Field Service Management (FSM) Market- Overview

The global Field Service Management (FSM) market is showing immense growth; mainly due to the emergence of cloud technologies and growing popularity of bring your own device (BYOD). Field Service Management refers to managing of company resources at the client end instead of managing it at the host end. Field services management Increasing need to maximize productivity of business processes and growing demand for an integrated, robust, and centralized system for field service management are major factors driving the growth of the market. According to a recent study report published by Market Research Future, The global market of Field Service Management is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2018 – 2022).

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Cloud based deployment segment in Field Service Management is expected to grow at the highest rate during the forecast period. This is owing to the increase in demand for cloud-based FSM solutions which offer flexibility, scalability, low cost, and real-time access to data, regardless of the location of the employees. Technological advancements and economic growth influence the industry dynamics. Also, increasing demand for Field Service Management from medium and small enterprises is another major factor driving the market growth. The Field Service Management Market is highly competitive due to the increase in cloud based technologies and increasing demand for mobility solutions for real-time visibility. On the other hand, lack of awareness and slow growth in the developing and under developed countries are some of the factors hindering the growth of Field Service Management market. Also, security concerns with respect to access to confidential data, may hamper the market growth.

Market Segmentation

The Field Service Management (FSM) Market can be classified into 4 key segments for the convenience of the report and enhanced understanding;

• Segmentation by Solution: Comprises of Schedule and Dispatch, Work Order Management, Mobile Field Execution, Reporting and Dashboards, Billing and Invoicing, Inventory Management and Tracking and Performance Management
• Segmentation by Service: Comprises of Implementation, Training and Support and Consulting
• Segmentation by Organization Size: Comprises of SMEs and Large Enterprises
• Segmentation by Deployment: Comprises of Cloud and On Premise
• Segmentation by Vertical: Comprises of BFSI, Healthcare, Manufacturing, Energy & Utilities, Transportation and Others
• Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Key Players:

The key players in the market of Field Service Management Aare- ServicePower (UK), ClickSoftware Technologies (U.S.), Astea International (U.S.), Infor (U.S.), GenieBelt (Denmark), Intacct (U.S.), Sage Software (UK), Epicor (U.S.), ServiceNow (U.S.), Coresystems AG among others.

Field Service Management Global Market- Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the Field Service Management market in North America owing to the presence of a large number of established key players such as Oracle Corporation, IBM Corporation, Microsoft Corporation, ClickSoftware Technologies, ServiceMax Inc., Infor, and Astea International Inc. among others. The growing technological developments in the field of cloud, analytics, and the emergence of bring your own device (BYOD) have led to the high adoption of field service management applications in the region. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of cloud bas               ed applications in the region, the market is likely to show immense growth in the coming future. Field Service Management market in Asia Pacific is expected to grow at a substantial CAGR during 2018 to 2023 due to rise in IT technology and increasing adoption of Field Service Managements in the region. Whereas, the Europe market for Field Service Management is expected to grow at a considerable CAGR (2018-2023).

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Target Audience

• FSM Platform providers
• Cloud Service Providers
• Software Developers
• System Integrators
• Manufacturing Industry
• Government organizations

The report for Global Field Service Management Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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