Execution, Reporting and Dashboards, Billing and Invoicing, Inventory Management and Tracking and Performance Management
- Segmentation by Service: Comprises of Implementation, Training and Support and Consulting
- Segmentation by Organization Size: Comprises of SMEs and Large Enterprises
- Segmentation by Deployment: Comprises of Cloud and On Premise
- Segmentation by Vertical: Comprises of BFSI, Healthcare, Manufacturing, Energy & Utilities, Transportation and Others
- Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Field Service Management Global Market- Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the field service management platform market in North America owing to the presence of a large number of established key players such as Oracle Corporation, IBM Corporation, Microsoft Corporation, ClickSoftware Technologies, ServiceMax Inc., Infor, and Astea International Inc. among others. The growing technological developments in the field of cloud, analytics, and the emergence of bring your own device (BYOD) have led to the high adoption of field service management applications in the region. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of cloud based applications in the region, the market is likely to show immense growth in the coming future. Field service management market in Asia Pacific is expected to grow at a substantial CAGR during 2018 to 2023 due to rise in IT technology and increasing adoption of field service management in the region. Whereas, the Europe market for field service management is expected to grow at a considerable CAGR (2018-2023).
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Global Field Service Management (FSM) Market
5 Industry Overview Of Global Field Service Management Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
Continued…
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