New ARC Advisory Group research on the Field Service Management (FSM) market reveals that several drivers have 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 management continues to be an important and growing market for organizations managing a wide range of assets, many that must be managed from afar. Consequently, capabilities such as remote monitoring and management, condition monitoring, and tools using IoT sensors and networks are critically important. Now, repairs can be made proactively, preventing and unplanned downtime and associated business disruptions. In addition to improved repair efficiencies and effectiveness, organizations can now deliver an outstanding customer experience and best-in-class customer satisfaction,” according to Ed O’Brien, Director of Research at ARC Advisory Group and key author of ARC’s Field Service Management Global Market Research report.
“While previously largely reactive, field service business processes are becoming more proactive. Also, many corporate field service organizations are changing from a cost center to a profit center business model. This requires a modern field service management solution, which is a key driver for continued growth in the market for both end users and suppliers,” added O’Brien.
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, service type, 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.