Resource management

Field Service Management Market – Need for Resource Management and Workflow Automation in Global Market

Transparency Market Research provides key insights into the global Field Service Management market. In terms of revenue, the global onsite service management market is expected to grow at a CAGR of 13.7% during the forecast period, due to many factors, about which TMR offers in-depth information and forecast in its report on the Global On-Site Service Management Market.

Field Service Management (FSM) is the resource management activity of a company, which typically includes sending contractors or workers to a location outside of company premises to install, repair or maintain equipment, assets or systems.

With the help of FSM software, Field Service Managers coordinate the work of Field Service Practitioners who provide exclusive services to clients and make efficient use of the organization’s field resources.

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On-site service management includes several activities such as on-site service planning, work order management, inventory management, on-site service contract management, tracking and performance management, and management schedules and expeditions.

In field service management, managing a team of service technicians is one of the most complex tasks. It includes many variables, which takes a considerable amount of time to keep up with unpredictable changes that might occur at any time. Thus, most organizations use advanced technology to streamline operations in order to manage field services effectively and efficiently.

Some advantages offered by field service management software are revenue growth, reduction of field service costs, increased uptime, better allocation and coordination of resources and increased satisfaction. customer. These factors are likely to propel the Field Service Management market during the forecast period.

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Field service management software helps businesses resolve customer issues quickly and improve the customer experience. He efficiently manages all field operations to enable better business decisions. Field Service Management provides real-time visibility into field operations, field strength and job status, and maintains sales and service efficiency. Field Service Management software efficiently manages inventory, tracks equipment, monitors field operations and deliveries, manages and monitors all field functions. It also offers the possibility of obtaining valuable business information that improves its performance and optimizes the business.

FieldEZ ​​Says Service Management App Delivers 34% Travel Savings, 10% Field Load Factor Improvement, and 46% Improvement in Work Assignment Efficiency .

Therefore, the multiple benefits associated with field operations, which provide a better customer experience as well as business sustainability, are leading to the adoption of field service management software in all businesses.

North America held a dominant share of the global on-site service management market in 2020. It is expected to grow at a CAGR of 12.8% during the forecast period. The demand for field service management in the region is primarily driven by the United States. The United States has more than half of the market share in the region.

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Europe follows North America in terms of revenue share in the global field service management market. The European market is expected to grow at a CAGR of 13.4%. The development and use of advanced technologies are stimulating the market in the region. The expansion of the manufacturing sector is expected to drive the adoption of connected and digital solutions, such as FSM software, in the near future.

The major players operating in the global field service management market are Salesforce, IFS AB, Microsoft, Oracle, SAP SE, ServiceMax, IBM Corporation, ServiceNow, ServicePower and Syncron AB.

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