The Global Field Activity Management Market size is expected to reach $2.3 billion by 2027, rising at a market growth of 16.3% CAGR during the forecast period.
Field activity management refers to the use of software, procedures, and communication solutions to manage field activities, including physical assets, associated people, and equipment. Field activity management software unifies and gathers data from mapping and scheduling, location data, and time and expense monitoring into a single platform, allowing for more efficient asset usage, visualization, tracking, and administration.
The key industry players would witness ample opportunities to expand their offerings due to the field activity automation and cloud-mobility integration, predictive analytics, and the rise of IoT and AI. In addition, field activity management solutions can offer information regarding product delivery, product inventory and dispatch, and work orders because of the integration of mobile capabilities. Moreover, this integration has also pushed field activity management companies to provide better, more affordable solutions to boost productivity.
Further, large enterprises and SMEs have benefited from improved service management solutions provided by cloud service providers. In field activities, the integration of Machine-to-Machine (M2M)-linked services and mobility is critical since it aids in the automation of work processes as well as real-time reporting based on analytics. This reduces human effort and allows tasks to be completed quickly.
While certain sectors are more likely to use field representatives as merchandisers, merchandising has a function in all parts of Field Activity Management. Moreover, field activity management solutions help to understand the aesthetics and science of effective product placement which demonstrates a commitment to customers and a brand and can aid in the growth of existing and new sales.
The global economy has been severely impacted by COVID-19. Energy, oil and gas, transportation and logistics, manufacturing, and aviation are among the financial and industrial sectors where the pandemic has had a large economic impact. As a result of the trillions of dollars lost, the global economy is anticipated to enter a recession. As a result of a rising number of countries implementing and prolonging lockdowns, economic activity is dwindling, which will have an influence on the global economy.
Every citizen and government in society, including the federal, state, central, local, and provincial governments, has been in constant contact with one another to supply and receive real-time COVID-19 information. Still today, many countries are witnessing constantly increasing COVID-19 cases, with multiple infected cases on the rise.
In the last few years, the global number of field technicians has increased remarkably and would continue to rise even during the forecast period. Field activity firms are recognizing the need of ensuring that all resources are utilized correctly for business purposes and that field workers/technicians are doing their assigned jobs properly. These firms may find this problematic because they are unable to follow the live-work location due to their actual absence on the job. By installing an appropriate field activity management solution that can be integrated with ERP, CRM, and other relevant systems established in the organization, it is possible to achieve maximum efficiency of business processes and better productivity among the providers.
Organizations are migrating from on-premises field activity management systems to cloud-based field activity management solutions in order to reap the benefits of this technology. Field activity management suppliers are increasingly focusing on offering SaaS-based solutions that help cut costs and achieve higher Return on Investment. In addition, field activities firms are recognizing the need to ensure that all resources are being used correctly for business purposes and that field workers/technicians are doing their assigned jobs efficiently. Moreover, the transition towards the cloud helps the companies to easily track the progress and ensures timely completion of allotted assignments. Hence, these aspects are expected to open new growth avenues for the overall field activity management market during the forecasting period.
The majority of field activity data is stored on corporate servers behind firewalls and security measures. Devices that access this data, on the other hand, are not protected in this way. Technicians' mobile devices are vulnerable to attacks, especially if they are connected to insecure Wi-Fi networks on the job. As the world becomes more digital, the number of cyberattacks has increased in tandem. As a result, data security has become a big concern for businesses. Companies have low knowledge of the necessity for cyber-specific procedures to protect their data. With the transfer of data from the field to the cloud, there is a considerable increase in cybersecurity issues, since malevolent parties can attack servers, networks, and communication channels.
Based on Component, the market is segmented into Solution and Services (Integration & Implementation, Consulting, and Training & Support). The services segment held a significant revenue share of the overall field activity management market in 2020. This is because these services are crucial in meeting the clients' unique requirements. These services assist in the cost-effective implementation of field activity management solutions in order to effectively complete business processes within the timeline and budget.
Based on Deployment Type, the market is segmented into Cloud and On-premise. In 2020, the Cloud segment obtained the largest revenue share of the field activity management market. By adopting cloud solutions, companies reap benefits like higher flexibility, scalability, affordability, operational efficiency, and reduced costs. Additional advantages of cloud-based systems include their efficiency when used by multiple users, lower upfront expenses, ease of implementation of new projects, no hardware investments, minimal maintenance costs, and reduced infrastructure costs. Hence, these factors would help the segment to witness higher demand during the forecasting period.
Based on Enterprise Size, the market is segmented into Small & Medium Enterprises and Large Enterprises. The Large Enterprises segment held a significant revenue share of the overall field activity management market in 2020. When it comes to assigning work orders to field workers and engineers, large enterprises face multiple issues. Work orders that aren't managed well by large businesses might result in higher expenses and lower productivity. Customer loyalty and market share may be lost as a result of this. Large companies are focused on field activity management solutions to centralize their business processes and essential data from their employees and consumers.
Based on Vertical, the market is segmented into Telecom, Construction & Real- Estate, Energy & Utilities, Manufacturing, Agriculture, Government, and Others. The telecom segment acquired the highest revenue share of the field activity management market in 2020. In the telecommunications industry, effective workforce management is a significant aspect in enabling process optimization and greater business efficiency. However, managing fieldwork ideally becomes considerably more difficult when there are a significant number of specialists in various disciplines and several geographic locations in various regions. This is where field activity management solutions come into play and help companies to manage different aspects related to field operations.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 915.9 Million |
| Market size forecast in 2027 | USD 2.3 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 16.3% from 2021 to 2027 |
| Number of Pages | 298 |
| Number of Tables | 543 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Type, Enterprise Size, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the leading region in the overall field activity management market during the forecasting period. Over the last few years, businesses have been implementing the field activity management solution on a big scale. This region has been very quick to implement the most recent technical innovations, such as field activities, cloud computing, and IoT, into businesses. Additionally, there has been a rise in the number of data breaches with the increase in the usage of field activities and BYOD preferences.
Free Valuable Insights: Global Field Activity Management Market size to reach USD 2.3 Billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; SAP SE is the major forerunner in the Field Activity Management Market. Companies such as Bentley Systems, Inc., Spatial Networks, Inc. and Canvas Solutions, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Repsly, Inc., Spatial Networks, Inc., ProntoForms Corporation, Canvas Solutions, Inc., SafetyCulture Pty Ltd., Field Safe Solutions, Inc., FieldWireLabs, Inc., Bentley Systems, Inc., Esri, Inc., and SAP SE.
By Component
By Deployment Type
By Enterprise Size
By Vertical
By Geography
The field activity management market size is projected to reach USD 2.3 billion by 2027.
Growing deployment of Cloud-based field activity management are driving the market in coming years, however, organizational security concerns around data confidentiality limited the growth of the market.
Repsly, Inc., Spatial Networks, Inc., ProntoForms Corporation, Canvas Solutions, Inc., SafetyCulture Pty Ltd., Field Safe Solutions, Inc., FieldWireLabs, Inc., Bentley Systems, Inc., Esri, Inc., and SAP SE.
The On-premise segment shows high growth rate of 14.4% during (2021 - 2027).
The North America is fastest growing region in the Global Field Activity Management Market by Region in 2020, and would continue to be a dominant market till 2027.
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