Field Service Management Market: Industry Growth, Size, Share and Forecast 2019-2025

The global field service management market is expected to witness a significant growth rate of over 15% during the forecast period. In recent years with the advancements in technologies such as cloud computing, IoT and smartphones have majorly revolutionized the way work is created, distributed and completed. Business models of companies offering field service are changing very promptly. The use of field service management adds value to the respective business and their employees as well as to the client.

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Companies use mobile devices installed with field service management software to monitor the technician’s location. However, the field services operations are always accounted for unexpected variables such as vehicle or machinery breakdown, employee illness which can result in costly delays and setbacks for the business.

The management of a remote workforce that is a very crucial asset for any organization can easily be done with the help of field service management software. The software currently available in the market generally possesses features such as attendance and leave management, location tracking and route optimization, invoices and payments management, warranty and contract management, work order management, and automatic job scheduling.

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There are many free and open-source software solutions that provide more freedom of customizing the functionality. For instance, Furgus by Fergus Software provides services such as lifetime access to data, and free training programs, manage and monitor service jobs, intelligent billing and invoicing, and automated scheduling and tracking. The Free version of it provides unlimited users, 3 invoices per month with past 14 days of notes and history.

Loc8 works in both ways as field service management solution and as task management software also. Loc8 is available in the web portal as well as a mobile app which enables the seamless handling of various operations. The lite version of this software is free and provides services such as Quoting & invoicing Calendar & mapping, and Pre-built reports. Hydra OMS by Fingent Corp. is an open-source management software that is capable of automating and managing thousands of services simultaneously. The free version of this software provides the entire feature except for support. All these software optimizes the remote workforce in the best possible way increasing the output of the organization.

Current market trends covered in the market report

• Policies, like Bring your own device (BYOD) in the market, are enabling technicians to monitor and update their inventory from mobile devices which in turn is simplifying parts management. For instance, General Electric’s field service management software ServiceMax is enabling its employees to search for spare parts from their fleet.
• North America to hold a major share in the global field service management industry
• Cloud-based solutions to grow at a significant rate in the global field service management market

Field Service Management Market- Segmentation

By Deployment

• On-Premise
• Cloud-Based

By Industry Verticals

• IT & Telecom
• Healthcare & Life Sciences
• Manufacturing
• Energy & Utilities
• Others (BFSI and retail)

Global Field Service Management Market- Segmented by Region

North America

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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