The global cloud field service management (FSM) market is expected to be valued at US$ 2,340.0 Million in 2022, with a CAGR of 11.2% to be valued at US$ 6,752.0 Million from 2022 to 2032. The rising interest in more developed client care insight and client commitment is attributed to development. The bread roll blends market is expected to grow at a CAGR of 10.3% between 2016 and 2021.
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Ventures are implementing cloud field service management solutions to improve their functional cycles and address client issues without interruption. Because of the continuous rise in buyer spending patterns, cloud-based service management arrangements are widely used in the retail industry. Furthermore, small and medium-sized businesses are developing programmes on cloud field service management solutions to meet their business needs.
However, a lack of awareness of the functional viability and various advantages of the innovatively advanced frameworks is another variable that is expected to have a negative impact on the development of the cloud field service management (FSM) market over the forecast period.
Cloud Field Service Management (FSM) Market: Drivers and Restraints
Rising need to enhance enterprise operational productivity with minimised cost through cloud field service management solutions is turning to be the major driving factor of the cloud field service management market.
The enterprises are aiming to offer improved customer service experience and customer engagement by implementing these solutions, which is also turning to be a major factor contributing to the growth of cloud field service management (FSM) market. Moreover, the emergence of IoT technology will have a positive impact on the growth of Cloud field service management market.
Maintaining integration of existing Field Service management with cloud service management solutions is the major challenge faced by most of the vendors in cloud field service management (FSM) market.
Global Cloud Field Service Management (FSM) Market: Regional Outlook
On the basis of geography, Cloud Field Service Management (FSM) market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the Cloud Field Service Management (FSM) market in North America is expected to dominate during the forecast period owing to the increasing demand of efficient computing frameworks by small and medium size business enterprise. North America region is expected to be followed by Western Europe, and APAC.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Start-up-Scenario
BiznusSoft Field Service, NextService, Managemart.com, The Kantata Cloud for Professional Services, Binzusoft, and Smart serv are some of the startup companies operating in the cloud field service management market.
- In JUNE 2022 – Kantata closed its first-quarter operating as a new company following the successful merger of Mavenlink and Kimble Applications with strong results driven by the growth of its client roster.
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Global Cloud Field Service Management (FSM) Market: Competitive Landscape
Some of the key participants present in the global cloud field service management market include Salesforce.Com, Inc., SAP SE, Oracle Corporation, IBM Corporation, Servicemax Inc., Microsoft Corporation, Acumatica Inc., and Astea International Inc. among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Salesforce.Com, Inc., SAP SE, Oracle Corporation, IBM Corporation account for considerable market size, several regional level players are also operating across key growth regions.
- In April 2022 – ServiceMax, announced the release of new features for Asset 360 for Salesforce. It offers features that take the product beyond traditional field service personas, empowering strategic stakeholders like chief revenue officers and chief operating officers, as well as operational and commercial stakeholders in supply chain, sales, and marketing.
- In June 2022 – Commvault form a strategic partnership with Oracle to include Metallic DMaaS on Oracle Cloud. As part of Commvault’s multi-cloud strategy, Metallic’s industry-leading services will be offered on Oracle Cloud Infrastructure (OCI) and available in all commercial OCI regions globally.
Key Segments Profiled In The Cloud Field Service Management (FSM) Industry Survey
Cloud Field Service Management (FSM) Market by Component:
- Mobile Cloud Field Service Management
- Inventory Cloud Field Service Management
- Work Order Cloud Field Service Management
- Service Project Cloud Field Service Management
- Other Cloud Field Service Management Components
Cloud Field Service Management (FSM) Market by Services:
- Cloud Field Service Management Consulting Services
- Cloud Field Service Management Integration and Migration
- Cloud Field Service Management Support and Maintenance
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Cloud Field Service Management (FSM) Market by enterprise type:
- Cloud Field Service Management for Small and Medium Business Enterprises
- Cloud Field Service Management for Large Enterprises
Cloud Field Service Management (FSM) Market by Region:
- North America Cloud Field Service Management (FSM) Market
- Latin America Cloud Field Service Management (FSM) Market
- Europe Cloud Field Service Management (FSM) Market
- Asia Pacific Cloud Field Service Management (FSM) Market
- Middle East and Africa Cloud Field Service Management (FSM) Market
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