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The Business Research Company's Field Service Management Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, November 4, 2024 /EINPresswire.com/ -- The field service management market has experienced significant growth in recent years. It is projected to rise from $4.06 billion in 2023 to $4.65 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14.5%. This growth during the historical period can be attributed to factors such as the demand for automation, increasing customer expectations, globalization, and compliance with regulations.

What Is The Estimated Market Size Of The Global Field Service Management Market And Its Annual Growth Rate?
The field service management market is anticipated to experience rapid growth in the coming years. It is expected to reach $7.84 billion by 2028, with a compound annual growth rate (CAGR) of 14.0%. This growth during the forecast period can be attributed to a focus on predictive maintenance, the rise of the mobile workforce, and increased cloud adoption.

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Growth Driver Of The Field Service Management Market
The growing adoption of automation and digitalization is expected to drive the growth of the field service management market during the forecast period. Automation and digitalization involve the automatic execution of tasks at specific intervals using digital technology. The benefits of implementing automation and digitalization in field service management include optimal resource utilization, effective tracking and monitoring of resources, and reduced operational costs.

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Who Are The Key Players Shaping The Field Service Management Market Trends?
Key players in the market include Accruent LLC, Acumatica Inc., Astea International Inc., ClickSoftware Technologies Ltd., Comarch SA, FieldAware Group Ltd., Geoconcept SAS, Kirona Solutions Ltd., Coresystems AG, IFS AB, Infor Inc., International Business Machines Corporation, Microsoft Corporation, Mize Inc., OverIT S. p. A, Praxedo SAS, Salesforce. com Inc., SAP SE, ServiceMax Inc., Trimble Inc., Zinier Inc., ServicePower Inc., Oracle Corporation, Accenture plc., Cisco Systems Inc., FieldEZ Technologies Pvt Ltd, ABB Ltd., Advanced Distribution Solutions Inc., AgileField LLC, ServiceTitan Inc., ServiceNow Inc.

What Are The Dominant Trends In Field Service Management Market Growth?
Key companies in the field service management market are prioritizing the development of innovative products, including mobile applications for field service management, to better cater to the needs of their existing customers. A field service management smartphone app is a software solution designed to help field service companies manage their operations and personnel through the use of mobile devices like smartphones and tablets.

How Is The Global Field Service Management Market Segmented?
1) By Component: Solution, Services
2) By Deployment Type: On-Premise, Cloud
3) By Application: Energy And Utilities, Telecom, Manufacturing, Healthcare, BFSI, Construction And Real Estate, Transportation And Logistics, Other Applications

Geographical Insights: North America Leading The Field Service Management Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Field Service Management Market Definition
Field service management (FSM) is a system designed to oversee remote workers and the resources necessary for a company to operate efficiently. FSM enables businesses to manage all resources involved in field service activities effectively. It assists technicians in processing job orders, tracking service and repair tasks, automating scheduling and dispatch, managing customer service contracts, collecting payments, and more.

Field Service Management Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global field service management market report covering trends, opportunities, strategies, and more
The Field Service Management Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on field service management market size, field service management market drivers and trends, field service management market major players and field service management market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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