Field Service Management Market — Growing Need for Improved Efficiency

The global field service management market will exhibit of 14.1% CAGR and cross US$8693.6 mn by 2025. On the basis of Industry vertical, it is expected that the Telecom and IT industry vertical will lead. However it is the manufacturing segment which will expand at a rapid Pace. On the basis of usertype, this Market is segmented into small and medium Enterprises and large Enterprise.
In terms of solution, this Market is expected to be led by the work order management. substantial piece of growth is to be expected for the inventory management segment. In terms of service, this Market is segmented into training and support, implementation, and Consulting. On the basis of deployment, the market is segmented into on premise and cloud.
The global field service management market is segmented on the basis of solution, service, deployment type, user type and industry vertical. On the basis of solution, the market is segmented into billing and invoicing, inventory management, mobile field execution, reporting and dashboards, schedule and dispatch, tracking and performance management, and work order management.
The work order management sub-segment is expected to hold a major share of the market while inventory management is anticipated to grow at a substantial pace. On the basis of service, the market is segmented into consulting, implementation, and training and support. On the basis of deployment type, the market is segmented into cloud and on-premise. Based on user type, the market is segmented into small and medium enterprise (SME) and large enterprise.
On the basis of industry vertical, the market is segmented into BFSI, construction and real estate, energy and utilities, healthcare, manufacturing, telecom and IT, transportation and logistics, and others. The market on the basis of industry vertical is expected to be dominated by telecom and IT while manufacturing sub-segment is projected to grow at rapid pace.
Major players in the field service management market include Oracle Corporation, SAP SE, ClickSoftware Technologies Ltd., Astea International Inc., Coresystems AG and IFS AB (Industrial and Financial Systems). Other prominent players in the field service management market are Microsoft Corporation, Praxedo, Retriever Communications Pty Ltd. and ServiceMax, Inc.

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