DUBLIN, July 22, 2019 /PRNewswire/ -- The "Field Service Management Market by Component (Solutions, Services), Organization Size, Deployment Type, Industry Vertical (IT and Telecom, Energy and Utilities, Manufacturing, Transportation and Logistics), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The field service management market is estimated to be USD 2.8 billion in 2019 and is projected to reach USD 5.9 billion by 2024, at a CAGR of 16.2% during the forecast period.
Growing demand for mobility-based solutions to improve field service operations and maximizing the productivity of field service technicians with the help of advanced technology are expected to drive the growth of the field service management market.
Mobility and connectivity have reshaped customer expectations, with customers demanding real-time solutions to their problems. Hence, it is essential for organizations to improve service deliverability and productivity of their field service teams. Failure of organizations to meet these demands can have an adverse impact on the relationship with their customers. Digitalization has enabled customers to expect an immediate response to the types of services they need. Organizations thus need to adopt a robust solution which helps them gain control over their field service operations and deliver prompt service to customers.
Field service management powered with advanced analytical capabilities helps organizations effectively manage various field services such as controlling work orders, scheduling and dispatching problems, and managing inventories and assets. Innovative solutions from multiple vendors are being offered to field service businesses with an aim to provide a full spectrum of benefits. The field service management market witnessed positive growth in emerging economies, such as India, Japan, China, and Brazil, making it necessary for vendors to build and deliver solutions that can intuitively meet the growing demand from organizations operating in these countries.
Some of the major vendors offering field service management solutions and services across the globe include Microsoft Corporation (Microsoft); SAP SE (SAP); Oracle Corporation (Oracle); Trimble, Inc. (Trimble);Industrial and Financial Systems AB (IFS); Infor; ServiceMax, Inc. (ServiceMax); SERVICE POWER INC. (ServicePower); ClickSoftware Technologies Ltd. (ClickSoftware); Comarch SA (Comarch); OverIT;Salesforce.com (Salesforce); Astea International Inc. (Astea); FieldAware; FieldEZ; GEOCONCEPT; andZinier, Inc. (Zinier).
These vendors have adopted several organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers & acquisitions, to strengthen their presence in the field service management market. Vendors have been adopting a combination of organic and inorganic growth strategies to expand their customer base and market share. Service enhancement to meet dynamic market needs and partnerships have been the active strategies implemented by the major vendors in recent years.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 North America Field Service Management Market, By Industry Vertical & Country
4.3 Market Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Mobility Solutions to Gain Real-Time Visibility Into Field Operations
5.2.1.2 Increasing Adoption of Cloud-Based Field Service Management Solutions
5.2.2 Restraints
5.2.2.1 Security Concerns of Organizations Related to Data Confidentiality
5.2.3 Opportunities
5.2.3.1 Maximizing Work Efficiencies With the Help of Advanced Technologies
5.2.3.2 New Sales Opportunities By Technicians
5.2.4 Challenges
5.2.4.1 Selecting the Right Solution That Aligns With the Organization's Business Needs
5.2.4.2 Offering Consistent Customer Service Experience
5.3 Industry Trends
5.3.1 use Case 1: Viasat
5.3.2 use Case 2: Orchard Manufacturing Corporation (OMC)
5.3.3 use Case 3: BranDSMart USA
6 Field Service Management Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Schedule, Dispatch, and Route Optimization
6.2.1.1 Rise in Demand for Faster Delivery and Proactive Management of Service Requests is Expected to Drive the Growth of Schedule, Dispatch, and Route Optimization Solutions
6.2.2 Customer Management
6.2.2.1 Growing Focus of Organizations to Improve Customer Communication and Service Delivery is Expected to Drive the Growth of Customer Management Solutions
6.2.3 Work Order Management
6.2.3.1 Rise in Demand for Organizations to Efficiently Manage Work Orders and Improve Workforce Productivity is Expected to Drive the Growth of Work Order Management Solutions
6.2.4 Inventory Management
6.2.4.1 Growing Focus of Organizations to Manage Inventory and Improve Parts Replacement Process is Expected to Drive the Demand for Inventory Management Solutions
6.2.5 Service Contract Management
6.2.5.1 Increasing Automation of Contract Management and Renewal Process By Organizations is Expected to Drive the Growth of Service Contract Management Solutions
6.2.6 Reporting and Analytics
6.2.6.1 Need to Improve Field Service Operations With Real-Time Analysis of Information is Expected to Drive the Demand for Reporting and Analytics Solutions
6.2.7 Others
6.3 Services
6.3.1 Consulting
6.3.1.1 Need of Organizations to Identify the Right Set of Solutions Which Can Help Them Improve Their Field Service Operations is Expected to Drive the Growth of Consulting Services
6.3.2 Integration and Implementation
6.3.2.1 Efficient Deployment of Field Service Management Solutions Within Organizations' Systems is Expected to Drive the Growth of Integration and Implementation Services
6.3.3 Training and Support
6.3.3.1 Focus of Organizations to Improve Skills of Field Technicians is Expected to Drive the Growth of Training and Support Services
7 Field Service Management Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Growing Focus of Large Enterprise to Manage Their Extensive Field Operations to Drive the Adoption of Field Service Management Solutions Among Large Enterprises
7.3 Small and Medium-Sized Enterprises (SMES)
7.3.1 Need for Cost-Effective Solutions to Drive the Demand for Field Service Management Solutions Among Small and Medium-Sized Enterprises
8 Field Service Management Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Security Concerns Among Large Enterprises to Drive the Adoption of On-Premises Field Service Management Solutions
8.3 Cloud
8.3.1 Scalability and Cost-Effectiveness are Expected to Drive the Demand for Cloud-Based Field Service Management Solutions During the Forecast Period
9 Field Service Management Market By Industry Vertical
9.1 Introduction
9.2 IT and Telecom
9.2.1 Growing Need to Offer Best-In-Class Customer Experience Expected to Drive Adoption of Field Service Management Solutions in IT and Telecom Industry Vertical
9.3 Healthcare and Life Sciences
9.3.1 Need to Automate and Improve Complex Healthcare Services Expected to Drive the Demand for Field Service Management Solutions in Healthcare and Life Sciences Industry Vertical
9.4 Manufacturing
9.4.1 Rising Need to Streamline Product Manufacturing and Delivery Processes is Expected to Drive the Adoption of Field Service Management Solutions in Manufacturing Industry Vertical
9.5 Transportation and Logistics
9.5.1 Field Service Management Solutions Empower Enterprises in the Efficient Movement of People and Goods From One Location to Another
9.6 Construction and Real Estate
9.6.1 Demand for Highly Connected Environment to Efficiently Manage Various Project Tasks is Expected to Drive the Growth of Field Service Management Solution in Construction and Real Estate Industry Vertical
9.7 Energy and Utilities
9.7.1 Increased Focus of Organizations to Take Proactive Measures Against Outages and Reduce Risks in Managing Critical Operations Projected to Drive the Adoption of Field Service Management Solutions in Energy and Utilities Industry Vertical
9.8 Others
10 Field Service Management Market By Region
For more information about this report visit https://www.researchandmarkets.com/r/fpddln
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