Cloud Field Service Management Market projected to surge at 11.6% CAGR in forecast period

According to a survey by FMI, the cloud field service management (FSM) market experienced a 9.5% CAGR from 2018 to 2022, at a value of US$ 2,340.6 million. The overall market is further anticipated to develop at a remarkable CAGR of 11.6% from 2023 to 2033. As per the FMI analysis report, it could reach a valuation of about US$ 7,738.4 million by the end of the forecast period.

The soaring need for real-time field service solutions has largely fueled the recent growth in the overall market. With the adoption of cloud field service management solution technologies, organizations may increase customer satisfaction by offering quick and effective fixes. Such responsiveness has aided the expansion of FSM service providers and the rising use of real-time FSM solutions across a variety of sectors.

Key Takeaways from the Cloud Field Service Management (FSM) Market Study Report

The adoption of cloud field service management solutions is greater in the United States than in any other country. As per the report, in 2022, it accrued a business of around 19.9%, while North America accrued 27.6% of the global market share.

In the year 2022, all European countries together contributed to a revenue share of almost 20.1% in the global cloud FSM market. Germany was the leading country that year, with a revenue share of 7.1%.

The demand for cloud field service management (FSM) solutions in the United Kingdom is anticipated to record a higher 10.5% CAGR through 2033.

The overall market is projected to progress at an accelerated rate of 13.4% in China from 2023 to 2033. The adoption of cloud field service management solutions in the Indian market is expected to experience an even higher CAGR of 15.6% through 2033.

Based on component type, the inventory cloud field service management solution dominates the overall market and may hold a market share of 30.1% in 2022.

Among the different types of services, the segment of integration and migration was leading the market in 2022 with a global revenue share of 49.8%.

Competitive Landscape for the Cloud Field Service Management (FSM) Market Players

Salesforce.Com, SAP SE, Oracle, IBM, ServiceMax, Microsoft, Acumatica, and Astea International, among others, are some leading service providers in the global FSM market.

Leading players now offer cutting-edge algorithms and machine learning capabilities that help improve field service job scheduling. New FSM providers can improve service delivery and guarantee efficient resource allocation by implementing comparable schedule optimization approaches.

Recent Developments by the Cloud Field Service Management (FSM) Service Providers

With the release of the FSM Cloud Connector in March 2023, SAP introduced a revolutionary innovation for Cloud Field Service Management (FSM) service providers. Seamless interaction between FSM systems and SAP’s maintenance service platform precisely addresses the integration requirements of clients employing SAP S/4HANA Maintenance Service.

IFS released a new version of its Field Service Management (FSM) software in February 2023 with features like remote help, asset management, and predictive analytics. The integration of remote assistance tools in IFS’s FSM software offers real-time instruction by utilizing technology like video conferencing and augmented reality.

Comments

Post a Comment

Popular posts from this blog

Set-Top Box Market Share, Global Industry Size, Growth, Competitor Landscape, Regional Outlook 2022 to 2032

The global  set-top box market  is expected to reach a market valuation of US$ 33.4 Billion by the year 2022, accelerating with a moderate CAGR of 5.6% by 2022-2032. Set-top box market size is anticipated to be valued at about US$ 57.7 Billion by 2032 end. The expansion of the set-top box market is anticipated to be aided by the increasing availability of high-definition channels and on-demand video content over the next few years. Technology advancements in the set-top box market, such as 4K and 8K support, and the incorporation of smart home services in STBs, are favorably impacting TV viewership trends. New UHD and OTT boxes from established companies will also help the market grow. Set-top box market growth will be substantial as a result of government attempts to hasten the digitalization of TV services, especially in Latin America Asia and the Pacific. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4594 The growin...
Read more

Enterprise VSAT Systems Market Recent Trends, Demand, Dynamic Innovation in Technology & Insights 2033

Image
The global enterprise VSAT systems market reached a value of US$ 4.9 billion in 2023. Over the next decade, from 2023 to 2033, it is anticipated to grow steadily at a rate of 4.5%. By 2033, this market is expected to reach a value of US$ 7.4 billion . Increased adoption of VSAT systems in the maritime industry is a key factor that is anticipated to accelerate market growth during the forecast period. Other factors such as demand for a broadband data connection from business and government sectors are expected to augment the market size of the enterprise VSAT systems in the future. Enterprise VSAT Systems are commonly installed on ships to provide fast broadband connectivity for both personal contact and business operations, which is a factor that is driving the market growth.  VSAT is used in video conferencing and ERP in industry-related activities and it is used in streaming, video messaging, and email in personal communications, which is another factor the drives the market gro...
Read more

NVMe over Fiber Channel Market Expected to Reach US$ 388,623.5 Million by 2033

According to Future Market Insights, the NVMe over fiber channel market is projected to hit a value of US$ 45,461.6 million by 2023. It's expected to show significant growth, with a Compound Annual Growth Rate (CAGR) of 23.9% between 2023 and 2033. This growth is attributed to increased demand from enterprises worldwide for NVMe over fiber channel technology. By the end of the forecast period, the market is anticipated to reach a valuation of US$ 388,623.5 million. In the fast-paced world of data storage, innovation is key to staying ahead of the curve. One such innovation that has been making waves in recent years is NVMe (Non-Volatile Memory Express) Over Fiber Channel. This groundbreaking technology is transforming the storage landscape, offering unprecedented speed, efficiency, and scalability for enterprise storage solutions. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12979 1. Introduction to NVMe Over Fiber Channe...
Read more