Field Service Management Market To Report Impressive Growth, Revenue To Surge To US$6.68 Billion by 2023

16-May-2018 | Zion Market Research

With the presence of a large pool of participants, the Global field service management market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Oracle Corporation, SAP SE, Microsoft Corporation, Astea International Inc., and Coresystems AG are some of the key vendors of field service management across the world. These players across field service management market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the field service management market study.

Citing an instance, on September 4, 2018, Elcome International LLC – a Dubai headquartered sales & service specialist across maritime sector - unleashed its innovative field service management system that assists in integrating disruptive technologies such as  mixed reality, AI,  collaborative databases , cloud-based Internet of Things (IoT), holographic computing, and knowledge-based software tools. Experts predict that the firm’s Onboard 365 field service platform will produce a paradigm shift in the maritime sector with the slew of service management tools offering more transparency and efficiency along with minimizing errors. They are of the view that the new platform will speed up the repair work and reduce operating costs while reducing the service downtime.

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Browse the full  Field Service Management Market by Solution (Work Order Management, Inventory Management, Customer Management, Mobile Field Service Management, Schedule, Dispatch, & Route Optimization, Billing, Invoicing, & Mobile Payments, and Others), by Deployment Mode (On-premises and Cloud), for Verticals (BFSI, Manufacturing, Telecom & IT, Retail, Transportation & Logistics, Healthcare and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023.” report at http://www.zionmarketresearch.com/report/field-service-management-market

As estimated in this report, the global field service management market stood at US$ 2.86 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this field service management market is expected to reach US$ 6.68 billion by the end of the forecast period.

Global Field Service Management Market

Humungous Demand For Effective Project Planning To Spur Market Growth Graph

“Need for proficient project planning activities along with the mounting use of wearable devices as well as mobile apps by the field personnel will impel the growth of field service management market over the forthcoming years, “says the author of this field service management market study. Apart from this, increase in the number of field operators in manufacturing, oil & gas and construction sectors will further instigate the expansion of field service management market size within the next few years. In addition, proper work allocation to field staff including technicians and dispatchers will create lucrative demand for the field management services.

Security issues associated with data discretion, however, is forecast to hinder the growth of field service management market in the ensuing years.

Introduction of New Technologies To Boost North American Dominance

Regionally, North America has been leading the worldwide field service management market and is anticipated to continue on the dominant position in the years to come, states the field service management market study. Acceptance of innovative technologies such as AI and cloud computing service along with myriad innovations taking place in the region as a result of extensive research & development activities is the main factor behind the dominance of the North America field service management market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional field service management market expansion.

The global field service management market is segmented as follows:

By Solution

  • Work Order Management
  • Inventory Management
  • Customer Management
  • Mobile Field Service Management
  • Schedule, Dispatch & Route Optimization
  • Billing, Invoicing & Mobile Payments
  • Others

By Deployment Mode

  • On-premises
  • Cloud

By Vertical

  • BFSI
  • Manufacturing
  • Telecom & IT
  • Retail
  • Transportation & Logistics
  • Healthcare
  • Others

By Region

  • North America
    • U.S.
  • Europe
    • UK 
    • France
    • Germany 
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil 
  • The Middle East & Africa

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