03-15-2018 04:10 PM CET - Advertising, Media Consulting, Marketing Research

Asia Pacific Field Service Management Market to Experience A High Growth in the Coming Years

Press release from: Xpodence Research

The market for field service management market in Asia Pacific region is witnessing a high growth and is anticipated to dominate the market in terms of growth for the forecast period. The rise in the number of smartphone users and high implementation of the BYOD policy among enterprises are major factors that contribute to the market growth in APAC. The increasing focus of enterprises to minimize their operational costs, increase profitability and customer satisfaction will further drive the growth prospects for the FSM software market in the APAC region.

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Growing need for improved efficiency and migration to cloud are expected to be major drivers of the market. The market is also expected to grow from the high degree of technological advancements in developed and developing countries such as the U.S., the U.K., France, Germany, China and Japan among others. However, the market growth is expected to be hindered by the concerns over data security. Moreover, the market is expected to face restraint due to the growing costs of field service management solutions.

The global FSM software market is characterized by the presence of diversified international and regional vendors. The established vendors dominate this market and are likely to acquire smaller vendors to extend their product portfolio and increase their market shares. The vendors with greater technical and financial resources can develop products with enhanced features such as inventory control, proactive service insight, mobile access, and ease of use and customizations without sans technical expertise. Factors such as the increase in product and service extensions and constant technological innovations will intensify market competition in the coming years. Also, the global players will grow inorganically through mergers and acquisitions of regional players.

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The market is characterized by moderate competition owing to the presence of few major global players and other small vendors that are engaged in the provision of field service management solutions. The major companies that provide field service management solutions include ClickSoftware Technologies, Accenture, Trimble Navigation Limited, SAP SE, Infor, Comarch SA, Klugo Group, Astea International, Inc., and Tech Mahindra Limited, among others.

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This release was published on openPR.
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