San Francisco, California, May 12, 2017: A new market research report by TMR Research presents a comprehensive overview of the field service management market. The report is titled “Field Service Management Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.” The research analysis provides insights into the key drivers and restraints, notable trends, emerging opportunities, and competitive landscape.
The research report offers an in-depth analysis of the product portfolio of major vendors and assesses recent technology advancements impacting adoption of field service management across various industries. The research evaluates the key industry initiatives toward integration of various products with big data analytics and connected technologies. The study takes a closer look at prominent developments in the cloud-based delivery model and IoT.
The market for field service management (FSM) is primarily driven by advances in automation technologies and innovative delivery models. The growing demand for real-time collaboration among mobile-based workforce has propelled the FSM market. The soaring demand for operational efficiency and cost-optimization across various industries is expected to boost the FSM market. FSM solutions are witnessing substantial uptake in areas such as the waste management, public sector transportation, telecommunications, gas utilities, healthcare, heating, ventilation and air conditioning (HVAC) industries. The rising demand for predictive maintenance in these industries has fuelled the demand for FSM solutions.
Various efforts aimed at integration of FSM solutions with big data analytics, the advent of scalable solutions, and recent advancements in sensor technologies are expected to propel the market. The lack of proper integration with back-end systems among a number of companies has negatively affected the implementation of FSM solutions, thereby hindering the market to an extent. The growing adoption of cost-effective cloud computing models such as software-as-a-service (SaaS), especially among small and medium scale enterprises, is expected to open up abundant opportunities for vendors and developers in the FSM market. Furthermore, the increased integration of FSM solutions with ERP software is likely to catalyze the market growth.
The Asia Pacific market for field service management is expected to provide ample opportunities for providers of field service management solutions. The impressive growth of the regional market is attributed to the rising demand for FSM solutions across various emerging regions. In addition, the soaring popularity of cloud-based models in developed countries, such as Singapore, is expected to boost the regional market. North America, led by the U.S., is a prominent market for field service management solutions. The regional market is mainly driven by constant product innovations and steady adoption of cloud-based service models for FSM solution.
Several providers are constantly offering scalable and flexible FSM solutions to gain a competitive edge over others. Leading players are actively marketing their offerings on various cloud computing models in order to consolidate their market shares. Some of the top companies operating in the field service management market are Oracle Corporation, SAP SE, Microsoft Corporation, Infor, IFS AB, IBM, Servicepower Technologies plc, Astea International, Inc., and ServiceMax.