Field Service Management Market Size Worth $15.02 Billion By 2032 | CAGR: 13.2%

The global field service management market size is expected to reach USD 15.02 billion by 2032, according to a new study by Polaris Market Research. The report “Field Service Management Market Share, Size, Trends, Industry Analysis Report, By Component (Solution and Services); By Deployment; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing need for mobility for real-time visibility and monitoring   and rising adoption of FSM (Field Service Management) solutions by companies to improve their overall performance, provide better customer service, minimize labor costs, and enhance productivity, are prominent factors influencing the global market growth. Beside this, the rising proliferation among key players for developing advanced FSM solutions with enhanced capabilities and focus on integrating technologies like artificial intelligence and automation techniques, will also propel the market’s growth.

• For instance, in December 2023, FieldBin, unveiled its latest features to the field service management software. The new features include a PDF Engine, currency switching capabilities, stripe improvements for access management, and additional two-way SMS communications.

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The field service industry in being driven by continuous development and integration of technologies like cutting edge technology that help industries to drive a service paradigm of higher efficiency, & profitability with maximized device up-time. Additionally, the integration of tools allows technicians and vehicles to utilize a wealth of data and support them in the field, is gaining huge traction in the market.

Furthermore, there is an increasing trend among companies for leveraging AR and VR modules, as they allow new technicians to easily gain experience in a very simulated and low-risk environment. As customers demanding more convenience and self-sufficiency, leading field service companies are increasingly focusing on providing self-service tools like self-service appointment scheduling, customer self-service portals, and knowledge bases, to meet these growing demand and enhanced productivity. For instance, in October 2023, NetSuite, introduced its new series of product innovations to help organizations run more efficiently and reduce costs. This suite include new field service management and enterprise performance management solutions, helping professionals improve the speed of business processes.

Field Service Management Market Report Highlights

• Solution segment accounted for the largest share, due to rising adoption of efficient field service management solutions
• Cloud segment held the significant share, attributable to their numerous advantageous characteristics including better efficiency and higher space
• Manufacturing segment will grow at highest pace, on account of expansion of manufacturing sector and need to monitor their operations
• North America dominated the global market, owing to robust presence of leading market companies and greater adoption of FSM solutions
• The key market players include SAP SE, Tech Mahindra Limited, Astea International, Klugo Group, IBM Corporation, Comarch SA, Infor, and Oracle Corporation

Polaris Market Research has segmented the field service management market report based on component, deployment, end use, and region:

Field Service Management, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Solution
• Services

Field Service Management, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

• On-Premises
• Cloud

Field Service Management, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Energy & Utilities
• Telecom
• Manufacturing
• Healthcare
• BFSI
• Construction & Real Estate
• Transportation & Logistics
• Retail & Wholesale
• Others

Field Service Management, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Field Service Management Market Report Scope