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Field Service Management Market explores New Growth Opportunities by 2016-2024

Field Service Management Market
Field Service Management Market

Zion Market Research, the market research group announced the analysis report titled  Field Service Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016 – 2024

Global Field Service Management Market: Overview

A system designed to manage field operations by using mobile application or software is known as field service management (FSM). This software offers solutions to enterprises in order to manage field resources such as field worker activity, vehicle location, and make sure delivery of spare parts to the operational field. According to geographical location and skill of the field worker, field service management software assigns work and checks the availability of spare parts. Qualifier, administrator, agent, initiator, and dispatcher are included in this process. Entire data related to the business operation is managed by the administrator module; however, initiator module manages the order generated by customer and groups the work order. Work orders are qualified by the qualifier module and work order tasks are created. Later on, scheduling of the tasks is done with dispatcher module and a task to an appropriate employee is assigned. Actual task time is managed by agent module and performed work on the location. Field service management is utilized to integrate with backend systems such as HR systems, billing, and accounting.

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Global Field Service Management Market: Growth Factors

Growth in the field operations in various industries such as construction, oil & gas, and manufacturing is anticipated to drive the global field service management market growth. Organizations focusing on enhancing their operational efficiency may foster the global market growth in future. Field service management solutions are utilized to reduce operational costs, increase customer satisfaction and improve profitability, which contributes to the further growth of the global market. Increasing demand for advanced mobile applications coupled with cloud-based solutions may boost the global field service management market growth in a positive way. Conversely, high costs involved in the implementation of FSM solutions and data security concerns are the major restraining factors for the global market.

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Global Field Service Management Market: Segmentation

The global field service management market is divided based on the application as inventory management, schedule and tracking management, invoice management, and customer management. Based on service type, the global market is categorized as software as a service (SaaS), consultation, and managed services. Further, the global field service management market is classified on the basis of the end-use sector as energy, oil & gas, insurance, manufacturing, communication, logistics, and healthcare. Moreover, the global market is divided based on deployment type as cloud deployment and on-premise. The global field service management market is fragmented based on organization size as large sized organizations and small & medium sized enterprises.

Global Field Service Management Market: Regional Analysis

North America holds the largest market chunk in the global field service management market owing to increasing demand for operational cost reduction. Companies are focusing on expansion and enhancement of the field service management to meet increasing demand. Moreover, Asia Pacific is largest hub for field service management due to growing industrial networks such as manufacturing, oil & gas, and energy sector. Europe is another region that is highly adopting FSM solutions due to focus to enhance productivity.

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Global Field Service Management Market: Competitive Players

Major players operating in the global field service management market are Tata Consultancy Services Limited, Accenture PLC, International Business Machine (IBM) Corporation, Comarch, and ClickSoftware Technologies. Other players influencing the global market include Intac International LLC, ServiceMax Inc., Astea International Inc., SAP SE, and Trimble Navigation Limited.

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