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Field Service Management Market Insights by Leading Companies, Demand Analysis, Future Growth and Revenue Forecast to 2021

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The FSM market size is expected to grow from USD 1.78 billion in 2016 to USD 3.61 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.1%. The FSM market is driven by factors such as need for a centralized system for the management of field services, need for real-time collaboration, along with the ever-evolving demand for increasing operational efficiency and reducing operational costs. However, security concerns with respect to access to confidential data and lack of awareness about the benefits of FSM solutions limit the growth of the market.

“Mobile field execution solution segment is expected to grow at the highest CAGR during the forecast period”
Due to growing need for quick service delivery, real-time collaboration, and scalable solution to achieve improved customer experience, the mobile field execution solution is expected to grow at the highest CAGR during the forecast period.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Field Service Management Market Insights by Leading Companies, Demand Analysis, Future Growth and Revenue Forecast to 2021

“Implementation services segment is expected to contribute to the largest market share during the forecast period”
In terms of services, implementation is the highest contributing services segment. The implementation services segment provides end-to-end support to organizations, which is the main reason for its higher adoption. The implementation services type is gaining traction in the FSM market as it helps organizations in identifying the project scope; designing the plan layout; optimizing data quality & delivery through testing, building, and deploying, and integrating FSM solutions with clients existing systems suiting the organizational business needs; and assisting trained professionals in enabling the smooth implementation of FSM solutions.

“Asia-Pacific is expected to have the highest growth rate during the forecast period”
Asia-Pacific (APAC) includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying FSM solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing number of cloud service providers, investments in infrastructure, smartphone users, and many emerging industries in the region. The North American region is expected to be the largest revenue-generating region for FSM solution and service providers in 2016. This is due to the high focus on innovation and technology adoption, especially in the developed economies of North America.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Field Service Management Market Insights by Leading Companies, Demand Analysis, Future Growth and Revenue Forecast to 2021

In-depth interviews were conducted with the CEOs, marketing directors, other innovation & technology directors, and executives from various key organizations operating in the FSM market place.
 By company type: Tier 1: 41%, Tier 2: 38%, and Tier 3: 21%
 By designation: C-Level: 73%, Director Level: 17%, and Others: 10%
 By region: North America: 58%, Europe: 17%, APAC: 18%, and RoW: 7%

Research Coverage:
The report includes in-depth competitive analysis of these key players in the FSM market with their company profiles; Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis; recent developments; and key market strategies. The research report segments the FSM market by solution and service, deployment type, user type, industry vertical, and region.

The FSM market has been segmented by solutions and services, deployment type, user type, industry, and region. The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the FSM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the end-users and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 14
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 16
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 20
2.1.2.3 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 21

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Field Service Management Market Size 2021, Regional Demand, Future Scope, Timelines And Challenges Forecast

The global “Field Service Management Market” is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is 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 discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.

The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the Field Service Management Market share, types, applications, growth factor, key players and regions.

“The global field service management (FSM) market size stood 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”

Report Highlights:

  • A comprehensive overview of the Field Service Management Market
  • Significant factors boosting, restricting, challenging and providing an opportunity to the market
  • Key insights and major industry developments
  • Significant players functioning in the Field Service Management Market
  • Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
  • Other market trends

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreaks across industries to help you prepare for the future.

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List of Top Key Manufacturers for Field Service Management Market:

  • Astea International Inc.
  • IFS
  • Oracle Corporation
  • GEOCONCEPT SAS
  • ClickSoftware
  • Workfront, Inc.
  • ServiceMax, Inc.
  • Accruen
  • OverIT
  • Praxedo
  • Zinier Inc.
  • FieldAware
  • Infor
  • SAP SE
  • Comarch SA

Market Drivers-

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.

Some of the Key Questions Answered in this Report:

  • Detailed Overview of Field Service Management Market will help deliver clients and businesses making strategies.
  • Influencing factors that are thriving demand and latest trends running in the market.
  • Field Service Management Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
  • What trends, challenges and barriers will impact the development and sizing of the Global Field Service Management Market?
  • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
  • What is the Field Service Management Market growth momentum or market carries during the forecast period?
  • Which region may tap the highest market share in the coming era?
  • Which application/end-user category or Product Type may seek incremental growth prospects?
  • What focused approach and constraints are holding the Field Service Management Market demand?

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Regional Analysis for Field Service Management Market:

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)

The Field Service Management Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

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Major Table of Contents for Field Service Management Market Research Report:

  • Introduction
  • Executive Summary
  • Market Dynamics
  • Key Field Service Management Market Insights
  • Global Market Analysis, Insights and Forecast, 2015-2026
  • North America Market Analysis, Insights and Forecast, 2015-2026
  • Europe Market Analysis, Insights and Forecast, 2015-2026
  • Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
  • The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
  • Latin America Market Analysis, Insights and Forecast, 2015-2026
  • Competitive Landscape
  • Global Field Service Management Market Revenue Share Analysis, By Key Players, 2020
  • Company Profiles
  • Conclusion

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact:

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Email: [email protected]
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