Global Field Service Management Market Size, Share, Analysis: By Component: Solutions, Services; By Organisation Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs); By Deployment Type: On-Premises, Cloud; By Industry Vertical: IT and Telecom, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Field Service Management Market Size

The global field service management market reached a value of around USD 4.68 billion in 2023. The market is further expected to grow at a CAGR of 16% during the forecast period of 2024-2032.

Field Service Management Market Outlook

• As per industry reports, 73% of field management firms have incorporated Internet of Things (IoT) into their operations.

• About 75% of field service businesses that utilise mobility tools have observed increased employee productivity, while the rest have seen customer satisfaction rates rise.

• Video support is already being deployed by over 50% of field service organisations to help technicians perform their jobs more effectively.

• The manufacturing vertical is likely to hold a major revenue share as rapid industrialisation encourages the adoption of technologies that automate field operations and processes.

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Field Service Management Market Growth

Field service management refers to a system for efficiently managing end-to-end activities in a field service organisation and delivering work performed on location, which includes activities like scheduling, dispatching, invoicing, billing, and so on.

It is anticipated that the growing demand for mobility-based alternatives to enhance real-time visibility in field service activities, along with the rising implementation of cloud-based field service management solutions, will fuel the field service management market expansion across different industry verticals in the forecast period.

Key Trends and Developments

Shift towards cloud-based deployments, adoption of artificial intelligence (AI) in FSM models, and rising focus on workforce empowerment are boosting the field service management market growth

May 2024

Oracle has been recognised as a leader in Utilities CIS and Billing by IDC MarketScape. The acknowledgment highlights Oracle's ability to support energy and utilities in managing complex billing and commercial and industrial customers.

April 2024

Cognizant and Microsoft have expanded their partnership to drive the adoption of generative AI in enterprises. The partnership aims to transform business operations, enhance employee experiences, and accelerate cross-industry innovation.

April 2024

Cloud Software Group and Microsoft have signed an eight-year strategic partnership to bring joint cloud solutions and generative AI to over 100 million people. The agreement will accelerate productivity as the former company will deploy GitHub Copilot to increase productivity of engineers by over 20%.

May 2023

ServiceMax, a PTC company, has been recognised by Frost & Sullivan for its field service management technology that optimises operations for energy companies.

Adoption of artificial intelligence (AI) and Internet of Things (IoT)

AI-powered FSM solutions enable predictive maintenance, optimise scheduling and routing, and provide intelligent recommendations to field technicians. IoT sensors collect real-time data from equipment, allowing for proactive issue detection and resolution. For example, IoT sensors installed in HVAC systems can detect and report malfunctions, triggering a service request.

Shift towards cloud-based deployments

The field service management market is witnessing a significant shift from on-premises to cloud-based FSM solutions. Cloud-based platforms offer scalability, flexibility, and reduced IT infrastructure costs. They enable remote access to data and tools, facilitating collaboration between field technicians and office staff.

Increasing adoption in small and medium-sized enterprises (SMEs)

While large enterprises have been early adopters of FSM solutions, SMEs are now rapidly embracing these technologies. SMEs in the HVAC and electrical services industries are integrating FSM solutions to improve customer service, schedule and dispatch technicians, track inventory, and generate invoices.

Rising focus on workforce empowerment

Organisations are recognising the value of empowering their field technicians by providing them with the necessary tools, training, and support. Such training programmes upskill their field technicians and equip them with the knowledge to handle complex tasks and provide excellent customer service.

Field Service Management Market Trends

The growing demand for prompt customer-service delivery, increased IT spending by key players to meet consumer demand, the need to establish better communication between field representatives and customers, and the need to enhance field technician’s efficiency are other factors influencing the field service management industry development.

Moreover, the market is increasingly emphasising the importance of mobile technologies as mobile apps enable field technicians to access customer information, work orders, and real-time data from their smartphones or tablets. This improves response times, reduces paperwork, and enhances overall productivity.

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Field Service Management Industry Segmentation

The EMR’s report titled “Field Service Management Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Solutions
  • Schedule, Dispatch, and Route Optimisation
  • Customer Management
  • Work Order Management
  • Inventory Management
  • Service Contract Management
  • Reporting and Analytics
  • Others
• Services
  • Consulting
  • Integration and Implementation
  • Training and Support

Market Breakup by Organisation Size

• Large Enterprises

• Small and Medium-Sized Enterprises (SMEs)

Market Breakup by Deployment Type

• On-Premises

• Cloud

Market Breakup by Industry Vertical

• IT and Telecom

• Healthcare and Life Sciences

• Manufacturing

• Transportation and Logistics

• Construction and Real Estate

• Energy and Utilities

• Others

Market Breakup by Region

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Field Service Management Market Share

Large enterprises benefit from advanced FSM technologies as it manages complex operations efficiently

Large enterprises have a significant share of the market due to their financial resources and infrastructure, enabling them to invest in comprehensive FSM solutions. These organisations benefit from increased efficiency, higher customer satisfaction, and substantial cost savings. The operational requirements and scale of large enterprises necessitate sophisticated FSM solutions to handle complex scheduling and logistics.

As per field service management market analysis, SMEs are also increasingly implementing FSM solutions and services to optimise their workflow, improve service delivery, and compete effectively with larger enterprises. These organisations use FSM software for tracking employee activities, scheduling work, assigning technicians, ensuring driver safety, and integrating inventory and other business systems.

IT, construction, and energy industries hold significant market shares due to rising adoption of FSM solutions in these industry verticals

The IT and telecom segment is expected to dominate the field service management market due to the increasing demand for 5G and other new technologies, the rising complexity of telecom networks, and the need to improve customer satisfaction. Cloud-based FSM solutions are becoming increasingly popular among telecom providers due to their flexibility and cost-effectiveness.

The transportation and logistics segment may grow at a higher CAGR during the forecast period. FSM solutions in this industry focus on improving fleet operations, route optimisation, vehicle maintenance, and driver scheduling to ensure efficient and timely delivery of goods. The construction and real estate industry is also expected to witness growth in the field service management market share due to the rapid industrialisation in developing countries. This industry deploys FSM solutions to track site construction activities, manage equipment maintenance, and ensure the timely completion of projects.

The energy and utilities sector also has a significant market share due to the need to automate business processes in power generation, transmission, and distribution. FSM solutions help energy and utility companies manage field operations, including asset maintenance, repair, and emergency response. As the demand for reliable and efficient energy services increases, the adoption of FSM solutions in the energy and utilities segment is expected to grow.

Leading Companies in the Field Service Management Market

Market players are focused on optimising field operations, enhancing customer satisfaction, and driving efficiency in the market industries

Oracle Corporation, founded in 1977 and headquartered in California, United States, offers database management systems, enterprise resource planning (ERP) software, customer relationship management (CRM) software, and supply chain management (SCM) software.

Microsoft Corporation was established in 1975 and is based in Washington, United States. Its portfolio includes MS office, the Office productivity suite, and the Azure cloud computing platform. It also offers Dynamics 365, a suite of business applications that includes field service management solutions.

ClickSoftware Technologies Ltd. (Acquired by Salesforce.com, Inc.) was founded in 1979 and is headquartered in Petach Tikva, Israel. Company’s offerings encompass scheduling, optimisation, and workforce management tools designed to improve the efficiency and productivity of field service operations.

ServiceMax, Inc. established in 2007 and based in California, United States, is a leading provider of cloud-based field service management software solutions. It focuses on service execution management, offering tools to improve the productivity of complex, technical field service operations.

Other key players in the global field service management market include Astea international Inc. (Acquired by IFS Aktiebolag), and Comarch S.A., among others.

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Field Service Management Market Analysis by Region

Asia Pacific and North American region shows an upward trend in FSM adoption among various industries for improved work efficiency and customer satisfaction

North America leads the market with a focus on cost-effective solutions and streamlined field service operations. The region, particularly the US, has been an early adopter of FSM technology. The region’s dominance is further sustained by a strong technological focus and key industry players.

Asia Pacific has the fastest-growing field service management market share, driven by industrialisation and a demand for optimised workflow. China and India are key contributors to Asia Pacific's market growth. The region benefits from the proliferation of mobile devices and cloud technology adoption. Asia Pacific's growth is also fueled by the need for automation and enhanced productivity.

Key Highlights of the Report

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Field Service Management Market Report Snapshots

Field Service Management Market Size

Field Service Management Market Growth

Field Service Management Market Trends

Field Service Management Market Share

Field Service Management Companies

Field Service Management Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.