New ARC Advisory Group research on the Field Service Management (FSM) market reveals that adoption of industrial AI is accelerating growth. As industrial organizations continue on their digital transformation journey, industrial AI is becoming a key enabler to improve business processes, simplify jobs for the workforce, and scale technology. Industrial AI also helps users simplify and bring in improvements throughout the different stages of field service. Based on the details of asset health conditions and technician skill sets, modern FSM solutions can leverage industrial AI to recommend the right technician to the scheduler or even match and schedule the technician by itself. AI and data analytics are also proving to be of immense help to optimize the route planning process.
"Service optimization is one key area that can benefit immensely with AI enhancements. Advanced FSM solutions leveraging AI can provide technicians with easy to access bots and knowledge bases, which may well be enhanced by the breakthroughs in cognitive vision, natural language processing, and the new interactions, which are possible with the LLMs. With all these insights and advanced tools, AI can be of tremendous help to OEMs and can significantly improve FTFR and shorten time for repairs as well. Modern FSM software combined with mobility changes the role of the service technician from a repair function to customer service, with an opportunity to upsell with additional services. Good service becomes a strategic weapon and a critical advantage,” according to Inderpreet Shoker, Director of Research and key author of ARC's Field Service Management Market Research.
Field Service Management Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Mobility Improves Data Integrity and Usefulness
- A Lifecycle View of Assets
- SaaS is Displacing Perpetual Licenses
- Convergence of Customer Service and Field Service
Leading Suppliers to the Field Service Management 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, Salesforce, ServiceMax, ServiceTitan.
About the Field Service Management Research
The Field Service Management research 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, five-year market forecasts, and five years of historical analysis. The segmentation includes Industry, Customer Type, World Region, Sales Channel, Service Revenues by Type, Revenue Category, Customer Tier, Software Revenues by Type.
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