Field Activity Management Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By Deployment Mode (On-premises, Cloud); By Organization Size (SMEs, Large Enterprises); By vertical; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 120
- Format: PDF
- Report ID: PM2384
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global field activity management market was valued at USD 1.14 billion in 2021 and is expected to grow at a CAGR of 16.2% during the forecast period. Factors such as growth in the adoption of cloud-based solutions, the rising need to make informed decisions in enterprises, and an increase in data breaches are driving the market demand for field activity management solutions to boost market growth during the forecast period.
Know more about this report: request for sample pages
Field activity management solutions are increasingly being deployed in the cloud. The cloud-based deployment model provides advantages such as profitability, ease of deployment, and more flexible maintenance and control of field activity solutions. By supplying a consolidated platform, the cloud platform meets the needs of geographically diverse business units. Considering the high consumption of cloud solutions, vendors are increasingly concentrating on offering SaaS-based solutions that can help reduce costs and achieve greater returns on investments (RoI).
Further, the tremendous growth of technology results in the generation of a large amount of data, which increases the need for data storage and the speed with which it can be processed. Field activity management solutions have evolved almost in lockstep with technological advancement. Enterprises make critical decisions based on data generated by various field activity management services, such as time and attendance, leave and absence management, and working population scheduling. Also, data breaches have increased the market demand for ground activity management solutions, driving the field activity management market growth during the forecast period.
The Identity Theft Research Center (ITRC) reported 17 percent greater recorded data breaches in 2021 than in 2020. However, ground workers' reluctance to adopt automated solutions impedes market growth during the forecast period. Field activity management solutions may improve ground workforce efficiency, but the workforce at all levels often views them as an interrupting policing platform. They frequently believe that switching from manual methods to automated applications will deprive them of independence. This is one of the factors preventing ground workers in these regions from accepting ground activity management solutions.
Industry Dynamics
Growth Drivers
The major players have used various organic and inorganic growth strategies to drive field activity management market growth. For instance, in December 2021, Microsoft collaborated with Esri, to analyze image data recorded by the satellite providers in real-time. ArcGIS Image technology from Esri will be used to process and analyze imagery hosted in cloud solutions. So because the time between collection and delivery has been reduced, disaster responders now have quicker access to analysis to evaluate where massive, fast-burning fires are moving and increasing.
Further, in September 2021, Bentley Systems announced the acquisition of Minalytix, the development company of MX Deposit, with its Seequent business unit. Seequent's cloud expertise and mining solutions, including greenfield exploration, resource development, and mining production, will be expanded due to the acquisition. MX Deposit streamlines and controls the collection, management, and sharing of drilling and other ground data throughout a deposit's lifecycle.
Also, in November 2021, Bentley Systems declared a definitive contract to purchase Power Line Systems, a leader in an application for the design of overhead electricity transmission lines and their constructions, from private equity firm TA Associates for nearly USD 700 million. Thus, these collaborations, partnerships, and agreements among the key players boost field activity management market growth.
Know more about this report: request for sample pages
Report Segmentation
The market is primarily segmented based on component, deployment mode, organization size, vertical, and region.
|
By Component |
By Deployment Mode |
By Organization Size |
By Vertical |
By Region |
|
|
|
|
|
Know more about this report: request for sample pages
Insight by Vertical
Construction and real estate segment is expected to be the most significant revenue contributor in the ground activity management market over the forecast period. It is a huge responsibility to manage on-field technicians. It involves tasks such as keeping a detailed work log of workers on-site, scheduling tasks for them and their ground time is utilized correctly, and receiving real-time reporting from them.
Field activity management solutions provide advantages such as accurate equipment tracking, improved traceability, and enhanced customer communication through real-time notifications. Field activity management is crucial for ongoing property maintenance in the real estate service sector. More organizations utilize mobile computing to continue improving ground communication, boost productivity, streamline the working process, and enhance the customer experience and loyalty.
Geographic Overview
In terms of geography, North America had the largest revenue market share. In recent years, this has been dominated by large-scale enterprise deployments of the ground activity management solution. This region has been highly responsive to enterprise adoption of recent technological advancements, such as field activity, cloud computing, and IoT. The United States is a significant contributor across North America, as constant innovation and new technologies drive the U.S. market's growth. The use of ground activities and BYOD desires has increased the number of data breaches.
Moreover, Asia Pacific is expected to witness a high CAGR in the global ground activity management market. Due to the continuous economic growth, a rising young workforce, and the use of tablets and smartphones for commercial purposes, the Asia Pacific field activity management market is expected to witness robust growth over the coming years. The primary regional drivers are the rise in digital people, the growing infusion of automated processes at the workplace, and social programs to promote technology adoption.
Competitive Insight
Some of the major market players operating in the global ground activity management market include Bentley Systems, Comarch Sa, Corrata, ESRI, FastField, Field Safe Solutions, Forms On Fire, Fulcrum, IFS AB, INFOR, Logistrics Services, Microsoft, Oracle Corporation, Overit, Praxedo, Salesforce.Com, Inc, Sap Se, ServiceMax, Thundermaps, and Webuild.
Field Activity Management Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2021 |
USD 1.14 Billion |
|
Revenue forecast in 2030 |
USD 3.99 Billion |
|
CAGR |
16.2% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Component, By Deployment Mode, By Organization Size, By Vertical, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key Companies |
Bentley Systems, Comarch Sa, Corrata, ESRI, FastField, Field Safe Solutions, Forms On Fire, Fulcrum, IFS AB, INFOR, Logistrics Services, Microsoft, Oracle Corporation, Overit, Praxedo, Salesforce.Com, Inc, Sap Se, Servicemax, Thundermaps, and Webuild. |
© 2024 Polaris Market Research and Consulting. All rights reserved
