How is the Field Service Management Market Poised for Growth: Trends and Opportunities Through 2034
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
How has the field service management market grown in recent years?
In recent times, we’ve witnessed a significant expansion in the market size of field service management. The market is projected to escalate from $4.55 billion in 2024 to $5.15 billion in 2025, with a compound annual growth rate (CAGR) of 13.3%. Factors like the increasing need for automation, heightened customer expectations, globalization, as well as compliance and regulations are attributed to the growth during the historic period.
How is the field service management market size expected to evolve during the forecast period?
The market size of field service management is projected to experience accelerated expansion in the forthcoming years, with an expected valuation of $9.07 billion in 2029, indicating a compound annual growth rate (CAGR) of 15.2%. Factors contributing to such projected growth within this period include emphasis on predictive maintenance, an expanding mobile workforce, and elevated cloud adoption. Key trends to look out for during this forecast period range from integration with ERP and CRM systems, a focus on data analytics, integration with augmented reality (AR), a mobile-first strategy, utilising blockchain for enhanced security, and the move towards subscription-based models.
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Which key drivers are propelling the field service management market’s growth?
The surge in the use of automation and digitalization is projected to catalyze the expansion of the field service management market during the forecast period. These technologies are employed to automatically perform tasks at specific intervals using digital tools. The benefits of incorporating automation and digitalization in field service management include efficient resource usage, enhanced tracking and monitoring of resources, and reduced operational expenses. For instance, Cavintek Inc., an American firm specializing in workflow automation and productivity applications, reported in September 2023 that over 80% of business executives accelerated the automation of work processes and expanded remote work usage. Approximately 43% of companies plan to cut their workforce by introducing automation technology. Hence, the escalating demand for automation and digitalization stimulates the growth of the field service management market.
What are the market segments in the field service management industry?
The field service management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Type: On-Premise, Cloud
3) By Application: Energy And Utilities, Telecom, Manufacturing, Healthcare, BFSI, Construction And Real Estate, Transportation And Logistics, Other Applications
Subsegments:
1) By Solution: Field Service Management Software, Scheduling And Dispatching Solutions, Mobile Field Service Applications, Inventory Management Solutions, Customer Relationship Management (CRM) Integration, Analytics And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Which leading companies are shaping the growth of the field service management market?
Major companies operating in the field service management market include Accruent LLC, Acumatica Inc., Comarch SA, FieldAware Group Ltd., Geoconcept SAS, Kirona Solutions Ltd., IFS AB, International Business Machines Corporation, Microsoft Corporation, Mize Inc., OverIT S. p. A, Praxedo SAS, Salesforce. com Inc., SAP SE, ServiceMax Inc., Trimble Inc., Zinier Inc., ServicePower Inc., Oracle Corporation, Accenture plc., Cisco Systems Inc., FieldEZ Technologies Pvt Ltd, ABB Ltd., Advanced Distribution Solutions Inc., AgileField LLC, ServiceTitan Inc., ServiceNow Inc.
What key trends are currently impacting the field service management market’s development?
Prominent firms in the field service management market are prioritizing technological advancements, such as AI-facilitated scheduling and mobile apps, to enhance operational effectiveness and optimize service delivery for field staff across various sectors. Workiz Genius is an inclusive platform for field service management that assists businesses in the home services sector to simplify operations, handle tasks, and enhance communication between field teams and clients. For example, in March 2024, Workiz, an American Software firm, launched ‘Genius,’ a user-friendly AI-fueled tool kit that revolutionizes the field service industry by effortlessly merging advanced technology with solutions that equip field service management professionals with a novel communication method with their clients and manage their businesses using AI. This adapts and learns, evolving into a personalized intelligent aide for users, offering beneficial suggestions and insights, and enabling service professionals to concentrate on their core competencies.
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Which geographic areas are influencing the growth of the field service management market?
North America was the largest region in the field service management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the field service management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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