The global field service management software market is expected to grow at a CAGR of over 17% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct indirect COVID-19 related markets.
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Technavio has announced its latest market research report titled Global Field Service Management (FSM) Software Market 2020-2024 (Graphic: Business Wire)
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The market is driven by the adoption of various pricing strategies by vendors. Factors such as return on investment (ROI), the ability to opt for free models, and constrained IT budgets are considered by customers while deploying solutions. In addition, growing competition in the market has compelled vendors to focus on providing value-based pricing models depending on the needs of the customer and value perception. This is leading to the expansion of product portfolios of vendors, thus increasing the availability of a wide range of differentiated products for end-users. These factors are positively influencing the growth of the global field service management software market.
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Field Service Management Software Market: Analysis of Parent Market
The global application software market is the parent market of the field service management software market. Within its scope, the application software market covers companies engaged in developing and producing application and system software. It also includes companies offering database management software. Our report on the field service management software market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Comarch SA, FieldAware Group Ltd., IFS AB, Infor Inc., Microsoft Corp., Oracle Corp., OverIT Spa, Salesforce.com Inc., SAP SE, and ServiceMax Inc.
Technavio's research report on the field service management software market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall application software market.
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Field Service Management Software Market: Segmentation Analysis
The global field service management software market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the field service management software market. The market is segmented as follows:
Deployment
- On-premise
- Cloud-based
Geography
- APAC
- Europe
- MEA
- North America
- South America
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Vendor Landscape
Technavio's industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the field service management software market. Sources such as company websites, annual reports, whitepapers, subscription in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the application software market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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