Field Service Management Market Share

127 8 1 introduction 8 1 1 organization size.

Field service management market share.

The field service management market was valued at usd 3 14 billion in 2019 and is expected to reach a value of usd 7 05 billion by 2025 registering a cagr of 14 44 during the forecast period from 2020 to 2025. It is anticipated that the growing demand for mobility based alternatives to enhance real time visibility in field service activities along with the rising implementation of cloud based field service. Market drivers 8 2 organization size. Field service management market share insight the market is characterized by moderate competition with the presence of a few major global players and other small vendors offering the fsm solutions.

Companies are also looking to differentiate and personalize their services reduce workforce costs enhance employee productivity and improve overall operational efficiency. The field service management market growth is also buoyed by the need of companies to meet the demands of customers for the best service and thereby increase customer satisfaction. North america is the largest contributor to the market accounting for the largest share as it is a major centre for technological developments and early adoption of new technologies. The fsm industry is witnessing mergers and acquisitions as a means of inorganic growth strategy amongst software development companies.

The report field service management market by component solution service organization size smes large enterprises deployment type on premises cloud vertical energy and utilities manufacturing oil and gas and region global forecast to 2025 size is expected to grow from usd 3 0 billion in 2020 to usd 5 1 billion by 2025 at a compound annual growth rate cagr of 11 0. The market is further expected to grow at a cagr of 16 during the forecast period of 2020 2025. Market synopsis of global field service management market market scenario field service management fsm is the process of managing the company s field operations by allocating them strategically for enhancing customer satisfaction and to maximize the productivity and efficiency of the company the increasing number of field. Covid 19 impact on market figure 22 small and medium sized enterprises to grow at a higher cagr during the forecast period table 118 market size by organization size 2014 2018 usd million.

8 field service management market by organization size page no. The global field service management market is majorly being driven by the rising demand for mobility solutions to obtain real time visibility into field operations.