Field Service Management Market Share

The field service management market was valued at usd 3 14 billion in 2019 and is expected to reach a value of usd 7 05 billion by 2025 registering a cagr of 14 44 during the forecast period from 2020 to 2025.

Field service management market share.

North america is the largest contributor to the market accounting for the largest share as it is a major centre for technological developments and early adoption of new technologies. Press release global field service management fsm market 2020 top countries data share scope stake trends industry size sales revenue growth opportunities and demand with competitive. 127 8 1 introduction 8 1 1 organization size. In 2018 north america accounted for the highest field service management market share due to the continuous advancements in it infrastructure and technology used for fsm presence of major number of market vendors and widescale adoption of mobility solutions enabling real time visibility into field operations contribute toward the field service management market growth in this region.

The global field service management market was estimated at almost usd 3 billion in 2019. The market is further expected to grow at a cagr of 16 during the forecast period of 2020 2025. Market drivers 8 2 organization size. Market synopsis of global field service management market market scenario field service management fsm is the process of managing the company s field operations by allocating them strategically for enhancing customer satisfaction and to maximize the productivity and efficiency of the company the increasing number of field.

The field service management market growth is also buoyed by the need of companies to meet the demands of customers for the best service and thereby increase customer satisfaction. The report field service management market by component solution service organization size smes large enterprises deployment type on premises cloud vertical energy and utilities manufacturing oil and gas and region global forecast to 2025 size is expected to grow from usd 3 0 billion in 2020 to usd 5 1 billion by 2025 at a compound annual growth rate cagr of 11 0. Covid 19 impact on market figure 22 small and medium sized enterprises to grow at a higher cagr during the forecast period table 118 market size by organization size 2014 2018 usd million. It is anticipated that the growing demand for mobility based alternatives to enhance real time visibility in field service activities along with the rising implementation of cloud based field service.

Companies are also looking to differentiate and personalize their services reduce workforce costs enhance employee productivity and improve overall operational efficiency. The fsm industry is witnessing mergers and acquisitions as a means of inorganic growth strategy amongst software development companies.