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Field Service Management Market Report Scope & Overview:

The Field Service Management Market size was valued at USD 3.72 billion in 2022 and is expected to grow to USD 10.44 billion by 2030 and grow at a CAGR of 13.78 % over the forecast period of 2023-2030.

Field service employees and contractors are frequently sent to designated areas to install, repair, or maintain systems and equipment. To manage these operations, companies use a system called Field Service Management (FSM). FSM is a comprehensive tool that tracks various aspects of field operations, including inventory management, scheduling, vehicle tracking, dispatching, invoicing, billing, customer portals, and other features. The primary goal of the FSM sector is to enhance the deliverability and productivity of field service teams. FSM offers numerous benefits, such as access to customer information from any location, reduced operational overheads and fuel expenditures, management of a mobile workforce, increased productivity, and improved customer satisfaction. By implementing FSM, companies can streamline their field operations and improve their overall efficiency. FSM enables businesses to manage their field service teams more effectively, resulting in faster response times, reduced downtime, and increased customer satisfaction. With FSM, companies can track their inventory, schedule appointments, and dispatch technicians more efficiently, resulting in a more productive and profitable business. FSM is a powerful tool that can help businesses optimize their field operations and improve their bottom line. By leveraging FSM, companies can enhance their customer service, reduce costs, and increase their overall productivity.

Field Service Management Market Revenue Analysis

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Market Dynamics

Drivers

  • Rising Demand for Real-Time Visibility Services Will Drive Market Growth

Real-time field service solutions are in high demand across sectors to improve customer satisfaction. Real-time monitoring and control of field technicians enable organizations to resolve customer inquiries on the first try by linking them with the nearest service provider. As a result, these solutions are gaining popularity across all industries. These solutions assist organizations in promptly reacting to client concerns, hence increasing customer experience and connection. The real-time FSM system can effectively manage all field activities in order to make better business decisions.

Restrains

  • Underkilled Labor to Limit Market Growth

Because of the underkilled workforce, service providers and managers face a variety of issues in managing complex assets and services. Due to a shortage of skilled personnel, providers are experiencing on-the-job obstacles such as confusion regarding job requirements, increased return trips, scheduling conflicts, inability to grasp instruction, and other issues. The absence of technician training and information transfer is likely to impede on-field operations. Furthermore, due to the rising burden on-field personnel, organizations are unable to maintain or recruit new staff. This is predicted to have a negative effect on market growth. Many businesses are employing distinct solutions, such as automation, to handle the problem.

Opportunities

  • Technology advancements such as augmented reality

Challenges

  • Organizational security issues around data confidentiality

Impact of the Russia-Ukraine War

The ongoing conflict between Russia and Ukraine has had a significant impact on various industries, including the field service management market. This market, which involves the management of field service technicians and their activities, has been affected by the political and economic instability in the region. the war has caused a decline in the overall economy of the region, which has affected the purchasing power of businesses and consumers. This has resulted in a decrease in demand for field service management services, as companies are cutting back on expenses. Despite these challenges, some companies in the field service management market have adapted to the situation by diversifying and expanding into new markets. They have also focused on providing more value-added services to their customers, such as predictive maintenance and remote monitoring.

Impact of recession

The impact of a recession on the Field Service Management (FSM) market can vary depending on the specific circumstances and duration of the economic downturn.

During a recession, organizations often face financial constraints and may reduce their overall spending, including on technology investments. This can result in a decrease in the adoption of new FSM solutions or a delay in upgrading existing systems. Companies may postpone or cancel projects that involve implementing or expanding FSM systems. Large-scale projects requiring significant financial investment and resources are particularly susceptible to postponement or cancellation during economic uncertainty.

By adopting field service management software, the crew can perform more work in the same amount of time. Consider increasing each team member's productivity by 10% to 15%. During a recession, organizations often focus on cost optimization and streamlining operations to maintain profitability. This may involve consolidating field service operations, reducing the number of technicians, or optimizing schedules and routes to maximize efficiency. Companies may also seek more affordable FSM solutions or negotiate better pricing with existing vendors.

In a recession, competition within industries often intensifies as companies vie for a limited number of customers and contracts. This can lead to greater pressure on FSM solution providers to offer competitive pricing, innovative features, and enhanced customer service to differentiate themselves in the market.

Key Market Segmentation:

The Field Service Management Market is segmented into five types on the basis of By Component, By Deployment, By Application, By enterprise size, and By Vertical.

By Component

  • Software

  • Services

By Deployment

  • On-Premise

  • Cloud

By Application

  • Work Order Management

  • Schedule, Dispatch, and Route Optimization

  • Customer Management

  • Inventory Management

  • Service Contract Management

  • Reporting & Analytics

  • Others

By Enterprise Size

  • Large Enterprises

  • Small & Medium Enterprises (SMEs)

By Vertical

  • Banking, Financial Services and Insurance (BFSI)

  • IT & Telecom

  • Healthcare & Life Sciences

  • Manufacturing

  • Transportation & Logistics

  • Construction & Heavy Equipment

  • Energy & Utilities

  • Others

Field Service Management Market Segmentation Analysis

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Regional Analysis

North America had the most share and is likely to maintain this trend throughout the projection period. Factors such as increased awareness of sophisticated field management solutions, cloud technology acceptance, and widespread mobility usage in the field service industry fuel the growth of the FSM market in North America.

However, Asia-Pacific is expected to grow the fastest during the forecast period, owing to strong economic growth and ongoing development in field service and inventory management, which drives organizations to invest heavily in the field service management market in order to sustain growth and improve productivity. Furthermore, factors such as a significant trend towards digital transformation, cloud deployment, technical improvement among small and medium firms, and continual modernization in workforce management strategy in emerging nations all contribute significantly to market growth.

In the regional analysis study of the regions of North America, Europe, Asia Pacific middle east, and Africa.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The major players are GEOCONCEPT SAS, Salesforce, Oracle, Infor, ServiceMax, Inc., OverIT, Microsoft, IFS, SAP, Trimble, FieldAware, Comarch, ServicePower, Accruent, Geoconcept, Zinier, PRAXEDO, Acumatica Inc, and others in the final report.

Oracle-Company Financial Analysis

Company Landscape Analysis

Recent development

Mize, Inc. combined with Syncron, a service parts and contracts management firm, in August 2021. The firms are collaborating to build their worldwide company by using their brand names and well-established consumer bases.

July 2020 - Zinier, Inc., in collaboration with Tata Consultancy Services, Ltd., released field service automation to assist clients amid unanticipated service and manpower disruptions.

Field Service Management Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 3.72 Bn
Market Size by 2030  US$ 10.44  Bn
CAGR   CAGR of 13.78 % From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Software, Services)
• By Deployment (On-Premise, Cloud)
• By Application (Work Order Management, Schedule, Dispatch, and Route Optimization, Customer Management, Inventory Management, Service Contract Management, Reporting & Analytics, Others)
• By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs))
• By Vertical (Banking, Financial Services and Insurance (BFSI), IT & Telecom, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics, Construction & Heavy Equipment, Energy & Utilities, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles GEOCONCEPT SAS, Salesforce, Oracle, Infor, ServiceMax, Inc., OverIT, Microsoft, IFS, SAP, Trimble, FieldAware, Comarch, ServicePower, Accruent, Geoconcept, Zinier, PRAXEDO, Acumatica Inc
Key Drivers • Rising Demand for Real-Time Visibility Services Will Drive Market Growth
Market Opportunities • Technology advancements such as augmented reality

 

Frequently Asked Questions

Ans:  13.78% is the CAGR of the Field Service Management Market.

Ans:  USD 3.72 billion in 2022 is the market share of the Field Service Management Market.

Ans. The major players are GEOCONCEPT SAS, Salesforce, Oracle, Infor, ServiceMax, Inc., OverIT, Microsoft, IFS, SAP, Trimble, FieldAware, Comarch, ServicePower, Accruent, Geoconcept, Zinier, PRAXEDO, Acumatica Inc, and others in the final report.

Ans: North America is the dominating region in Field Service Management Market.

Ans. The forecast period for the Field Service Management Market is 2023-2030.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Field Service Management Market Segmentation, By Component
8.1 software
8.2 Services

9. Field Service Management Market Segmentation, By Deployment
9.1 Cloud
9.2 On-Premises

10. Field Service Management Market Segmentation, By Application
10.1 Work Order Management
10.2 Schedule, Dispatch, and Route Optimization
10.3 Customer Management
10.4 Inventory Management
10.5 Service Contract Management
10.6 Reporting & Analytics
10.7 Others

11. Field Service Management Market Segmentation, By Enterprise Size
11.1 Large Enterprises
11.2 Small & Medium Enterprises (SMEs)

12. Field Service Management Market Segmentation, By Vertical
12.1 Banking, Financial Services and Insurance (BFSI)
12.2 IT & Telecom
12.3 Healthcare & Life Sciences
12.4 Manufacturing
12.5 Transportation & Logistics
12.6 Construction & Heavy Equipment
12.7 Energy & Utilities
12.8 Others

13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 North America Field Service Management Market By Country
13.2.2North America Field Service Management Market By Component
13.2.3 North America Field Service Management Market By Deployment
13.2.4 North America Field Service Management Market By Application
13.2.5 North America Field Service Management Market By Enterprise Size
13.2.6 North America Field Service Management Market By Vertical
13.2.7 USA
13.2.7.1 USA Field Service Management Market By Component
13.2.7.2 USA Field Service Management Market By Deployment
13.2.7.3 USA Field Service Management Market By Application
13.2.7.4 USA Field Service Management Market By Enterprise Size
13.2.7.5 USA Field Service Management Market By Vertical
13.2.8 Canada
13.2.8.1 Canada Field Service Management Market By Component
13.2.8.2 Canada Field Service Management Market By Deployment
13.2.8.3 Canada Field Service Management Market By Application
13.2.8.4 Canada Field Service Management Market By Enterprise Size
13.2.8.5 Canada Field Service Management Market By Vertical
13.2.9 Mexico
13.2.9.1 Mexico Field Service Management Market By Component
13.2.9.2 Mexico Field Service Management Market By Deployment
13.2.9.3 Mexico Field Service Management Market By Application
13.2.9.4 Mexico Field Service Management Market By Enterprise Size
13.2.9.5 Mexico Field Service Management Market By Vertical
13.3 Europe
13.3.1 Europe Field Service Management Market By country
13.3.2 Europe Field Service Management Market By Component
13.3.3 Europe Field Service Management Market By Deployment
13.3.4 Europe Field Service Management Market By Application
13.3.5 Europe Field Service Management Market By Enterprise Size
13.3.6 Europe Field Service Management Market By Vertical
13.3.7 Germany
13.3.7.1 Germany Field Service Management Market By Component
13.3.7.2 Germany Field Service Management Market By Deployment
13.3.7.3 Germany Field Service Management Market By Application
13.3.7.4 Germany Field Service Management Market By Enterprise Size
13.3.7.5 Germany Field Service Management Market By Vertical
13.3.8 UK
13.3.8.1 UK Field Service Management Market By Component
13.3.8.2 UK Field Service Management Market By Deployment
13.3.8.3 UK Field Service Management Market By Application
13.3.8.4 UK Field Service Management Market By Enterprise Size
13.3.8.5 UK Field Service Management Market By Vertical
13.3.9 France
13.3.9.1 France Field Service Management Market By Component
13.3.9.2 France Field Service Management Market By Deployment
13.3.9.3 France Field Service Management Market By Application
13.3.9.4 France Field Service Management Market By Enterprise Size
13.3.9.5 France Field Service Management Market By Vertical
13.3.10 Italy
13.3.10.1 Italy Field Service Management Market By Component
13.3.10.2 Italy Field Service Management Market By Deployment
13.3.10.3 Italy Field Service Management Market By Application
13.3.10.4 Italy Field Service Management Market By Enterprise Size
13.3.10.5 Italy Field Service Management Market By Vertical
13.3.11 Spain
13.3.11.1 Spain Field Service Management Market By Component
13.3.11.2 Spain Field Service Management Market By Deployment
13.3.11.3 Spain Field Service Management Market By Application
13.3.11.4 Spain Field Service Management Market By Enterprise Size
13.3.11.5 Spain Field Service Management Market By Vertical
13.3.12 The Netherlands
13.3.12.1 Netherlands Field Service Management Market By Component
13.3.12.2 Netherlands Field Service Management Market By Deployment
13.3.12.3 Netherlands Field Service Management Market By Application
13.3.12.4 Netherlands Field Service Management Market By Enterprise Size
13.3.12.5 Netherlands Field Service Management Market By Vertical
13.3.13 Rest of Europe
13.3.13.1 Rest of Europe Field Service Management Market By Component
13.3.13.2 Rest of Europe Field Service Management Market By Deployment
13.3.13.3 Rest of Europe Field Service Management Market By Application
13.3.13.4 Rest of Europe Field Service Management Market By Enterprise Size
13.3.13.5 Rest of Europe Field Service Management Market By Vertical
13.4 Asia-Pacific
13.4.1 Asia Pacific Field Service Management Market By country
13.4.2 Asia Pacific Field Service Management Market By Component
13.4.3 Asia Pacific Field Service Management Market By Deployment
13.4.4Asia Pacific Field Service Management Market By Application
13.4.5Asia Pacific Field Service Management Market By Enterprise Size
13.4.6 Asia Pacific Field Service Management Market By Vertical
13.4.7 Japan
13.4.7.1 Japan Field Service Management Market By Component
13.4.7.2 Japan Field Service Management Market By Deployment
13.4.7.3 Japan Field Service Management Market By Application
13.4.7.4 Japan Field Service Management Market By Enterprise Size
13.4.7. 5Japan Field Service Management Market By Vertical
13.4.8South Korea
13.4.8.1 South Korea Field Service Management Market By Component
13.4.8.2 South Korea Field Service Management Market By Deployment
13.4.8.3 South Korea Field Service Management Market By Application
13.4.8.4 South Korea Field Service Management Market By Enterprise Size
13.4.8.5 South Korea Field Service Management Market By Vertical
13.4.9 China
13.4.9.1 China Field Service Management Market By Component
13.4.9.2 China Field Service Management Market By Deployment
13.4.9.3 China Field Service Management Market By Application
13.4.9.4 China Field Service Management Market By Enterprise Size
13.4.9.5 China Field Service Management Market By Vertical
13.4.10 India
13.4.10.1 India Field Service Management Market By Component
13.4.10.2 India Field Service Management Market By Deployment
13.4.10.3 India Field Service Management Market By Application
13.4.10.4 India Field Service Management Market By Enterprise Size
13.4.10.5 India Field Service Management Market By Vertical
13.4.11 Australia
13.4.11.1 Australia Field Service Management Market By Component
13.4.11.2 Australia Field Service Management Market By Deployment
13.4.11.3 Australia Field Service Management Market By Application
13.4.11.4 Australia Field Service Management Market By Enterprise Size
13.4.11.5 Australia Field Service Management Market By Vertical
13.4.12 Rest of Asia-Pacific
13.4.12.1 APAC Field Service Management Market By Component
13.4.12.2 APAC Field Service Management Market By Deployment
13.4.12.3 APAC Field Service Management Market By Application
13.4.12.4 APAC Field Service Management Market By Enterprise Size
13.4.12.5 APAC Field Service Management Market By Vertical
13.5 The Middle East & Africa
13.5.1 The Middle East & Africa Field Service Management Market By country
13.5.2 The Middle East & Africa Field Service Management Market By Component
13.5.3 The Middle East & Africa Field Service Management Market By Deployment
13.5.4 The Middle East & Africa Field Service Management Market By Application
13.5.5 The Middle East & Africa Field Service Management Market By Enterprise Size
13.5.6 The Middle East & Africa Field Service Management Market By Vertical
13.5.7 Israel
13.5.7.1 Israel Field Service Management Market By Component
13.5.7.2 Israel Field Service Management Market By Deployment
13.5.7.3 Israel Field Service Management Market By Application
13.5.7.4 Israel Field Service Management Market By Enterprise Size
13.5.7.5 Israel Field Service Management Market By Vertical
13.5.8 UAE
13.5.8.1 UAE Field Service Management Market By Component
13.5.8.2 UAE Field Service Management Market By Deployment
13.5.8.3 UAE Field Service Management Market By Application
13.5.8.4 UAE Field Service Management Market By Enterprise Size
13.5.8.5 UAE Field Service Management Market By Vertical
13.5.9 South Africa
13.5.9.1 South Africa Field Service Management Market By Component
13.5.9.2 South Africa Field Service Management Market By Deployment
13.5.9.3 South Africa Field Service Management Market By Application
13.5.9.4 South Africa Field Service Management Market By Enterprise Size
13.5.9.5 South Africa Field Service Management Market By Vertical
13.5.10 Rest of Middle East & Africa
13.5.10.1 Rest of Middle East & Asia Field Service Management Market By Component
13.5.10.2 Rest of Middle East & Asia Field Service Management Market By Deployment
13.5.10.3 Rest of Middle East & Asia Field Service Management Market By Application
13.5.10.4 Rest of Middle East & Asia Field Service Management Market By Enterprise Size
13.5.10.5 Rest of Middle East & Asia Field Service Management Market By Vertical
13.6 Latin America
13.6.1 Latin America Field Service Management Market By Country
13.6.2 Latin America Field Service Management Market By Component
13.6.3 Latin America Field Service Management Market By Deployment
13.6.4 Latin America Field Service Management Market By Application
13.6.5Latin America Field Service Management Market By Enterprise Size
13.6.6 Latin America Field Service Management Market By Vertical
13.6.7 Brazil
13.6.7.1 Brazil Field Service Management Market By Component
13.6.7.2 Brazil Africa Field Service Management Market By Deployment
13.6.7.3Brazil Field Service Management Market By Application
13.6.7.4 Brazil Field Service Management Market By Enterprise Size
13.6.7.5 Brazil Field Service Management Market By Vertical
13.6.8 Argentina
13.6.8.1 Argentina Field Service Management Market By Component
13.6.8.2 Argentina Field Service Management Market By Deployment
13.6.8.3 Argentina Field Service Management Market By Application
13.6.8.4 Argentina Field Service Management Market By Enterprise Size
13.6.8.5 Argentina Field Service Management Market By Vertical
13.6.9 Rest of Latin America
13.6.9.1 Rest of Latin America Field Service Management Market By Component
13.6.9.2 Rest of Latin America Field Service Management Market By Deployment
13.6.9.3 Rest of Latin America Field Service Management Market By Application
13.6.9.4 Rest of Latin America Field Service Management Market By Enterprise Size
13.6.9.5 Rest of Latin America Field Service Management Market By Vertical

14 Company Profile
14.1 Salesforce
14.1.1 Market Overview
14.1.2 Financials
14.1.3 Product/Services/Offerings
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 GEOCONCEPT SAS.
14.2.1 Market Overview
14.2.2 Financials
14.2.3 Product/Services/Offerings
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Oracle.
14.3.1 Market Overview
14.3.2 Financials
14.3.3 Product/Services/Offerings
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Infor.
14.4.1 Market Overview
14.4.2 Financials
14.4.3 Product/Services/Offerings
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 ServiceMax, Inc.
14.5.1 Market Overview
14.5.2 Financials
14.5.3 Product/Services/Offerings
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 OverIT.
14.6.1 Market Overview
14.6.2 Financials
14.6.3 Product/Services/Offerings
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Microsoft
14.7.1 Market Overview
14.7.2 Financials
14.7.3 Product/Services/Offerings
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 SAP.
14.8.1 Market Overview
14.8.2 Financials
14.8.3 Product/Services/Offerings
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 FieldAware.
14.9.1 Market Overview
14.9.2 Financials
14.9.3 Product/Services/Offerings
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Comarch.
14.10.1 Market Overview
14.10.2 Financials
14.10.3 Product/Services/Offerings
14.10.4 SWOT Analysis
14.10.5 The SNS View

15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments

16. USE Cases and Best Practices

17. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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