Field Service Management Market Achieving Huge Growth with SaaS, IoT, and Outsourcing

New ARC Advisory Group research on the Field Service Management (FSM) market reveals several drivers converging to provide growth well in access of 10% per year.   Software-as-a-Service (SaaS) adoption has lowered the initial cost and technology risk for new customers.  OEMs are using IIoT technologies to offer new value-added aftermarket services for its customers.  With IIoT, equipment issues can be identified prior to failure, and avoid unplanned downtime.  The combination of new equipment becoming more complex and generational change drives more outsourcing of maintenance to service providers who need a modern field service management system to be competitive and manage growth.

“IIoT provides a means for original equipment manufacturers (OEMs) to monitor the condition of the equipment in the customer’s site.  When problems start to occur, analytics predict when the asset will fail.  OEMs are selling services to perform the monitoring, alert the user of issues, and make the repair before failure occurs,” according to Ralph Rio, Vice President, Enterprise Software, at ARC Advisory Group and key author of ARC’s Field Service Management Global Market Research 2017-2022 report.  Ralph continued, “Management and execution of these services requires a modern field service management solution.  This will lead to an increased demand for FSM systems, which continues to drive high growth for the overall market and the suppliers providing them.”

About the Field Service Management Research

Field Service Management MarketThis ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the field service management market.  This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques.  The research includes competitive analysis, plus five-year market forecasts by industry, region, revenue category, sales channels, and customers. 

This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations.  These include a:

  • Market Intelligence Workbook (Excel) – personalized spreadsheet includes historical data in addition to the current base year market data and five-year market forecast.  This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
  • Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues.  The PDF is available with or without detailed charts.

For more information on this and other available ARC market research, please visit our Market Data & Studies section.

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