The market for service lifecycle management apps is anticipated to grow from US$ 1.6 billion to US$ 2.93 billion by the end of 2030. This is due to the forecast that the demand for service lifecycle management application solutions will increase at a CAGR of 7.9% between 2022 and 2030. Service lifecycle management apps will make up roughly 3% of the market for product lifecycle management applications globally in 2021.
Future Market Insights predicts that in the first half of 2022, the market for service lifecycle management applications will have a BPS value reduction of 50 units. (P).
The market for applications that manage the whole lifespan of a service, from original planning to post-sales support, is known as the “service lifecycle management application market.” Businesses utilize these applications to raise customer satisfaction, boost productivity, and cut expenses.
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Customer relationship management (CRM), field service management, warranty management, and asset management are just a few of the software options available in the service lifecycle management application market. Numerous sectors, including manufacturing, healthcare, telecommunications, and utilities, utilize these technologies.
A number of factors are driving the market, including the rising acceptance of cloud-based solutions, the rising demand for analytics and predictive maintenance, and the need for companies to enhance their customer experiences. The COVID-19 epidemic has also had a big impact on the market, causing many companies to turn to digital solutions and remote labor.
Competitive Landscape
- Service lifecycle management application solution providers are focusing on various strategies for increasing their investments in research and development to support future technologies. In addition, several companies are acquiring and entering into partnerships with other companies to enhance their solution offering and customer base.
- In September 2021, Tavant announced the expansion of its solution suite to enhance the service delivery experience, drive sustainability, and capture aftermarket lifetime value.
Key Players
- PTC Inc.
- Tech Mahindra Limited
- Wipro Limited
- Siemens AG
- Atos SE
- TCS Ltd.
- Oracle Corporation
- Astea International Inc.
- IBM Corporation
- Dassault Systems
- Tavant Technologies
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Service Lifecycle Management Application Industry Survey
Service Lifecycle Management Application Market by Software Type:
- Cloud-based Service Lifecycle Management Software
- Web-based Service Lifecycle Management Software
Service Lifecycle Management Application Market by Service-based Model:
- Field-based Service Lifecycle Management Models
- Depot-based Service Lifecycle Management Models
- Dealer-based Service Lifecycle Management Models
- Performance-based Service Lifecycle Management Models
Service Lifecycle Management Application Market by Solution:
- Customer Contact & Support
- Field Service Management
- Warranty & Service Management
- Service Parts Information Management
Service Lifecycle Management Application Market by End-use Industry:
- Automotive & Transportation
- Aerospace & Defense
- Medical Equipment
- High Technology
- Telecommunications
- Industrial Machineries & Equipment
Service Lifecycle Management Application Market by Region:
- North America Service Lifecycle Management Application Market
- Latin America Service Lifecycle Management Application Market
- Europe Service Lifecycle Management Application Market
- East Asia Service Lifecycle Management Application Market
- South Asia & Pacific Service Lifecycle Management Application Market
- Middle East and Africa Service Lifecycle Management Application Market
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