Field Service management (FSM) is at its growing stage and is expected to rise exponentially due to enhancement of technology in this sector. Today, companies are demanding real-time based solutions for the field workers, so that they can accomplish their task without any delay or interruption. Also, organizations are in need of solutions that can solve their specific demands that CRM and ERP failed to do - thus FSM is becoming quite popular among the field technicians. Furthermore, the increasing demand of low cost solutions among large enterprises as well as SMB's is also helping FSM market to progress - with an explosive growth rate. FSM provide assistance to businesses in improving their efficiency and productivity by offering proficient solutions such as work order management, inventory management, customer management, reporting, and billing and invoicing. These solutions are gaining traction in various industry verticals such as construction, oil and gas, security and alarm, transportation, and healthcare to name a few.
The FSM market is consolidated with big players such as Oracle, IBM, SAP, Click Software Technologies, Trimble Navigation, As tea International, PTC, In for, IFS, and Service Power. The factors driving this market are the escalating demand for enhanced productivity, growing demand for improved customer satisfaction, and mounting field service operation costs.
Lack of awareness about field service solutions, is the major restraint for the growth of FSM market. The organizations are adopting field service solutions but at a slow pace. Companies preferably use ERP, CRM or Enterprise asset management solutions instead of field service solutions due to lack of awareness about FSM solutions.
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