Field Service Management Market ? Telecom and IT industry Vertical will Lead?Gro

Posted by RASHMI on March 27th, 2019

Field Service Management can be defined as the managing of a company’s resources which may be en route or employed at client’s property, rather than company’s property. Among many examples of field service management, prominent ones are the locating of vehicles, scheduling and dispatching of work, managing worker’s activities, accounting, billing and so on. There are many benefits of field service management software. Some of these are growth in revenue, reduction of cost, better resource allocation and co-ordination. These software also take care of the billing, statement of work and provide oversight.

The global field service management market is expected to expand at a CAGR of 14.1% during the forecast period of 2017 to 2025 and reach US$ 8,593.6 Mn in 2025.

The global field service management market is segmented on the basis of solution, service, deployment type, user type and industry vertical. On the basis of solution, the market is segmented into billing and invoicing, inventory management, mobile field execution, reporting and dashboards, schedule and dispatch, tracking and performance management, and work order management.

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The work order management sub-segment is expected to hold a major share of the market while inventory management is anticipated to grow at a substantial pace. On the basis of service, the market is segmented into consulting, implementation, and training and support. On the basis of deployment type, the market is segmented into cloud and on-premise. Based on user type, the market is segmented into small and medium enterprise (SME) and large enterprise.