Global Field Service Management (FSM) Market Analysis & Outlook 2018-2023 - Growth in SaaS-Based FSM Solutions is the Key Driver - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Field Service Management (FSM) Market - Segmented by Deployment Type, Solution, Services, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global Field Service Management (FSM) was valued at USD 2.39 billion in 2017 and is expected to reach a value of USD 5.39 by 2023 registering a CAGR of 14.4% during the forecast period (2018-2023).

Growth in SaaS-based FSM solutions is one of the primary drivers of the field service management market. Increase in the adoption of wearable devices and mobile apps among field workers is expected to fuel the demand for FSM market.

The growth of technologies, including big data, cloud, and advanced analytics support the integration of mobility and cloud with FSM software. The rising need to differentiate services, increase customer satisfaction, lower the labor costs, and improve overall efficiency and productivity transcends business size, particularly in highly competitive markets. This makes it essential for field organizations to implement FSM solutions leading to the growth of the market.

The rise in demand for field operations across different end-user industries is expected to further fuel the market over the forecast period. Lack of skilled workforce in feeding real-time data into field service management software is hampering the market growth.

Growth in Demand for SaaS-based FSM Solutions

Software-as-a-Service has lowered the cost of risk and entry into the business, which significantly expands the adoption into earlier underserved areas. Further, companies from end-user industries, such as IT, BFSI, telecom, etc., are adopting the SaaS to obtain the new features in current solutions and avoid the pain and excuse of frequent upgrades.

With the increase in cloud computing in field service management, numerous enterprises are choosing to implement their software solutions off-site. These enterprises are shifting to cloud-based FSM solutions as it eases the burden on IT department and also allows the external service providers to offer support and maintenance to their users.

SaaS-based solutions provide scalability and bring robust functionality to many SMB(Small- & Medium-sized business) at a lowest total cost of ownership. The rapid adoption of these solutions by SMB is expected to further boost the market growth over the forecast period.

Major Market Developments

• SAP SE is extending its field service management with AI-based crowd service. With this unique and innovative crowd service approach, SAP is expected to revolutionize field service and lead the Uberization of field service. Companies can multiply their available field service resource and offer better and much faster customer service on demand.
• Astea International Inc, a leading provider of field service management and mobility solutions, announced that the company will be showcasing its upcoming Alliance Field Service Management and Mobility platform at Field Service Forum in Amsterdam. This is expected to be the most transformative software version release to date for Astea's flagship product.

Key Topics Covered

1. Introduction

1.1. Key Deliverables of the Study

1.2. Market Definition

1.3. Study Assumptions

2. Research Methodology

3. Executive Summary

4. Market Insights

4.1. Structural Electronics Market Overview

4.2. Industry Attractiveness - Porter's Five Forces Analysis

4.3. Technology Roadmap

5. Market Dynamics

5.1. Factors Driving the Structural Electronics Market

5.1.1. Improvements in 3D Technology

5.1.2. Emerging Need for Lightweight, Compact, Cost-effective Products

5.1.3. Rise of IoT

5.2. Factors Restraining the Structural Electronics Market

5.2.1. Lack of Technological Awareness

6. Global Structural Electronics Market Segmentation

6.1. Structural Electronics Market By Component Type

6.1.1. Battery

6.1.2. OLED Display

6.1.3. OLED Lighting

6.1.4. Photovoltaic

6.1.5. Sensor

6.1.6. Other Component Types

6.2. Structural Electronics Market By Application

6.2.1. Automotive

6.2.2. Aerospace

6.2.3. Consumer Electronics

6.2.4. Other Applications

6.3. Structural Electronics Market By Region

6.3.1. North America

6.3.2. Europe

6.3.3. Asia-Pacific

6.3.4. Middle East & Africa

6.3.5. Latin America

7. Structural Electronics Market Comapnies

7.1. TactoTek Oy

7.2. PBC Tech Co.

7.3. Boeing Co.

7.4. Canatu Oy

7.5. Neotech AMT GmbH

7.6. Molex LLC

7.7. T-ink Inc.

7.8. Faradair Aerospace UK

7.9. Toyobo Co. Ltd.

7.10. Panasonic Corporation

List not Exhaustive

8. Structural Electronics Market Investment Analysis

9. Future of the Global Structural Electronics Market

For more information about this report visit https://www.researchandmarkets.com/research/5ljf2w/global_field?w=4