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Field Service Management Software Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 119
  • SKU: IRTNTR45294
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The field service management (FSM) software market share is expected to increase by USD 3.68 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 18.22%.

This field service management (FSM) software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers field service management (FSM) software market segmentations by deployment (on-premise and cloud-based) and geography (North America, Europe, APAC, MEA, and South America). The field service management (FSM) software market report also offers information on several market vendors, including Coresystems AG, FieldAware Group Ltd., FieldEZ, Kirona Solutions Ltd., Microsoft Corp., Oracle Corp., OverIT Spa, ServiceMax Inc., ServicePower Inc., and Zinier Inc. among others.

What will the Field Service Management (FSM) Software Market Size be During the Forecast Period?

Field Service Management Software Market Size

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Field Service Management (FSM) Software Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The various pricing strategies by vendors is notably driving the field service management (FSM) software market growth, although factors such as high cost deploying FSM software may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the field service management (FSM) software market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Field Service Management (FSM) Software Market Driver

One of the key factors driving the field service management (FSM) software market is the various pricing strategies by vendors. The competitive field service management (FSM) software market environment, software vendors are adopting customer-centric pricing strategies enabled by technological advances. Several vendors in the global FSM software market are focusing on providing value-based pricing models depending on the needs of the customer and value perception. The pricing of the software is based on the differentiating features of the software solution and the value-added features provided to the customers. Furthermore, while implementing the software, the customers focus on certain economic and market factors such as return on investment (ROI), the ability to opt for free models, and constrained IT budgets. The vendors need to accommodate varying customer pricing preferences and budgets. The high price of the software and the constrained IT budgets of the customers have forced the vendors to re-evaluate the software pricing and delivery models. Therefore, vendors are providing SaaS, commercial open-source models, and term licensing to be in sync with the changing demands. Thus, the varying pricing structures of FSM software will increase its adoption among the end-users during the forecast period.

Key Field Service Management (FSM) Software Market Trend

Introduction of predictive analytics in FSM software is another factor supporting the field service management (FSM) software market growth in the forecast period. With technological advances, a few vendors in the market are embedding predictive analytics into their FSM solutions. Predictive analytics is gaining huge importance in the global FSM software market as it alerts the technicians to provide service to the customers even before they realize the problem. With predictive analytics, field technicians can offer the customers superior maintenance services that increase uptime, improve the product quality, and reduce the cost. Some of the vendors in the market that offer FSM solutions with predictive analytics are IFS, Oracle, SAP, Microsoft, and Key2Act. Moreover, by putting the company in close proximity to the consumer on a frequent basis, good after-sales service creates additional cross-sell and up-sell chances. For maintaining industrial equipment, most large-scale OEMs follow a set maintenance cycle. However, this may not be the best approach because uncontrollable elements such as the environment, the age of the equipment, and its use can all have a significant impact on the maintenance schedule. This is incentivizing companies to incorporate predictive analytics into FSM solutions in order to predict equipment failure. Predictive analytics, on the other hand, allows service teams to give service only when it is truly necessary.

Key Field Service Management (FSM) Software Market Challenge

High cost deploying FSM software will be a major challenge for the field service management (FSM) software market during the forecast period. The price of FSM software includes the cost of implementation, training, maintenance, software licensing, system design, and customization. Apart from software licensing, enterprises also need to invest in the proper implementation of the software and the training of the employees. Post-implementation, the software requires continuous upgrades to keep up with the market trends. All these factors will increase the overall cost of implementation of FSM software, which will reduce its adoption among the end-users. Furthermore, offering different functionalities, such as scheduling and dispatch, resource capacity planning, service contract management, warranty management, and work order management, in a single product is very expensive. Vendors such as ServiceMax, IFS, Oracle, and ClickSoftware offer mobile field execution, customer management, reporting and dashboards, inventory management, billing and invoicing, and tracking and performance management integration suites. However, to update such software suites, enterprises again require huge investments. Therefore, the high product and upgrade costs refrain small enterprises from adopting FSM solutions, which is adversely affecting the growth of the global FSM software market.

This field service management (fsm) software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global field service management (FSM) software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the field service management (fsm) software market during the forecast period.

Who are the Major Field Service Management (FSM) Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Coresystems AG
  • FieldAware Group Ltd.
  • FieldEZ
  • Kirona Solutions Ltd.
  • Microsoft Corp.
  • Oracle Corp.
  • OverIT Spa
  • ServiceMax Inc.
  • ServicePower Inc.
  • Zinier Inc.

 

This statistical study of the field service management (FSM) software market encompasses successful business strategies deployed by the key vendors. The field service management (FSM) software market is fragmented and the vendors are deploying growth strategies such as extended functionality of their solutions to compete in the market.

Product Insights and News

  • Coresystems AG - The company offers field service management solutions with software such as crowd service, workforce scheduling and field service dispatching software, field service analytics, reports and dashboards, customer self-service, field service knowledge management, work order management software, mobile field service management software, integration and cloud, security and GDPR software.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The field service management (fsm) software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Field Service Management (FSM) Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the field service management (fsm) software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global application software includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Field Service Management (FSM) Software Market?

Field Service Management Software Market Market segmentation by region

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31% of the market's growth will originate from Europe during the forecast period. Germany and the UK are the key markets for field service management (FSM) software market in Europe. Market growth in this region will be slower than the growth of the market in regions such as APAC and MEA.

The need for a faster response to the changing business requirements and the availability of the subscription-based pricing model  will facilitate the field service management (FSM) software market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region witnessed certain challenges, owing to the outbreak of the COVID-19 pandemic in 2020. The pandemic led to a lockdown situation and affected normal activities in various sectors of the region, including industries, manufacturing, and IT companies. However, the adoption of and demand for cloud-based FSM software increased in the region in 2020 due to the remote working model adopted by the organizations, which is expected to drive the regional market growth during the forecast period.

What are the Revenue-generating Deployment Segments in the Field Service Management (FSM) Software Market?

Field Service Management Software Market Segmentation

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The field service management (FSM) software market share growth by the on-premise segment will be significant during the forecast period. On-premises FSM software is purchased by the users and installed on their own respective servers. The biggest advantage of the on-premises FSM software is that organizations have complete control over their critical data. This will drive the demand for the on-premise segment during 2021-2025.

This report provides an accurate prediction of the contribution of all the segments to the growth of the field service management (fsm) software market size and actionable market insights on post COVID-19 impact on each segment.

 

Field Service Management (FSM) Software Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 18.22%

Market growth 2021-2025

$ 3.68 billion

Market structure

Fragmented

YoY growth (%)

19.74

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

Europe at 31%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Coresystems AG, FieldAware Group Ltd., FieldEZ, Kirona Solutions Ltd., Microsoft Corp., Oracle Corp., OverIT Spa, ServiceMax Inc., ServicePower Inc., and Zinier Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Field Service Management (FSM) Software Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive field service management (FSM) software market growth during the next five years
  • Precise estimation of the field service management (FSM) software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the field service management (FSM) software market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of field service management (FSM) software market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Global application software market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Deployment

    • 5.1 Market segments
      • Exhibit 15: Deployment - Market share 2020-2025 (%)
    • 5.2 Comparison by Deployment
      • Exhibit 16: Comparison by Deployment
    • 5.3 On-premise - Market size and forecast 2020-2025
      • Exhibit 17: On-premise - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: On-premise - Year-over-year growth 2020-2025 (%)
    • 5.4 Cloud-based - Market size and forecast 2020-2025
      • Exhibit 19: Cloud-based - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Cloud-based - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Deployment
      • Exhibit 21: Market opportunity by Deployment

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 25: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 41: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 42: Market positioning of vendors
        • 10.3 Coresystems AG
          • Exhibit 43: Coresystems AG - Overview
          • Exhibit 44: Coresystems AG - Product and service
          • Exhibit 45: Coresystems AG - Key offerings
        • 10.4 FieldAware Group Ltd.
          • Exhibit 46: FieldAware Group Ltd. - Overview
          • Exhibit 47: FieldAware Group Ltd. - Product and service
          • Exhibit 48: FieldAware Group Ltd. - Key news
          • Exhibit 49: FieldAware Group Ltd. - Key offerings
        • 10.5 FieldEZ
          • 10.6 Kirona Solutions Ltd.
            • Exhibit 53: Kirona Solutions Ltd. - Overview
            • Exhibit 54: Kirona Solutions Ltd. - Product and service
            • Exhibit 55: Kirona Solutions Ltd. - Key offerings
          • 10.7 Microsoft Corp.
            • Exhibit 56: Microsoft Corp. - Overview
            • Exhibit 57: Microsoft Corp. - Business segments
            • Exhibit 58: Microsoft Corp. - Key news
            • Exhibit 59: Microsoft Corp. - Key offerings
            • Exhibit 60: Microsoft Corp. - Segment focus
          • 10.8 Oracle Corp.
            • Exhibit 61: Oracle Corp. - Overview
            • Exhibit 62: Oracle Corp. - Business segments
            • Exhibit 63: Oracle Corp. - Key news
            • Exhibit 64: Oracle Corp. - Key offerings
            • Exhibit 65: Oracle Corp. - Segment focus
          • 10.9 OverIT Spa
            • Exhibit 66: OverIT Spa - Overview
            • Exhibit 67: OverIT Spa - Product and service
            • Exhibit 68: OverIT Spa - Key news
            • Exhibit 69: OverIT Spa - Key offerings
          • 10.10 ServiceMax Inc.
            • Exhibit 70: ServiceMax Inc. - Overview
            • Exhibit 71: ServiceMax Inc. - Product and service
            • Exhibit 72: ServiceMax Inc. - Key news
            • Exhibit 73: ServiceMax Inc. - Key offerings
          • 10.11 ServicePower Inc.
            • Exhibit 74: ServicePower Inc. - Overview
            • Exhibit 75: ServicePower Inc. - Product and service
            • Exhibit 76: ServicePower Inc. - Key offerings
          • 10.12 Zinier Inc.
            • Exhibit 77: Zinier Inc. - Overview
            • Exhibit 78: ServicePower Inc. - Product and service
            • Exhibit 79: Zinier Inc. - Key news
            • Exhibit 80: Zinier Inc. - Key offerings

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 81: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 82: Research Methodology
              • Exhibit 83: Validation techniques employed for market sizing
              • Exhibit 84: Information sources
            • 11.4 List of abbreviations
              • Exhibit 85: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Field Service Management (FSM) Software Market market growth will increase by $3.68 bn during 2021-2025.
            The field service management (fsm) software market market is expected to grow at a CAGR of 18.22% during 2021-2025.
            Technavio has segmented the field service management (fsm) software market market by deployment (On-premise and Cloud-based) ,geography (North America, Europe, APAC, MEA, and South America) , and geographic (North America, Europe, APAC, MEA, and South America).
            Coresystems AG, FieldAware Group Ltd., FieldEZ, Kirona Solutions Ltd., Microsoft Corp., Oracle Corp., OverIT Spa, ServiceMax Inc., ServicePower Inc., Zinier Inc. are a few of the key vendors in the field service management (fsm) software market market.
            Europe will register the highest growth rate of 31% among the other regions. Therefore, the field service management (fsm) software market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the field service management (fsm) software market market growth are:
            • various pricing strategies by vendors
            • Introduction of predictive analytics in FSM software
            The field service management (fsm) software market market vendors should focus on grabbing business opportunities from the on-premise segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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