Field Service Management Market (Component - Solution, and Service; Deployment - On Premise, and Cloud; Type - Inventory Management, Contract Management, Dispatch Management, Service Scheduling Management, Order Management, Route Management, and Others; End User - IT, Healthcare, Infrastructure, Transportation and Logistics, Retail, E-commerce, Government, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on field service management market provides in-depth analysis of segments and sub-segments in the global as well as regional field service management market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional field service management market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global field service management market. According to the report, the global field service management market is projected to reach USD 7.01 billion by 2027 from USD 2.92 billion in 2020, growing with a CAGR of 13.48% over the forecast period of 2021-2027.

Market Insight

Field service management includes dispatching workers/contractors to an onsite location for installing, maintaining, repairing equipment, assets, and systems.  This enables the organization in increasing uptime, Time saving in repairs and improved rates of first-time fixes. The field service technicians are empowered, field servicing costs and customer satisfaction is guaranteed inefficient field service management. Field service management is essential for industries such as manufacturing, transportation, energy and utilities, oil and gas, and others. The methods of businesses managing their field service operations are evolving as the complexity of assets is grows. Empowering the field service technician with new connected technologies is the way ahead for the market.

The strong demand for field services is majorly driving the market. There has been strong demand from consumers in the market for the products and equipment of end-user industries. Thus, their timely installation, maintenance, and repairing have become of paramount importance. This has led to growth in the demand for in-person field service. This strong growth has compelled end-user industries in the market to adopt new field service management technologies and solutions. Also, the growth in the number of field service technicians has made it crucial to effectively manage their rescheduling and dispatch. Other factors behind the adoption are invoice management, inventory management, contract management, and others. Connecting the on-field service technician and other on-field staff at a central point has become important. The only restraint the market faces is the complex nature of field service management technologies. As the scale of field service management operations grows, the management technologies and solutions also need to be scaled accordingly. Thus, the complexities of the management technologies make scaling difficult and costly. The integration of new technological advancements such as artificial intelligence, machine learning, and Big Data with field service management provides growth opportunities.

North America is expected to be the dominant region in the market. Asia-Pacific is expected to be the fastest-growing region in the market. The demand for onsite installation, maintenance, and repairing field services is high. The dispatching and rescheduling of the field service workforce need to be done accordingly. Additionally, the presence of multiple players such as Salesforce.com, Inc. IBM Corporation, Oracle Corporation, Microsoft Corporation, and others in the region have asserted the dominance of North America in the market.  Asia-Pacific has been experiencing rapid industrialization. A large number of small and medium enterprises have emerged in the region. Thus, the automation of service delivery, job scheduling, invoicing, and billing businesses processes has also increased. These enterprises are also actively adopting new field service management technologies.

Segment Covered

The report on global field service management market covers segments such as component, deployment, type, and end user. On the basis of component, the sub-markets include solution and service. On the basis of deployment, the sub-markets include on premise, and cloud. On the basis of type, the sub-markets include inventory management, contract management, dispatch management, service scheduling management, order management, route management, and others. On the basis of end user, the sub-markets include, healthcare, infrastructure, transportation and logistics, retail, e-commerce, government, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corporation,  Salesforce.com, inc., Oracle Corporation, Microsoft Corporation, Scandit AG, Wise Systems, Inc.,  Geo Limited , SAP SE, Comarch SA, and Accruent, LLC.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of field service management market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.