The global field service management (FSM) is the cloud based software mobile application used by various business organizations for coordinating field operation of business such as dispatching agents, scheduling service orders, job status and tracking vehicle locations etc. Global field service management market is estimated to grow with approx. 15.1% CAGR during the year 2016 – 2023. The key driver boosting growth in the global field service management market are increase in the demand for the mobile device across globe, technological development leading to opportunities for new business models and reduced operational costs. However, security concerns with respect to access to confidential data is hampering the growth of field service management market.
The global field service management market is segmented on the basis of service, vertical, deployment type and solution. On the basis of service field service management market is further sub divided into implementation, training and support and consulting. The field service management market is classified based on vertical which is sub-divided into transportation and logistics, energy and utilities, financial services, manufacturing, construction and real estate, healthcare, telecom and IT and others. Telecom and IT segment is expected to have the large market share during the forecast period (2016-2023). Companies from all over the world are going through field service in their existing product portfolios to raise their market shares. On the basis of deployment type, field service management market is sub segment into cloud and on premise. The cloud deployment mode is an attractive option for the providing FSM solutions, as it makes organizations to reduce their cost related to IT infrastructure and its maintenance. The solution segment is further sub divided into reporting and dashboards, mobile field execution, tracking and performance management, schedule and dispatch, work order management, billing and invoicing and inventory management.
Geographically, the global waste to energy market is bifurcated as North America, Europe, Asia Pacific and rest of the world. North America is leading region for field service management market and it is expected to the share large market size during forecast period (2016- 2023). The increasing technological advancement in the field of analytics, cloud, and introduction of Bring Your Own Device (BYOD) leads to the use of FSM in North America followed by Europe. Asia Pacific is the fastest growing region and anticipated to display the huge growth in the field service management market during the forecast period (2016-2023) due to rise in investment in IT and the increased focus on digital workplace transformation initiatives.