Field Service Management (FSM) Market Size, Share, Emerging Trends, Analysis and Forecasts 2025
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<strong>Field</strong> <strong>Service</strong> <strong>Management</strong> (<strong>FSM</strong>) <strong>Market</strong> <strong>Size</strong>, <strong>Share</strong>, <strong>Emerging</strong><br />
<strong>Trends</strong>, <strong>Analysis</strong> <strong>and</strong> <strong>Forecasts</strong> <strong>2025</strong><br />
“The field services are considered as one of the fastest growing<br />
segment in the field service management market with substantial<br />
revenue generation in the last couple of years. Growing<br />
popularity of the field services market segment is attributed to<br />
increasing penetration of smartphones <strong>and</strong> tablets across the<br />
globe.”<br />
The global <strong>Field</strong> <strong>Service</strong> <strong>Management</strong> (<strong>FSM</strong>) market size is expected to value at USD 4.1 billion by <strong>2025</strong>. The<br />
market is subject to witness a substantial growth due to the increasing number of field campaigns around<br />
various end-user businesses like telecom sector, oil & gas industry, building & construction sector <strong>and</strong> energy &<br />
utilities industry. Moreover, growing dem<strong>and</strong> for the field service management solutions by numerous small &<br />
medium-sized enterprises (SMEs) is also anticipated to fuel the growth of market over the forecast period.<br />
Globally, the field service management market is predicted to grow at CAGR of 10% in forecast period, providing<br />
numerous opportunities for market players to invest in research <strong>and</strong> development in the market. Some of the<br />
important factors such as complex management of inventory, improved inventory cycle time, higher asset cost,<br />
higher collection cost <strong>and</strong> unpredictable data regarding the stock exchange <strong>and</strong> higher cost of business<br />
operations, are driving market growth in the recent years.<br />
<strong>Field</strong> service management software allows fortification of the functions performed by service sector thus<br />
enhancing overall profitability. Increasing adoption of h<strong>and</strong>held electronic devices, growing need for superior<br />
operational efficiency <strong>and</strong> reduced functional cost are expected to fuel the growth of field service management<br />
(<strong>FSM</strong>) industry in the upcoming years. Recent advancement in the cloud services that allows the incorporation<br />
of cloud solutions onto the field service management software are further augmenting market value of the field<br />
service management industry.<br />
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Growing competition in the market is expected to push industry players to further invest in the research &<br />
development of the field service management solution, offering innovative products <strong>and</strong> services, which in turn<br />
drive market growth over the next decade. Cloud security <strong>and</strong> numerous advantages over traditional platforms<br />
enables numerous organizations to opting for cloud based field service management software.<br />
The field services are considered as one of the fastest growing segment in the field service management market<br />
with substantial revenue generation in the last couple of years. Growing popularity of the field services market<br />
segment is attributed to increasing penetration of smartphones <strong>and</strong> tablets across the globe. <strong>Field</strong> service<br />
management solutions are highly compatible with advanced mobile operating systems, thereby propelling<br />
market expansion, in the recent years.<br />
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<strong>Field</strong> service management software offers enhanced productivity that ultimately leads to an increase in overall<br />
profit. Furthermore, early adoption of the field service management software allows superior communication<br />
among the front office, management teams, <strong>and</strong> technicians. As operators <strong>and</strong> field labors pass minimum time<br />
for synchronizing logistical tasks, they can spend more time for client work, thus increasing overall efficiency.<br />
Asia-Pacific region is predicted to hold major market share in the field service management market with massive<br />
growth in forecast period. Countries such as India, China <strong>and</strong> Japan are leading the Asia-Pacific market with rise<br />
in the number of end-user industries, increase in the dem<strong>and</strong> for optimized workflow, improved productivity<br />
<strong>and</strong> significant investment by leading industry players considering potential growth opportunities in the region.<br />
The key players in the field service management industry are Accenture Inc., Comarch S.A., ClickSoftware<br />
Technologies Ltd., Infor Pvt. Ltd., Klugo Group Pvt. Ltd., SAP SE, Astea International Incorporations, Trimble<br />
Navigation Ltd., <strong>and</strong> Tech Mahindra Ltd.<br />
<strong>Market</strong> Segment:<br />
<strong>Field</strong> <strong>Service</strong> <strong>Management</strong> Solution Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• Mobile <strong>Field</strong> Execution<br />
• <strong>Service</strong> Contract <strong>Management</strong><br />
• Warranty <strong>Management</strong><br />
• Workforce <strong>Management</strong><br />
• Customer <strong>Management</strong>
• Inventory <strong>Management</strong><br />
• Others<br />
<strong>Field</strong> <strong>Service</strong> <strong>Management</strong> Enterprise Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• Small & medium enterprises<br />
• Large enterprises<br />
<strong>Field</strong> <strong>Service</strong> <strong>Management</strong> Application Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• Energy & Utilities<br />
• Telecom<br />
• Manufacturing<br />
• Healthcare<br />
• BFSI<br />
• Construction & Real Estate<br />
• Transportation & Logistics<br />
• Others<br />
Material H<strong>and</strong>ling Equipment Regional Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Canada<br />
• Europe<br />
• UK<br />
• Germany<br />
• Asia Pacific<br />
• China
• India<br />
• Japan<br />
• Latin America<br />
• Middle East & Africa<br />
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