Field Service Management Market Set to Surpass USD 13.78 Bn by 2030, Increase in Adoption of Automation & Digitalization

Field Service Management Market size was valued at USD 3.72 billion in 2022 and is expected to grow to USD 10.44 billion by 2030 and grow at a CAGR of 13.78 %

AUSTIN, TEXAS, UNITED STATES, January 18, 2024 /EINPresswire.com/ -- Transforming Field Operations with Advanced Solutions for Unprecedented Efficiency
The SNS Insider report reveals that the Field Service Management (FSM) Market, valued at USD 3.72 billion in 2022, is poised to reach USD 10.44 billion by 2030, experiencing a robust CAGR of 13.78% during the forecast period of 2023-2030.

Field service management involves coordinating various operational aspects, including inventory management, scheduling, vehicle tracking, dispatching, and customer portals. The industry aims to enhance field service teams' deliverability and productivity, offering advantages such as accessibility to customer information, reduced operational overheads, improved workforce management, and heightened customer satisfaction. The persistent demand for customer-centric solutions across diverse businesses has driven the increasing adoption of FSM, further catalyzed by the mobile-driven solutions that empower businesses to maximize productivity and deliver consumer-led experiences. As businesses increasingly focus on efficiency and customer satisfaction, the FSM market is positioned for significant expansion in the coming years.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐈𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐓𝐎𝐂, 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐓𝐚𝐛𝐥𝐞𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭): @ https://www.snsinsider.com/sample-request/2888

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

• GEOCONCEPT SAS
• Salesforce
• Oracle
• Infor
• ServiceMax Inc.
• OverIT
• Microsoft
• IFS
• SAP
• Trimble
• FieldAware
• Comarch
• ServicePower
• Accruent
• Geoconcept
• Zinier
• PRAXEDO
• Acumatica Inc

𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Field Service Management (FSM) industry experiences robust growth driven by the imperative need for real-time field activity monitoring, rising demand for mobility solutions, and the integration of automation, IoT, AI, AR, and VR. Despite challenges like a shortage of skilled workforce and data security concerns, FSM solutions are gaining traction, especially in automating field operations and enhancing customer-centric experiences. The adoption of cloud-based FSM solutions, coupled with automation and digitalization trends, empowers service organizations to optimize field operations, make informed decisions, and ensure prompt service delivery. These factors contribute to the industry's projected growth, fostering efficiency across diverse sectors.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝐓𝐡𝐞 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐢𝐧𝐭𝐨 𝐟𝐢𝐯𝐞 𝐭𝐲𝐩𝐞𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭, 𝐁𝐲 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭, 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐬𝐢𝐳𝐞, 𝐚𝐧𝐝 𝐁𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥.

𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

• Software
• Services

𝐁𝐲 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭

• On-Premise
• Cloud

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Work Order Management
• Schedule, Dispatch, and Route Optimization
• Customer Management
• Inventory Management
• Service Contract Management
• Reporting & Analytics
• Others

𝐁𝐲 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐒𝐢𝐳𝐞

• Large Enterprises
• Small & Medium Enterprises (SMEs)

𝐁𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥

• Banking, Financial Services and Insurance (BFSI)
• IT & Telecom
• Healthcare & Life Sciences
• Manufacturing
• Transportation & Logistics
• Construction & Heavy Equipment
• Energy & Utilities
• Others

𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭:
Software dominates with solutions like Salesforce Field Service and CoConstruct, driven by increasing automation and digitalization.

𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬:
Professional services, including integration, implementation, training, and support, dominate the market due to their management and solution functionalities.

𝐁𝐲 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭:
On-premise deployment holds the major share, favored for high security and data retrieval flexibility. Cloud deployment is growing, offering secure, cost-effective, and accessible solutions.

𝐁𝐲 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐒𝐢𝐳𝐞:
SMEs experience significant growth, driven by increased competition, while large enterprises dominate with extensive workforces.

𝐁𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥:
The manufacturing sector leads, embracing automation, followed by energy and utilities and healthcare due to mobile-driven solutions.

𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 (𝐅𝐒𝐌) 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

• Workforce Scheduling Complexity: Efficiently scheduling field service operations, considering factors like technician skills, travel times, and customer preferences, can be a challenging task.
• Integration with Existing Systems: Seamless integration with existing enterprise systems, such as CRM and ERP, can be complex, leading to data silos and inefficiencies if not properly addressed.
• Mobile Connectivity Issues: Field service operations heavily rely on mobile devices, and connectivity issues in remote areas can hinder real-time communication and data access.
• Technician Skill Gaps: The shortage of skilled technicians and the need for ongoing training pose challenges in maintaining a workforce capable of handling diverse and complex service tasks.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

• IoT and Predictive Maintenance: Integrating IoT sensors for equipment monitoring allows for predictive maintenance, reducing downtime and improving overall efficiency.
• AI for Workforce Optimization: Utilizing artificial intelligence algorithms for workforce optimization helps in smarter scheduling, route planning, and resource allocation.
• Cloud-Based FSM Solutions: Adoption of cloud-based FSM solutions provides opportunities for increased scalability, accessibility, and collaboration among field service teams.
• Customer Experience Enhancement: Leveraging FSM technologies to improve communication, provide real-time updates to customers, and offer self-service options enhances overall customer satisfaction.
Successfully navigating these challenges and capitalizing on opportunities in the Field Service Management market requires a strategic approach, technological innovation, and a focus on improving the efficiency and effectiveness of field service operations.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: @ https://www.snsinsider.com/checkout/2888

𝐊𝐞𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

• North America: The region dominates due to a preference for enterprise mobility, technological advancements, and significant investments in research and development by key players.
• Asia Pacific: Outpacing in terms of CAGR, driven by industrialization, organizations seeking innovative solutions, and a growing demand for FSM in countries like India, Japan, and China.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬:

• Increasing adoption of automation and digitalization fuels FSM growth.
• North America leads in technological advancements and R&D investments.
• Asia Pacific witnesses rapid FSM market expansion due to industrialization and innovation.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

• In September 2022, Tech Mahindra launched YANTR.AI, a cognitive AI solution for enhanced field services, strengthening its BPaaS portfolio.
• In July 2022, Accenture collaborated with Hero MotoCorp Ltd. for supply chain strategy and logistics enhancement, optimizing the digital supply chain suite.
• In October 2021, Opsivity launched its SaaS solution in the U.S., utilizing AI and AR for faster issue resolution and increased productivity in remote field operations.

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬 :

1. 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐌𝐞𝐭𝐡𝐨𝐝𝐨𝐥𝐨𝐠𝐲
3. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. 𝐕𝐚𝐥𝐮𝐞 𝐂𝐡𝐚𝐢𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
6. 𝐏𝐨𝐫𝐭𝐞𝐫’𝐬 𝐟𝐨𝐫𝐜𝐞𝐬 𝐦𝐨𝐝𝐞𝐥
7. 𝐏𝐄𝐒𝐓 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
8. 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭
8.1 software
8.2 Services
9. 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭
9.1 Cloud
9.2 On-Premises
10. 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
10.1 Work Order Management
10.2 Schedule, Dispatch, and Route Optimization
10.3 Customer Management
10.4 Inventory Management
10.5 Service Contract Management
10.6 Reporting & Analytics
10.7 Others
11. 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐒𝐢𝐳𝐞
11.1 Large Enterprises
11.2 Small & Medium Enterprises (SMEs)
12. 𝐅𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧, 𝐁𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥
12.1 Banking, Financial Services and Insurance (BFSI)
12.2 IT & Telecom
12.3 Healthcare & Life Sciences
12.4 Manufacturing
12.5 Transportation & Logistics
12.6 Construction & Heavy Equipment
12.7 Energy & Utilities
12.8 Others
𝟏𝟑.𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
…...
𝟏𝟓. 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
𝟏𝟔. 𝐔𝐒𝐄 𝐂𝐚𝐬𝐞𝐬 𝐚𝐧𝐝 𝐁𝐞𝐬𝐭 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬
𝟏𝟕. 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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SNS Insider | Strategy and Stats
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