India – March 16, 2022 —
Field Service Management Platform Global Market- Overview
Field Service Management Market is expected to grow exponentially over the review period, securing a substantial market valuation of approximately USD 8.93 billion by 2030, and a healthy 11.9% CAGR over the review period.
The global field service management market is witnessing immense growth, primarily due to the advent of cloud technologies and rising popularity of bring your own device (BYOD). In addition to this, some other factors that are responsible for the growth of the FSM market include the growing need of customer satisfaction and increasing adoption of smartphones & wearable devices by field service personnel. The field service management program also helps to resolve the problems more effectively by remotely tracking the facilities and automatically defining and allocating resources during emergency.
Field service management platforms are necessary for players who send some of their equipment to a client’s site. Field service management refers to the efforts taken to manage and keep track of a company’s resources employed on the client’s premises rather than the manufacturers. Companies that need to install or repair their product regularly have a great need for the Field Service Management Platform Market. The global field service management platform market is thus likely to grow thanks to the growing demand for on-site monitoring.
Field service management platforms enable a single source for managing the manpower employed on the client’s site, the equipment employed on the site, and the resultant expenses and bills. The convenience offered by these services is thus likely to enable smooth growth of the field service management platform market over the forecast period.
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Key Players:
The key players in the market of Field Service Management Platform Aare- Oracle Corporation (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Microsoft Corporation (U.S.), ClickSoftware Technologies (U.S.), Industrial & Financial Systems AB (Sweden), ServicePower Technologies PLC (U.K.), ServiceMax Inc. (U.S.), Infor (U.S.), and Astea International Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Field Service Management Platform Market.
Segmental Analysis:
The global field service management market is segmented into organization size, component, deployment, and vertical. Based on the component, the market is divided into solution and service. By solution, the market is segmented into route planning, scheduling & dispatching, inventory management, mobile field service management, equipment management, service contract management, warranty management, pre-voicing, work order management, billing & invoice, service history tracking, and others. By service, the market is segmented into support & training, implementation, and consulting. By deployment, the market is bifurcated into cloud, and on- premise. By organization size, the market is segmented into SMEs and Large enterprise. By vertical, the market is segmented into education, healthcare, manufacturing, retail, construction, IT& telecom, and others.
Regional Analysis:
The global field service management platform market is segmented into North America, Europe, Asia Pacific, and rest of the world.
North America is likely to remain the dominant player in the global field service management platform market over the forecast period due to the steady technological advancement in the region, which has allowed for the widespread use of highly developed and refined field service management platforms. The rising use of IoT solutions in North America is also conducive to the growth of the field service management platform market and is likely to remain a key driver for the market over the forecast period. The presence of several major producers as well as consumers of field service management platforms in North America is likely to remain a major driver for the field service management platform market in the region. The U.S. is expected to remain the major contributor to the North America field service management platform market due to the highly advanced industrial sector in the country and the support provided for technological advancement in industrial processes.
Europe is also likely to remain a major player in the global field service management platform market over the forecast period and occupies the second largest market share in the global charts. Europe is also home to several highly developed field service management platform buyers and sellers, leading to strong growth prospects for the market in the region. The steady growth of the industrial sector in Europe, particularly Central and Western Europe, is likely to remain a major driver for the field service management platform market. France, Germany, and Italy are likely to remain the key contributors to the Europe field service management platform market over the forecast period.
Asia Pacific is likely to emerge as a key player in the global field service management platform market over the forecast period and is expected to exhibit the highest growth rate over the 2016-2022 forecast period. The growing industrial sector in countries such as China and India is likely to be vital for the field service management market in Asia Pacific over the forecast period.
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Target Audience
· FSM Platform providers
· Cloud Service Providers
· Software Developers
· System Integrators
· Manufacturing Industry
· Government organizations
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