Field Service Management Software
Business for Sale Industry Economics
2002 - 2020
2020 - 2026
The Field Service Management Software industry develops software used by businesses to coordinate and dispatch field service personnel.
The largest buyers of field service management (FSM) software are manufacturers and telecommunications companies, and wholesalers and retailers.
Several research surveys suggest that the major buyers of FSM software are small- and medium-sized businesses (SMB) that find that the services provided by this software boost operational efficiency.
Although larger companies may be able to develop technology in-house, SMBs often rely on third-party industry operators.
The Field Service Management Software industry develops software designed to help businesses coordinate and dispatch field service agents.
Agents are technicians that install, service and repair equipment or systems located at a customer’s business or home.
Field service management (FSM) software is designed to increase efficiency in the handling of administrative and scheduling tasks to ensure field service operations run smoothly.
In addition to managing field service personnel, FSM software also manages the tools, spare parts and equipment required for maintenance and the interaction between technicians and customers.
The research anticipates that revenue for the Field Services Management Software industry will likely return to strong growth over the five years to 2025.
Industry demand will likely recover quickly from subdued levels reached in 2020 as the effects of the COVID-19 (coronavirus) outbreak are left behind.
Field services will likely continue to play an important role in bringing added value to companies’ product and service offerings, pointing to underlying stability in the industry’s major markets.
This factor is expected to lead to increased demand for field service management (FSM) software as more companies use software tools to improve their own business practices.
Overall, the research currently forecasts that industry revenue will grow at an annualized rate of 10.5% to $2.6 billion over the five years to 2025.
Companies in this industry develop and publish software designed to assist in the tracking and dispatching of field service technicians and the dissemination of appropriate data to those technicians.
Software developed by this industry can track inventory and help automate fleet dispatch assignments.