New York, Aug. 05, 2019 (GLOBE NEWSWIRE) -- The increasing interest in mobility solutions to streamline field operations is the key factor for the growth of the field service management market.
The global field service management market is forecast to reach USD 9.88 Billion by 2026, according to a new report by Reports and Data. Field service management (FSM) is a system which enables coordination on-field operations by mobile devices. It helps organizations to optimize their field service operations with higher profitability and customer satisfaction.
Field service management is an effective tool which integrates accounting, billing, service, and distribution processes, which in turn help organizations to gain maximum efficiency. Field service management solution offers several advantages that include real-time communication of work orders and status, work tracking, and customer originations and service history.
A modern field service management system offers the needed visibility, planning, and execution to achieve the primary goals for field service organizations. The key functional areas include mobility, service order management, financial management, parts materials management, labor skills management, asset information management, service contract management, and reporting.
The market is gaining traction, especially with the practice of delivering field services through contractors and third-party agents. Expansion of communication network infrastructure, growth in the preference of enterprise mobility solutions, and rising importance in transparency in field operations are driving the market for field service management.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global field service management market on the basis of component, organization size, deployment mode, vertical and region:
Component Outlook (Revenue, USD Billion; 2016-2026)
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
Deployment Mode Outlook (Revenue, USD Billion; 2016-2026)
Vertical Outlook (Revenue, USD Billion; 2016-2026)
Platform Outlook (Revenue, USD Million; 2018-2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
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