New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Field Service Management Global Market Report 2022" - https://www.reportlinker.com/p06244979/?utm_source=GNW
, Coresystems AG, IFS AB, Infor Inc., International Business Machines Corporation (IBM), Microsoft Corporation, Mize Inc., OverIT S.p.A, Praxedo, Salesforce, SAP SE, ServiceMax, Trimble Inc., Zinier Inc., ServicePower Inc., Oracle Corporation, Accenture, Cisco Systems and FieldEZ.
The global field service management market is expected to grow from $3.02 billion in 2021 to $3.64 billion in 2022 at a compound annual growth rate (CAGR) of 20.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.51 billion in 2026 at a CAGR of 15.7%.
The field service management market consists of the sales of field service management solutions and services by entities (organizations, sole traders, and partnerships) that refers to the practice of managing and optimizing an organization’s people, equipment, service, and operations in the field. Field service management includes tasks such as assigning and planning work orders, delivering workers to new tasks, interacting with field workers on the job, managing product inventory, and gathering data from the field.
The main types of components in field service management are solutions and services.The various services include consulting, training and support, and integration and implementation with third-party systems to boost the performance of the field service.
The different deployment modes include on-premise, cloud and is used in various applications such as energy and utilities, telecom, manufacturing, healthcare, BFSI, construction and real estate, transportation and logistics, among others.
North America was the largest region in the nutraceutical packaging market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing adoption of automation and digitalization is expected to propel the growth of the field service management market in the forecast period.Automation and digitalization are used for the automatic execution of tasks at a particular interval with the use of digital technology.
The advantages of adopting automation and digitalization in field service management are optimal utilization of resources, effective tracking and monitoring of resources, and lower operational costs.For instance, according to World Economic Forum, in 2020, 50% of business leaders are planning to accelerate the automation of repetitive tasks within their organization.
Therefore, the increasing demand for automation and digitalization drives the growth of the field service management market.
The increasing availability of SaaS solutions and value-added features is a key trend gaining popularity in the field service management market.Software as a service (SaaS) is an abbreviation that refers to a software distribution model in which a cloud provider hosts applications for simple access by end-users.
The advantages of SaaS solutions are ease of access, minimal setup time and customizability based on the requirements.SaaS solutions are widely incorporated in field service management to effectively track and manage resources.
For instance, in October 2021, Opsivity, Inc. an Australia-based field service management company launched its SaaS services in the US market. The US customers can now use Opsivity’s SaaS-based solutions for real-time remote field support.
In August 2019, Salesforce Inc., a US-based cloud software company acquired ClickSoftware Technologies for a deal amount of $1.35 billion. Through this acquisition, Salesforce Inc. increased the growth of its Service Cloud software and improved its Field Service Lightning (FSL) product by incorporating technology from ClickSoftware. ClickSoftware Technologies is a US-based field service management solution provider.
The countries covered in the field service management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244979/?utm_source=GNW
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