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Global Field Service Management Market is Expected to Grow at a CAGR of 16% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Field Service Management Market Report and Forecast 2021-2026’, the global field service management market size reached a value of around USD 3 billion in 2020. The market is likely to increase at a CAGR of 16% in the forecast period of 2021-2026.

The global field service management market is majorly being driven by the rising demand for mobility solutions to obtain real-time visibility into field operations. North America is the largest contributor to the market, accounting for the largest share, as it is a major centre for technological developments and early adoption of new technologies. Organisations in the region focus on providing consumers with the best in-class services, making sure that their field technicians receive the right information and the right assets in time to solve customer complaints. The increased internet penetration, communication devices, and mobile phones have significantly altered consumers’ purchasing habits. Organisations incorporate innovative technologies for field service management in order to meet consumer requirements. The participation of key players in the region also stimulates competition and understanding of the advantages of implementing field service management solutions.

In February 2021, Oracle Corporation (NYSE: ORCL), one of the key players, launched seven new services on the Oracle Cloud Data Science Platform that provide a robust end-to-end interface aimed at improving and growing data science results. This new platform would help the consumers to enhance the management services.

Market Analysis by Component, Organisation Size, Deployment Type, Industry Vertical, and Regions:

  • Based on component, the global field service management market can be divided into solutions and services. Solutions can be further divided into schedule, dispatch, and route optimisation, customer management, work order management, inventory management, service contract management, and reporting and analytics, among others. Services can be segmented into consulting, integration and implementation, and training and support.
  • The organisation size in the industry can range between large enterprises and small and medium-sized enterprises (SMEs).
  • On the basis of deployment type, the industry can be divided into on-premises and cloud.
  • Industry verticals of the market can be segmented into IT and telecom, healthcare and life sciences, manufacturing, transportation and logistics, construction and real estate, and energy and utilities, among others.
  • The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for prompt customer-service delivery is propelling the market growth.
  • The increased investments made by the key players in the form of spending is supporting the market growth.
  • The need to establish better relations between field representatives and customers is driving the market growth.
  • The rising adoption of cloud-based technology in various markets is providing an impetus to the industry growth.
  • The increased demand for convenient and efficient services is driving the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global field service management market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the component, organisation size, deployment type, industry vertical, and major regional markets of field service management.
  • It assesses the market based on the SWOT and Porter’s Five Forces models.

The major key players in the global field service management market include companies like Oracle Corporation, Microsoft Corporation, ClickSoftware Technologies, ServiceMax, Astea International Inc., and Comarch, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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