Overview and Scope
Cloud field service management is a software solution designed to streamline and optimize field service operations by leveraging cloud computing technology. These services encompass a wide range of activities such as consultations, sales, repairs, maintenance, and customer support. This approach offers various benefits and considerations compared to traditional on-premises solutions.
Sizing and Forecast
The cloud field service management market size has grown rapidly in recent years. It will grow from $5.38 billion in 2023 to $6.21 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to increased cloud-based solutions, rise in the demand for mobility with iot, utilization of data analytics, utilization of data analytics, shifting focus towards enhancing customer experience.
The cloud field service management market size is expected to see rapid growth in the next few years. It will grow to $11.13 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to increasing industry 4.0 adoption, remote solutions, technological advancements, integration with AI and ML, mobile workforce management. Major trends in the forecast period include integration of AI, internet of things integration, cloud-based solutions, blockchain technology, continuous software updates.
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The cloud field service management market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size : Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) By Vertical : Manufacturing, Transportation and Logistics, Construction and Real Estate, Energy and Utilities, Healthcare and Life Sciences, Retail and Consumer Goods, Banking, Financial Services, and Insurance, Telecommunications and IT, Other Verticals
North America was the largest region in the cloud field service management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud field service management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing adoption of remote work is expected to propel the growth of the cloud field service management market going forward. Remote work is a form of work arrangement where employees perform their job responsibilities from a location other than the conventional office setting. The increasing adoption of remote work is due to numerous benefits such as cost savings for both employers and employees, work-life balance, and growing acceptance of non-traditional work arrangements. Cloud field service management provides the necessary tools and capabilities to support remote work by enabling accessibility, communication, monitoring, resource optimization, customer service, and flexibility. For instance, in September 2022, according to the United States Census Bureau, a US-based department, the number of people primarily working from home tripled from 5.7% (roughly 9 million people) to 17.9% (27.6 million people), according to the new 2021 census. Therefore, the increasing adoption of remote work is driving the growth of the cloud field service management market.
Key Industry Players
Major companies operating in the cloud field service management market are Microsoft Corporation, International Business Machine Corporation, Oracle Corp., Broadcom Inc., SAP SE, Salesforce Inc., Intuit Inc., ServiceNow Inc., Atlassian Corp., SolarWinds Corp., Work Wave LLC, Dispatch, ServiceMax Inc., Jobber, Cherwell Software LLC, Housecall Pro, Astea International Inc., Acumatica Inc., FieldEdge, FieldEZ Technologies Inc., FieldAware Inc., Mhelpdesk Inc., Kickserv Inc., MSI Data, Innovapptive Global Solutions Pvt. Ltd.
The cloud field service management market report table of contents includes:
1. Executive Summary
2. Cloud Field Service Management Characteristics
3. Cloud Field Service Management Trends And Strategies
4. Cloud Field Service Management – Macro Economic Scenario
5. Global Cloud Field Service Management Size and Growth
…..
32. Global Cloud Field Service Management Competitive Benchmarking
33. Global Cloud Field Service Management Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Field Service Management
35. Cloud Field Service Management Future Outlook and Potential Analysis
36. Appendix
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