The field force automation market is on the rise, poised for substantial growth of approximately 17.4% in the coming years, with the goal of reaching an impressive market value of US$ 10,725.9 million by the year 2033. This means that companies and organizations are increasingly adopting and investing in technologies and solutions that streamline and enhance the efficiency of their field operations.
Major factors resulting in the expansion of the market are projected to be the growing mobile internet penetration, increasing focus on leveraging advanced technologies, the Internet of Things, and AI, among others.
The deepening penetration of connected appliances and the emergence of advanced technologies is predicted to propel the industry in the forecast period. Moreover, the rapid deployment of next-generation technologies like ML, cloud computing, robotics, and computer vision has resulted in the digital transformation of business entities.
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On the contrary, challenges associated with the growing number of cyberattacks are expected to hamper the market. Moreover, the field force automation service software consumes too much time during data entry. Also, they are difficult to accustom to software systems, which is yet another factor inhibiting the demand for field force automation services.
As per the analysis, the cloud segment is anticipated to expand at a CAGR of 16.8% during the forecast period. The expansion of the segment can be attributed to the growing preference for cloud-based field force applications. Developing nations such as India, China, and Japan are expected to make significant contributions to strengthen the market.
According to the analysis, the global field force automation market is expected to be dominated by the United States during the forecast period. The country is projected to register a value of US$ 2,563.49 million by 2033 while recording a CAGR of 17.3% during the forecast period.
Key Takeaways from the Field Force Automation Market Report:
- The global field force automation market is estimated at USD 10.1 Billion while recording a CAGR of 17.6% during the forecast period.
- The solution segment to expand at a CAGR of 16.6% from 2022 to 2032
- The cloud segment to record a 16.8% growth rate
- The U.S market to hold a market value of USD 3.5 Billion in 2032
- The U.K market to secure USD 433.4 Million during the forecast period
- The China market to garner USD 725 Million during the assessment period
Leading Key Players:
- ClickSoftware
- ServiceMax
- Oracle
- Microsoft
- Salesforce
- Others
Recent key developments among key players are:
- In April 2019, Trimble launched the Trimble PULSE Remote Expert. It is an Augmented Reality (AR) equipment that improved the productivity of field service workers by connecting them with experts via audio, video, and spatial annotations in real-time.
- In May 2019, Microsoft updated the capabilities of Dynamics 365 for Field Service. The update would allow the end customers to use IoT capabilities and enhance field productivity.
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Field Force Automation Industry Segmentation:
By Components:
- Solutions
- Services
By Deployment:
- On-premise
- Cloud
By Organization Size:
- SMEs
- Large Enterprises
By Vertical:
- IT and Telecom
- Healthcare and Life Sciences
- Manufacturing
- Transportation and Logistics
- Construction and Real Estate
- Energy and Utilities
- Other Verticals
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- Latin America
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