Dublin, Aug. 06, 2019 (GLOBE NEWSWIRE) -- The "Field Service Management Market by Component (Solutions, Services), Organization Size, Deployment Type, Industry Vertical (IT and Telecom, Energy and Utilities, Manufacturing, Transportation and Logistics), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Field Service Management Market Size is Expected to Grow from USD 2.8 Billion in 2019 to USD 5.9 Billion by 2024, at a CAGR of 16.2% during the Forecast Period
Growing demand for mobility-based solutions to improve field service operations and maximizing the productivity of field service technicians with the help of advanced technology are expected to drive the growth of the field service management market.
The field service management market is driven by various factors, such as delivering prompt customer services, better communication between field representatives and customers, and enhanced efficiency of field technicians. However, security concerns related to data security can hinder the growth of the market.
Major vendors offering field service management solutions and services across the globe includes: Oracle (US); Microsoft (US); IFS (Sweden); ClickSoftware (US); ServiceMax (US); Astea (US); Comarch (Poland); SAP (Germany); Salesforce (US); Trimble (US); Infor (US); OverIT (Italy); ServicePower (US); FieldAware (US); GEOCONCEPT (France); FieldEZ (India); and Zinier (US).
The study includes an in-depth competitive analysis of these key players in the field service management market, with their company profiles, recent developments, and key market strategies.
The transportation and logistics segment is projected to grow at the highest CAGR during the forecast period
With time, many organizations have deployed a mix of technologies, computer systems, and different field service management solutions to cater to the growing demands of customers. Modern logistics is constantly moving forward, with enterprises trying to stay on top of the latest trends and technologies while satisfying customers.
With visibility on technician's movement, equipment and transactions, transportation and logistics enterprises can better perform field operations in real-time and improving operational efficiency. Many organizations are using mobile technologies to schedule shifts, plan capacity, and track the location of the people or goods in transit
The integration and implementation services segment expected to account for the largest share during the forecast period
Integration and implementation services provide ease to organizations in deploying field service management solutions. These services ensure organizations that applications would be integrated effortlessly with their internal and external systems, and they would get the most out of investments made on IT infrastructure. System integrators help enterprises understand the operational functionalities of their existing systems and establish reliable connectivity between data, people, applications, and devices for the growth of business revenue.
APAC expected to grow at the highest rate during the forecast period
The field service management market in APAC is expected to grow at the highest CAGR during the forecast period, due to the increase in demand for field service management solutions and services. These solutions enable an organization to fine-tune field service operations so that field technicians can perform assigned tasks with better accuracy and provide maximum satisfaction to customers. The APAC region is expected to experience extensive growth opportunities during the forecast period. Australia and New Zealand (ANZ), India, and China have emerged as undisputed leaders in the field service management market.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 North America Field Service Management Market, By Industry Vertical & Country
4.3 Market Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Mobility Solutions to Gain Real-Time Visibility Into Field Operations
5.2.1.2 Increasing Adoption of Cloud-Based Field Service Management Solutions
5.2.2 Restraints
5.2.2.1 Security Concerns of Organizations Related to Data Confidentiality
5.2.3 Opportunities
5.2.3.1 Maximizing Work Efficiencies With the Help of Advanced Technologies
5.2.3.2 New Sales Opportunities By Technicians
5.2.4 Challenges
5.2.4.1 Selecting the Right Solution That Aligns With the Organization's Business Needs
5.2.4.2 Offering Consistent Customer Service Experience
5.3 Industry Trends
5.3.1 Use Case 1: Viasat
5.3.2 Use Case 2: Orchard Manufacturing Corporation (OMC)
5.3.3 Use Case 3: BranDSMart USA
6 Field Service Management Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Schedule, Dispatch, and Route Optimization
6.2.1.1 Rise in Demand for Faster Delivery and Proactive Management of Service Requests is Expected to Drive the Growth of Schedule, Dispatch, and Route Optimization Solutions
6.2.2 Customer Management
6.2.2.1 Growing Focus of Organizations to Improve Customer Communication and Service Delivery is Expected to Drive the Growth of Customer Management Solutions
6.2.3 Work Order Management
6.2.3.1 Rise in Demand for Organizations to Efficiently Manage Work Orders and Improve Workforce Productivity is Expected to Drive the Growth of Work Order Management Solutions
6.2.4 Inventory Management
6.2.4.1 Growing Focus of Organizations to Manage Inventory and Improve Parts Replacement Process is Expected to Drive the Demand for Inventory Management Solutions
6.2.5 Service Contract Management
6.2.5.1 Increasing Automation of Contract Management and Renewal Process By Organizations is Expected to Drive the Growth of Service Contract Management Solutions
6.2.6 Reporting and Analytics
6.2.6.1 Need to Improve Field Service Operations With Real-Time Analysis of Information is Expected to Drive the Demand for Reporting and Analytics Solutions
6.2.7 Others
6.3 Services
6.3.1 Consulting
6.3.1.1 Need of Organizations to Identify the Right Set of Solutions Which Can Help Them Improve Their Field Service Operations is Expected to Drive the Growth of Consulting Services
6.3.2 Integration and Implementation
6.3.2.1 Efficient Deployment of Field Service Management Solutions Within Organizations' Systems is Expected to Drive the Growth of Integration and Implementation Services
6.3.3 Training and Support
6.3.3.1 Focus of Organizations to Improve Skills of Field Technicians is Expected to Drive the Growth of Training and Support Services
7 Field Service Management Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Growing Focus of Large Enterprise to Manage Their Extensive Field Operations to Drive the Adoption of Field Service Management Solutions Among Large Enterprises
7.3 Small and Medium-Sized Enterprises (SMES)
7.3.1 Need for Cost-Effective Solutions to Drive the Demand for Field Service Management Solutions Among Small and Medium-Sized Enterprises
8 Field Service Management Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Security Concerns Among Large Enterprises to Drive the Adoption of On-Premises Field Service Management Solutions
8.3 Cloud
8.3.1 Scalability and Cost-Effectiveness are Expected to Drive the Demand for Cloud-Based Field Service Management Solutions During the Forecast Period
9 Field Service Management Market By Industry Vertical
9.1 Introduction
9.2 IT and Telecom
9.2.1 Growing Need to Offer Best-In-Class Customer Experience Expected to Drive Adoption of Field Service Management Solutions in IT and Telecom Industry Vertical
9.3 Healthcare and Life Sciences
9.3.1 Need to Automate and Improve Complex Healthcare Services Expected to Drive the Demand for Field Service Management Solutions in Healthcare and Life Sciences Industry Vertical
9.4 Manufacturing
9.4.1 Rising Need to Streamline Product Manufacturing and Delivery Processes is Expected to Drive the Adoption of Field Service Management Solutions in Manufacturing Industry Vertical
9.5 Transportation and Logistics
9.5.1 Field Service Management Solutions Empower Enterprises in the Efficient Movement of People and Goods From One Location to Another
9.6 Construction and Real Estate
9.6.1 Demand for Highly Connected Environment to Efficiently Manage Various Project Tasks is Expected to Drive the Growth of Field Service Management Solution in Construction and Real Estate Industry Vertical
9.7 Energy and Utilities
9.7.1 Increased Focus of Organizations to Take Proactive Measures Against Outages and Reduce Risks in Managing Critical Operations Projected to Drive the Adoption of Field Service Management Solutions in Energy and Utilities Industry Vertical
9.8 Others
10 Field Service Management Market By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Automation of Field Service Operations to Improve First Fix Rate is Expected to Drive the US Market
10.2.2 Canada
10.2.2.1 Deployment of Cloud-Based Field Service Management Solution to Get Actionable Insights From Field Information to Fuel the Market Growth in Canada
10.3 Europe
10.3.1 UK
10.3.1.1 Ability to Measure and Analyze Various Field Service Operations to Drive the Adoption of Field Service Solution and Services in the UK
10.3.2 Germany
10.3.2.1 Developed Communication Infrastructure Expected to Propel the Market in Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 Australia and New Zealand (AnZ)
10.4.1.1 Need to Deliver Consistent Customer Service Experience to Drive the Adoption of Field Service Management Solutions in Australia and New Zealand
10.4.2 China
10.4.2.1 Growing Need Among Field Representatives to Adopt Smart Techniques to Fuel the Market Growth in China
10.4.3 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 South Africa
10.5.1.1 Increasing Need to Improve Various Field Service Operations is Expected to Drive the Growth of the Field Service Management Market in South Africa
10.5.2 UAE
10.5.2.1 Digitalization in Varied Industry Verticals Boosts the Adoption of Field Service Management Solutions and Services in the UAE
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Increasing Awareness of Organizations for Field Service Management Solutions to Improve Service Operations is Expected to Drive the Market Growth in Brazil
10.6.2 Mexico
10.6.2.1 Increased Productivity of Field Workforce Using Field Service Management Solutions to Boost the Market Growth in Mexico
10.6.3 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 IFS
12.5 ClickSoftware
12.6 ServiceMax
12.7 Astea
12.8 Comarch
12.9 Infor
12.10 Salesforce
12.11 SAP
12.12 Trimble
12.13 ServicePower
12.14 OverIT
12.15 FieldAware
12.16 FieldEZ
12.17 Zinier
12.18 GEOCONCEPT
For more information about this report visit https://www.researchandmarkets.com/r/wzwv2o
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