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$3.61 Billion Field Service Management Market by Solution, Service, Deployment Type, User Type, Industry Vertical & Region - Global Forecast to 2021 - Research and Markets

[March 21, 2017]

$3.61 Billion Field Service Management Market by Solution, Service, Deployment Type, User Type, Industry Vertical & Region - Global Forecast to 2021 - Research and Markets

Research and Markets has announced the addition of the "Field Service Management Market - Global Forecast to 2021" report to their offering.

The FSM market size is expected to grow from USD 1.78 billion in 2016 to USD 3.61 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.1%.

The FSM market is driven by factors such as need for a centralized system for the management of field services, need for real-time collaboration, along with the ever-evolving demand for increasing operational efficiency and reducing operational costs. However, security concerns with respect to access to confidential data and lack of awareness about the benefits of FSM solutions limit the growth of the market.

Asia-Pacific (APAC) includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying FSM solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing numbe of cloud service providers, investments in infrastructure, smartphone users, and many emerging industries in the region. The North American region is expected to be the largest revenue-generating region for FSM solution and service providers in 2016. This is due to the high focus on innovation and technology adoption, especially in the developed economies of North America.

Companies Mentioned