The North America Field Service Management Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
Field service management solutions allow the appropriate implementation of business processes in organizations within the stipulated time period, leading to on-time service delivery, improved performance & customer satisfaction, and decreased operational costs. FSM is proved to be extremely helpful in the constantly changing business landscape. Due to the increase in flexibility requirements of personnel and customers, it becomes difficult to manage transport and logistics services. A modern system is required for Planning and cost-effective management of day-to-day changes and this system can enhance the visibility into the situation. An FSM system needs no deployment and operates on every device with an Internet connection. It is capable of handling working time monitoring, attachments, automatic two-way SMS notifications as well as email notifications, electronic signatures, and much more in real-time.
The inclination of software-as-a-service (SaaS) in comparison to conventional on-premise software would boost substantially over the forecast years, along with the surge in demand for superior and faster service. Several companies are moving towards cloud-based FSM solutions due to the integration of cloud computing in the field service management market. These solutions are reducing the burden of the IT department and enable the external service vendors to provide support and maintenance to their users.
North America is expected to obtain a significant revenue share of the field service management market during the forecasting period. As the region is home to some of the leading FSM vendors, the market is likely to witness lucrative growth opportunities during the forecasting period. Moreover, as the regional enterprises are experiencing various innovations and adopting advanced technologies, the demand & growth of field service management solutions are expected to increase in the regional market.
Due to the surge in R&D activities by the regional enterprises, the growth of the field service management market is likely to witness bright prospects over the upcoming years. The regional players are aiming to bolsters their service customer base across the region. The arrival of next-generation technologies like Chatbots, artificial intelligence, and IoT has supported the network of advanced technology-based service vendors across this region. Moreover, the regional companies are more willing to adopt field service management solutions, thereby boosting the growth of the regional market. Further, the region is home to some of the developed and sustainable countries. The region has well-built adequate IT infrastructure, thereby bolstering the demand & growth of field service management solutions in the regional market. Therefore, these factors are likely to open new avenues of growth for the regional field service management market during the forecasting period.
The US market dominated the North America Field Service Management Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $552.3 million by 2027. The Canada market is experiencing a CAGR of 14.5% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 13.5% during (2021 - 2027).
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. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Manufacturing, Transportation & Logistics, Construction & Real Estate, Healthcare, Telecom & IT, Energy & Utilities and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Field Service Management Market is Estimated to reach $7 Billion by 2027, at a CAGR of 11.5%
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).
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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