Mobile Resource Management (MRM) Solution Market The Rise of Demand Market Analysis and Growth Expectations in 2030 | AppLocation Systems, Inc., AT&T, CalAmp Corporation

Mobile resource management (MRM) refers to the strategic planning, deployment, monitoring and management of mobile resources to achieve greater control and optimized utilization of scarce mobile assets and personnel. MRM solutions help organizations track and optimize mobile assets, workforce and expenses to improve efficiency.

The Mobile Resource Management Solution Market is estimated for US$ 12.3 billion for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

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Market Dynamics:

The growth of the Mobile Resource Management Solution Market is driven by rising adoption of advanced MRM solutions by various industries to improve asset and workforce optimization. Additionally, increasing need for real-time visibility of mobile assets and workers is also contributing to the market growth. MRM solutions enable enterprises to effectively deploy field workforce, track asset locations, monitor fuel usage and expenses on a real-time basis. They also help in scheduling maintenance and repairs while improving productivity and reducing operational costs. These benefits are encouraging more organizations to integrate MRM solutions in their business processes. Furthermore, technological advancements like integration of IoT, cloud, AI and analytics are enhancing the functionalities of MRM solutions.

Driver: Growing Need for Optimum Utilization of Mobile Assets

With more assets being mobilized and deployed in the field, organizations are looking for ways to optimize the usage of these mobile assets. Mobile resource management solutions help track the location of these assets in real-time which improves productivity and reduces operational costs. These solutions give organizations visibility into where their mobile assets are located at any given time which helps dispatch the nearest available asset for a job. This results in lesser travel and turnaround time, faster response times, higher asset utilization and overall cost savings.

Driver: Need for Real-time Visibility Into Mobile Workforce

Mobile workforces are becoming common across industries like transportation & logistics, field services, utilities etc. However, managing a distributed mobile workforce manually is a challenging task. Mobile resource management solutions provide real-time tracking of staff location, work status and productivity. Managers can assign and dispatch jobs to the nearest available worker. Employees get automated notifications of new jobs on their mobiles. This level of visibility helps improve workforce coordination and productivity. It also ensures jobs are completed on time. With mobile resource management, companies are able to better monitor the performance of their mobile workforce.

Key Company Profiles:

AppLocation Systems, Inc., AT&T, CalAmp Corporation, Garmin International, Masternaut, PeopleNet Communications Corporation, SkyBitz, Inc., and Spireon, Inc.

Market segmentation:

On the basis of technology, the global mobile resource management solution market is classified into:
Field force management
Field service automation
Mobile sales force automation

On the basis of components, the global mobile resource management solution market is classified into:
Hardware
Connectivity
Data Interoperability Server
Geographic information system (GIS) Data
Decision making, Viewing and Reporting Software

On the basis of end users, the global mobile resource management solution market is classified into:
Transportation & Logistics
Energy & Utilities
Healthcare
Construction
Others

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Restrain: Data Security and Privacy Concerns

While mobile resource management solutions offer significant benefits, they also raise data security and privacy concerns. These solutions track the location of staff and company assets on a continuous basis. If not implemented properly, this can expose sensitive location data and cause security breaches and privacy violations. Employees may also have reservations about being constantly monitored at work. Organizations need to reassure users about the security of their data and put robust access protocols in place. Strict privacy policies also need to be formulated and adhered to gain users' trust on these solutions. Addressing security and compliance needs upfront requires additional investments which can restrain wider adoption.

Opportunity: Scope for Integration with Other Business Systems

Mobile resource management solutions offer a scope to integrate with other business-critical systems like ERP, CRM, dispatch/job management, telematics etc. Deeper integrations can unlock more value for organizations. For example, integrating with ERP allows syncing asset records, work orders, staff details etc. automatically. Integration with telematics provides live vehicle diagnostics. Connecting with CRM offers historical insight on customer locations and service areas. Jointly leveraging location data from these integrated systems can power advanced analytics, predictive maintenance and more targeted customer engagements. Mobile resource management vendors are yet to fully realize this integration opportunity which stands to significantly expand use cases and drive more ROI for enterprises.

Trend: Adoption of Cloud-based SaaS Deployments

With the evolution of cloud computing, mobile resource management vendors are increasingly adopting cloud-based software-as-a-service (SaaS) delivery models. Cloud SaaS makes these solutions more affordable by eliminating heavy upfront capital costs and shifting to a pay-as-you-go operational cost structure. It also removes the need to procure and maintain on-premise servers and networks. For customers, cloud-based SaaS is simpler to set up, requires no upkeeping of IT infrastructure and ensures always-up-to-date versions with new features. This is driving more companies, especially medium and small businesses, to prefer cloud offerings. Vendors are witnessing rising cloud migrations and see cloud becoming the dominant deployment mode for mobile resource management solutions in the future.

Key Insights of Report:

Based on the product, the wheel Mobile Resource Management (MRM) Solution Market segment is expected to dominate the market over the forecast period.

Based on the application, the Mobile Resource Management (MRM) Solution Market segment is expected to grow significantly during the forecast period.

Based on region, the North American region is expected to dominate the market over the forecast period.

Evaluate your own strategic posture in light of this information by comparing the quantity of Mobile Resource Management (MRM) Solution Market items and the level of innovation in significant domains of application and indications.

Be aware of the significance and benefits of both rapid and gradual innovation in the various contexts and fields of today.

Carefully consider where innovation comes into your portfolio of Mobile Resource Management (MRM) Solution Market

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.