Driving Field Service Management Solution Market Growth in 2025: The Role of IoT Adoption Fueling Growth of Field Service Management Solution Market

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Field Service Management Solution Market Size Growth Forecast: What to Expect by 2025?
The market size of the field service management solution has shown remarkable growth recently. It is projected to expand from a value of $2.69 billion in 2024 to $3.26 billion in 2025, yielding a compound annual growth rate (CAGR) of 21.2%. The significant growth observed in the past can be credited to the widespread adoption of cloud-based field service solutions, a growing preference for software-as-a-service (SaaS) compared to traditional on-premises software, an upsurge in the need for mobility for real-time visibility, swift assimilation of FSM solutions, and overall economic growth.

How Will the Field Service Management Solution Market Size Evolve and Grow by 2029?
In the upcoming years, the market size for field service management solution is anticipated to experience substantial growth, reaching $6.88 billion in 2029 with a compound annual growth rate (CAGR) of 20.5%. This expansion in the projected period is due to factors such as the prevalent use of smartphones, an increase in the number of skilled field service professionals in the IT and telecommunications sector, a surge in the adoption of wearable devices, greater customer experience demand, and an uptick in automation and digitalisation in the field services sector. The forecast period will also witness significant trends, including the rise of mobility solutions, application of virtual and augmented reality (VR and AR), transition to cloud-based technology, advancements in technology, and an increase in partnerships.

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What Drivers Are Propelling the Growth of Field Service Management Solution Market Forward?
The anticipated growth in the field service management solution market is projected to be fuelled by the surge in the adoption of the Internet of Things (IoT). IoT includes a range of interconnected devices, sensors, and entities that exchange and transmit data without requiring human interaction. Attractions such as high-speed 5G networks, advancements in connectivity technologies, and widespread cloud and edge computing have spurred the uptake of IoT across several industries. Incorporating IoT into Field Service Management (FSM) harnesses the power of cloud technology to automate client solutions, streamline operations, and allow a focus on primary business targets. For example, as reported by the UK-based non-profit organization, the GSM Association, in January 2022, IoT connections are set to rise from 15.1 billion in 2021 to over 23.3 billion by 2025. Hence, the increased acceptance of IoT is a primary factor driving the expansion of the field service management solution market.

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Which Emerging Trends Are Transforming the Field Service Management Solution Market in 2025?
Leading firms in the field service management solution market are concentrating on creating innovative platforms like GenAI solutions to boost their market profitability. GenAI indicates artificial intelligence solutions created through various techniques, including genetic algorithms, deep learning, and other evolutionary computational methods. For instance, ServiceNow, Inc., an American software company, introduced the Now assist generative AI portfolio with new abilities in November 2023 to revolutionize user experiences and boost productivity. The GenAI technologies incorporated into the ServiceNow Platform include Now assist in virtual agent, flow generation, and Now assist for field service management (FSM). These solutions expand ServiceNow's collection of practical generative AI applications, allowing customers to streamline their workflows, improve efficiency, and advance user interactions.

What Are the Key Segments in the Field Service Management Solution Market?
The field service management solutionmarket covered in this report is segmented -

1) By Components: Solution, Services
2) By Deployment Type: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Mid-Size Enterprises
4) By Verticals: Telecom, Energy And Utilities, IT And ITEs, Manufacturing, Construction And Real Estate, Transportation And Logistics, Oil And Gas, Healthcare And Life Sciences, Other Verticals

Subsegments:
1) By Solution: Work Order Management, Scheduling And Dispatching, Asset Management, Mobile Field Service Solutions, Inventory And Parts Management, Customer Management And CRM Integration, Analytics And Reporting, Billing And Invoicing
2) By Services: Consulting Services, Integration & Implementation Services, Training And Support Services, Maintenance And Managed Services, Cloud Services

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Who Are the Key Players Shaping the Field Service Management Solution Market's Competitive Landscape?
Major companies operating in the field service management solution market are Microsoft Corporation, Verizon Connect, Oracle Corporation, SAP SE, Salesforce Inc., IFS AB, Comarch SA, ServiceTitan, WorkWave, Field Nation LLC, ServiceMax Inc., Workiz, Jobber, Jotform, Sig Saucer Inc., Zinier Inc., Skedulo, Praxedo, FieldPulse, FieldAware Inc., OverIT S.p.A., SIMPRO S.p.A, Azuga Inc., TrueContext Corporation, Route4Me Inc

What Geographic Markets Are Powering Growth in the Field Service Management Solution Market?
North America was the largest region in the field service management solution market in 2024. The regions covered in the field service management solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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