Worldwide Field Service Management Industry to 2025 - Featuring Husky Intelligence, IFS & Infor Among Others
DUBLIN, Oct. 29, 2020 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global field service management market is estimated to be USD 3.0 billion in 2020 and projected to reach USD 5.1 billion by 2025, at a CAGR of 11.0% during the forecast period.
COVID-19 Impact on Field Service Management Market
The COVID-19 virus has changed the way of working in the field service industry. Some customers may not want technicians visiting their homes during such a situation. According to a TPA they have experienced a 12 per cent decrease in daily call volume. Overall, calls for service are drastically declining. Many organizations have started limiting their calls to functional repairs only. Across the global field service industry, around 25% of issues require a follow-up visit. Apart from the massive cost that involves, in the current situation it's simply unsustainable. It's doubling the risk of COVID-19 exposure to both the technician and the customer. COVID-19 has been adversely affecting the field service management solution and services.
North America: Market Snapshot
Work order management segment to grow at the highest CAGR during the forecast period
The work order management solution enables clients to automate the service workflow process and increase the efficiency and productivity of the workforce. This solution helps field service representatives, office staff, and call center executives to manage work orders, job assignments, customer details, and service histories. Customer information, along with analytics, helps field service organizations gain insights into the customer's behavior and conduct marketing campaigns accordingly. The work order management solution empowers managers or dispatchers to schedule a job for a field service representative as per various criteria, such as availability, proximity, urgency, and level of expertise. It also helps service organizations minimize revenue leakage, increase the cash flow, and provide faster service delivery with enhanced quality.
Manufacturing vertical segment to account for the largest market size in 2020
The manufacturing vertical is transforming its business functions, such as integrating supply chains, product designing, inventory management, and product deliveries. This transformation is majorly due to the rising need for delivering quality products in time and adopting automation to engage employees in other business-critical tasks to meet the growing customer demands. This vertical faces various challenges, such as operational issues, timely product deliveries, resolving customer grievances, and managing capital and operational expenditure. These challenges need to be managed efficiently for enhancing customer satisfaction. Field service management solutions empower manufacturing organizations to make their business operations robust, efficient, and error-free. Moreover, these solutions provide organizations in the manufacturing vertical with several advantages, such as shorter billing cycles, enhanced customer satisfaction, increased productivity of business processes, and optimal utilization of the workforce.
SMEs segment to record the fastest growth rate during the forecast period
The adoption of field service management among SMEs is estimated to grow at the highest CAGR during the forecast period. In small companies, it is possible to match individual goals to larger business objectives. Small and medium enterprises face the greater challenge of limited budgets as compared to large enterprises, and require better methods to resolve complexities and optimize the cost of their business processes. SMEs have various problems while deploying field service management solutions, such as hiring a skilled workforce and requirement of IT infrastructure. SMEs use low-cost field service management solutions to remain competitive in the market. Hence, cloud deployment of field service management solutions is expected to have a higher adoption rate during the forecast period among SMEs
North America to account for the highest market share during the forecast period
North America is estimated to dominate the global field service management market due to the presence of a large number of data centers in the region and the rise in popularity of technology. North America, being the earliest adopter of cloud and mobile technologies, has been significantly responsive toward the adoption of field service management solutions. Advancements in BYOD, M2M, and mobile and cloud technologies are the major factors responsible for improving the efficiency of business processes. Hence, to derive benefits from these technologies, large enterprises are adopting field service management solutions rapidly. Additionally, the integration of field service management solutions with ERP enhances the features or capabilities of solutions. North America is expected to witness growth, as large enterprises and SMEs are focused on developing innovative field service management solutions, integrated with technological advancements, such as IoT and predictive maintenance. North America, being an early adopter of cloud and mobility technologies and having an advanced IT infrastructure, reduces operational expenditure through various advancements in technologies across various verticals.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Overview of the Field Service Management Market
4.2 North America: Market, by Vertical and Country
4.3 Asia Pacific: Market, by Vertical and Country
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising need for Mobility with Iot
5.2.1.2 Increasing need for Predictive Analytics
5.2.1.3 Increasing Adoption of Cloud-Based Applications
5.2.2 Restraints
5.2.2.1 Security Concerns of Organizations Related to Data Confidentiality
5.2.3 Opportunities
5.2.3.1 Emergence of Technologies, Such As Augmented Reality
5.2.3.2 New Sales Opportunities by Technicians and Crm
5.2.4 Challenges
5.2.4.1 Selecting Solutions that Align with Organizational Business Needs
5.2.4.2 Outbreak of Pandemics/Epidemics
5.3 Use Cases
5.3.1 Use Case 1: Castelan Group
5.3.2 Use Case 2: Auto Windscreens
5.3.3 Use Case 3: Viasat
6 Field Service Management Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.2 Component: COVID -19 Impact on Market
6.3 Solutions
6.3.1 Solutions: Market Drivers
6.3.2 Schedule, Dispatch, and Route Optimization
6.3.3 Customer Management
6.3.4 Work Order Management
6.3.5 Inventory Management
6.3.6 Service Contract Management
6.3.7 Reporting and Analytics
6.3.8 Other Solutions
6.4 Services
6.4.1 Services: Field Service Management Market Drivers
6.4.2 Consulting
6.4.3 Integration and Implementation
6.4.4 Training and Support
7 Field Service Management Market, by Deployment Type
7.1 Introduction
7.1.1 Deployment Type: Market Drivers
7.2 Deployment Type: COVID-19 Impact on Market
7.3 On-Premises
7.4 Cloud
8 Field Service Management Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.2 Organization Size: COVID-19 Impact on Market
8.3 Large Enterprises
8.4 Small and Medium-Sized Enterprises
9 Field Service Management Market, by Vertical
9.1 Introduction
9.1.1 Verticals: Market Drivers
9.2 Verticals: COVID-19 Impact on the Market
9.3 Telecom
9.4 it and Ites
9.5 Healthcare and Life Sciences
9.6 Manufacturing
9.7 Construction and Real Estate
9.8 Transportation and Logistics
9.9 Energy and Utilities
9.10 Oil and Gas
9.11 Other Verticals
10 Field Service Management Market, by Region
10.1 Introduction
10.2 Region: COVID-19 Impact on the Market
10.3 North America
10.3.1 North America: Market Drivers
10.3.2 United States
10.3.3 Canada
10.4 Europe
10.4.1 Europe: Field Service Management Market Drivers
10.4.2 United Kingdom
10.4.3 Germany
10.4.4 France
10.4.5 Rest of Europe
10.5 Asia Pacific
10.5.1 Asia Pacific: Field Service Management Market Drivers
10.5.2 China
10.5.3 India
10.5.4 Japan
10.5.5 Rest of Asia Pacific
10.6 Middle East and Africa
10.6.1 Middle East and Africa: Market Drivers
10.6.2 United Arab Emirates
10.6.3 Kingdom of Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East and Africa
10.7 Latin America
10.7.1 Latin America: Field Service Management Market Drivers
10.7.2 Brazil
10.7.3 Mexico
10.7.4 Argentina
10.7.5 Rest of Latin America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product/Solution Launches and Product Enhancements
11.2.2 Business Expansions
11.2.3 Acquisitions
11.2.4 Partnerships and Agreements
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
12 Company Profiles
12.1 Introduction
12.2 Oracle
12.3 Microsoft
12.4 Sap
12.5 Ifs
12.6 Servicemax
12.7 Salesforce
12.8 Infor
12.9 Trimble
12.10 Comarch
12.11 Servicepower
12.12 Overit
12.13 Fieldaware
12.14 Geoconcept
12.15 Zinier
12.16 Accruent
12.17 Praxedo
12.18 Fieldez
12.19 Fieldedge
12.20 Jobber
12.21 Servicetitan
12.22 Kickserv
12.23 Pega
12.24 Mhelpdesk
12.25 Skedulo
12.26 Housecall Pro
12.27 Apptivo
12.28 Service Fusion
12.29 Gospotcheck
12.30 Servicetrade
12.31 Commusoft
12.32 Servicebridge
12.33 Husky Intelligence
12.34 Smart Service
12.35 Field Pulse
12.36 Service Autopilot
12.37 Successware
12.38 Wintac
12.39 Workiz
12.40 Workwave
12.41 Right-To-Win
13 Adjacent Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/k9r5vz
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