Cloud Field Service Management (FSM) Market by Component, Services, Enterprise Size & Region - Forecast 2022 to 2032
The market for cloud-based field service management (FSM) is expected to reach US$ 2,340.0 million in 2022 and is projected to grow at a CAGR of 11.2% to reach US$ 6,752.0 million by 2032. The demand for better customer service and customer engagement is credited with driving growth. A CAGR of 10.3% was recorded for the market for biscuit mixes between 2016 and 2021.
To improve their operational procedures and continue to meet customer needs, businesses are implementing cloud field service management solutions. Due to the ongoing increase in consumer spending habits, cloud-based service management solutions are primarily used in the retail industry.
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Cloud Field Service Management (FSM) Market: Drivers and Restraints
Rising need to enhance enterprise operational productivity with minimised cost through cloud field service management solutions is turning to be the major driving factor of the cloud field service management market. The enterprises are aiming to offer improved customer service experience and customer engagement by implementing these solutions, which is also turning to be a major factor contributing to the growth of cloud field service management (FSM) market. Moreover, the emergence of IoT technology will have a positive impact on the growth of Cloud field service management market.
Maintaining integration of existing Field Service management with cloud service management solutions is the major challenge faced by most of the vendors in cloud field service management (FSM) market.
Market Competition
Some of the key participants present in the global cloud field service management market include
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Salesforce.Com, Inc., SAP SE, Oracle Corporation, IBM Corporation account for considerable market size, several regional level players are also operating across key growth regions.
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Global Cloud Field Service Management (FSM) Market: Regional Outlook
On the basis of geography, Cloud Field Service Management (FSM) market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the Cloud Field Service Management (FSM) market in North America is expected to dominate during the forecast period owing to the increasing demand of efficient computing frameworks by small and medium size business enterprise. North America region is expected to be followed by Western Europe, and APAC.
Key Segments Profiled In The Cloud Field Service Management (FSM) Industry Survey
Cloud Field Service Management (FSM) Market by Component:
Cloud Field Service Management (FSM) Market by Services:
Cloud Field Service Management (FSM) Market by enterprise type:
Cloud Field Service Management (FSM) Market by Region:
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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Mar 20, 2023
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