FSM market worth $3.52 billion by 2019

The global field service management market will be worth US$3.52 million by the year 2019, according to recent research published by Markets and Markets and reported by technology industry news experts WhaTech. They estimate that the market was around US$1.58 billion at the close of 2014.

The report finds that the FSM sector is in the growing stage and advances in technology for the sector will contribute to accelerated expansion in the coming five years. It suggests that CRM and ERP solutions failed to meet the specific needs of FS applications, so a requirement for low-cost solutions is fuelling that growth.

Work order management, inventory management, customer management, reporting, and billing and invoicing are cited as solutions gaining traction in various industry verticals such as construction, oil and gas, security and alarm, transportation and health care.

Markets and Markets found that, while North America represents the largest market size, both Europe and Asia Pacific are also well placed to experience increased market traction.

The report is titled ‘Field Service Management Market by Solution (Work Order Management, Schedule and Dispatch, Inventory Management), by Service, by Deployment Type (Cloud, and On-Premise), by User Type (SMBs and Enterprise), by Industry Vertical & by Region - Global Forecasts to 2019’.

Running at around 162 pages, including 68 market data tables, the report covers adoption trends, future growth potential, key drivers, restraints, opportunities and best practice in the global field service management market. You can enquire about customised versions of the report here