Global Cloud Field Service Management Market: A Technology to get Better Output in Less Operational Cost

Global Cloud Field Service Management Market

Field service management is a system which is specially designed to manage and monitor the different end- to- end services such as invoicing, billing, scheduling, dispatching and other in a field service. There main function is to improve the productivity and output of the field service teams. Through a proper cloud based platform one can manage these tasks through the phone. Today, FSM is widely used in different industries such as waste management, telecommunication, transportation, home healthcare and others. They are very beneficial as they create coordination between the field operations and organizations.  Cloud based field management systems are very helpful as they have the ability to provide the timely updates and also helps the officials to work efficiently. Using FSM software is very beneficial as it can reduce lower the fuel cost, better management, faster first time job success and better data entry and accounting.

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Some of the factors responsible for the growth of this market are as follow:

  • Increasing demand of IoT: Today companies are using social media marketing, digitization and other resources so that they can connect easily with their customers. IoT plays very important role in our day to day life. Through IoT, electronic machines can easily transfer data into the cloud over the internet with the help of IP/TCP. IoT has become an essential part for both industrial and everyday purposes. Smart security systems, smart appliances, smart home hubs, fitness trackers, sleep trackers and others are some of the common IoT which we use in our day to day life. It is helping us by making our lives easy, smarter and providing us complete control over life. It is also beneficial for the companies as it help them to reduce labor cost, improves service delivery, and help them to provide better services to their customers
  • Growing demand to enhance operational productivity and reduce operating costs: Field service management has the ability to improve the business operations. Using field management service will helps the company to shift toward digital operations which will decrease all the unnecessary expenses associated with the physical storage, printer, paper, ink cartridges and others. It also helps to improve the productivity as now technicians focus more on the serving better services and solutions to the customers rather wasting their time on filling paper forms. Today companies have understood that going paperless and using proper software will be beneficial for the business

The global cloud field service management market is segmented on the basis of deployment model which is further segmented into public cloud, private cloud, and hybrid cloud; type is segmented into solutions, and services. The solution segment is further sub segmented into scheduling and dispatch, mobile field service management, reporting and analytics, service project management, work order management, inventory management, warranty management, and others. The solutions segment is also further sub segmented into training, education, and consulting, integration and migration, support and maintenance, and others. The global cloud field service management market is also segmented on the basis of organization size into large enterprises, small & medium-sized enterprises and vertical is segmented into manufacturing, transportation and logistics, construction and real estate, energy and utilities, healthcare and life sciences, retail and consumer goods, banking, financial services, and insurance, telecommunication, it, and others.

Some of the launches in the market are as follow:

  • In August 2019, GE Digital announced that they have acquired ServiceMax so that they can increase their Industrial Internet vision so that customers can improve their assets and increase efficiency in their field service processes. This acquisition will help the company to expand their overall technology and will also allow them to support digital industrial transformation. This acquisition will also increase the customer base and will strengthen their position in the market
  • In July 2019, CSG announced the launch of their CSG Field Service Management which is specially designed so that companies can combine their field service management to their customer experience. This new field service management has the ability to provide 360-degree view of their field operations. The main aim of the launch is to provide better services to the customers so that they can increase their productivity

“According to Data Bridge Market Research, global cloud field service management market accounted to grow at a healthy CAGR of 18.01% during the forecast period of 2017 to 2024”

Some of the major players of the global cloud field service management market are Click Software, IBM Corporation, Infor, Microsoft, Oracle, Service Power, Service max, SAP SE, IFS, AB, Service Now, Salesforce.com, Inc., Acumatica, Inc., Astea International Inc., and others.

This technology is very helpful for the businesses as they have the ability to track the customer services, administrative services and others. They provide better accountability and eliminate the chances of any delays. Today these technologies are widely used in industries such as construction, healthcare, financial services, transportation and logistics, real estate, financial services and others. This is the factor which is further creating new opportunities for this market.