FSM Industry Development Strategy, Emerging Technologies, Trends and Forecast by 2027 | COVID-19 Effects
In its research report, Market Research Future (MRFR), underscores that the global field service management market 2020 is relied upon to become dramatically over the audit time frame, getting a significant market valuation of around USD 5.59 billion by 2023, and a solid 16.6% CAGR over the survey time frame.
Drivers and Restraints
The global FSM Industry is seeing huge development, principally because of the approach of cloud advances and rising prevalence of bring your own device (BYOD). What's more, a few different elements that are liable for the development of the FSM market incorporate the developing need of consumer loyalty and expanding reception of cell phones and wearable devices by field service faculty. The field service management program likewise assists with settling the issues all the more adequately by remotely following the offices and naturally characterizing and allotting assets during crisis. These elements of field management programming permit organizations to convey faster service reaction and diminished downtime that at last further develop consumer loyalty. Expanding need to improve business process proficiency and expanding interest for an incorporated, solid, and normalized field service management framework are central point driving market development. What's more, field service management programming is handily coordinated with cell phones which smooth out data stream between focal specialists and field laborers. Regardless, absence of abilities mastery connected with field service management programming is one of the variables confining FSM market development during the evaluation time frame. Then again, in creating and immature nations, absence of information and slow development are a portion of the variables that block the development of the market for field service management. Security issues about admittance to delicate information may likewise hamper development in the market.
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The global field service management market is segmented into organization size, component, deployment, and vertical.
Based on the component, the market is divided into solution and service.
By solution, the market is segmented into route planning, scheduling & dispatching, inventory management, mobile field service management, equipment management, service contract management, warranty management, pre-voicing, work order management, billing & invoice, service history tracking, and others.
By service, the market is segmented into support & training, implementation, and consulting.
By deployment, the market is bifurcated into cloud, and on- premise.
By organization size, the market is segmented into SMEs and Large enterprise.
By vertical, the market is segmented into education, healthcare, manufacturing, retail, construction, IT& telecom, and others.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
North-America is leading the global FSM Industry during the review period. The market growth is owing to the presence of IT giants that include Microsoft Corporation, Oracle Corporation, Salesforce.com, IBM Corporation, and other leading companies in the FSM market. Some propelling factors for market growth are the early adoption of technology and high investment in research and development as part of the growth strategy of the leading and IT giants. In addition, Asia-Pacific expects to hit the highest CAGR during the forecast period due to the growing number of highly field service workers in the IT & Telecom sector and rising smartphone adoption in the region.
The major market players operating in the global market as identified by MRFR are Acumatica Inc. (US), Capterra(US), Accurent(US), Astea International Inc. (US), Click Software(US), IBM Corporation (US), Comarch SA (Poland), Field Aware(US), IFS(Sweden), Infor(US), Microsoft Corporation (US), Salesforce.com (US), Oracle Corporation (US), SAP SE (Germany), OverIT (Italy), among others.
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Global FSM Industry Research Report Information By Component (Solutions, Services), Deployment (Cloud, On-Premise), Organization Size (Small & Medium enterprise, Large enterprise), and By Vertical (Manufacturing) - Forecast till 2027
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