Field Service Management Market is Projected to Reach US$ 7.3 Billion in 2028

Stratview Research
Stratview Research

Field Service Management Market is expected to reach US$ 7.3 Billion in 2028, growing at a CAGR of 12% during 2022-2028, reports Stratview Research.

Raipur, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Field Service Management Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Field Service Management Market is driven by a host of factors, some of which are noted below:

  • The increased need to track activities in the field,

  • Rising demand for mobility for real-time visibility,

  • Growth in adoption of automation and digitalization in the field services industry,

  • Increased adoption of cloud-based FSM solutions, and

  • The integration of AI, AR, and VR in the FSM sector.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Field Service Management Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Component (Solution, Services),

  • By Deployment Type (On-Premise, Cloud),

  • By End-Use (Telecom, IT and IteS, Healthcare and Life Sciences, Manufacturing, Construction and Real Estate, Transportation and Logistics, Energy and Utilities, Oil and Gas, Others),

  • By Region (North America, Europe, Asia-Pacific, and Rest of the World)

Field Service Management Market Insights

Market Trends by Component Type

The market has been classified into Solution & Services. Under these, the Solution segment dominated the overall market & held a significant share in 2021, which bolsters the growth during the Forecast period.

Market Trends by Deployment Type

The market has been classified into on-premise and cloud. Under these, the on-premise segment held a significant market share in 2021 mainly due to the flexibility & security offered by them while retrieving data, as field service enterprises deal with confidential & sensitive information regarding its customers and companies, thus augments the segment growth.

Market Trends by End-Use Type

The market has been classified into Telecom, IT and IteS, Healthcare and Life Sciences, Manufacturing, Construction and Real Estate, Transportation and Logistics, Energy and Utilities, Oil and Gas, Others. Under these, the Manufacturing segment held a significant market share in 2021.

Which region offers the best opportunity and growth?

The Asia Pacific market held the highest market share in 2021 and is projected to grow at a healthy CAGR in the coming years. This is mainly ascribed to growing number of business processes, increasing consumer expenditure, high internet penetration, emerging startups having limited IT budgets, and surging adoption of cloud technologies, which bolsters the regional market growth during the review period.

COVID-19 Impact on the Field Service Management Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

  • Oracle(US),

  • Salesforce(US),

  • Microsoft(US),

  • ServiceMax(US),

  • IFS(Sweden),

  • Infor(US),

  • SAP (Germany),

  • Comarch(Poland),

  • Trimble(US),

  • ServicePower(US)

  • Polaris Alpha

What deliverables will you get in this report?

  • In-depth analysis of the Field Service Management Market

  • Detailed market segmentation.

  • Competitive-landscape analysis.

  • Historical, present, and future market size analysis.

  • Industry trends, technologies, and advancements.

  • Growth and operation strategies adopted by key players.

  • Potential segments/regions offering promising growth.

  • Geographical presence of the key players.

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