FSM Market Forecast Revenue Growth Predicted by 2020-2030 | COVID-19 Effects

 

Overview:

The global report on the field service management (FSM) market predicts that the valuation of the market could rise to USD 8.93 billion during the forecast period of 2020 to 2030. Market Research Future (MRFR) talks in detail about factors like the rising demand for customer satisfaction, increasing digitization, the inclusion of automation, investment in research and development facilities, participation from various private companies, increasing use of smartphones and tablets, and others that can ensure a solid growth for the global FSM market. 

Segmentation:

The global report on the FSM market has been discussed by MRFR analysts to understand segments like component, deployment, organization size, and vertical. Data fetched from these segments reveal insights that can help in forming a better strategy.

By component, the FSM market includes solutions and services. The solution segment includes a study of the market on the basis of route planning, scheduling & dispatching, equipment management, mobile field service management, service contract management, inventory management, service history tracking, work order management, warranty management, billing & invoice, pre-voicing, and others. The service segment includes a proper segmentation of support & training, implementation, and consulting.

By deployment, the report on the FSM market includes an analysis of cloud and on-premise.

By organization size, the study of the global FSM market deals with SMEs and large enterprises.

By vertical, the FSM market includes a study of education, manufacturing, healthcare, IT& telecom, construction, retail, and others.

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Regional Analysis:

North America and Europe are two distinct regions that can benefit from the structural superiority, better flow of funds, advanced research facilities, tendency to adopt latest technologies, and others. Asia Pacific would benefit from the rising industrialization and the demand to set up a system to counter the COVID-19 crisis.

Competitive Landscape:

The global FSM market has been studied by MRFR analysts on the basis of the changes made by companies like Accurent (US), Capterra (US), Click Software (US), Acumatica Inc. (US), Astea International Inc. (US), IBM Corporation (US), Comarch SA (Poland), Field Aware(US), Infor (US), IFS (Sweden), Oracle Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Salesforce.com (US), OverIT (Italy), and others. The report includes the latest developments to understand how trends are ensuring changes in the market.

Industry News:

In September 2020, ServiceNow has announced that their new version of its Now Platform, code-named Paris, has editions that would serve telecommunications and financial services with great dexterity. It will also ensure a proper workflow for hardware asset management, business continuity, and legal services delivery.

The company is witnessing a strong growth from its attempts to automate enterprise workflows, digital transformation, and its management of COVID-19 back-to-work plans. Paris will also include customer service updates, along with field service management tools, Customer Central visualizations, and Playbooks for Customer Service Management.

In September 2020, KloudGin, a well-known company in the field of AI cloud-based service and asset management solutions, has invested in ServiceMax as a part of Series A funding. This news came out after the latter’s co-founder Mr. Athani revealed various details about it. 

The crisis related to the COVID-19 pandemic is bolstering the uptake of various digital systems to normalize the flow of lives across the world. Several end user industries have already installed systems that would support their digitization process and this is going to inspire the uptake of the FSM market.

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