Field Service Management Market

New Product Developments, Partnerships, Collaborations, Agreements, and Mergers and Acquisitions, to Achieve Growth in the Field Service Management Market.

Field Service Management solutions and services help enterprises manage their extensive resources, inventory, schedule, dispatch and route optimization of work, and billing and invoicing for the better management of field services. The Field service management market is expected to grow significantly, due to the expansive penetration of the mobile and cloud technology, along with automated scheduling with Machine to Machine (M2M) capabilities. Hence, the increasing adoption of mobile applications and wearable devices among field workers is expected to drive the growth of the field service management market. MarketsandMarkets forecasts the field service management market to grow from USD 2.56 Billion in 2018 to USD 5.08 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.

The major vendors in the field service management market include Accruent (US), Acumatica (US), Astea (US), ClickSoftware (US), Comarch (Poland), Connect My World (India), Coresystems (Switzerland),  FieldAware (US), GEOCONCEPT (France), IBM (US), IFS (Sweden), Infor (US), Jobber (Canada), Kickserv (US), Microsoft (US), Oracle (US), OverIT (Italy), Praxedo (France), Salesforce (US), SAP (Germany), ServiceMax (US), ServiceNow (US), ServicePower (UK), ServiceTitan (US), and ServiceTrade (US). These players have adopted various strategies, such as new product developments, partnerships, collaborations, agreements, and mergers and acquisitions, to achieve growth in the field service management market.

Microsoft is one of the major vendors in the field service management market. The company offers a wide range of solutions in the market and focuses on both inorganic and organic growth strategies to tap into the field service management market. For instance, in March 2016, Microsoft launched the Microsoft Dynamics AX to offer its customers a single solution that includes Enterprise Resource Planning (ERP), database services, and business intelligence. Moreover, in July 2015, Microsoft acquired FieldOne Systems LLC to facilitate its customers FieldOne Systems’ field service capabilities. This acquisition resulted in the integration of FieldOne Systems’ field service capabilities with Microsoft Dynamics CRM.

Salesforce is another major provider of the field service management solutions. The company caters to a wide clientele as well as organizations operating in automotive, financial services, life sciences, manufacturing, communications, healthcare, retail, media, and government through its innovative solutions. The company focuses on inorganic growth strategies to expand its portfolio and serve a large customer base worldwide. For instance, in July 2017, Salesforce introduced Einstein AI and Analytics platform, Field Service Lightning. It helps customers deliver a smarter on-site customer experience. In addition to this, Field Service Lightning provides field workers insights to improve their productivity and efficiency.

Related Reports:

Field Service Management Market by Solution (Schedule, Dispatch, and Route Optimization, Customer Management, and Work Order Management), Service, Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2023

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Report Code
TC 3048
Published ON
Apr, 2018
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