Global Field Service Management (FSM) Software Market 2017-2021
About Field Service Management (FSM) Software
FSM software helps organizations deliver effective on-site services by tracking requests, managing personnel, and maintaining visibility into operations. Some of the main features of FSM software include work order management, inventory, fleet tracking, and reporting. FSM software helps organizations automate field service operations to improve both efficiency and visibility. The increased adoption of FSM software from businesses of every type and size is fueling the growth of the global FSM software market.
Technavio’s analysts forecast the global field service management (FSM) software market to grow at a CAGR of 12.05% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global field service management (FSM) software market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Field Service Management (FSM) Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global field service management (FSM) software market: Astea International, ClickSoftware, IFS, Oracle, and ServiceMax (GE Digital).
Other Prominent Vendors in the market are: Accruent, Comarch, CORESYSTEMS, FieldAware, Infor, Key2Act (formerly WennSoft), Microsoft, MSI Data, OverIT, Praxedo, Retriever Communications, ServicePower, and ServiceTrade.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of predictive analytics in FSM software. After-sales service is critical for an enterprise to retain profitable maintenance contracts. A good after-sales service creates more cross-sell and up-sell opportunities by placing the organization in proximity with the customer on a regular basis.”
According to the report, one driver in the market is various pricing strategies by vendors. To thrive in the competitive market environment, the software vendors are adopting customer-centric pricing strategies enabled by technological advances. Several vendors in the global FSM software market are focusing on providing value-based pricing models depending on the needs of the customer and value perception. The pricing of the software is based on the differentiating features of the software solution and the value-added features provided to the customers.
Further, the report states that one challenge in the market is high costs. The high cost of deploying on-premises FSM software is one of the major factors that challenge the growth of the global FSM software market. The price of FSM software includes the cost of implementation, training, maintenance, software licensing, system design, and customization. Apart from software licensing, enterprises also need to invest in the proper implementation of the software and the training of the employees (to use the software application).
Astea International, ClickSoftware, IFS, Oracle, ServiceMax (GE Digital), Accruent, Comarch, CORESYSTEMS, FieldAware, Infor, Key2Act (formerly WennSoft), Microsoft, MSI Data, OverIT, Praxedo, Retriever Communications, ServicePower, and ServiceTrade.