The cloud field service management global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Field Service Management Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Cloud Field Service Management Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Field Service Management Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the catenary infrastructure inspection market are focusing on technological innovation, such as AI-based monitoring systems, to identify real-time issues and anomalies. It utilizes artificial intelligence algorithms to analyze sensor data and imaging to enhance accuracy and efficiency in identifying potential issues. For instance, in November 2021, JR East, a Japan-based rail service company, introduced an AI-based monitoring system to enhance the quality of its overhead wire and catenary mast inspection processes. This technology is used with the Series E491 ‘East-i' monitoring train, which inspects track, signaling, and electrification systems on 1,067 mm gauge routes. The implementation of AI technology by JR East signifies a commitment to utilizing advanced solutions to ensure the reliability and safety of its rail infrastructure, reflecting the company's dedication to innovation and quality maintenance practices in the railway sector.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Cloud Field Service Management Market Report Structure
3. Cloud Field Service Management Market Trends And Strategies
4. Cloud Field Service Management Market – Macro Economic Scenario
5. Cloud Field Service Management Market Size And Growth
…..
27. Cloud Field Service Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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