Global Field Service Management Market By Component (Solution and Services), By Deployment Type (On-premise and Hosted), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (Manufacturing, Transportation & Logistics, Construction & Real Estate, Healthcare, Telecom & IT, Energy & Utilities and Others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

Market Report Description

The Global Field Service Management Market size is expected to reach $7 billion by 2027, rising at a market growth of 11.5% CAGR during the forecast period. Field service management (FSM) refers to an automated system through which companies can simplify every process related to field operations. Vendors of field service can arrange the orders and send an ideal person to the right destination and monitor the vehicles with the help of field service software. FSM offers a host of benefits such as accessibility to customer information from any location, management of mobile workforce, enhanced productivity, reduced operational overheads, and fuel costs, and increased customer satisfaction.

With the help of field service management solutions, manufacturing organizations can make their business operations more streamlined, effective, and error-free. In addition, organizations are increasingly moving to these solutions in order to improve the quality of their products and services which eventually can cut down the time, cost, and efforts associated with product manufacturing and service delivery.

Using these solutions, companies can better manage the business operations such as monitoring of field service operations and repair activities, effective workload management, real-time monitoring of employee location, and automating field operations to abolish the need for the manual task. Additionally, these solutions are currently highly adopted by small and medium-sized enterprises, and hence propelling the growth & demand for these solutions in the global market.

Factors such as the high requirement to monitor activities happening in the field, growing demand for mobility for obtaining real-time visibility in field operations, and high adoption rate of automation & digitalization in the field services market are likely to boost the demand for these solutions over the forecast years. Moreover, the global market is expected to witness new avenues for growth due to the integration of modern technologies AI, VR, and AR in the field services, and the increasing adoption of IoT boost the adoption of cloud-based FSM solutions.

COVID-19 Impact Analysis

Companies around the world are witnessing many changes in the manner products and services are bought and sold due to the outbreak of the COVID-19 pandemic. Many surveys and studies organization, including large enterprises and SMEs, have expanded their marketing expenditure during and post the COVID-19 scenario. The technological ecosystem has been playing a major role around the world. Service vendors are under a massive burden to efficiently lead teams and comply with safety compliance during the pandemic situation.

As per the Harvard Business Review, the US average for organizational trust was 70% prior to the pandemic. Considering that tough situations aggravate fear and distrust, it becomes even more important at this juncture to develop confidence within the organization. Vendors are deploying different types of pricing strategies to sustain themselves in the highly competitive market, particularly after the pandemic. Due to technological developments, several software providers are deploying customer-centric pricing strategies.

Market Growth Factors:

Increasing demand for mobility for obtaining real-time visibility

The real-time tracking of the field service technicians can assist in the timely sending of the nearest technician to solve a problem. Additionally, it also gives crucial customer & case data and proper guidance to field technicians so that they can resolve issues of clients and enhance first-time fix rates. Rather than visiting the site, technicians can remotely restart a machine or install new software using mobility-powered field service management solutions.

The massive requirement to monitor activities happening in the field

There are a large number of field technicians working across the globe and this number would further increase during the forecasting period. Field service organizations are experiencing the requirement to ensure that every resource is precisely being utilized for the business purpose and workers/technicians working in the field are carrying out the allocated tasks effectively. The adoption of field service management software can bring easy monitoring of the progress and ensure time-bounded completion of the assigned jobs.

Market Restraining Factor:

Companies face various security concerns associated with data confidentiality

Servers behind corporate firewalls and security systems are the storehouse of the majority of field service data. On the other hand, devices that can access this data are not integrated with the required protection. Mobile devices brought by technicians to the job sites are susceptible to attacks, particularly if they are attached to unprotected Wi-Fi networks. The number of cyberattacks is directly proportional to the rate of digitalization.

Component Outlook

Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated across Schedule, Dispatch, & Route Optimization, Work Order Management, Inventory Management, Customer Management, Reporting & Analytics and Others. Field service management solutions are capable of streamlining time and attendance, workforce analytics, leave & absence management, and other solutions like fatigue management and task management that assist in streamlining several HR activities and analyzing data for core business processes. The demand for field service management solutions is significantly driven by factors like field service optimization, the advent of AR/VR in field-based and massive utilization of remote IoT connectivity in field-based verticals like energy and utilities, manufacturing, oil and gas, and construction & real estate.

Deployment Type Outlook

Based on Deployment Type, the market is segmented into On-premise and Hosted. The on-premise segment would obtain a major market size during the forecasting period. This is attributed to the security and flexibility offered by them while extracting data, as field service companies have to deal with confidential and private data with respect to customers and companies. These enterprises utilize on-premise field service management solutions to obtain complete control on information security regarding the customer and company.

Enterprise Size Outlook

Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The adoption rate of cloud-based solutions among small enterprises is directly proportional to the amount of awareness associated with the cloud. These enterprises are constantly growing and should increase their availability as they have a high degree of competition. Small and medium-sized enterprises have low budgets as compared to large enterprises and are constantly looking for ways to manage complexities and optimize the cost of their business processes.

End User Outlook

Based on End User, the market is segmented into Manufacturing, Transportation & Logistics, Construction & Real Estate, Healthcare, Telecom & IT, Energy & Utilities and Others. The manufacturing segment is expected to acquire a prominent revenue share during the forecasting period. The field service management for manufacturing companies is a thriving business. In order to reduce machine downtime, manufacturing companies are migrating to Industry 4.0 technologies that offer improvements, like intelligent predictive maintenance and IoT to find out abnormalities in machines and give real-time alert notifications.

Field Service Management Market Report Coverage

Report Attribute	Details
Market size value in 2020	USD 3.2 Billion
Market size forecast in 2027	USD 7 Billion
Base Year	2020
Historical Period	2017 to 2019
Forecast Period	2021 to 2027
Revenue Growth Rate	CAGR of 11.5% from 2021 to 2027
Number of Pages	380
Number of Tables	573
Report coverage	Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive landscape, Companies Strategic Developments, Company Profiling
Segments covered	Component, Deployment Type, Enterprise Size, End User, Region
Country scope	US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers	Increasing demand for mobility for obtaining real-time visibility The massive requirement to monitor activities happening in the field
Restraints	Companies face various security concerns associated with data confidentiality

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC would exhibit a promising growth rate during the forecasting period. The APAC is one of the digital hubs globally. Enterprises in this region have been quick to recognize the advantages of tech-enabled marketing solutions to accelerate digital transformation. Factors such as increased purchasing power of consumers, the surge in the number of business processes, increased internet penetration, emerging startups having budgetary constraints, and the rise in adoption of cloud technologies are responsible for the growth of this region.

Free Valuable Insights: Global Field Service Management Market size to reach USD 7 Billion by 2027

KBV Cardinal Matrix - Field Service Management Market Competition Analysis

The major strategies followed by the market participants are Partnership. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunners in the Field Service Management Market. Companies such as Oracle Corporation, Salesforce.com, Inc., Tata Consultancy Services Ltd. are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc., Tata Consultancy Services Ltd., Tech Mahindra Limited, Trimble, Inc., Comarch SA, and Infor, Inc. (Koch Industries).

Recent Strategies Deployed in Field Service Management Market

» Partnerships, Collaborations and Agreements:

• Sep-2021: Trimble entered into a partnership with Procter & Gamble, an American multinational consumer goods corporation. The partnership aimed to enhance the product offerings of Trimble. As a part of this partnership, Trimble would focus on developing an agile transportation procurement collaboration platform in order to support its current solutions related to the supply chain. In addition, the company would also use the supply chain expertise of Procter & Gamble to enhance the procurement process for shippers and carriers using technological developments.
• Sep-2021: Tata Consultancy Services formed a partnership with Avianca, one of the leading airlines in South America. The partnership aimed to boost the cloud transformation journey of Avianca. As a part of this partnership, TCS would harness its proprietary automation tools and accelerators to boost this transformation, decreasing this time-to-market and providing better business outcomes.
• Aug-2021: Red Hat has implemented SAP's Fieldglass Contingent Workforce Management application for streamlining and consolidating their external workforce program in North America by forming a partnership with Monument Consulting. Through this integration, SAP would enhance the visibility and value of its contingent workforce, assisting access to top talent, speed up hiring, and simplify on boarding, while decreasing costs.
• Jun-2021: Trimble partnered with Infotech, a leading vendor of infrastructure construction software solutions. The partnership aimed to integrate high-accuracy positioning and measurement capabilities of Infotech's Mobile Inspector Measure Service application with the Access field software of Trimble. Through this partnership, the two entities would offer inspectors a solution to utilize directly in the field, which would enable users to easily obtain the supporting geospatial data for measurements and minimizes data entry errors, which enhances field productivity and project delivery.
• Apr-2021: SAP extended its partnership with Siemens Digital Industries Software, an American computer software company. Through this partnership, the two entities would provide the latest solutions for the Service and Asset Lifecycle. Moreover, the companies would also provide the latest cloud-based services that can assist industrial equipment manufacturers to enhance critical asset operational efficiency, prevent unplanned downtime and reduce design cycles in asset engineering projects.
• Mar-2021: Tech Mahindra came into a partnership with ThoughtSpot, an artificial intelligence-driven analytics company. The partnership aimed to provide AI-driven analytics for enterprises around the world. Through this partnership, the two entities would empower companies to immediately analyse data in the same fashion as utilizing a consumer app, discover meaningful insights, and boost business actions.
• Feb-2021: IBM joined hands with Siemens and Red Hat. The collaboration aimed to provide an open, flexible and safer solution for manufacturers and plant operators to boost real-time value from operational data.
• Dec-2020: Tech Mahindra extended its partnership with SAP SE, a company that develops enterprise software to manage business operations and customer relations. Under this partnership, the customers would get advantages from increased implementation services, improved solution delivery, higher global access, and enhanced cost options in support of SAP applications.
• Oct-2020: Tata Consultancy Services teamed up with dotin, an Intelligent SaaS-based AI platform, helping enterprises in sourcing, screening, up skilling and engaging talent in real-time. The collaboration aimed to develop an advanced workplace experience solution named TCS Workforce Analytics. This solution would be an integrated system of insight, foresight, and engagement for employees as well as managers, which would apparently enable a better workforce experience and higher productivity.
• Jul-2020: Tata Consultancy Services (TCS) formed a partnership with Zinier, an artificial intelligence (AI)-based automation firm. Through this partnership, the two companies rolled out a digital solution with an aim to assist field service organizations in quickly adapting to unanticipated disruptions to crucial workforces and services to ensure business continuity.
• Jan-2020: Oracle formed a partnership with WorkForce Software, a leading global vendor of cloud-based workforce management solutions. The partnership aimed to shift the WorkForce Suite platform to the Oracle Cloud Infrastructure. As a part of Oracle PartnerNetwork (OPN), WorkForce Software is termed as Oracle Human Capital Management (HCM) Cloud preferred workforce management partner for customers with next-generation labor scheduling requirements in complex industries such as manufacturing, public sector, and retail.

» Acquisitions and Mergers:

• Jun-2021: IBM signed an agreement to acquire Turbonomic, an Application Resource Management (ARM) and Network Performance Management (NPM) software vendor based in Boston, MA. The acquisition aimed to offer enterprises complete stack application observability and management to improve performance and minimize costs with the help of AI to optimize resources like containers, VMs, servers, storage, networks, and databases.
• Feb-2020: Infor took over Intelligent InSites, a company that focuses on improving healthcare operations with location-based software and services. The acquisition aimed to empower Infor to provide an expanded offering of technology for healthcare organizations. The Intelligent InSites solution would support the Infor CloudSuite Healthcare footprint, allowing support across the continuum of care such as clinics, inpatient care, urgent care, procedural care, emergency departments, and behavioural health.
• Jan-2020: Trimble took over Kuebix, a leading transportation management system (TMS) provider. The acquisition aimed to enable Trimble to reduce technical glitches, allow actionable visibility, and enhance collaboration by providing a single logistics platform for every participant in the supply chain.

» Product Launches and Product Expansions:

• Aug-2021: Microsoft introduced updates in the Dynamics 365 Customer Voice survey. Through these updates, the company would enable administrators to integrate the Dynamics 365 Customer Voice survey into their Field Service customer experience portal as part of the Track my technician experience. The product would provide customers a natural step in their booking lifecycle after a completed service visit.
• Jun-2021: Oracle rolled out the latest solution named Oracle Dynamic Skills as a part of Oracle Fusion Cloud Human Capital Management (HCM). Through this launch, Oracle would assist companies to better understand, manage, and improve the skills of their workforce. Moreover, the solution would provide HR and business leaders the insights required to ensure they have a proficient workforce both now and in the future by offering an in-depth view of the skills within their workforce.
• Apr-2021: Microsoft unveiled the latest offerings in Microsoft Dynamics 365 Customer Service and Microsoft Dynamics 365 Field Service. Through this launch, the company aimed to transform customer service and field service. Moreover, these offerings offer the capability to adapt to shifting customer requirements, and simplify agent and technician workspaces, so they can solve problems rapidly.
• Apr-2021: Salesforce rolled out the next generation of Service Cloud. Through this launch, the company aimed to support shifting customer service expectations and offer connected, customized service from any place on one digital engagement platform.
• Apr-2021: Salesforce unveiled new capabilities in Salesforce Field Service. Through this launch, the company aimed to offer an effective solution to its Salesforce Field Service installation that involves the briefcase builder, appointment assistant, and point-to-point predictive routing.
• Feb-2021: Tech Mahindra launched Crime and Criminal Tracking Network & Systems (CCTNS) for Himachal Pradesh Police. Through this launch, the company aimed to simplify registrations of FIR, NCR (Non-Cognizable Report), Missing Report, MLC (Medico-Legal Cases) and Preventive Action, etc.
• Nov-2020: Tech Mahindra unveiled WORKSPACE NXT (Workplace as a Service), the new version of its advanced integrated digital workplace solution for enterprises around the globe. The digital workplace solution would integrate VMware, Intel, and Dell Technologies to allow safe and customized remote working experiences.
• Sep-2020: Salesforce introduced the next generation of Salesforce Field Service. Through this launch, the company aimed to provide teams across various industries with AI-powered tools to provide reliable, mission-critical field service. Moreover, Salesforce Field Service includes new appointment scheduling and optimization features, AI-driven guidance for dispatchers, asset performance insights, and automated customer communications, and all these aspects are essential to ensure jobs are done the first time, on time, every time.
• Jun-2020: Trimble rolled out a Hardware-as-a-Service option for its Transportation fleet mobility solutions. The latest service comprises four bundles, and every bundle is designed to assist fleets predictably manage technology expenses while getting access to the new innovations from Trimble, including 4G LTE connectivity and a smooth Android-powered user experience.
• May-2020: Digitate, a software company of Tata Consultancy Services (TCS), introduced ignio AI.Digital Workspace. Through this launch, the company aimed to offer end-user experience management software that assists employees and service desk teams to enhance productivity.

Scope of the Study

Market Segments Covered in the Report:

By Component

• Solution
  • Schedule, Dispatch, & Route Optimization
  • Work Order Management
  • Inventory Management
  • Customer Management
  • Reporting & Analytics
  • Others
• Services

By Deployment Type

• On-premise
• Hosted

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By End User

• Manufacturing
• Transportation & Logistics
• Construction & Real Estate
• Healthcare
• Telecom & IT
• Energy & Utilities
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Microsoft Corporation
• IBM Corporation
• SAP SE
• Oracle Corporation
• Salesforce.com, Inc.
• Tata Consultancy Services Ltd.
• Tech Mahindra Limited
• Trimble, Inc.
• Comarch SA
• Infor, Inc. (Koch Industries)