NEW YORK, May 9, 2016 /PRNewswire/ -- "The need for a centralized system for the management of field services to drive the Field Service Management (FSM) market"
The FSM market size is estimated to grow from USD 1.97 billion in 2015 to USD 5.11 billion by 2020, at an estimated CAGR of 21.0%. The need for a centralized system for the management of field services, and the ever-evolving demand for increasing operational efficiency and reducing operational costs are the important driving factors fueling the growth of the FSM market.
"Schedule and dispatch to gain maximum traction during the forecast period"
The schedule and dispatch solution is estimated to contribute the largest market share during the forecast period. Furthermore, due to the need for quick service delivery to achieve improved customer experience, schedule & dispatch, and customer management solutions are expected to be the most prominent solutions among all the FSM solutions. In terms of services, implementation is the highest contributing services segment. Consulting services segment is expected to grow at the highest rate from 2015 to 2020. North America is expected to be largest revenue generating region followed by Europe whereas Asia-Pacific (APAC) and Middle East and Africa (MEA) are expected to be the emerging potential markets for FSM solutions and services.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people.
- By Company Type - Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation – C-level – 60%, Director-level – 25%, and other – 15%
- By Region –North America – 10%, Europe– 20%, Asia-Pacific - 40%, and ROW – 30%
As the need for post-sale services is evolving and so is the number of field service providers, the FSM market offers tremendous upcoming opportunities for growth in the next five years. With the developments and innovations in cloud and mobile technologies, huge opportunity lies for field service companies to adopt FSM solutions to increase their operational efficiency at reduced costs and achieve a high-level of customer satisfaction. Furthermore, the organizations are also turning toward consulting services for the deployment of the right FSM solution as per their business objectives, thereby making it the fastest-growing services segment.
The various key FSM vendors and service providers profiled in the report are as follows:
1. SAP SE
2. Oracle Corporation
3. IBM Corporation
4. ClickSoftware Technologies
5. Astea International
6. ServicePower Technologies Plc.
7. Trimble Navigation Limited
9. PTC, Inc.
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 different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, mergers and acquisitions.
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