Field Service Management Platform Global Market- Overview
The global field service management platform market is showing immense growth; mainly due to the emergence of cloud technologies and growing popularity of bring your own device (BYOD). Field service management platform refers to managing of company resources at the client end instead of managing it at the host end. Field services management Increasing need to maximize productivity of business processes and growing demand for an integrated, robust, and centralized system for field service management are major factors driving the growth of the market. According to a recent study report published by Market Research Future, The global market of field service management platform is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2018 – 2022).
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Cloud based deployment segment in field service management platform is expected to grow at the highest rate during the forecast period. This is owing to the increase in demand for cloud-based FSM solutions which offer flexibility, scalability, low cost, and real-time access to data, regardless of the location of the employees. Technological advancements and economic growth influence the industry dynamics. Also, increasing demand for field service management platform from medium and small enterprises is another major factor driving the market growth. The Field Service Management Platform Market is highly competitive due to the increase in cloud based technologies and increasing demand for mobility solutions for real-time visibility. On the other hand, lack of awareness and slow growth in the developing and under developed countries are some of the factors hindering the growth of field service management platform market. Also, security concerns with respect to access to confidential data, may hamper the market growth.
Market Segmentation:
The global Field Service Management Platform Market has been segmented on the basis of deployment, domain, and industry. Based on deployment, the FSM platform market is segmented into on-premise and on-cloud. Among these, the on-cloud deployment segment is anticipated to gain traction during the forecast period due to the increasing adoption of cloud-based solutions across a wide range of small to large-scale enterprises. The benefits provided by on-cloud FSM solutions such as scalability, flexibility, real-time access to data, and low cost are increasing the inclination of end-users towards the adoption of these solutions for maximizing productivity.
Based on domains, the FSM platform market is segmented into SMEs and large business units. Based on industry, the global FSM platform market is segmented into telecommunication, healthcare, manufacturing, transportation and logistics, oil and gas, and others. Among these, the healthcare industry segment is anticipated to project the fastest growth during the forecast period due to the increased adoption of FSM platforms by the players of the healthcare industry in order to sustain the strong competitive environment of the healthcare sector in developing countries.
Key Players:
The key players in the market of Field Service Management Platform Aare- Oracle Corporation (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Microsoft Corporation (U.S.), ClickSoftware Technologies (U.S.), Industrial & Financial Systems AB (Sweden), ServicePower Technologies PLC (U.K.), ServiceMax Inc. (U.S.), Infor (U.S.), and Astea International Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Field Service Management Platform Market.
Detailed Regional Analysis:
North America accounts for the largest market share in the global field service management platform market. The rapid evolution and technology, the presence of leading players of the global market and easy adoption of advanced technology are the major factors driving the field service management market in this region. The Europe region is considered to be the second largest market for FSM platform after North America. However, the Asia-Pacific region is anticipated to project the fastest growth in the global field service management platform market during the forecast period.
Industry News
September 2017 – ClickSoftware Technologies announces global reseller agreement with SAP, providing cloud-based field service management. The solution is available now and enables real-time, automated, context-based recommendations for service planning, scheduling, execution and analysis to support intelligent decision making.
October 2017 – NetSuite Astea International and Kobelco Systems Corporation partner to deliver comprehensive, IoT and AI-enabled field service management solutions. This next generation service platform now seamlessly merges the early warning capabilities of IoT and the diagnostic capabilities of AI with the broad capabilities of Astea Alliance to optimize the combination of remote, predictive and preventative maintenance activities.
September 2017 – Astea Unveils latest version of its alliance service management & mobile workforce platform, unifying the service-driven organization and connecting it to the service ecosystem. This release represents a major step in unifying and connecting all service stakeholders into one cohesive service ecosystem focused on delivering superior service outcomes for a company and its customers, both within and outside of an organization.
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Target Audience
- FSM Platform providers
- Cloud Service Providers
- Software Developers
- System Integrators
- Manufacturing Industry
- Government organizations
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