The Latin America, Middle East and Africa Field Service Management Market would witness market growth of 14.6% CAGR during the forecast period (2021-2027).
An advanced field service management (FSM) system is capable of offering the required planning, visibility, and implementation to fulfill the main objectives of a field service organization. Service order management, financial management, mobility, parts materials management, asset information management, service contract management, labor skills management, and reporting are the main functional areas of these solutions.
Original equipment manufacturers are increasingly shifting to the Industrial Internet of Things (IoT) for the latest services that need an advanced field service management system to manage field service delivery. This frequently involves technicians who are part of the distributor or dealer network. With the help of machine learning, service vendors can obtain a competitive edge and effective implementation needs an advanced file service management system.
In order to sustain in the highly competitive market, service providers are adopting different pricing strategies. With the help of advances in technology, software providers are deploying customer-centric pricing strategies. Based on the requirements of the customers and value perception, various FSM providers aim to offer value-based pricing models. The software solution pricing is dependent on the differentiating characteristics of the solution and the value-added features offered to the customers.
The region is still growing in terms of adopting advanced technologies, thereby making it conducive for the growth & demand for field service management solutions in the region. The next-generation FSM solutions are providing real-time visibility to field operations, work status, and field force that assists to reschedule and club tasks instantly to support sales and service efficiency. Thus, real-time visibility to field operations provides superior customer experience and business sustainability.
The low availability of a skilled workforce to operate field management service systems would hamper the growth & demand for these solutions in the region. Conversely, integration of next-generation such as AI, AR, and VR in the field services industry and increasing deployment of IoT boost the adoption rate of FSM solutions in the regional market. Hence, these factors are anticipated to boost the growth & demand for these solutions in the region.
The Brazil market dominated the LAMEA Small & Medium Enterprises Field Service Management Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $58.9 million by 2027. The Argentina market would witness a CAGR of 17.1% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 16.1% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Field Service Management Market is Predict to reach $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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