The Europe Field Service Management Market would witness market growth of 10.7% CAGR during the forecast period (2021-2027).
The Field Service Management solutions provide assistance in workforce management and are hence highly adopted among the companies. Thus, end-use industries are increasingly adopting FSM solutions. When FSM is deployed in a company, it offers support to its workers and other factors like employee work status, performance, and customer & inventory management. By eliminating the need for field surveys, the software performs the required work and offers updated information. It also provides training to the workers.
An IT infrastructure of a company is used to install and host on-premises solutions and the company’s internal IT staff manages these solutions. These solutions need high initial investment by companies; however, they do not need incremental costs during the ownership of these solutions, unlike cloud deployment. They restrict the reliance of organizations on third-party applications that can become a risk to the confidential information of end-users. The easy integration with the current IT infrastructure and systems is high in comparison to the cloud deployment type.
Companies are opting for the cloud because of easy operations and improved scalability. Cloud-based field service management solutions are supported by the surge in the adoption rate of mobile devices. These solutions are beneficial to optimize the real-time workforce in spite of employee location. Field service companies are increasingly deploying cloud-based solutions as it provides various advantages like decreased physical infrastructure, low maintenance cost, and 24/7 data accessibility at any place and at any time. Higher storage, flexibility, scalability, portability, and compliance are some additional advantages.
The presence of many developed as well as developing countries in the region is likely to foster the growth of the regional field service management market in the years to come. Companies operating in the region are putting efforts to offer consumers with world-class facilities, thereby making sure that their field technicians get access to correct information and tools at a suitable time in order to resolve consumer issues. Consumers’ purchasing behavior and preferences are constantly changing due to the increased internet penetration, mobile devices, and communication devices.
Moreover, companies are implementing field service management solutions in order to fulfill ever-changing customer requirements. The higher demand to boost productivity and cut down operation costs are motivating many regional players to adopt FSM solutions in order to improve customer experience, with customer demands and the logistics of managing field teams are constantly getting more and more complex. Thus, these aspects are likely to create lucrative growth opportunities for the players operating in the regional field service management market during the forecasting period.
The Germany market dominated the Europe Field Service Management Work Order Management Market by Country 2020, thereby, achieving a market value of $55.2 million by 2027. The UK market is showcasing a CAGR of 7.8% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 9.4% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated across Schedule, Dispatch, & Route Optimization, Work Order Management, Inventory Management, Customer Management, Reporting & Analytics and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Manufacturing, Transportation & Logistics, Construction & Real Estate, Healthcare, Telecom & IT, Energy & Utilities and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Field Service Management Market Size will Hit $7 Billion by 2027, at a CAGR of 11.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc., Tata Consultancy Services Ltd., Tech Mahindra Limited, Trimble, Inc., Comarch SA, and Infor, Inc. (Koch Industries).
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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