The
global Field Service Management (FSM) Market is expected
to reach USD 4.16 billion by 2025, according to a new report conducted by Grand
View Research, Inc. Various other factors such as improper management of
inventory, increased inventory cycle time, increased holding cost, increased
ordering cost and incorrect information about the stock further increase the
cost of business operations. FSM software helps to fortify the functionality of
the service industry while improving overall profitability.
The
main forces which are driving the market include the increase in number of
field operations across manufacturing, oil & gas and construction sector.,
increase in the use of smartphone devices, and rising demand for better
organizational efficiency and reduced cost of operations. The advancement of
cloud services, supports the integration of cloud to the FSM software. This is
expected to surge the FSM market growth over the next nine years. Over the
forecast period, most of the end use industries are expected to deploy the FSM
software on the cloud rather than on the premise.
The
global field service management market is anticipated to witness a high growth
over the forecast period. The high presence of smartphones and tablets are
playing an important role in the overall growth of the FSM industry globally.
FSM solutions are also compatible with next generation smartphone operating
systems, further boosting their importance across the competitive landscape.
Browse
Details of Report @
http://www.grandviewresearch.com/industry-analysis/field-service-management-market
http://www.grandviewresearch.com/industry-analysis/field-service-management-market
Further key findings from the report suggest:
- The mobile
field execution solution provided by the FSM software is the most
preferred solution by the end use industries which helps in execution and
maintenance of field work by technicians, reporting status, receiving
alerts, gain visibility to individual performance.
- Most of the
end use industries such as utilities, healthcare, IT among others are
moving from on-premise deployment to cloud deployment of the FSM software
as it enables faster deployment speeds and reduces upfront costs.
- As compared
to the small and medium enterprises, the large enterprises are
increasingly adopting the FSM software for the management of large on
field technicians and employees who work on field.
- The FSM
software is being increasingly adopted across the construction industry
due to the rapid industrialization and increasing population particularly
in developing countries such as China and India.
- The FSM
market is in the developing stage in the regions of Asia-Pacific, Middle
East & Africa, and Latin America due to their increase in investment
in IT sector and increased focus on digital workplace transformation
initiatives.
- The key
purveyors in this industry comprise Accenture, Cisco Systems, Astea
International, Inc., Comarch, ClickSoftware Technologies, Klugo, Infor,
SAP, ServiceMax, Trimble Navigation Limited, among others.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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