Field Service Management (FSM) Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment Type (Cloud and On-Premises), By Organization Size (Small and Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-User (Manufacturing, IT and Telecommunications, Healthcare and Life Sciences, Energy and Utilities, Retail and Consumer Goods, Construction, and Others) and Regional Forecast, 2019-2026

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With the enlarged smartphone proliferation and the advent of IoT devices, there has been an increasing demand for technological solutions to manage mobile workforce and field service operations. Field service management is a software developed to coordinate field operations by keeping track of various components such as inventory management, scheduling, vehicle tracking, customer portals, and others. Field service management solutions enable businesses to reduce operational costs, gain control over workforce management, and accessibility to customer information. There has been a persistent demand for customer-centric solutions among various businesses, which has further elevated the need for field service management solutions. The number of field technicians is set to increase rapidly over the forecast period, promoting the need for efficient field service management solutions. The FSM tools are helping businesses to enhance the productivity of field technicians by incorporating algorithmically improved scheduling and providing real-time data from any device.

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Managing the field service team has always been a hectic and complicated task for businesses to establish communication between their employees and service customers. The growing demand for mobility solutions to gain real-time data from field operations and the rising implementation of cloud-based field service management solutions are some of the major factors driving the field service management market growth.

The field service industry has been witnessing tremendous growth across the industry verticals owing to the increasing demand for efficient and cost-effective solutions. With the continually evolving mobile infrastructure and availability of affordable Software-as-a-Service (SaaS) deployment options, FSM industry is likely to exhibit a remarkable growth over the forecast period.

MARKET DRIVERS

“Growing Demand for Solutions to Gain Real-Time Visibility in Field Operations to Boost Growth”

The demand for workforce management among businesses has been increasing over the past few years as field service teams are getting bigger. The real-time monitoring of field service technicians allows businesses to deploy the nearest technician to resolve and fix the customer’s problems in the first visit. Field service management solutions enable technicians to make better business decisions, deliver quick services to the customers, and efficiently manage field operations.

Service companies use field service management tools to streamline the process of capturing and dispatching service requests, thereby reducing the complexity of work with improved efficiency. With the help of field service management solutions, the right technicians can always be assigned to the right job, with improved tools and equipment and sufficient time to complete the task. It is vital for technicians to quickly and easily get an immediate exposure of information related to service, which allows them to gain access to the facility and ensures an enhanced customer experience.

“Integration of Connected Mobile Workforce Aid to Market Growth”

Businesses worldwide are constantly integrating advanced solutions into their existing infrastructure, creating opportunities to enhance connectivity and productivity. Companies are allowing technicians to use personal devices of their choice instead of providing them with handheld devices. It will reduce IT costs for an organization while making the efficient tools easily available for workers. The devices can quickly connect mobile workers to their colleagues working in the field, as well as experts performing assignments that can respond to technical questions, locate equipment, and perform other tasks quickly and effectively. It is, in turn, resulting in an increasing number of first-time fixes and fewer number of repeated visits.

FSM solutions backed by IoT connected devices allows organisation to equip their field technicians with required tools and inventory to fix the problem and complete the job in optimal time.

SEGMENTATION

By Component Analysis

“Services Segment to Hold the Largest Share Backed by Rising Automation in Field Operations”

Based on component, the market is classified into solutions and services.

The services segment is expected to hold the largest FSM market share in the coming years. Organizations are integrating field service management solutions to improve the work efficiency of field technicians, real-time tracking of workforce location, and automation in the field operations by eliminating manual tasks. In addition to this, the need for a central system for the management of field services, real-time collaboration and communication between field technicians at different places, and increased operational efficiency are likely to be responsible for the dominance of the solutions segment over the forecast period.

The services segment is expected to anticipate the highest growth in terms of CAGR during the forecast period. Key players are providing managed and professional services. The professional services are further classified into consulting, implementation, training and support.

By Deployment Type Analysis

“On-Premises Segment to Grow Considerably Owing to Need for Enhanced Productivity”

Based on deployment type, the market is classified into the cloud and on-premises.

The on-premises segment is expected to hold the largest market share during the forecast period. This type of deployment help businesses to increase productivity and overall performance. Enterprises are opting on-premises deployment due to the high volume of data that has to be accessed at the same time.

The adoption of cloud deployment of field service management is growing at significant CAGR during the forecast period, as it helps businesses to manage information in a secure, efficient, remotely accessible, and consolidated manner. In addition to this, the installation cost of cloud-deployment is comparatively lower than the conventional ways of deployment. Besides this, cloud deployment of FSM provides the highest level of data security and dependability.

By Organization Size Analysis

“SMEs Segment to Grow Steadily Stoked by Simplification in Field Services”

Based on organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises.

Small and medium-sized enterprises (SMEs) are in a constant race to remain competitive in the market by integrating automated processes and tools to efficiently manage their field staff and technicians, thus increasing productivity and visibility. In addition to this, increasing demand for field service management software for small business is expected to decrease operational costs and simplify field services thereby driving the market.

The implementation of field service management solutions among large enterprises is estimated to grow by showcasing significant CAGR during the forecast period. The implementation of field service management solutions among large enterprises would enable them to dispatch field technicians fast and to get a full view over their movement, manage contacts and projects, and give them a mobile service app to excel in the field.

By End-User Analysis

“Manufacturing Segment Will Grow Significantly Fueled by Demand for Cost-effective Customer Services”

By end-user, the field service management market is segmented into manufacturing, IT and telecommunications, healthcare and life sciences, energy and utilities, retail and consumer goods, construction, and others.

With manufacturers realizing the importance of delivering cost-effective and value additive customer services, FSM is one area that is receiving considerable attention. Field service offers direct customer interaction throughout the service life cycle, making it a priority for manufacturers to improve their customer relationships and enhance business efficiency. The application of field service management in the manufacturing sector is growing in recent years as the manufacturing companies are undergoing digital transformation. The FSM approach uses predictive maintenance and IoT to activate business activities and select the right field technician to carry out the work on-site in real-time through the integration of smart scheduling, dispatching, and optimized algorithms.

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Field service management continues to be the strategic solution for original equipment manufacturers (OEMs), as service companies are focusing on operationalizing customer engagement and improving the service life cycle. Integration of FSM provides manufacturers numerous applications such as contract and warranty management, customer engagement management, work order management, inventory, parts planning and logistics, workforce planning, and scheduling and routing.

Healthcare is one of the most significant industries in adopting field service management solutions for managing their business operations effectively. With FSM, medical providers will be able to improve patient care by minimizing identification and clinical errors to improve patient health. Healthcare companies are implementing field service management solutions to cater to the need of the right people, equipment, and medical supplies to manage daily operations better. FSM solutions eliminate paperwork from their daily workload, reducing the time required for administration, and spend it to take care of the patients.

Medical device manufacturers and healthcare companies are adopting FSM solutions for the management of numerous documents that must be signed and approved every day and hence, it helps in reducing the complexity and time required to search for the documents. FSM solution providers are helping healthcare companies by providing real-time consumer portal, which allows organizations to dispatch technician for timely servicing of medical devices, two-way communication channels, and schedule and route optimization.

REGIONAL ANALYSIS

The field service management market has been analyzed across five major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

North America is expected to hold the largest FSM market revenue in the forthcoming years. In 2018, North America generated a revenue of USD 785.6 million and is expected to reach up to USD 2,325.6 million by 2026.

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The growth in North America would occur mainly owing to the growing preference for enterprise mobility solutions and continuous focus to streamline field service teams and operations. The region is considered to be the hub for technological advancements and it houses major key players working on field service management solutions. Key players in North America are investing in research and development activities to offer efficient services to the customers, as well as to ensure that field service technicians are dispatched at the right time with the right tools to resolve customer problems. In addition to this, the increasing proliferation of IoT connected devices and smartphones is expected to contribute to the regional growth.

Asia Pacific outpaced the field service management market in terms of CAGR. The market growth in the region is mainly because of the rapid industrialization in countries such as China, Japan, and India. In addition to this, organizations in the region are shifting towards innovative ways to serve their customers, which has further elevated the demand for effective FSM solutions. With the continually growing manufacturing sector and a high client base, the region is expected to exhibit robust growth over the forecast period.

INDUSTRY KEY PLAYERS

“High Investment by Comarch SA, IFS, and Astea International Inc. to Strengthen their Market Position”

Comarch SA emerged as one of the prominent players in providing file service management solutions. Comarch’s FSM solutions include functionalities, such as mobile workforce management, orders and tasks management, automated scheduling, resource management, partner management, spare parts management, as well as reporting. The company is offering field service management solutions to various verticals such as financial services, healthcare & life sciences, retail, manufacturing, consumer goods, government, and transportation and hospitality. It’s FSM software is mainly developed for staffing, scheduling, and managing field force.

IFS also offers field service management software to manage teams of mobile technicians, including customer relationship management (CRM), mobile service, parts management, contract management, scheduling, and maintenance repair. The company’s IFS Metrix Service Management software includes advanced repair and service functionality, visualization enhancement, schedule board visualization, instant customer intelligence, and part availability mapping to serve customers profitably and is available on-premise and on the cloud.

LIST OF KEY COMPANIES COVERED:

• Oracle Corporation


• IFS


• ClickSoftware


• ServiceMax, Inc.


• Astea International Inc.


• Praxedo


• Infor


• Comarch SA


• OverIT


• FieldAware


• GEOCONCEPT SAS


• SAP SE


• Workfront, Inc.


• Zinier Inc.


• Accruen

REPORT COVERAGE

The report offers an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are macro and microeconomic factors, SWOT analysis, Porter’s five forces analysis, and key field service management industry trends, competitive landscape, and company profiles inclusive of recent industry developments such as mergers & acquisitions.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• March 2019 - Oracle launched Oracle Service Logistics Cloud, an end-to-end FSM solution that connects customer experience and field service in a single integrated platform. The cloud will enable industries to achieve a complete, enterprise-wide service solution, optimize parts logistics, and improve field service with seamless customer experience.


• February 2019 – IFS, a leading provider of field service management solutions, collaborated with PTC. This collaboration is aimed to provide best-in-class solutions for field service management for aerospace & defense vertical.