Cloud Field Service Management (FSM) Market to Reach US$ 6.75 Billion by the Year 2032 at a Stellar CAGR of 11.2% in the Forecast Period 2022 to 2032

Published Via 11Press : The global cloud field service management (FSM) market was worth US$ 2.34 Billion in the year 2022 and is expected to reach US$ 6.75 Billion by the year 2032 at a whopping CAGR of 11.2% between 2022 and 2032.

The global cloud field service management market is basically driven by growing usage of cloud-based services and IoT throughout.

Cloud field service management does provide access to customers’ information from even remote location. Also, fuel expenses and operational overheads get reduced with better management of the mobile workforce. The large organizations make use of cloud field solutions for monitoring and managing workforce and activity on field. On these grounds, SAP SE does offer mServiceOrder (a field service management tool for organization). This app does extend support to the field technicians, that too, with real-time insights helping to solve the conflicts on an efficient note.

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At the same time, the fact that there is a dearth of operational effectiveness coupled with the other advantages offered by technologically advanced systems can’t be done away with. Plus, it’s challenging to maintain integration of FSM solutions that exist with cloud service management solutions. These factors could restrain the cloud field service management (FSM) market in the near future.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Cloud Field Service Management (FSM) Market’. It has its dedicated team of analyst and consultants to look through an eagle’s eye view in its primary, secondary, and tertiary modes of research.

“With rising awareness about the fact that implementation of cloud field service management solutions enhances operational processes, that too, without interruption, the global cloud field service management (FSM) market is likely to witness grandeur in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Cloud Field Service Management (FSM) Market

• North America holds more than 30% of the market share. This could be credited to the US housing majority of cloud field service providers around the world. Rapid technological advancements are there to add.
• Europe holds ~20% of the market share due to an ever-increasing demand for efficient computing frameworks by SMEs herein.
• The Asia-Pacific is expected to witness maximum turbulence in cloud field service management (FSM) market in the forecast period. This could be reasoned with regions like China, Japan, and India witnessing a rising demand for cloud field service management solutions to achieve improvised productivity and optimized workflow. The IQ (Innovation Quotient) is another factor to add.

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Competitive Analysis

• Commvault, in June 2022, strategically partnered with Oracle for including Metallic DMaaS on Oracle Cloud. The latter’s services would be offered on OCI (Oracle Cloud Infrastructure) and made available in every commercial OCI region at the global scale.
• ServiceMax, in April 2022, did announce releasing new-fangled features for Asset 360 for Salesforce. As such, this would help in empowering the CXOs.
• IFS AB, in March 2021, tabled IFS Cloud for helping customers in integrating human capital management, ERP, CRM, and asset management for delivering improvised field services.
• ORTEC, in March 2021, did launch cloud-based field service with dispatching and scheduling software for monitoring and accessing operations on continuous basis.

Key Segments Profiled In The Cloud Field Service Management (FSM) Industry Survey

by Component:

• Mobile
• Inventory
• Work Order
• Service Project
• Other

by Services:

• Consulting Services
• Integration and Migration
• Support and Maintenance

by Enterprise type:

• Small and Medium Business Enterprises
• Large Enterprises

by Region:

• North America
• Latin America
• Europe Cloud
• Asia Pacific
• Middle East and Africa

For more Insights Click Here: https://www.futuremarketinsights.com/reports/cloud-field-service-management-market

What does the Report service?

• The research study is based on components (mobile cloud field service management, inventory cloud field service management, work order cloud field service management, service project cloud field service management, and other cloud field service management components), by services (cloud field service management consulting services, cloud field service management integration and migration, and cloud field service management support and maintenance), and by enterprise type (cloud field service management for SMEs and cloud field service management for large enterprises).
• Call for enhanced experience on the part of consumers is expected to drive the cloud field service management (FSM) market in the forecast period.

Explore Wide-ranging Coverage of FMI’s Technology Landscape

Field Service Management Market:  is expected to advance at a sturdy CAGR of 11.4% during the forecast period. The market is expected to cross the mark of US$ 12.2 billion by 2033. In 2023, the valuation is expected to be at US$ 4.2 billion.

Cloud Services Market: is expected to be valued at US$ 564.4 billion in 2022. The market is predicted to grow at a 20.5% CAGR from US$ 678.8 billion in 2023 to US$ 4.4 trillion by 2033.

PCB Design Software Market: s projected to exhibit striking growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is anticipated to cross a valuation of US$ 4,041.4 million in 2023. 

Telematics-based Auto Insurance Market: is anticipated to generate revenues of US$ 2,513.9 million in 2023. Demand is anticipated to increase at a CAGR of 18.7% and reach US$ 13,998.3 million by 2033.

Data Warehouse as a Service (DWaaS) Market:  is may reach US$ 5,484.9 million in sales. By 2033, demand is likely to expand at a CAGR of 22.4% and reach a value of US$ 41,511.6 million.

About FMI

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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