During the forecast period, the global field service management market is anticipated to grow at a strong CAGR of 11.4%. By 2033, the market is anticipated to surpass the US$12.2 billion threshold. The valuation is anticipated to reach US$ 4.2 billion in 2023.
The following factors help the market expand:
Increased adoption of automation and digitization, as well as the growing demand for mobility to provide real-time visibility. The use of cloud-based field service management solutions is being pushed by the expanding demand for IoT and is anticipated to offer the industry significant future opportunities.
Field service management software installation has had a sizable impact.
The field service management market is a rapidly growing market that focuses on providing software solutions and services to manage and optimize field service operations. Field service management involves managing and coordinating field operations, including dispatching technicians, scheduling appointments, tracking work orders, and managing inventory and equipment.
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The market for field service management is driven by a growing demand for automation and optimization of field service operations. The market includes various software and service providers, including enterprise resource planning (ERP) providers, customer relationship management (CRM) providers, and specialized field service management software providers.
Key players focus on Strategic Alliance to drive Clean Energy Economy
The manufacturers operating in the market are entering into strategic partnerships with players from other niches. The idea is to curb carbon emissions and power the clean energy economy. Through this alliance, it is expected that electricity of more than 2.5 gigawatts might be generated by the usage of solar panels. In January 2023, Microsoft and Qcells announced a strategic collaboration to contain carbon emissions, and focus more on the renewable source of energy.
The field service management market is expected to continue to grow in the coming years, driven by increasing demand for automation and optimization of field service operations. The market is also expected to be driven by the growing adoption of mobile devices and the Internet of Things (IoT) technologies, which are expected to further improve field service operations and increase efficiency.
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Key developments in the market:
- In February 2023, Microsoft rolled out ChatGPT-powered Teams premium.
- In January 2023, Oracle and Red Hat expanded collaboration to bring Red Hat Enterprise Linux to Oracle cloud infrastructure.
Market Segmentation
By Organization Size:
- SMEs
- Large Enterprises
By Vertical:
- Telecom
- IT and ITES
- Healthcare and Life Sciences
- Manufacturing
- Construction and Real Estate
- Transportation and Logistics
- Energy Utilities
- Oil and Gas
- Others
By Deployment:
- On-premises
- Cloud
By Component:
- Solutions (Schedule, Dispatch, and Route Optimization, Customer Management, Work Order Management, Inventory Management, Service Contract Management, Reporting, and Analytics)
- Services (Integration and Implementation Services, Training and Support Services, Consulting Services)
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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Table of Content
1. Executive Summary | Field Service Management Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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