Field Service Management Market Analysis

Deployment Segment Analysis

The global field service management market is segmented and analyzed for demand and supply by deployment into on-premises and cloud. Out of these, the on-premise segment is estimated to gain the largest market share of about 37% in the year 2035. The segment's growth can be attributed to the fact that on-premises solutions are more secure, allowing companies to have better control over their data, as well as offering more customized solutions. Additionally, companies may prefer on-premises solutions owing to their scalability and flexibility, as well as the fact that they can be integrated with other existing systems and applications. According to a recent survey IT infrastructures on-premises are still used by 98% of businesses. Furthermore, on-premises solutions generally have a lower total cost of ownership over the long term, making them more attractive to companies when looking to invest in a technology solution. They also provide companies with more control over their data, allowing them to ensure that it is stored securely and is only accessed by authorized personnel.

FSM Type Segment Analysis

The global field service management market is segmented and analyzed for demand and supply by FSM type into scheduling, dispatch, and route optimization, service contract management, work order management, customer management, inventory management, services and others. Out of these, the service contract management segment is estimated to gain the significant market share of about 23% in the year 2035. The growth of the segment can be attributed to the need for efficient service contract management and the rising demand for automated solutions. Moreover, the increasing adoption of cloud-based solutions and the growth of the IoT sector are also expected to have a positive impact on the growth of the service contract management segment. The IoT industry is currently valued at approximately USD 780 billion, with 73% of IoT sales revenues coming from enterprise IoT in 2020. IoT devices generate massive amounts of data which needs to be monitored and managed, and this requires a lot of service contracts with various vendors. Additionally, the growth of the service contract management segment is also driven by the increasing need for traceability and visibility within the service contract management process. This helps organizations to identify discrepancies in the contract, which can lead to improved customer satisfaction and higher revenue growth.

Our in-depth analysis of the global market includes the following segments: