Field Service Management (FSM) Market Size & Forecast Report, 2014 - 2025

The global field service management (FSM) market size is expected to value at USD 4.1 billion by 2025. The market is subject to witness substantial growth due to the increasing number of field campaigns around various end-user businesses like the telecom sector, oil & gas industry, building & construction sector, and energy & utilities industry. Moreover, the growing demand for field service management solutions by numerous small & medium-sized enterprises (SMEs) is also anticipated to fuel the growth of the market over the forecast period.

Globally, the field service management market is predicted to grow at a CAGR of 10% in the forecast period, providing numerous opportunities for market players to invest in research and development in the market. Some of the important factors such as complex management of inventory, improved inventory cycle time, higher asset cost, higher collection cost and unpredictable data regarding the stock exchange, and higher cost of business operations, are driving market growth in recent years.

Field service management software allows fortification of the functions performed by the service sector thus enhancing overall profitability. Increasing adoption of handheld electronic devices, growing need for superior operational efficiency, and reduced functional cost are expected to fuel the growth of the field service management (FSM) industry in the upcoming years. Recent advancement in cloud services that allows the incorporation of cloud solutions onto the field service management software is further augmenting the market value of the field service management industry.

Growing competition in the market is expected to push industry players to further invest in the research & development of the field service management solution, offering innovative products and services, which in turn drive market growth over the next decade. Cloud security and numerous advantages over traditional platforms enable numerous organizations to opt for cloud-based field service management software.

The field services are considered as one of the fastest-growing segments in the field service management market with substantial revenue generation in the last couple of years. The growing popularity of the field services market segment is attributed to the increasing penetration of smartphones and tablets across the globe. Field service management solutions are highly compatible with advanced mobile operating systems, thereby propelling market expansion, in recent years.

Field service management software offers enhanced productivity that ultimately leads to an increase in overall profit. Furthermore, early adoption of the field service management software allows superior communication among the front office, management teams, and technicians. As operators and field laborers pass minimum time for synchronizing logistical tasks, they can spend more time on client work, thus increasing overall efficiency.

The introduction of technologies such as cloud solutions, big data, and modern analytics solutions is further offering lucrative opportunities for market players to develop innovative products in the field of service management solutions to gain a competitive edge in the market. An increasing number of cloud technology service providers are offering an advanced level of Field service management solutions to cater demands of small, medium-sized, and large enterprises, thus driving market growth over the forecast period.

The field service management industry is divided by region as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has shown major growth in recent years owing to the rise in the implementation of the latest technologies, rapid growth of the oil & gas and healthcare industries, and the existence of well-established IT infrastructure.

Asia-Pacific region is predicted to hold a major market share in the field service management market with massive growth in the forecast period. Countries such as India, China, and Japan are leading the Asia-Pacific market with rising in the number of end-user industries, an increase in the demand for optimized workflow, improved productivity, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the field service management industry are Accenture Inc., Comarch S.A., ClickSoftware Technologies Ltd., Infor Pvt. Ltd., Klugo Group Pvt. Ltd., SAP SE, Astea International Incorporations, Trimble Navigation Ltd., and Tech Mahindra Ltd.

Market Segment:

Field Service Management Solution Outlook (Revenue, USD Million; 2014 - 2025)
    • Mobile Field Execution
    • Service Contract Management
    • Warranty Management
    • Workforce Management
    • Customer Management
    • Inventory Management
    • Others

Field Service Management Deployment Outlook (Revenue, USD Million; 2014 - 2025)
    • On-premise
    • Cloud

Field Service Management Service Outlook (Revenue, USD Million; 2014 - 2025)
    • Implementation
    • Training & support
    • Consulting & advisory

Field Service Management Enterprise Outlook (Revenue, USD Million; 2014 - 2025)
    • Small & medium enterprises
    • Large enterprises

Field Service Management Application Outlook (Revenue, USD Million; 2014 - 2025)
    • Energy & Utilities
    • Telecom
    • Manufacturing
    • Healthcare
    • BFSI
    • Construction & Real Estate
    • Transportation & Logistics
    • Others

Field Service Management Regional Outlook (Revenue, USD Million; 2014 - 2025)
    • North America
        • the U.S.
        • Canada
    • Europe
        • the UK
        • Germany
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
    • Middle East & Africa