Field Service Management Industry Overview

 

The global field service management market size was valued at USD 4.43 billion in 2022 and is expected to grow significant growth with a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030 due to the growing number of field operations across different end-use industries such as telecom, oil & gas, construction, and energy & utilities. Furthermore, the rapid adoption of FSM solutions by different small & medium enterprises is also expected to drive market growth over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Field Service Management Market

 

Component Insights

The solution segment accounted for the largest revenue share of 81.3% in 2022. In an organization, enhanced productivity leads to an increase in profitability. With this software, there are better lines of communication between the front office, management, and technicians. Since technicians and field workers spend less time coordinating logistical tasks, they have more time for client work. The development of technologies, including cloud, big data, and advanced analytics, supports the integration of mobility and cloud with FSM software. Several cloud technology service providers offer an enhanced level of FSM solutions that cater to the needs of small, medium, and large enterprises and are expected to drive the field service management market growth in the coming years.

 

The FSM software provides various solutions for the execution of fieldwork. It also helps gain visibility into the individual performance of field workers and technicians. FSM solutions assist in the management and execution of service contracts made with customers, vendors, partners, and employees. The service contract management process broadly deals with travel, tooling, sub-contracting, document maintenance, help desk service, and contract renewals.

 

These solutions also aid in rapidly reducing warranty costs & reserves, increasing supplier recovery, forecasting accuracy, and better cash flow for maximum profitability. They also provide inventory management services and supervise non-capitalized assets and stock items. They provide companies with different practices, strategies, and technologies required to manage and analyze customer interactions and data throughout the customer lifecycle. This software helps lower the costs of these different field processes with better efficiency. Therefore, many enterprises would adopt the FSM software for better performance and increased organizational productivity.

 

Browse through Grand View Research's Communication Services Industry Research Reports.

 

Field Service Management Market Segmentation

Grand View Research has segmented the global field service management market based on component, deployment, enterprise, end-use and region:

 

Field Service Management Component Outlook (Revenue in USD Million, 2017 - 2030)

  • Solution
    • Mobile field execution
    • Service contract management
    • Warranty management
    • Workforce management
    • Customer management
    • Inventory management
    • Others
  • Services
    • Implementation
    • Training & support
    • Consulting & advisory

 

Field Service Management Deployment Outlook (Revenue in USD Million, 2017 - 2030)

  • On-Premise
  • Cloud

 

Field Service Management Enterprise Outlook (Revenue in USD Million, 2017 - 2030)

  • Large enterprises
  • SMEs

 

Field Service Management End-use Outlook (Revenue in USD Million, 2017 - 2030)

  • Energy & utilities
  • Telecom
  • Manufacturing
  • Healthcare
  • BFSI
  • Construction & real estate
  • Transportation & logistics
  • Retail & wholesale
  • Others

 

Field Service Management Regional Outlook (Revenue in USD Million, 2017 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE

 

Key Companies profiled:

  • IBM Corporation
  • Agile 3 Solutions LLC
  • Accenture
  • Comarch SA
  • Salesforce, Inc.
  • Infor
  • Klugo Group, SAP SE
  • Astea International, Inc.
  • Trimble Navigation Limited
  • Tech Mahindra Limited

 

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