Portland, OR, April 16, 2020 (GLOBE NEWSWIRE) -- The global field service management market is anticipated to reach $10.81 billion by 2026 and is expected to grow at a CAGR of 16.9% from 2019 to 2026, reveals a latest research report published by Big Market Research.
The report offers a broad analysis of driving factors, growth opportunities, key segments, regional markets, and prominent companies of the field service management industry. Moreover, the regional competitive scenario is delineated in the report which is backed by leading market players, investors, and new entrants to determine developing economies. The in-depth insights offered in the report can assist market vendors to develop strategies for the future and make their position stronger in the global industry.
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According to the published research report, proliferation of mobile devices, increasing need for real-time visibility, and rising need for automation in field service operations are the major factors driving the growth of global field service management (FSM) market. In addition, rise in need to keep track of all the resources & activities of field services and shifting preference towards cloud technology are some other factors propelling the market growth. Moreover, growing adoption of IoT and integration of advanced technologies such as virtual & augmented reality and machine learning with the software for field service management is likely to create lucrative opportunities in the global industry. However, security concerns regarding data privacy and lack of skilled labors are predicted to be major threats for the market growth in the coming years.
Furthermore, research report provides detailed segmentation of the global filed service management market based on component, deployment, organization size, industry vertical, and region. Based on component, the market is categorized Solution (schedule, dispatch, and route optimization; work order management; customer management, inventory management, reporting, and analytics, service contract management, and others), and Services (Implementation & integration, consultancy services, and training & support). Depending on deployment, the industry is classified into on-premise and cloud. Based on organization size, the report bifurcates the market into small & medium-sized enterprises (SMEs) and large enterprises. Based on industry vertical, the report categorizes the industry into IT & telecom, manufacturing, healthcare & life sciences, BFSI, energy & utilities, transportation & logistics, construction, and others. On the basis of region, the report divides the market across Asia Pacific, Europe, LAMEA, and North America.
The key players listed in this report include:
• Oracle Corporation
• Salesforce.com Inc.
• IFS AB
• ServiceMax
• Microsoft
• OverIT
• Infor
• Praxedo
• Comarch SA
• SAP SE
In addition, the report offers an executive summary of R&D activities and recent product launches of each player in the market. This detailed information helps the market vendors to apprehend the competitive scenario and take notable steps to obtain major market share.
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The report clearly states that the field service management industry has accomplished significant growth since 2019. The market valuations showcased in the report have been a result of proven research methodologies and assumptions. As a result, the research report is a valuable source that offers information and analysis on every facet of the market. For more details on this report click on the link below.
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