Between 2020 and 2021, due to the global pandemic, the field service industry has faced a lot of uncertainties. Now, as the world is recovering from COVID-19, the sector is now rapidly growing.
In response to the demand of the industry and consumers, field services are fast adopting digital transformation. The field service market is growing at an increased pace. It’s the process of how relevant firms manage their field operations by their strategic segregation for improved customer satisfaction. It also helps improve the efficiency and productivity of field service operators.
Below are the key insights gathered around the field service management industry. Take a look at the market size, newest and emerging technologies, consumer trends, etc.:
- The field service management sector may grow by a CAGR of 11%. At this rate, the market can hit the value of $5.1 billion by 2025. (Marketsandmarkets)
The most important factors that encourage the growth of the field management industry include the rising need for IoT-induced mobility, predictive analytics, and inclination towards cloud services.
Large businesses are now adopting field service management solutions to manage their business processes, workforce, and clients.
The survey conducted by Verizon Connect finds that quickly rerouting technicians and keeping the team updated are the biggest everyday operational challenges.
- Nearly 51% of fleet management organisation utilises FSM software. At the same time, 52% of these firms integrate FSM into their fleet tracking software programs. (Verizon Connect)
- Nearly 89% of clients want advanced on-demand technology applied to their technician scheduling. Most of them are even willing to pay for it. (ReachOut)
Digital transformation is one of the most popular and recommended ways to fill the gap between how companies functions and the experience customers expect from them.
- FSOs should explore remote or contactless service as 75% of customers don’t prefer having field technicians in their homes amid the pandemic. (CustomerThink)
Having recognised the need for an alternative to service delivery, more and more field service operators are opting for contactless services to serve people without stepping into their homes.
Hopefully, these valuable insights into the field service management market will help shape and strengthen your business for the future.
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