New York, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Field Activity Management Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372905/?utm_source=GNW
, 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 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 is expected to grow to $2.12 billion in 2026 at a CAGR of 16.8%.
The field activity management market includes revenues earned by entities by providing assigning and scheduling work orders services, dispatching workers assignments, communicating field workers, managing product inventory, and collecting data services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The field activity management solution consolidates and captures data related to mapping and scheduling, location data, and time and expense tracking on a single platform, allowing for more efficient asset utilization, visualization, tracking, and management. The field activity management is used for managing field activities, including physical assets, associated workforce, and equipment, through the use of software, workflows, and communication solutions.
North America was the largest region in the field activity management market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the field activity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of components in field activity management are solutions and services.The solution is used to allow employees at all levels of a company to interact with customers in novel ways and alter how managers approach customer service.
Solutions can assist businesses in developing a strong and loyal customer base, resulting in increased sales and revenue. The different deployment modes include on-premises and cloud that are employed in IT and telecom, healthcare and life sciences, manufacturing, BFSI, and other verticals.
Increasing adoption of automation and digitalization is expected to propel the growth of the field activity management market going forward.Automation and digitalization is 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.
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.
In August 2019, Salesforce Inc., a US-based cloud software company, acquired ClickSoftware Technologies for an amount of $1.35 billion. Through this acquisition, Salesforce expanded its service cloud software and improved its Field Service Lightning (FSL) product by incorporating ClickSoftware technology. ClickSoftware Technologies is a US-based field service management solution provider.
The countries covered in the field activity management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The field activity management market research report is one of a series of new reports that provides field activity management market statistics, including field activity management industry global market size, regional shares, competitors with a field activity management market share, detailed field activity management market segments, market trends and opportunities, and any further data you may need to thrive in the field activity management industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06372905/?utm_source=GNW
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