Technavio, a tech-focused market research firm, has published a new report on the global FSM software market, which is expected to post an impressive growth rate with a CAGR of more than 11% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global FSM software market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global field service management softwaremarket into the following key regions: APAC, Europe, MEA, North America, and South America.
Geographical segmentation of the global FSM software market for 2015 (market share %)
|
North America |
42.56% |
|
Europe |
24.12% |
|
APAC |
14.74% |
|
South America |
10.26% |
|
MEA |
8.32% |
Source: Technavio
The top four revenue contributing regions are discussed below:
Global FSM software market in North America
In 2015, North America accounted for around 43% share in the global field service management software market. The softwares gaining popularity in North America are analytics, cloud technology, and BYOD.The key contributors to this market of North America are US, Mexico, and Canada. The factors that contribute to the market growth of this region include high demand for FSM software in enterprise of all sizes and across major verticals such as construction, oil and gas, transportation, and healthcare to enhance productivity and customer satisfaction
According to Ishmeet Kaur, an industry expert at Technavio, specializing in research on enterprise application, “ A growing awareness among enterprises about mobile FSM has led to its early adoption in North America. Mobile FSM solution keeps the fleet managers, and customer service representatives updated on vehicle locations and task status. The regular service of FSM solution offers better accountability and enable teams to manage unexpected delays and problems.”
Most of the key FSM vendors in the market such as SAP, IFS, and Oracle are mainly concentrated in North America.
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Global FSM software market in Europe
The key revenue generating countries in this region are Germany, the UK, France, Italy, and Spain. Most of the contributions are from developing countries because of the rising awareness regarding the cost saving benefits of FSM. Enterprises in Europe are demanding real-time solutions for the field workers so that they can accomplish their task without delay and interruption. The region is witnessing a growing adoption of cloud-based FSM among small and mid-size enterprises due to the low upfront cost and superior management of operations. It is projected that the market share of Europe will also increase with the growing awareness regarding mobile capability, customer portal, contract managementGPS, and analytics in FSM solutions.
Global FSM software market in APAC
During the forecast period, Technavio expects the market share of APAC to increase significantly due to the shift in preference of small and mid-size enterprises from on-premises to SaaS-based FSM software.The rise in the number of smartphone users and high adoption of the BYOD policy will have a positive influence on the field service management software market in APAC. The region will experience a high adoption of FSM in heavy industries such as oil and gas, manufacturing, and energy and utilities. The growing focus of enterprises on reducing operational costs increase profitability, and customer satisfaction will lead to an increased adoptionm of SaaS-based FSM software among SMEs.
Global FSM software market in South America
In South America, there is a growing awareness among enterprises regarding the adoption of field service based mobile apps. Need for better customer satisfaction has led vendors in the region focus on the requirements of the clients. They are looking for better access to clients, measurable improvement in work processes, and more flexible systems to improve business at all levels.
The top leading vendors operating in the FSM software market are:
- Astea International
- ClickSoftware
- IFS
- Oracle
- SAP
- ServiceMax
Other prominent vendors in the market include Comarch, CORESYSTEMS, FieldAware, Infor, Key2Act, Microsoft, MSI Data, Praxedo, Retriever Communications, ServicePower, ServiceTrade, and Trimble Navigation.
A more detailed analysis is available in the Technavio report titled, ‘Global FSM Software Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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