Field Service Management Market: Need to Enhance Consumer Relationship to Drive Growth

Posted June 8, 2020 by Aashi_K

The global field service management (FSM) market size was at USD 2.29 billion in 2018 and is projected to reach USD 7.27 billion by 2026, exhibiting a CAGR of 15.9% during the forecast period.

Fortune Business Insights™ published the information mentioned above in a recent report, titled, “Field Service Management (FSM) Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment Type (Cloud and On-Premises), By Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-User (Manufacturing, IT and Telecommunications, Healthcare and Life Sciences, Energy and Utilities, Retail and Consumer Goods, Construction, and Others) and Regional Forecast, 2019-2026.” The report further states that the FSM market size stood at USD 2.29 billion in 2018. It is projected to reach USD 7.27 billion by 2026, thereby exhibiting a CAGR of 15.9% during the forecast period.

The global field service management (FSM) market is anticipated to gain traction from the urgent demand for efficient solutions owing to the increasing number of field technicians. FSM tools and solutions would aid the organizations in boosting the productivity of these technicians by delivering real-time data and utilizing algorithmically improved scheduling from any device.

Fortune Business Insights™ lists out some of the most prominent companies present in the field service management market. They are as follows:
• Astea International Inc.
• Oracle Corporation
• ClickSoftware
• Workfront, Inc.
• ServiceMax, Inc.
• Accruen
• OverIT
• Praxedo
• Zinier Inc.
• FieldAware
• Infor
• Comarch SA
• Other key market players

Increasing Demand from Service Companies to Augment Growth

Businesses nowadays are seeking workforce management tools as the field service teams are growing in size. They need to monitor their field service technicians in real-time to send the nearest available technician for resolving a consumer’s issues during the first visit. FSM solutions aid technicians in delivering quick services to the consumers, making better business decisions, and enhancing field operations.

Furthermore, these tools are being extensively used by service companies to improve work efficiency and reduce the complexity associated with it. They are hence, trying to streamline the process of capturing and dispatching service requests. FSM tools also aid in assigning the right technician for a particular work, with effective equipment to complete the work on time. By integrating the tools with other back-office systems, they can gain access to the records of the consumers, as well as task history. These factors are set to propel the field service management market growth in the coming years.
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Last Updated June 8, 2020