What Does the Historical and Current Field Service Management Market Size Trend Indicate?
The field service management market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the field service management market has seen quick expansion. The market size is expected to increase from $4.55 billion in 2024 to $5.15 billion in 2025, displaying a compound annual growth rate (CAGR) of 13.3%.
Factors such as demand for automation, escalated customer expectations, globalization, and the necessity to comply with regulations and standards contributed to this growth during the historic period.
How Will the Field Service Management Market Size Evolve over the Forecast Period?
The field service management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of field service management is anticipated to expand significantly in the following years, with an estimation to reach $9.07 billion by 2029, showcasing a compound annual growth rate (CAGR) of 15.2%.
This predicted growth during the forecast duration can be linked to a concentration on predictive maintenance, the upsurge of a mobile workforce, and wider cloud adoption. The period is likely to witness trends such as combining with ERP and CRM systems, a focus on data analytics, enhanced reality (AR) integration, a mobile-priority approach, blockchain for enhanced security, and subscription-based business models.
What Are The Core Factors Supporting Growth In The Field Service Management Market?
The surge in the utilization of automation and digitalization is projected to fuel the expansion of the field service management market in the anticipated timeframe. These technologies have profoundly impacted the automatic performance of duties at certain intervals utilizing digital systems. The benefits of embracing automation and digitalization in the field service management sector include maximized use of resources, efficient tracing and supervision of resources, and reduced operational expenses. For example, in September 2023, Cavintek Inc., a US organization specializing in workflow automation and productivity applications, found that over 80% of business executives were expediting work process automation and enhancing remote work use. By adopting automation technology, 43% of companies plan on reducing their workforce. As a result, the escalating demand for automation and digitalization sparks the growth of the field service management market.
What Are The Major Segments Within The Global Field Service Management Market?
The field service management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Type: On-Premise, Cloud
3) By Application: Energy And Utilities, Telecom, Manufacturing, Healthcare, BFSI, Construction And Real Estate, Transportation And Logistics, Other Applications
Subsegments:
1) By Solution: Field Service Management Software, Scheduling And Dispatching Solutions, Mobile Field Service Applications, Inventory Management Solutions, Customer Relationship Management (CRM) Integration, Analytics And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Which Trends Are Expected To Transform The Field Service Management Market?
Leading corporations involved in the field service management arena are leveraging technological novelties like AI-based scheduling and mobile apps to increase operational productivity and elevate service provision to field groups in a host of industries. Workiz Genius acts as an all-inclusive field service management system that aids businesses in the home services sector to streamline operations, oversee tasks, and augment communication between field teams and customers. For instance, the 'Genius', an intuitive AI-powered tool kit, was launched by the US software firm Workiz in March 2024. It has completely transformed the field service industry through its flawless merging of advanced technology and solutions that boost field service management experts by granting them a novel means of engaging with their clientele and administering their business through AI. It has the capability to adapt and learn overtime, evolving into a customized intelligent assistant that offers invaluable recommendations and insights, thereby empowering service professionals to concentrate on their areas of expertise.
Who Are the Key Players in the Field Service Management Market?
Major companies operating in the field service management market include:
• Accruent LLC
• Acumatica Inc.
• Comarch SA
• FieldAware Group Ltd.
• Geoconcept SAS
• Kirona Solutions Ltd.
• IFS AB
• International Business Machines Corporation
• Microsoft Corporation
• Mize Inc.
• OverIT S. p. A
• Praxedo SAS
• Salesforce. com Inc.
• SAP SE
• ServiceMax Inc.
• Trimble Inc.
• Zinier Inc.
• ServicePower Inc.
• Oracle Corporation
• Accenture plc.
• Cisco Systems Inc.
• FieldEZ Technologies Pvt Ltd
• ABB Ltd.
• Advanced Distribution Solutions Inc.
• AgileField LLC
• ServiceTitan Inc.
• ServiceNow Inc.
What Is The Most Dominant Region In The Field Service Management Market?
North America was the largest region in the field service management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the field service management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
