According to the recent study the field service management market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 11% to 13% from 2023 to 2028. Growth in this market is primarily driven by increasing adoption of automation and digitalization in the field service industry, rising demand for real-time visibility of field service, and growing need to keep a track of activities taking place in the field.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in field service management market by component (solution and services), deployment (on-premises and cloud), enterprise size (large enterprises and SMEs), application (work order management, schedule, dispatch, and route optimization, customer management, inventory management, service contract management, reporting and analytics, and others), end use industry (BFSI, IT and telecom, healthcare and life sciences, manufacturing, transportation and logistics, construction and heavy equipment, energy and utilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Cloud market is expected to remain the largest segment during the forecast period.”
Based on deployment, the field service management market is segmented into on-premises and cloud. Lucintel forecasts that the cloud market is expected to remain the largest segment due to the rising use of cloud-based field service management due to advantages including lower maintenance costs, less physical infrastructure, and data accessible from any location at any time.
“Within the field service management market, the manufacturing segment is expected to remain the largest end use industry”
Based on end use industry the manufacturing segment is expected to witness the highest growth over the forecast period due to the growing usage of field service management among manufacturing organizations and increasing use of field service management as a kind of preventive maintenance in manufacturing operations.
“Asia pacific will dominate the field service management market in near future”
APAC will remain the largest region due to the rising number of start-ups focusing on developing FSM solution for enterprises, rising support from governments for the growth of small-scale enterprises which is driving the growth of the segment in the region, and growing demand for FSM among the large-scale industries across various countries such as Japan and India.
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Major players of field service management market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ServiceMax, Oracle Corporation, IFS AB,Salesforce.com, PRAXEDO, Infor, and Comarch SA are among the major field service management providers.
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