New ARC Advisory Group research on the Field Service Management (FSM) market reveals that several drivers are converging to drive growth. OEMs are using IoT technologies to offer new value-added aftermarket services for their customers. Equipment issues can now be identified prior to failure. Service providers are also using field service management to better manage their operations, from call center to service execution and billing. FSM controls costs and improves the customer’s overall service experience.
The field service management market is increasingly connected to, and dependent on, real-time information from the field to function efficiently and effectively. This need for interoperability with remote asset health monitoring systems is enabled by advancements in industrial networks, the Industrial Internet of Things (IIoT), multifunctional sensors, and edge devices.
"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. Capabilities such as remote monitoring and management, condition monitoring, and tools using IoT sensors and networks are critically important. Repairs can now be made proactively, reducing, and preventing unplanned downtime and associated business disruptions brought on by the pandemic and natural disasters. 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, Research Director and key author of ARC's Field Service Management Market Research Report.
Field Service Management Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Convergence of Customer Service and Field Service
- Mobility Improves Data Integrity and Usefulness
- Original Equipment Manufacturers (OEMs) Grow Services Business and Revenue with IoT
- SaaS is Displacing Perpetual Licenses
Leading Suppliers to the Field Service Management Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: IFS, Microsoft Dynamics 365 Field Service, Oracle, Salesforce, ServiceMax.
About the Field Service Management Research
The Field Service Management report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts and up to 3 years of historical analysis segmented by World Region, Industry, Revenue Category, Service Revenues by Type, Customer Tier, Customer Type, Sales Channel.
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:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a 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. Available with up to 3 years of historical analysis.
- Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.