LONDON, UK, April 25, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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 Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Field Service Management Market size & share 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 2022 to 2028.”
What is Field Service Management? How big is the Field Service Management Market?
Market Overview:
Field service management helps firms keep a watch of their assets and manage maintenance and operations in an optimal manner to maintain proper functionality of all systems installed in the organization.
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.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- About 204+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
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- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
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 |
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Global Field Service Management Market: Dynamics
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.
Browse the full “Field Service Management Market – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” Report at https://www.fnfresearch.com/field-service-management-market
Field Service Management Market: Segmentation Analysis
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.
Field Service Management Market: COVID-19 Impact Analysis
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.
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Competitive Landscape
Some of the main competitors dominating 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)
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Field Service Management market is estimated to grow annually at a CAGR of around 11.7%.
- The Field Service Management market was valued at around USD 3,172.5 million in 2021 and is projected to reach USD 6,161.9 million, by 2028.
- Due to a growing focus on optimizing field service management services and solutions to ensure optimal productivity, the Schedule, Dispatch, and Route Optimization segment is expected to have a bright outlook over the projection period on the basis of Solution segment.
- By Services, as demand for field service management grows, the integration and implementation segment is expected to lead over the forecast period.
- By revenue and volume share, Asia Pacific leads the global field service management industry, driven by urbanisation and industrialization in numerous economies on the basis of region.
Key questions answered in this report:
- What is the market size and growth rate forecast for Field Service Management industry?
- What are the main driving factors propelling the Field Service Management Market forward?
- What are the leading companies in the Field Service Management Industry?
- What segments does the Field Service Management Market cover?
- How can I receive a free copy of the Field Service Management Market sample report and company profiles?
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Regional Dominance:
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.
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.
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The global field service management market is segmented as follows:
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
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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