The market for cloud field service management (FSM) is anticipated to reach a value of US$ 2,340.0 Million in 2022 and, with a CAGR of 11.2% from 2022 to 2032, to reach US$ 6,752.0 Million. Development is to blame for the growing interest in enhanced client commitment and client care insight. Between 2016 and 2021, the market for bread roll blends is anticipated to expand at a CAGR of 10.3%.
Businesses are embracing cloud field service management systems to enhance their operational cycles and continuously solve customer complaints. The retail sector makes extensive use of cloud-based service management arrangements due to the steadily increasing consumer spending trends. Additionally, to suit their needs, small and medium-sized organizations are creating programs on cloud field service management systems.
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But another factor that is anticipated to have a detrimental effect on the growth of the cloud field service management (FSM) market during the forecast period is a lack of knowledge of the functional viability and numerous advantages of the technologically advanced frameworks.
Cloud Field Service Management (FSM) Market: Drivers and Restraints
The rising need to enhance enterprise operational productivity with the minimized cost through cloud field service management solutions is turning out to be the major driving factor of the cloud field service management market.
The enterprises are aiming to offer improved customer service experience and customer engagement by implementing these solutions, which is also turning out to be a major factor contributing to the growth of the cloud field service management (FSM) market. Moreover, the emergence of IoT technology will have a positive impact on the growth of the Cloud field service management market.
Maintaining the integration of existing Field Service management with cloud service management solutions is the major challenge faced by most of the vendors in the cloud field service management (FSM) market.
Global Cloud Field Service Management (FSM) Market: Regional Outlook
Based on geography, Cloud Field Service Management (FSM) market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. Among various regions, the Cloud Field Service Management (FSM) market in North America is expected to dominate during the forecast period owing to the increasing demand for efficient computing frameworks by small and medium size business enterprises. The North American region is expected to be followed by Western Europe, and APAC.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industries.
Start-up-Scenario
BiznusSoft Field Service, NextService, Managemart.com, The Kantata Cloud for Professional Services, Binzusoft, and Smart Serv are some of the startup companies operating in the cloud field service management market.
In JUNE 2022 – Kantataclosed its first-quarter operating as a new company following the successful merger of Mavenlink and Kimble Applications with strong results driven by the growth of its client roster.
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Global Cloud Field Service Management (FSM) Market: Competitive Landscape
Some of the key participants present in the global cloud field service management market include Salesforce.Com, Inc., SAP SE, Oracle Corporation, IBM Corporation, Servicemax Inc., Microsoft Corporation, Acumatica Inc., and Astea International Inc. among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Salesforce.Com, Inc., SAP SE, Oracle Corporation, and IBM Corporation account for considerable market size, several regional-level players are also operating across key growth regions.
- In April 2022 – ServiceMax, announced the release of new features for Asset 360 for Salesforce. It offers features that take the product beyond traditional field service personas, empowering strategic stakeholders like chief revenue officers and chief operating officers, as well as operational and commercial stakeholders in the supply chain, sales, and marketing.
- In June 2022 – Commvault formed a strategic partnership with Oracle to include Metallic DMaaS on Oracle Cloud. As part of Commvault’s multi-cloud strategy, Metallic’s industry-leading services will be offered on Oracle Cloud Infrastructure (OCI) and available in all commercial OCI regions globally.
Key Segments Profiled In The Cloud Field Service Management (FSM) Industry Survey
Cloud Field Service Management (FSM) Market by Component:
- Mobile Cloud Field Service Management
- Inventory Cloud Field Service Management
- Work Order Cloud Field Service Management
- Service Project Cloud Field Service Management
- Other Cloud Field Service Management Components
Cloud Field Service Management (FSM) Market by Services:
- Cloud Field Service Management Consulting Services
- Cloud Field Service Management Integration and Migration
- Cloud Field Service Management Support and Maintenance
Cloud Field Service Management (FSM) Market by enterprise type:
- Cloud Field Service Management for Small and Medium Business Enterprises
- Cloud Field Service Management for Large Enterprises
Cloud Field Service Management (FSM) Market by Region:
- North America Cloud Field Service Management (FSM) Market
- Latin America Cloud Field Service Management (FSM) Market
- Europe Cloud Field Service Management (FSM) Market
- Asia Pacific Cloud Field Service Management (FSM) Market
- Middle East and Africa Cloud Field Service Management (FSM) Market
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