The market for service lifecycle management applications is creating value through the use of third platform technologies, which are driving innovation and real-time connectivity between different service lifecycle management application solutions. The introduction of cloud technology has increased access to service component visibility. Furthermore, mobile technology has enabled technicians on the field to communicate information derived from Big Data analytics at the right time for accurate problem solving.
All of these factors have added a precision-driven aspect to services, raising the value proposition and overall profit margins.
According to Future Market Insights, the global service lifecycle management application market will grow at a CAGR of 6.9% from 2020 to 2030.
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Key Takeaways of Service Lifecycle Management Application Market Study
- The use of service lifecycle management applications is growing, especially in sectors that manufacture with metal, such as aerospace and defence and automotive and transportation.
- The use of service lifecycle management applications will increase by 1.7x of current market value by the end of 2030 in the medical equipment sector as COVID-19 leads to a significant volume of new n
- The Asia Pacific service lifecycle management application market is anticipated to grow at a CAGR of around 8% from 2020 to 2030.
Big Data Analytics Driving Real Time Communication and Analysis in SLM Applications
Because it collects asset information and enables better service quality, data analytics transforms service management operations and increases the percentage of first-time repairs (FTF rate). Apps for SLM let businesses assess how well their services are doing in relation to their plans. As a result, the SLM programme aids businesses in finding and resolving service problems more quickly.
Through connected devices, descriptive and predictive analytics will enable real-time communication between dealerships, manufacturers, and customers. This will enable manufacturers to receive notifications about the status of their products and early warnings to make more proactive decisions that will improve service and customer retention. Analytics will also focus on fusing service lifecycle management software with data on customer satisfaction.
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Key Segment
By Service Based Model
- Field Based Model
- Depot Based Model
- Dealer Based Model
- Performance Based Model
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
By Solutions
- Field Based Model
- Depot Based Model
- Dealer Based Model
- Performance Based Model
By End-use Industry
- Automotive & Transportation
- Aerospace & Defense
- Medical Equipment
- High Technology
- Telecommunications
- Industrial Machinery & Equipment
Related Links –
https://fmiblogpost.blogspot.com/2022/11/serverless-apps-market-size-top-key.html
https://at.tumblr.com/sagarg889/serverless-apps-market-by-system-type-end-user/6d0stvho6jio
https://pastelink.net/otz61inb
https://band.us/band/88002872/post/47
https://anotepad.com/note/read/aayk3tcm
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