Field Service Management Market to Reach $10.81 Bn, Globally, by 2026 at 16.9% CAGR: Allied Market Research

- Requirement for tracking activities on the field and rise in adoption of digitalization & automation in the field services industry drive the global Field Service Management (FSM) market

PORTLAND, Oregon, April 7, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Field Service Management Market by Component (Solution and Service), Deployment (On-premise and Cloud), Organization Size (Large Enterprises and Small & Medium Sized Enterprises), and Industry Vertical (IT & Telecom, Healthcare & Life Sciences, Manufacturing, BFSI, Transportation & Logistics, Energy & Utilities, Construction and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global field service management market generated $3.12 billion in 2018, and is expected to reach $10.81 billion by 2026, registering a CAGR of 16.9% from 2019 to 2026.

Prime determinants of growth

Requirement for tracking activities on the field, demand for mobility to acquire real-time visibility, and rise in adoption of digitalization & automation in the field services industry drive the global field service management (FSM) market. However, lack of availability of skilled workforce for operating FSM hinders the market growth. On the other hand, integration of AI, AR, and VR in field services sector and surge in adoption of internet of things (IoT) present new pathways for market players.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2478

The solution segment to maintain its lead status throughout the forecast period

Based on component, the solution segment contributed to nearly three-fourths of the total share of the global field service management market in 2018, and is expected to maintain its lead status throughout the forecast period. This is attributed to requirement to automate manual field service business operations including dispatching, scheduling, routing, and fleet tracking. However, the service segment would portray the highest CAGR of 19.3% from 2019 to 2026, owing to efficient functioning of FSM software and platforms throughout the process and adoption of cloud-based FSM service.

The manufacturing segment to maintain its dominant position by 2026

Based on industry vertical, the manufacturing segment held the largest market share of the global field service management market, accounting for nearly one-fourth of the total market share in 2018, and is expected to maintain its dominant position by 2026. This is due to its extensive usage for managing field engineers, surge in demand for HAVC related use cases, and demand for equipment tracking and repairing solutions. However, the transportation & logistics segment would register the fastest CAGR of 19.2% from 2019 to 2026, owing to rise in utilization of vehicle fleet, reduced unloading time, enhanced ETA accuracy, and less vehicle maintenance cost.

For purchase enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2478

North America to maintain its leadership status during the forecast period

Based on region, North America accounted for the largest share in terms of revenue in 2018, holding more than one-third of the global field service management market, and is estimated to maintain its leadership status during the forecast period. This is due to rise in awareness regarding advanced FSM, adoption of cloud technology, and considerable adoption of mobility in the field service industry. However, Asia-Pacific is expected to witness the highest CAGR of 18.4% from 2019 to 2026, owing to adoption of automation in the field services industry, proliferation of mobile devices, rise in penetration of internet services, and advancements in the telecom industry.

Leading market players

• SAP SE
• Oracle
• SAS Institute
• Teradata
• Tibco
• Adobe
• Cisco
• IBM
• Tableau
• Sisense

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Risk Management Market Expected to Reach $ 18,504.2 Million by 2026

ERP Software Market Expected to Reach $78.40 billion by 2026

CRM Software Market - Global Opportunities and Industry Forecasts, 2020-2027

Enterprise Asset Management Market - Global Opportunities and Industry Forecasts, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States 
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg