The
global field service management (FSM) market is expected
to reach USD 4.16 billion by 2025, according to a new report conducted by Grand
View Research, Inc. Various other factors such as improper management of
inventory, increased inventory cycle time, increased holding cost, increased
ordering cost and incorrect information about the stock further increase the
cost of business operations. FSM software helps to fortify the functionality of
the service industry while improving overall profitability.
The main
forces which are driving the market include the increase in number of field
operations across manufacturing, oil & gas and construction sector.,
increase in the use of smartphone devices, and rising demand for better
organizational efficiency and reduced cost of operations. The advancement of
cloud services, supports the integration of cloud to the FSM software. This is
expected to surge the FSM market growth over the next nine years. Over the
forecast period, most of the end use industries are expected to deploy the FSM
software on the cloud rather than on the premise.
The global
field service management market is anticipated to witness a high growth over
the forecast period. The high presence of smartphones and tablets are playing
an important role in the overall growth of the FSM industry globally. FSM
solutions are also compatible with next generation smartphone operating
systems, further boosting their importance across the competitive landscape.
Full
Research Report On Global Field Service Management Market Analysis:
www.grandviewresearch.com/industry-analysis/field-service-management-market
www.grandviewresearch.com/industry-analysis/field-service-management-market
Further
key findings from the report suggest:
- The mobile field execution
solution provided by the FSM software is the most preferred solution by
the end use industries which helps in execution and maintenance of field
work by technicians, reporting status, receiving alerts, gain visibility
to individual performance.
- Most of the end use
industries such as utilities, healthcare, IT among others are moving from
on-premise deployment to cloud deployment of the FSM software as it
enables faster deployment speeds and reduces upfront costs.
- As compared to the small
and medium enterprises, the large enterprises are increasingly adopting
the FSM software for the management of large on field technicians and
employees who work on field.
- The FSM software is being
increasingly adopted across the construction industry due to the rapid
industrialization and increasing population particularly in developing
countries such as China and India.
- The FSM market is in the
developing stage in the regions of Asia-Pacific, Middle East & Africa,
and Latin America due to their increase in investment in IT sector and
increased focus on digital workplace transformation initiatives.
- The key purveyors in this
industry comprise Accenture, Cisco Systems, Astea International, Inc.,
Comarch, ClickSoftware Technologies, Klugo, Infor, SAP, ServiceMax,
Trimble Navigation Limited, among others.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/communication-services
www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the global field service management
market on the basis of solution, deployment, service, enterprise, application
and region:
Field
Service Management Solution Outlook (Revenue, USD Million; 2014 - 2025)
- Mobile
Field Execution
- Service
Contract Management
- Warranty
Management
- Workforce
Management
- Customer
Management
- Inventory
Management
- Others
Field
Service Management Deployment Outlook (Revenue, USD Million; 2014 - 2025)
- On-premise
- Cloud
Field
Service Management Service Outlook (Revenue, USD Million; 2014 - 2025)
- Implementation
- Training
& support
- Consulting
& advisory
Field
Service Management Enterprise Outlook (Revenue, USD Million; 2014 - 2025)
- Small
& medium enterprises
- Large
enterprises
Field
Service Management Application Outlook (Revenue, USD Million; 2014 - 2025)
- Energy
& Utilities
- Telecom
- Manufacturing
- Healthcare
- BFSI
- Construction
& Real Estate
- Transportation
& Logistics
- Others
Material
Handling Equipment Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Middle
East & Africa
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-field-service-management-fsm-market
www.grandviewresearch.com/press-release/global-field-service-management-fsm-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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