04 Mar Top Reasons for Field Service Management Software Adoption
The Field Service Management market is predicted to see enormous growth in the next few years. Software, like Field Service Lightning, can revolutionize how a company operates its field service team, and the software impacts everyone involved in the field service process.
- The Company – Field Service Management Software can improve operations and provide more efficient business processes from a dispatching and scheduling perspective. Field service managers can plan better and oversee effective communications.
- The Technicians – With the right field service software, technicians can have everything they need at their fingertips, improving visibility and productivity; work order details, time tracking, tech support, part orders and more.
- The Customer – Improvements for the company and technicians only help to improve the overall customer experience. With software to improve planning, communication, and service plans, the customer gets a seamless experience.
So why is the field service market expected to grow so much? Here’s a look at the reasoning behind this prediction.
What are the Expected Forces Behind the Purported 100 Percent Growth of the FSM Market Size by the End of 2024?
It goes without saying that mobility solutions are growing in popularity and this is expected to be the driving force behind the global adoption of Field Service Management, in the next few years to come. In addition to that, the skill sets, emphasis on productivity, and growth of advanced technology are also the existing forces capable of driving FSM growth in the next five years or so.
Based on reports released by credible sources, the existing ‘Field Service Management’ Market is soon expected to experience a massive growth, according to the Global Forecast that extends up to 2024. Needless to say, this doesn’t come as a surprise that the Globally Existent FSM market size will grow up to USD 5.9 billion from an already decent mark of 2.8 billion. The purported CAGR of 16.2 percent might seem a bit ambitious during the forecast period but there are quite a few factors that could make sure that assumptions are realistic.
The existing forces include promptness of customer services, enhanced efficiency pertaining to the employees and field technicians, and better communication between customers and technicians. However, security concerns regarding data confidentiality remain which in a way can hinder the overall growth and target achievement.
Field Service Management, without a doubt, is expected to impact quite a few entrepreneurial aspects, including the ones focussed at logistics and transportation. The CAGR figures for these segments are the highest and require additional skills to get fulfilled. Moreover, it has come to our attention that businesses relying on Field Service Management software are already deploying a set of computer-based skills and technologies for making the FSM landscape better, from an automation point of view. Slowly, but steadily, firms are also putting additional emphasis on modern logistics for making FSM a more inclusive strategy.
What is Driving Increased FSM Adoption?
Increased technician visibility is one reason why companies are slowly getting to incorporate FSM with diverse organizational aspects, including transportation, logistics, and equipment selection. This is slowly but steadily increasing operational efficiency as it is becoming easier for the companies to plan capacity, tracking location, and schedule shifts, if and when required.
Therefore, throughout the forecast period, we can expect the CAGR figures to emphasize on the inclusion of FSM as the go-to technological mode courtesy of the continuing role in the implementation and integration services.
Moreover, based on reports, even system integrators are deploying the operational functionalities of the existing system while establishing increased connectivity between people, data, devices, and applications, pertaining to FSM adoption.
Field service management solutions are sought-after and if and when the forecast period is over, the purported figures would allow a larger number of technicians to perform specific tasks with ease, accuracy— resulting in better satisfaction for the customers.
The Ultimate Field Service Management Software
Salesforce Field Service Lightning is a great way for field service teams to enhance business operations. At Nubik, our team of field service specialists have helped numerous companies implement Field Service Lightning based on their specific needs.
These projects have seen an 83% increase in worker productivity, 55% faster response times, and new revenues. Learn more about Field Service Lightning and how Nubik can help you implement field service best practices.