Field Service Management (FSM) Market Growth at 21% CAGR to 2020 led by Schedule & Dispatch Solutions

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Apr 26, 2016, 08:30 ET

PUNE, India, April 26, 2016 /PRNewswire/ --

The field service management market (FSM) size is estimated to grow from $1.97 billion in 2015 to $5.11 billion by 2020, at an estimated CAGR of 21.0% driven by the need for a centralized system for the management of field services and the ever-evolving demand for increasing operational efficiency and reducing operational costs are the important driving factors fueling the growth of the FSM market.

Complete report on global field service management market spread across 187 pages, profiling 10 companies and supported with 71 tables and 72 figures is now available at http://www.rnrmarketresearch.com/field-service-management-market-by-solution-work-order-management-schedule-and-dispatch-inventory-management-by-service-by-deployment-type-cloud-and-on-premise-by-user-type-smbs-and-enterpr-market-report.html .

The schedule and dispatch solution is estimated to contribute the largest market share during the forecast period. Furthermore, due to the need for quick service delivery to achieve improved customer experience, schedule & dispatch, and customer management solutions are expected to be the most prominent solutions among all the FSM solutions. In terms of services, implementation is the highest contributing services segment. Consulting services segment is expected to grow at the highest rate from 2015 to 2020. North America is expected to be largest revenue generating region followed by Europe whereas Asia-Pacific (APAC) and Middle East and Africa (MEA) are expected to be the emerging potential markets for FSM solutions and services.

As the need for post-sale services is evolving and so is the number of field service providers, the field service management (FSM) market offers tremendous upcoming opportunities for growth in the next five years. With the developments and innovations in cloud and mobile technologies, huge opportunity lies for field service companies to adopt field service management (FSM) solutions to increase their operational efficiency at reduced costs and achieve a high-level of customer satisfaction. Furthermore, the organizations are also turning toward consulting services for the deployment of the right field service management (FSM) solution as per their business objectives, thereby making it the fastest-growing services segment.

The various key field service management (FSM) vendors and service providers profiled in the report such as SAP SE, Oracle Corporation, IBM Corporation, Click Software Technologies, Astea International, ServicePower Technologies Plc., Trimble Navigation Limited, IFS, PTC, Inc. and Infor. Order a copy of Field Service Management Market by Solution (Schedule and Dispatch, Work Order Management, Mobile Field Execution), by Service (Implementation, Training, Consulting), by Deployment Type, by User Type, by Industry Vertical & by Region - Global Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=256714 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (60%), Director Level (25%) and others (15%) from various key organizations operating in the global field service management market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%) and ROW (30%).

On a related note, another research on Enterprise Asset Management Market Global forecast to 2020 says, EAM market size is expected to grow from $2,903.7 Million in 2015 to $4,751.2 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 10.3%. North America, Europe, and Middle East and Africa have the highest EAM penetration. The major factors driving this market are the administration of aging infrastructure, improved return on assets and the ability to track assets. Companies like IBM, SAP, Oracle, ABB, Schneider Electric, Infor, CGI Group, Real Asset Management and Assetsworks have been profiled in this 162 pages research report available at http://www.rnrmarketresearch.com/enterprise-asset-management-market-by-software-applications-linear-assets-non-linear-assets-field-service-management-assets-mro-by-services-by-organization-size-by-verticals-government-util-market-report.html .

Explore more reports on the Information Technology & Telecommunication market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication .

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