Field Service Management Market to Be Worth $9.17 billion by 2030

Research firm MarketsandMarkets valued the global field service management market at $5.1 billion today and expects it to reach $9.17 billion by 2030, growing at a compound annual rate of 12.5 percent.

This growth, the firm said, is being driven by the growing demand for operational efficiency and enhanced customer satisfaction across various industries.

Among the rising technological innovations affecting the market are the rise of cloud-based platforms and mobile technologies that enable real-time tracking, better scheduling, and resource management, as well as the integration of advanced technologies, such as artificial intelligence and IoT that support predictive maintenance, remote diagnostics, and automation, leading to greater technician productivity and faster issue resolution.

Subscription-based and SaaS models also have made FSM solutions more accessible to companies of all sizes.

Growing customer expectations for rapid and transparent service delivery further increase the deployment of field service management, according to the research.

The market is also supported by vertical-specific innovations and partnerships that enhance scalability and customization options, it said.

The top companies in field service management are Oracle, Microsoft, Salesforce, IFS, SAP, Infor, Trimble, Comarch, OverIT, and PTC, according to MarketsandMarkets.