North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025
This study examines the North American mobile field service management market. Mobile FSM solutions are software applications that leverage a variety of technologies (geolocation, artificial intelligence, digital forms, etc.) on smartphones, tablets, rugged devices, and wearables in order to locate, manage, automate and/or optimize field-based service workers and their tasks.
Mobilized field service management solutions enable the remote service worker to receive and transmit work-related information and guidance on a real-time basis. These capabilities contribute to a continued growth market, with revenues projected to grow to over $4 billion by 2025.
In this study, key market trends, adoption dynamics, the competitive landscape, potential growth opportunities, and revenue and user forecasts are defined and discussed.
FSM’s mobility component continues to enhance the FSM offer, expand the FSM addressable market, and introduce new cutting-edge technologies and partnerships to the FSM ecosystem. Mobile access to FSM capabilities increases technician visibility, accelerates first time repair rates, reduced paperwork, and increases customer satisfaction. Current mobile FSM solution users will want to remain current on product enhancements and the evolving mix of industry players. High-potential new users—such as those in home healthcare, utilities, public safety, real estate, etc.—should be aware of FSM as a competitive differentiation opportunity. All stakeholders are advised to track trends, partnership opportunities, and customer needs.
Challenges to growth in this sector include: 1) Concerns regarding the cost of the mobilized FSM solution, 2) Fear that the integration process, especially with older legacy systems, will become too difficult and costly, 3) Worker resistance if the solution proves difficult to use, 4) A lingering lack of customer awareness regarding product and vendor alternatives, 5) Worries regarding data security, and 6) At least during 2020-2021, the COVID-19 dampening effect on FSM sales.
KEY ISSUES ADDRESSED
How is the Mobile FSM solution category evolving? Which market trends are particularly relevant? How can providers establish a competitive advantage?
Who are the current key participants (vendors and channels) in this sector? What major mergers and acquisitions have recently taken place?
Which industries are ripe for more vertical-specific Mobile FSM iterations?
What are the near-term Mobile FSM preferences and plans of businesses with field service workers? (Source: Frost & Sullivan’s recent Global Digital Solutions Survey)
How large is the Mobile FSM market? How will it grow over the next 5 years? What impact is the COVID-19 virus expected to have on uptake?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook