WBR Insights Study Finds Wearables, Big Data and Other Emerging Technologies Gaining Traction for Field Service Management

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Only 25% of companies cite additional ROI from their implementation, still lack access to critical real-time data.

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A new study from WBR Insights (the custom research division of Worldwide Business Research) found that emerging technologies including the Internet of Things (IoT), artificial intelligence (AI), and wearables have begun to show tangible results for companies in regards to their ability to provide excellent field service, including the ability to provide more pre-emptive service (64%) and access to greater information for technicians in the field.

Produced by and in cooperation with Astea, PTC, IFS, and Honeywell, the 2019 report titled “Emerging Technologies in Field Service: Driving Real Solutions and Better Business Outcomes”) explores these subjects in four critical technology categories—IoT, augmented reality, AI & machine learning, and FSM technologies, and provides a key benchmark for how these technologies are improving results for customers, service teams and businesses overall.

Key findings from the study include:

  • 64% of companies surveyed have transitioned from a reactive to a 100% predictive or preemptive service model as a result of implementing big data analytics and IoT technology.
  • 67% of companies have increased technicians’ access to critical knowledge while in the field using augmented reality and wearables, and 79% citing the ability to successfully connect them with seasoned service experts.
  • 74% of companies lack real-time data concerning critical service capacities
  • Only 25%-35% attribute additional revenue to their use of any technologies in the study

“Field service teams are making heavy investments in cutting-edge technologies in every capacity, whether it’s optimizing dispatch or improving service visits using augmented reality,” says Jonathan Massoud, Field Service Analyst and Director, Worldwide Business Research. “But it’s still very much a race to the top in terms of who can differentiate themselves in these capacities; and more importantly, who can align those capabilities with creating new revenue. That’s going to be critical from both a practical and an investment standpoint.”

The full report is available for download here. For more information about WBR’s events and related research, please visit https://www.wbresearch.com/.            

About WBR Insights
WBR Insights is the custom research division of WBR (Worldwide Business Research), the world leader in B2B focused conferences. From research-based whitepapers to benchmarking reports, infographics and webinars, our mission is to help global institutions across a variety of industries to inform and educate their key stakeholders while achieving their strategic goals. For more information, please visit http://www.wbrinsights.com.

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George Morin
@fieldservicewbr
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