New ARC Advisory Group research on the Field Service Management (FSM) market reveals that several drivers converged to enable growth. OEMs are using IoT technologies to offer new value-added aftermarket services for their customers. Now, equipment issues can be identified prior to failure. Also, residential service providers are using field service management to better manage service from call center to service execution and billing. This controls costs and improves the customer’s overall service experience.
“Field service is at the cusp of a radical change in business processes with remote condition monitoring using IoT. Before, equipment would run until failure, which impacted production and revenue. Now, repairs can be made proactively, preventing the detested unplanned downtime. Improvements occur in customer satisfaction, net promoter score, and repeat orders,” according to Ralph Rio, Vice President, Enterprise Software, at ARC Advisory Group and key author of ARC’s Field Service Management Global Market Research 2018 - 2023 report.
“Field service is transitioning from reactive to proactive business processes. Also, many corporate field service organizations are changing from a cost center to a profit and loss center. These trends require a modern FSM solution, which continues to drive very high growth for the overall market and the suppliers,” added Ralph.
About the Field Service Management Research
This ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the field service management market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by industry, region, revenue category, sales channels, and customers.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) – personalized spreadsheet includes two years of historical data in addition to the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.