Field Service Management Market ? Future Forecast Assessed On The Basis Of How T

Posted by RASHMI on April 5th, 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.

Growing need for improved efficiency and migration to cloud are expected to be major drivers of the market. The market is also expected to grow from the high degree of technological advancements in developed and developing countries such as the U.S., the U.K., France, Germany, China and Japan among others.

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However, the market growth is expected to be hindered by the concerns over data security. Moreover, the market is expected to face restraint due to the growing costs of field service management solutions.

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.