The time and cost-effectiveness of field service management and other major driving factors is expected to favour the rise in the global field service management market
Reports and Insights has published a new report titled, “Field Service Management Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Field Service Management Market, By Component (Solution, Services), By Solutions (Schedule, Dispatch, and Route Optimisation, Customer Management, Work Order Management, Inventory Management, Service Contract Management, Reporting and Analytics, Other Solutions (Billing, Invoicing, Tracking and Performance Management)), By Services (Integration and implementation, Training and Support, Consulting), By Deployment type (On-Premise, Cloud), By Organization Size (Large Enterprises, SMEs), By Verticals (Telecom, IT and IteS, Healthcare and Life Sciences, Manufacturing, Construction and Real Estate, Transportation and Logistics, Energy and Utilities, Oil and Gas, Other Verticals (BFSI and Retail)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global field service management market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
In the brief form, field service can be understood as the only direct interaction of a company with its customer. In field service management, a worker is deployed from the organization to perform in-person service for a customer, ranging from performing maintenance for the machinery at a hospital fixing the cable connection at households. Thus, these kinds of services are believed to be crucial to show the loyalty and retention of the organization.
Field service management generally comprises deploying contractors and workers to sites out of the doors of organizations’ premises to set up, uphold or repair equipment, assets or systems. Field service managers maintain a trace of an organization’s field resources and harmonize the performance of field service workers who offer specialized, skilled, or proprietary services to end-consumers.
The numerous benefits of field service management system including increased uptime, reduced field service costs as well as increased customer satisfaction is majorly driving the demand of field service management all across the inutsires. Owing to which, the global field service management market is projected to rise significantly in the following years. In addition to that, the rising demand for automation and digitalization in the field service industry is further projected to offer major breakthroughs to the market growth in the near future. Other than that, the adoption of field service management by small and medium businesses all over the world is also offering lucrative opportunities for market growth in the coming years.