Field Service Management Market To Reach $11.78 Billion By 2030

Field Service Management Market Growth & Trends

The global field service management market size is expected to reach USD 11.78 billion by 2030, registering a CAGR of 13.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Various other factors such as improper management of inventory, increased inventory cycle time, increased holding cost, increased ordering cost and incorrect information about the stock further increase the cost of business operations. FSM software helps to fortify the functionality of the service industry while improving overall profitability.

The main forces which are driving the market include the increase in number of field operations across manufacturing, oil & gas and construction sector., increase in the use of smartphone devices, and rising demand for better organizational efficiency and reduced cost of operations. The advancement of cloud services supports the integration of the cloud to the FSM software. This is expected to surge the FSM market growth over the next nine years. Over the forecast period, most of the end-use industries are expected to deploy the FSM software on the cloud rather than on the premise.

The global field service management market is anticipated to witness high growth over the forecast period. The high presence of smartphones and tablets are playing an important role in the overall growth of the FSM industry globally. FSM solutions are also compatible with next-generation smartphone operating systems, further boosting their importance across the competitive landscape.

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Field Service Management Market Report Highlights

• The mobile field execution solution provided by the FSM software is the most preferred solution by the end-use industries which helps in execution and maintenance of fieldwork by technicians, reporting status, receiving alerts, gain visibility to individual performance.

• Most of the end-use industries such as utilities, healthcare, IT among others are moving from on-premise deployment to cloud deployment of the FSM software as it enables faster deployment speeds and reduces upfront costs.

• As compared to the small and medium enterprises, the large enterprises are increasingly adopting the FSM software for the management of large on-field technicians and employees who work on the field.

• The FSM software is being increasingly adopted across the construction industry due to the rapid industrialization and increasing population particularly in developing countries such as China and India.

• The FSM market is in the developing stage in the regions of Asia-Pacific, Middle East & Africa, and Latin America due to their increase in investment in the IT sector and increased focus on digital workplace transformation initiatives.

Field Service Management Market Segmentation

Grand View Research has segmented the global field service management market based on component, deployment, enterprise, end-use and region:

Field Service Management Component Outlook (Revenue in USD Million, 2017 - 2030)

• Solution

  • Mobile field execution

  • Service contract management

  • Warranty management

  • Workforce management

  • Customer management

  • Inventory management

  • Others

• Services

  • Implementation

  • Training & support

  • Consulting & advisory

Field Service Management Deployment Outlook (Revenue in USD Million, 2017 - 2030)

• On-Premise

• Cloud

Field Service Management Enterprise Outlook (Revenue in USD Million, 2017 - 2030)

• Large enterprises

• SMEs

Field Service Management End-use Outlook (Revenue in USD Million, 2017 - 2030)

• Energy & utilities

• Telecom

• Manufacturing

• Healthcare

• BFSI

• Construction & real estate

• Transportation & logistics

• Retail & wholesale

• Others

Field Service Management Regional Outlook (Revenue in USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

List Of Key Players Field Service Management Market

• IBM Corporation

• Agile 3 Solutions LLC

• Accenture

• Comarch SA

• Salesforce, Inc.

• Infor

• Klugo Group, SAP SE

• Astea International, Inc.

• Trimble Navigation Limited

• Tech Mahindra Limited