18-Apr-2022 | Facts and Factors
According to Facts & Factors, The global field service management market was worth around USD 3,172.5 million in 2021 and is estimated to grow to about USD 6,161.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 11.7% over the forecast period. The report analyzes the field service management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the field service management market.
The field service management market is expected to see high demand as the deployment of technological solutions and digitization paces up across the world and boosts demand for technology services. Increasing demand for faster services is also expected to boost the field service management market potential over the forecast period through 2028.
Browse the full “Field service management Market By Components (Solution, Services), By Solution (Schedule, Dispatch, and Route Optimization, Customer Management, Work Order Management, Inventory Management, Service Contract Management, Reporting and Analytics, Other Solutions (Billing, Invoicing, Tracking and Performance Management)), By Services (Integration and Implementation, Training and Support, Consulting), By Deployment Type (On-Premise, Cloud), By Organization Size (Large Enterprises, SMEs) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” report at https://www.fnfresearch.com/field-service-management-market
Rapid urbanization has led to further digitization and increasing investments in technology are expected to be prominent trends driving the field service management market growth over the forecast period. Increasing adoption of automation technology and rising demand for integration of technologies like AI, machine learning, big data, and IoT are also expected to positively impact the field service management market growth through 2028.
Increasing instances of cyber-attacks have led to rising concerns for data security and privacy which is expected to hamper the field service management market growth over the forecast period. The field service management companies are focusing on bolstering the security of these field service management services and solutions to ensure customer and organization data safety which is of paramount importance in this digital age.
The pandemic of 2020 propelled the demand for digital solutions and this trend further bolstered the field service management market potential while all the other markets crumbled in the unprecedented coronavirus outbreak that brought the world to a near halt with lockdowns in multiple nations. Adoption of cloud technology from multiple organizations is expected to boost field service management market growth in the post-pandemic era.
The field service management market will experience further growth in the post-pandemic era as digitization in multiple organizations becomes a common trend across the world. The increasing demand for remote management solutions and faster service times is also expected to boost field service management market growth through 2028.
The global field service management market is segregated based on components, solution, services, deployment type, organization size, and region. Based on solution, the global market is distinguished into Schedule, Dispatch, and Route Optimization, Customer Management, Work Order Management, Inventory Management, Service Contract Management, Reporting and Analytics, and Other Solutions (Billing, Invoicing, Tracking and Performance Management). The field service management market will be led by the Schedule, Dispatch, and Route Optimization segment owing to the rising focus on optimizing operations by allocating specific jobs and tasks to field representatives working in the field service management industry landscape. Increasing demand for faster services is also expected to boost the field service management segment.
Asia Pacific region is projected to be the most lucrative market for field service management and this trend is expected to be prominent over the forecast period. Increasing technological proliferation, rising digitization, and increasing automation are expected to be prominent trends driving the field service management market potential in this region over the forecast period. India, Japan, and China are the most significant economies in this region that will be driving the field service management market growth through 2028. Increasing urbanization will also be driving the field service management market potential in this region over the forecast period. Increasing investments in digitization and automation are also predicted to favor field service management market growth in this region through 2028.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 3,172.5 Million |
Projected Market Size in 2028 |
USD 6,161.9 Million |
CAGR Growth Rate |
11.7% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Oracle(US), Microsoft(US), Salesforce(US), IFS(Sweden), ServiceMax(US), SAP (Germany), Infor(US), Trimble(US), Comarch(Poland), ServicePower(US), OverIT(Italy), FieldAware(US), Geoconcept(France), Zinier(US), Accruent(US), and Others |
Key Segment |
By Components, Solution, Services, Deployment Type, Organization Size, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Key players functioning in the global field service management market include Oracle (US), Microsoft (US), Salesforce (US), IFS (Sweden), ServiceMax (US), SAP (Germany), Infor (US), Trimble (US), Comarch (Poland), ServicePower (US), OverIT (Italy), FieldAware (US), Geoconcept (France), Zinier (US), Accruent (US)
Recent Developments:
- In July 2021, ServiceMax a leading name in service management announced the signing of an agreement to acquire LiquidFrameworks which is a leading name in the mobile field operations management industry.
The global field service management market is segmented as follows:
By Components
By Solution
- Schedule, Dispatch, and Route Optimization
- Customer Management
- Work Order Management
- Inventory Management
- Service Contract Management
- Reporting and Analytics
- Other Solutions (Billing, Invoicing, Tracking and Performance Management)
By Services
- Integration and Implementation
- Training and Support
- Consulting
By Deployment Type
By Organization Size
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A - 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com
