Field Service Management (FSM) Software Market to grow by USD 1.46 billion from 2022 to 2027, Growth Driven by the increasing requirement to drive workforce productivity- Technavio

'NEW YORK, Sept. 20, 2023 /PRNewswire/ -- The "field service management (FSM) software market by end-user (IT and telecom, healthcare, retail, transportation and logistics, and others), deployment (on-premise and cloud-based), and geography (North America, Europe, APAC, Middle East and Africa, and South America)- Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the field service management (FSM) software market from 2023 to 2027 is USD 1.46 billion, according to Technavio. The increasing requirement to drive workforce productivity is a key factor driving market growth. It is important for businesses to effectively monitor their field resources due to the constant pressure placed on them to maintain profit margins and gain a competitive advantage in the marketplace. Some of the key factors causing stress for field service agencies include rising fuel prices, budget constraints, and high customer expectations. As a result, businesses are increasingly focusing on adopting field service management solutions as they help streamline various business processes and improve workforce productivity without the need to Increase the size of the field workforce. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge 

Inadequate training of professionals is one of the significant challenges restricting market growth. 

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The field service management (FSM) software market has been segmented by end-user (IT and telecom, healthcare, retail, transportation and logistics, and others), deployment (on-premise and cloud-based), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The IT and telecom segment is estimated to witness significant growth during the forecast period. Field service management software is being adopted in the IT and telecommunications industry as it is widely used to effectively manage field service operations, ensure timely customer support, and optimize technical staff performance. Furthermore, the key benefit of file service management software in this segment is that it streamlines service delivery through automated workflows, optimizes resource allocation, and ensures that the right expert is sent on complex missions. In addition, customer expectations in this segment are increasing.  Hence, these factors are expected to drive segment growth during the forecast period. 

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Key Companies in the Field Service Management (FSM) Software Market:

Advanced Computer Software Group Ltd., Comarch SA, FieldAware Group Ltd., FieldEZ, Fortive Corp., GeoConcept SAS, IFS World Operations AB, Infor Inc., Microsoft Corp., MSI Data LLC, Oracle Corp., OverIT Spa, PTC Inc., Salesforce Inc., SAP SE, ServicePower Inc., Simpro Group, Syncron Holding AB, Trimble Inc., and Zinier Inc.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio