Field Service Management (FSM) Market to Reach USD 8.06 Billion during 2021-2028; IFS AB Acquires Axios Systems to Expand Business Portfolio

The global field service management (FSM) market size was USD 2.87 billion in 2020. The market is projected to grow from USD 3.24 billion in 2021 to USD 8.06 billion in 2028 at a CAGR of 13.9% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Field Service Management (FSM) Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Application (Work Order Management, Schedule, Dispatch, and Route Optimization, Customer Management, Inventory Management, Service Contract Management, Reporting & Analytics, Others), By Deployment (Cloud, On-Premise), By Enterprise Size (Large Enterprises, Small & Medium Size Enterprises), By Vertical (BFSI, IT and Telecommunication, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics, Construction & Heavy Equipment, Energy & Utilities, and others), and Regional Forecast, 2021-2028.”

As per our expert analysts, the technologically progressive innovations in FSM are anticipated to fuel the market growth.

Progressive FSM Solutions to Endure Service Demand amid COVID-19 Pandemic

The sudden outburst of the COVID-19 pandemic has invited various obstacles and jeopardies for the field service industry. The drastic infliction of lockdown has impacted brutally to the on-site business operations. Therefore, the global COVID-19 somewhat has braked down the market growth during the year 2020.

Veolia Nordic Chooses ServiceMax for Digital Cloud Field Service Management

ServiceMax, who is a frontrunner in asset-centric field service management, declared that Veolia Nordic, which is part of the Veolia Group, the global forerunner in enhanced resource management for water, waste and energy management solutions, has designated ServiceMax’s field service management platform.

ServiceMax shall sustain the digitization of Veolia’s industrial services in the cloud, generating a cloud service execution platform for larger merger and knowledge sharing across business units as well as supplying mutual procedures to back supportable business growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/field-service-management-fsm-market-102215

Mobile Field Services to Transform Market Growth

The field service providers are the early adopters of mobile technology and today also, companies implementing mobile-enabled software are acquiring distinctive compensations. According to the Infographic HSO CRM report, approximately 49% of the company workforce depends on smartphones or handheld devices as the principal communication tools.

Collaborations among Companies to Secure Their Brand Values in Global Market

Crucial players in the market are incessantly rooting for efficient tactics to endorse their products and establish their positions in the market. One such tactic is to launch novel products by collaborating with additional companies to inflate their reach to end-users.

Industry Development

• June 2021: IFS AB procured IT service management supplier, U.K.-based Axios Systems to reinforce its FSM sector. Through its amalgamations, the company objectifies to offer instrumentation of its value chain and workflow.

List of Key Players Covered in this Market Report

• ServiceMax, Inc. (California, U.S.)
• Oracle Corporation (California, U.S.)
• IFS AB (Industrial and Financial Systems) (Linköping, Sweden)
• Salesforce.com, Inc (ClickSoftware) (California, U.S.)
• PRAXEDO (Paris, Ile de France)
• Infor, Inc. (New York, U.S.)
• Comarch SA (Kraków, Poland)
• OverIT S.p.A. (Fiume Veneto, Italy)
• FieldAware Group Ltd. (Texas, U.S.)
• GEOCONCEPT SAS (Bagneux, France)
• Mize, Inc (Telangana, India)
• Zinier, Inc. (California, U.S.)
• Sig Sauer, Inc. (Eckernförde, Germany)

Further Findings

Customer management to gain maximum market share owing to the growing focus on customer experience and retention.

North America held the maximum field service management market shares and is probable to lead the market owing to the rising inclination towards enterprise mobility solutions and constant emphasis to restructure field service teams and operations.

Table of Segmentation