The industry will benefit as companies digitize a greater share of their operations to improve efficiency.
New York, NY (PRWEB) April 29, 2014
The Field Service Management Software industry develops software that businesses use to coordinate and dispatch field service personnel. The largest buyers of field service management (FSM) software are manufacturers, telecommunications companies and wholesalers and retailers. Several research surveys, including one conducted by technology consulting firm Technology Evaluation Center, suggest that the major buyers of FSM software are small and medium-size businesses that find that the services provided by this software boost operational efficiency.
With a wide potential customer base across many industries, as well as a compatibility with companies of different sizes, the industry has amassed a growing number of users. Furthermore, overall spending on software has been on the rise as companies push to digitize a greater share of their operations in order to improve efficiency. Private investment in computers and software has increased an annualized 4.2% in the past five years, with much of this investment put toward business analytics software. According to IBISWorld Industry Analyst Will McKitterick, “Industry operators have responded to this growing demand, and increasing sales have led revenue to grow an estimated annualized 10.2% to $707.1 million in the five years to 2014, including an 8.9% bump in 2014.”
The next five years are also expected to bring healthy growth for the industry. “The industry's client base of manufacturers, telecommunications providers, distributors and construction companies is here to stay; these industries will continue to go into the field to service machinery and equipment, and the desire to increase efficiency will remain,” says McKitterick. Industry operators will continue to develop FSM software, and they will increasingly incorporate new products into the broader sphere of technological improvements. Trends like “bring your own device” (BYOD), whereby workers use their personal electronic device, will become increasingly popular, allowing users to access FSM software from a variety of platforms. As the industry's product offerings become better established, the industry will continue to grow.
For more information, visit IBISWorld’s Field Service Management Software in the US industry report page.
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IBISWorld industry Report Key Topics
Companies in the Field Management Software 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.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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