Global Field Service Management Market Size To Grow USD 25.26 Billion By 2030 | CAGR of 19.2%

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New York, United States , Jan. 19, 2023 (GLOBE NEWSWIRE) — The Global Field Service Management Market Size to grow from USD 5.2 billion in 2021 to USD 25.26 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period. The field service management market has grown because this system maintains the privacy and confidentiality of data and helps keep track of employees’ workflow. There are advancements in new technologies to help ease people’s field service management experience, which is expected to provide growth opportunities for the market during the forecast period.

Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.

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Some of the Key Developments:

In April 2021, as part of their latest Spring Release ’21 for Salesforce Field Service, Salesforce added features such as a briefcase builder, appointment assistants, and point-to-point predictive routing.

In July 2021, as part of its efforts to meet the challenges inherent in the energy industry, ServiceMax has signed a definitive agreement to acquire LiquidFrameworks.

Global Field Service Management Market Report Coverage

Report Coverage Details
Base Year: 2021
Market Size in 2021: USD 5.2 Billion
Forecast Period: 2021-2030
Forecast Period 2021-2030 CAGR: 19.2%
2030 Value Projection: USD 25.26 Billion
Historical Data for: 2017-2020
No. of Pages: 209
Tables, Charts & Figures: 129
Segments covered: By Component, By Deployment Mode, By Technology, By Region, COVID-19 Impact Analysis
Companies Covered: Microsoft, FieldAware, Oracle, Comarch, Service-Power, Connect My World, SAP, IFS AB, Zinier, Capterra, Core system AG, IBM Corporation, Acumatica Inc., and OverIT.
Pitfalls & Challenges: Due to the increasing number of COVID-19 cases

On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.

Browse key industry insights spread across 209 pages with 129 market data tables and figures & charts from the reportGlobal Field Service Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Services and Solutions) By Deployment Mode (On-Premises and Cloud-Based) By Technology (Route Management, Connected, Integrated Digital Systems and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents.

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The solutions segment to account for the largest market size during the forecast period

Based on the technology, the field service management market is categorized into suspensions, gels, spray solutions, ointment, solution and emulsion. The solutions segment to account for the largest market size during the forecast period. Customers can engage with business staff at all levels in new ways as well as managers can modify how they approach customer service with field service management solutions.

The on-premise segment to hold a higher CAGR during the forecast period

Based on the application, the field service management market is categorized into on-premises and cloud-based. The on-premise segment to hold a higher CAGR during the forecast period. A field service management company deals with confidential and sensitive information of their customers and different companies, which is taken care of by an on-premise field service management solution.

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The connected segment to hold a higher CAGR during the forecast period.

Based on the technology, the field service management market is categorized into route management, connected, integrated digital systems and others. The connected segment to hold a higher CAGR during the forecast period. A connected solution that allows real-time communication with colleagues allows customers to receive first-visit resolutions.

Asia Pacific to hold a higher CAGR during the forecast period.

The Global Field Service Management Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022.  Asia Pacific is expected to be the largest market. Artificial intelligence and cloud technologies are increasingly being adopted, internet penetration is high, and consumer spending is growing. Small-scale projects and e-commerce are also on the rise as a result of which the demand for field service management systems is increasing in the region.

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Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Field Service Management Market include Microsoft, FieldAware, Oracle, Comarch, Service-Power, Connect My World, SAP, IFS AB, Zinier, Capterra, Core system AG, IBM Corporation, Acumatica Inc., OverIT and others 20+ companies we are covered in the final report. 

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