Field Service Management Market Size, Key Segments, Share, Growth Analysis and Forecast 2031

Field service management (FSM) solution is an automated system, which streamlines all the processes associated with the field operations. Field service providers can schedule the orders and dispatch the right agent to the right work location and track the vehicles by using field service software. FSM solution enables companies to automate entire field management which helps in minimizing number of errors and delay. Thus, enabling companies in timely completion of field operations.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Increase in need for automation in field service operations, rise in need for real time visibility in field service management, proliferation of mobile devices, shifting preference toward cloud-technology, and need to keep track of all the activities & resources associated with field services are some of the key factors that drive the growth of the global field service management market. In addition, the need for managing service contracts, scheduling & dispatching field workers, and for achieving efficient performance from optimum utilization of field resources, is further propelling the demand of field service management solutions. However, scarcity of skilled labors and security concerns in terms of data privacy impede the growth of the market. On the contrary, integration of advanced technologies such as AI, augmented and virtual reality, machine learning with the field service management software and adoption of IoT driving the demand for cloud-based FSM solutions are some of the factors offering significant growth opportunities to the global field service management market during the forecast period.

The market is segmented on the basis of component, deployment, organization size, industry vertical, and region. By component, the market is divided into software, and services. The solution segment is sub-divided into segments such as schedule, dispatch, & route optimization, customer management, work order management, inventory management, service contract management, reporting & analytics, and others. The services segment is further categorized into implementation & integration, training & support, consultancy services. On the basis of deployment, the market is classified into on-premise and cloud. According to organization size market is classified into large enterprises and small & medium sized enterprises (SMEs). As per industry verticals, market is divided across IT & telecom, healthcare & life sciences, manufacturing, BFSI, transportation & logistics, energy & utilities, construction and others. Based on region, the global field service management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global field service management market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analyses on the market size isprovided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of theglobal field service management market from 2018 to 2026 is provided to determine the market potential.

KEY MARKET PLAYERS
- Comarch SA
- IFS AB
- Infor
- Microsoft Corporation
- Oracle Corporation
- OverIT
- Praxedo
- Salesforce.com, Inc.
- SAP SE
- ServiceMax

KEY MARKET SEGMENTS
By Component
- Solution
o Schedule, Dispatch, and Route Optimization
o Customer Management
o Work Order Management
o Inventory Management
o Service Contract Management
o Reporting and Analytics
o Others
- Services
o Implementation & integration
o Training & support
o Consultancy services

By Deployment
- On-premise
- Cloud

By Organization Size
- Large enterprises
- Small & Medium sized Enterprises (SMEs)

By Industry Vertical
- IT & Telecom
- Healthcare & life sciences
- Manufacturing
- BFSI
- Transportation & Logistics
- Energy & Utilities
- Construction
- Others

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BY REGION
- North America
o U.S.
o Canada
- Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o China
o India
o Japan
o Singapore
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa

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