LONDON, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies!
According to The Business Research Company’s research on the field activity management market, increasing concentration on SaaS-based solutions has emerged as a key trend gaining popularity in the field activity management market. Software as a service (SaaS) is an abbreviation for a software distribution model in which a cloud provider hosts applications for quick access by end users. Major companies operating in the field activity management sector is incorporating SaaS-based solutions to effectively track and manage resources. For instance, in October 2021, Opsivity, Inc., an Australia-based field service management company, launched its SaaS-based services in the US market. Customers in the United States can now access Opsivity's SaaS-based solutions for real-time remote field support and management. Opsivity also leverages artificial intelligence (AI) and augmented reality (AR) to harness knowledge and share operational expertise across field teams in order to solve technical issues in real-time and increase productivity in industries that face labor shortages.
Request for a free sample of the global field activity management market report
The global field activity management market size is expected to grow from $0.94 billion in 2021 to $1.14 billion in 2022 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The field activity management market share is expected to grow to $2.12 billion in 2026 at a CAGR of 16.8%.
Increasing adoption of automation and digitalization is expected to propel the growth of the field activity management market going forward. Automation and digitalization are used to describe the use of digital technology to automate the execution of tasks at regular intervals. The advantages of integrating automation and digitalization in field activity management include optimal resource utilization, effective resource tracking, and monitoring, and lower operational costs. For instance, according to Manufacturing Today, an India-based manufacturing industry news magazine, it is estimated that by 2050, approximately 85-90% of manufacturing firms in India would adopt automation in operations. Furthermore, according to Windward Studios, a US-based reporting and document generation company for organizations of all sizes, by 2023, 40% of big enterprise I and O teams would embrace AI-augmented automation, boosting efficiency and scalability in IT departments. In addition, businesses are expected to employ 70% more automation architects by 2025 than they did in 2020, up from 20%. Therefore, increasing adoption of automation and digitalization is driving the growth of the field activity management market going forward.
Major players in the field activity management market are Bentley Systems Inc., Comarch SA, Corrata, The Environmental Systems Research Institute Inc, FastField Mobile Forms, Field Safe Solutions Inc., Fulcrum Digital Private Limited, IFS AB (Industrial and Financial Systems), Infor, Logistics Services Private Limited, Microsoft Corporation, Oracle Corporation, Overit S.p.A, Praxedo, Salesforce.Com India Private Limited., SAP AG, Servicemax Technologies (India) Private Limited., Webuild SPA, Thundermaps, Repsly Inc, ProntoForms Corporation, Canvas Solutions Inc, FieldWireLabs Inc, Fielda, Smart Service Software, SafetyCulture Pty Ltd., Fieldez Technologies Private Limited, and MobiLogix India Pvt Ltd.
The global field activity management market analysis is segmented by component into solution, services; by deployment mode into on-premises, cloud; by vertical into IT and telecom, healthcare and life sciences, manufacturing, BFSI, other verticals.
North America was the largest region in the field activity management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the field activity management market during the forecast period. The regions covered in the field activity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Field Activity Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide field activity management market forecast size and growth, field activity management market segments, field activity management market trends, field activity management market drivers and restraints, field activity management market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Not the market you are looking for? Check out some similar market intelligence reports:
Field Service Management Global Market Report 2022 – By Component (Solution, Services), By Deployment Type (On-Premise, Cloud), By Application (Energy And Utilities, Telecom, Manufacturing, Healthcare, BFSI, Construction And Real Estate, Transportation And Logistics) – Market Size, Trends, And Global Forecast 2022-2026
Field Device Management Global Market Report 2022 – By Offering (Hardware, Software), By Protocols (Foundation Fieldbus And HART, Profibus, Profinet, Modbus TCP/IP, Ethernet Or IP, Other Protocols), By Deployment Type Outlook (On-Premises, Cloud), By Industry (Process Industries, Discrete Industries) – Market Size, Trends, And Global Forecast 2022-2026
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
