Field Service Management Market to Register Substantial Expansion by 2024

MarketsandMarkets expects the global field service management market size to grow from USD 2.8 billion in 2019 to USD 5.9 billion by 2024, at a CAGR of 16.2% during the forecast period. The growing demand for mobility solution to gain real-time visibility into field service operations and increasing adoption of cloud-based field service management solution are driving the growth of the field service management market across the globe. Field service management solutions are gaining traction globally as they enable organizations to increase the productivity of field technicians and deliver prompt service to customers.

Field service management solutions can be easily integrated with the existing systems of an organization, thereby providing enhanced ability to adapt to changes and increase the efficiency of field operations. The growing focus of organizations to improve and automate field service processes is driving the demand for field service management solutions across industries in the global market.

Field service management solutions are needed by both large enterprises and Small and Medium-sized Enterprises (SMEs) to enhance the performance of their field service processes. By organization size, the SMEs segment is expected to grow at a higher CAGR during the forecast period as compared to the large enterprises. SMEs face some specific challenges, such as the requirement of domain-specific personnel and skilled workforce, budget constraints, and limited economies of scale. SMEs are investing in implementing cloud-based field service management solutions to enhance the efficiency of their field operations and compete with large organizations.  

Ask For PDF Brochure-

The transportation and logistics industry vertical is expected to be the fastest-growing segment in terms of adoption of field service management solutions and services during the forecast period. This industry constantly suffers from a lack of visibility into field operations. Moreover, the unpredictable nature of fuel costs, rising labor rates, increased traffic, and a changing regulatory environment, continue to make operations challenging. This makes the adoption of field service management solutions imperative in this industry. With the right field service management solution in place, enterprises can connect their field workforce across a centralized cloud network, and capture and share their mission-critical data, allowing them to gain real-time visibility of their operations.

Organizations are investing strategically by implementing field service management solutions and services to make timely decisions and reduce service delays through quicker detection of issues. Moreover, these solutions are looking forward to capitalizing new opportunities by leveraging various advanced technologies, such as analytics, machine learning, and artificial intelligence.

Speak to our Research Expert @

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Shelly Singh

MarketsandMarkets™ INC.630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441


MnM Blog: Visit Our Website: