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3. Industrial and Financial Systems (IFS) AB (Sweden, Europe) and Microsoft Corporation (Washington, US) are the Major Players in the Cloud Field Service Management Market

The cloud Field Service Management (FSM) market is expected to grow from USD 1,013.2 Million in 2017 to USD 2,254.5 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 17.3%, owing to the existing market offerings and increasing focus on pricing and promotions.

The major players in the cloud FSM market include Industrial and Financial Systems (IFS) AB (Sweden, Europe), ServiceNow, Inc. (California, US), SAP SE (Germany, Europe), and Microsoft Corporation (Washington, US). These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, joint ventures and collaborations, and new product launches. Partnerships and new product launches are the 2 major strategies adopted by these players to achieve a strong foothold in the cloud FSM market.

IFS AB offers various cloud FSM solutions, including contact center, dynamic scheduling, mobile field service, service contract management, warranty management, spare parts management, service project management, and cloud deployment. In the recent years, the company has been focusing more on adopting different business strategies to offer innovative services to customers and enhance their experience. In July 2017, IFS launched “proof of concept” to reinvent the Field Service Management solution developed by IFS Lab. The new launch would develop integration between the IFS enterprise applications suite and Microsoft HoloLens, which in turn, would simplify the plotting of the assets that are being used. It would also enable service engineers to envision the holographic IFS software data on the HoloLens screen. Similarly, in April 2017, IFS launched a new version of IFS Field Service Management. The new version has the enhanced ability to offer a better customer experience through complete connectivity with field workers via embedded integration with IFS IoT Business Connector. The various benefits of this new version include enhanced functionality, intelligent field service, and advanced management.

Microsoft’s Dynamics 365 is a globally renowned solution for FSM. The company strongly follows the strategy of keeping its customers updated about the new launches and offerings. It provides updates on the evolving market trends, such as progressions in field service automation and management. Therefore, in the recent years, the company has undertaken various partnerships, collaborations, and acquisitions to expand its service offerings, increase the customer base, and provide innovative offerings to the customers. In August 2017, Microsoft and Halliburton collaborated to transform the oil and gas industry through digitalization. As per the collaboration, Halliburton would provide DecisionSpace 365 on Azure, which would facilitate real-time data streaming from interconnected mobile devices in oilfields. It would also provide deep learning capabilities for optimized drilling and production, leading to reduced costs for the customers. In September 2015, Microsoft acquired Adxstudio to leverage Adxstudio’s capabilities for offering enhanced customer engagement solutions with predictive, intelligent, and personalized experiences. Additionally, the acquisition would offer pre-built engagement solutions, including partner relationship management, for organizations.

The cloud FSM market research report analyzes the global adoption trends, future growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market.

Related Reports:

Cloud Field Service Management Market by Solution (Mobile Field Service Management, Scheduling and Dispatch), Service, Organization Size, Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Vertical, and Region - Global Forecast to 2022

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