Field Service Management Market: – In recent past years, the significant utilization of smartphones with smart applications has improved the capabilities of the software to track field professionals in the service associations. The significant implementation of wearable and IoT has enriched the potential of FSM solutions in tracking the stock and equipment in the sector. In addition, the automation of field service procedures with available systems such as ERP, CRM, and several others have developed the overall business of an organization. Furthermore, the key players of this market are dominating the handsome amount of share with the significant developments in the technology and adopting the profitable strategies and policies which further enhance the working techniques. Nevertheless, this will also result in leading the fastest market growth in the short span of time.
According to the report analysis, ‘Global Field Service Management Market Research Report’ states that there are several key players which are recently functioning in this market more significantly for acquiring the highest market share while working by folding up their sleeves and with the advanced technological developments includes Microsoft, Salesforce, IBM, SAP, Oracle, IFS, ClickSoftware, ServiceMax, ServicePower, and Jobber. Moreover, with the significant working of the key players the market’s nature will expand more and become competitive which influenced the investors and key players making a huge amount of investment.
Although, the field service management market revenue is predicted to reach USD 3.18 billion in 2018 and is anticipated to reach USD 6.98 billion by 2023, increasing at a significant CAGR of 17.06% during the forecast period of 2018-2023. Moreover, on the basis of type, the market of field service management is segmented into employment & integration, support, and maintenance, and consulting. Whereas, the deployment & integration controls the prevalent market size in services. The implementation of FSM solution is the uppermost in North America due to an early assumption of technology and optimization of service processes. Nevertheless, The Asia Pacific region dominates a vast potential for the FSM vendors and is anticipated to rise at the highest CAGR during the forecast period of 2018-2023.
Additionally, on the basis of geography, the market is explored across the globe which majorly includes North America, Europe, Asia Pacific, Middle East Africa, and Latin America. While, the incorporation of technologies such as mobility, IoT, AI, and automation is anticipated to impact the FSM offerings in the market. The billing and invoicing solution sector is anticipated to increase at the highest CAGR during the forecast period. The Asia Pacific region is predictable to realize the potential of employing FSM solutions and maximize the productivity of the field workers. Furthermore, it is expected that the market of field service management will increase across the globe more efficiently over the recent few years.
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Ankur Gupta, Head Marketing & Communications