Technology

Field Service Management (FSM) Software Market size is set to grow by USD 1.890.3 million from 2024-2028, Various pricing strategies by vendors to boost the market growth, Technavio

Published

6 months ago

July 10, 2024

NEW YORK, July 10, 2024 /PRNewswire/ — The global field service management (FSM) software market size is estimated to grow by USD 1.89 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 14.27% during the forecast period. The rapid growth of the FSM market is primarily driven by increasing adoption of advanced technologies like predictive analytics, aimed at enhancing operational efficiency and customer satisfaction. Vendors are leveraging various pricing strategies to attract customers, contributing to market expansion. Despite challenges such as high deployment costs, the market benefits from robust demand across industries seeking to optimize field operations. Key players such as Salesforce, SAP, and Oracle are pivotal in shaping industry dynamics with innovative solutions.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (IT and telecom, Healthcare, Retail, Transportation and logistics, and Others), Deployment (On-premise and Cloud-based), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Advanced Computer Software Group Ltd., Comarch SA, FieldAware Group Ltd., FieldEZ, Fortive Corp., GeoConcept SAS, IFS World Operations AB, Infor Inc., Microsoft Corp., MSI Data LLC, Oracle Corp., OverIT Spa, PTC Inc., Salesforce Inc., SAP SE, ServicePower Inc., Simpro Group, Syncron Holding AB, Trimble Inc., and Zinier Inc.

Key Market Trends Fueling Growth

After-sales service is essential for businesses to maintain profitable maintenance contracts and foster long-term customer relationships. Traditional maintenance schedules may not be optimal due to unpredictable factors affecting equipment performance. Predictive analytics integrated into Field Service Management (FSM) software is revolutionizing the industry. By analyzing equipment data, these solutions identify potential failures before they occur, enabling proactive maintenance and reducing downtime. This enhances product quality, increases customer satisfaction, and lowers costs. Predictive analytics is a key trend in the global FSM software market, expected to drive growth during the forecast period.

In today’s business landscape, Field Service Management (FSM) software has become a must-have tool for managing mobile workforces. Trends in FSM include real-time access to critical data, integration with back-end systems, and collaboration tools for field technicians. Customer data and service history are essential for providing excellent service and resolving complex issues efficiently. Mobile devices and cloud-based, subscription-based offerings enable real-time communication and updates for job assignments, information sharing, and problem resolution. Advanced FSM solutions offer augmented reality for real-time guidance and expertise, improving productivity and reducing costly return visits. Integration complexity, talent shortage, and economic uncertainty are challenges for businesses. Digital transformation and mobile-based FSM solutions offer cost-effective alternatives, but security concerns, such as data confidentiality and data breaches, must be addressed. Communication, collaboration, and compliance are crucial for operational efficiency, and mobile technology, such as tablets, are essential tools for field technicians. In conclusion, FSM software trends focus on real-time access, collaboration, and integration to improve operational efficiency, productivity, and customer satisfaction. However, businesses must consider the challenges of integration complexity, talent shortage, and economic uncertainty while addressing security concerns and ensuring compliance.

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Market Challenges

The global field service management (FSM) software market faces challenges due to the high cost of implementation. This expense includes software licensing, implementation and training costs, maintenance, system design, and customization. After implementation, continuous upgrades are necessary to remain competitive, leading to additional costs. Complex software suites, offering features like scheduling and dispatch, resource capacity planning, service contract management, warranty management, and work order management, come with substantial price tags. Vendors such as ServicePower and Oracle provide integrated solutions with mobile field execution, customer management, reporting and dashboards, inventory management, billing and invoicing, and tracking and performance management. However, updating these comprehensive software suites demands significant investments. Consequently, small enterprises may be deterred from adopting FSM solutions, potentially hindering the growth of the global FSM software market.FSM software market is witnessing significant growth due to the increasing need for efficient field operations in various industries like Construction and Energy & Utilities. Challenges such as service contracts, warranty costs, inventory management, and data analysis are being addressed through advanced FSM solutions. Cloud-based platforms offer scalability and flexibility, making them popular choices for large enterprises. Industries like Healthcare, Manufacturing, Transportation & Logistics, Retail & Wholesale, and End-Use Industries rely on FSM software for improved workforce productivity and customer experiences. The latest trends include mobility, machine learning, artificial intelligence, and Internet of Things for predictive maintenance, remote diagnostics, intelligent scheduling, and more. On-premise deployment is still prevalent in some organizations, but the shift towards cloud-based solutions is evident. Cloud-based FSM platforms offer real-time data access, enabling organizations to make informed decisions and enhance their service delivery. Overall, FSM software plays a crucial role in optimizing field operations and reducing operational costs.

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Segment Overview

This field service management (fsm) software market report extensively covers market segmentation by

End-user 1.1 IT and telecom1.2 Healthcare1.3 Retail1.4 Transportation and logistics1.5 OthersDeployment 2.1 On-premise2.2 Cloud-basedGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 IT and telecom- Field service management software plays a vital role in the efficient operation of IT and telecom companies by streamlining their field service processes. This software automates workflows, optimizes resource allocation, and ensures the right expertise is dispatched for complex tasks. With a large portion of IT and telecom services being provided remotely, field service management software facilitates efficient remote service management, enabling real-time communication and remote troubleshooting for technical support teams. Meeting customer demands for prompt and efficient service delivery is crucial in these industries, and field service management software enables faster response times, accurate service scheduling, and effective issue resolution. Additionally, optimizing the utilization of technicians is essential, and this software improves workforce productivity, minimizes travel time, and ensures the right technicians are assigned to specific tasks. Compliance with service level agreements (SLAs) is critical in IT and telecom, and field service management software enables companies to monitor SLA compliance, take proactive measures to meet commitments, and maintain high service quality. These factors are expected to drive the adoption of field service management software, contributing to the growth of the IT and telecom segment of the global field service management software market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Field Service Management (FSM) software market is experiencing significant growth due to the increasing demand for efficient and effective field operations in various industries. FSM solutions enable organizations to streamline service delivery, enhance workforce productivity, and improve customer experiences. Artificial intelligence and machine learning are revolutionizing FSM by enabling predictive maintenance through the Internet of Things. Predictive maintenance helps organizations in sectors like Telecom, Oil and Gas, Construction, Energy and Utilities, and Manufacturing to minimize downtime and reduce maintenance costs. Cloud-based FSM systems offer Big Data analysis capabilities, enabling data-driven decision-making and real-time service contract management. Inventory management and warranty costs are also crucial aspects of FSM, and advanced solutions provide real-time visibility and control. Workforce management and mobility are essential features for organizations looking to optimize their field operations. On-premise deployment is still an option for large enterprises, but the trend is shifting towards cloud-based solutions. Overall, FSM software is transforming field operations by providing real-time data analysis, predictive maintenance, and improved workforce productivity.

Market Research Overview

Field Service Management (FSM) software solutions have become essential for organizations to manage and optimize their field operations, improving workforce productivity and delivering superior customer experiences. Advanced FSM platforms leverage technologies such as artificial intelligence (AI) and machine learning (ML) to predict maintenance needs, enable remote diagnostics, and provide intelligent scheduling. Cloud-based FSM platforms offer scalability and flexibility, providing real-time access to critical data, including customer data, service history, and collaboration tools. Mobile devices and mobile workforces have become integral to FSM, enabling real-time communication, updates, and job assignments. However, integration complexity, talent shortage, and digital transformation present challenges for organizations. Cost-effective alternatives, such as mobile-based FSM solutions, offer administrative overhead reduction and increased productivity through real-time communication, accurate resource data, and problem resolution capabilities. Security concerns, including data confidentiality, data breaches, and unauthorized access, must also be addressed. Augmented Reality (AR) offers real-time guidance, expertise, and visual cues for field technicians, enhancing first-time fix rates and engineers’ productivity. FSM software features work order management, including work order creation, task execution, and job completion status, as well as fleet operations and route optimization.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecomHealthcareRetailTransportation And LogisticsOthersDeploymentOn-premiseCloud-basedGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Ceva Wi-Fi 6 and Bluetooth IPs Power Bestechnic’s New Combo Products

Published

1 minute ago

January 6, 2025

Bestechnic integrates market leading Ceva-Waves Wi-Fi 6 IP together with Ceva-Waves Bluetooth Dual Mode IP in low power silicon products targeting smart wearables, smart home and smart audio applications

LAS VEGAS, Jan. 6, 2025 /PRNewswire/ — Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced that Bestechnic, a global leader in the design and development of wireless ultra-low power computing SoCs for the advanced smart audio, smart wearables, wireless connectivity and smart home markets, has extended its long-term partnership with Ceva to integrate Ceva-Waves Wi-Fi 6 and Bluetooth dual-mode IP platforms in new Bluetooth/Wi-Fi combo products, including the BES2610 and BES2800 families. Bestechnic has shipped more than 1 billion smart audio SoCs powered by Ceva’s Bluetooth Dual Mode IP to date, and is one of the world’s leading suppliers of smart audio SoCs for TWS earbuds, headsets, smart glasses, smartwatches and smart speakers.

ABI Research forecasts that Wi-Fi 6 shipments will approach 2.7 billion units annually by 2027. This growth is fueled by the adoption of Wi-Fi 6 in various devices, including smart audio products like TWS earbuds, smart speakers, and other wearables. Wi-Fi 6 is designed to provide high efficiency and performance while significantly reducing power consumption compared to previous generations of Wi-Fi. This makes it ideal for battery-powered IoT devices such as wearables and speakers where it complements Bluetooth audio functionality, offering high throughput and low latency which is critical for high-definition audio streaming and increasingly required for real-time data processing associated with embedded AI.

Bestechnic has deployed the Ceva-Waves Wi-Fi 6 IP alongside the Ceva-Waves Bluetooth Dual Mode IP in its recently introduced combo families of ultra-low power Bluetooth/Wi-Fi chips. The platforms incorporate a dual-mode Bluetooth 5.4 subsystem for both Bluetooth classic and LE audio, and a Wi-Fi 6 subsystem for high-throughput wireless connectivity and lossless audio. The highly integrated solution with BES optimized ultra-low power system, is designed to provide Bluetooth level power consumption for a Wi-Fi enabled device. For example, the current of 2.4GHz Wi-Fi RX is as low as 14mA, making it ideal for battery powered wearable devices.

“Our long-standing partnership with Ceva has been instrumental in our success, and we are excited to incorporate their Wi-Fi 6 IP into our newest combo device families,” said Zhao Guoguang, General Manager, Bestechnic. “This collaboration allows us to offer our customers cutting-edge wireless connectivity solutions that exceed the demands for high-definition audio streaming and other ultra-low power wearable applications such as smartwatches and smart glasses.”

“Bestechnic’s integration of our Wi-Fi 6 and Bluetooth Dual Mode IP in their combo devices showcases the exceptional value of our comprehensive wireless connectivity portfolio in addressing emerging trends and applications,” said Tal Shalev, Vice President and General Manager, Wireless IoT Business Unit at Ceva. “Embedded AI is rapidly making its way into every device around us, and seamless connectivity is the foundation of these devices. With Wi-Fi 6 providing robust data transmission that complements Bluetooth for streaming audio applications, our ability to deliver unmatched performance and power efficiency with our wireless connectivity IPs empowers Bestechnic to set a new benchmark for smart audio devices.”

About Ceva-Waves Wi-Fi
The Ceva-Waves Wi-Fi IP family offers a comprehensive Suite of IPs and platforms for embedding Wi-Fi connectivity into SoCs/ASSPs optimized implementations are available for various applications, from low power IoT peripherals right up to high performance, multi-user gateways and spanning all flavours of 802.11a/b/n/ac/be. Each Ceva-Waves Wi-Fi solution incorporates hardwired PHY modem functions and MAC functions, including a Full MAC software protocol stack. A fully hosted stack is also proposed, comprising the integration of FullMAC stack in FreeRTOS along with TCP/IP, supplicant and a reference IoT application. For more information, visit https://www.ceva-ip.com/product/rivierawaves-wi-fi-platforms/.

About Bestechnic
Founded in 2015, Bestechnic specializes in the development of wireless ultra-low power computing SoCs for the advanced smart audio, smart wearables, wireless connectivity and smart home markets. Our engineering teams are dedicated to R&D work in a wide range of areas, including RF and analog, wireless communication, acoustic and audio signal processing, image and vision signal processing, NPU, ultra-low power computing SoC, as well as complete software stack and complex operating system. As a leading technology and SoC supplier, our products have been adopted by leading brands worldwide. Visit our website at https://www.bestechnic.com/.

About Ceva, Inc.
At Ceva, we are passionate about bringing new levels of innovation to the smart edge. Our wireless communications, sensing and Edge AI technologies are at the heart of some of today’s most advanced smart edge products. From wireless connectivity IPs (Bluetooth, Wi-Fi, UWB and 5G platform IP), to scalable Edge AI NPU IPs and sensor fusion solutions, we have the broadest portfolio of IP to connect, sense and infer data more reliably and efficiently. We deliver differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint. Our goal is simple – to deliver the silicon and software IP to enable a smarter, safer, and more interconnected world. This philosophy is in practice today, with Ceva powering more than 18 billion of the world’s most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles and 5G mobile networks.

Our headquarters are in Rockville, Maryland with a global customer base supported by operations worldwide. Our employees are among the leading experts in their areas of specialty, consistently solving the most complex design challenges, enabling our customers to bring innovative smart edge products to market.

Ceva: Powering the Smart Edge™

Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.

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SOURCE Ceva, Inc.

Technology

Addtronics Announces Appointment of Adam Meyers to Board

Published

1 minute ago

January 6, 2025

GREENWICH, Conn., Jan. 6, 2025 /PRNewswire/ — Addtronics, LLC (“Addtronics”), a consolidator of high-quality, niche automation technology and solution providers innovating for the life sciences and other industries, announced today the appointment of Adam Meyers to its Board of Directors.

Mr. Meyers brings more than three decades of experience managing and growing small and medium-sized medical technology businesses. Mr. Meyers had a twenty-six-year career at Halma, PLC (“Halma”), a FTSE 100 company and leading serial-acquirer of niche companies in the healthcare, environmental, and safety industries.

Mr. Meyers was the Sector CEO of Halma’s Medical and Environmental Divisions where he delivered consistently strong organic growth, was responsible for over 20 acquisitions, and was a member of both the Executive Board and Board of Directors. Prior to this, he held various other leadership roles at Halma and other organizations. Mr. Meyers received his MBA from Harvard and his undergraduate degree in systems engineering from the University of Pennsylvania.

On his appointment, Mr. Meyers said, “I am very attracted to Addtronics’ approach of assembling niche automation technology businesses in a decentralized and entrepreneurial operating model. I am extremely excited to join the Board and to work with Max Katzenstein, the investor group, and the executive team to help build lasting value through Addtronics’ model of acquiring, investing in and growing these businesses”.

Max Katzenstein, Executive Chairman of Addtronics, commented, “Adam is a both a highly experienced leader of niche medical technology companies as well as someone who had a front-row seat building one of the most successful serial-acquirers in history. We are extremely excited to welcome Adam to our Board of Directors and are confident he will help us achieve our mission and vision.”

Addtronics is actively searching for additional businesses to add to its family of automation solution providers. Ideal candidates will be excited about joining a mission-driven organization that values the entrepreneurial spirit of each of its operating companies and is inspired to pursue further growth and value-creation strategies.

About Addtronics:
Addtronics is a consolidator of high-quality, niche automation technology and solution providers innovating for the life sciences and other industries. Addtronics seeks to be the acquirer of choice in this space by allowing its operating companies to retain their entrepreneurial spirit while enjoying the benefits of scale and partnership with other Addtronics companies. For more information on Addtronics, please visit www.addtronics.com.

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SOURCE Addtronics

Technology

ZINFI Continues to Thrive as a “Leader” in G2’s Winter 2025 Grid Report for Partner Management Software

Published

1 minute ago

January 6, 2025

Among the four companies earning a slot in the leader’s quadrant, ZINFI’s overall Satisfaction Score is 28 points higher than its nearest competitor

PLEASANTON, Calif., Jan. 6, 2025 /PRNewswire/ — ZINFI Technologies, Inc., a company leading the definition and creation of Unified Partner Management (UPM) solutions, today announced that G2.com, Inc., the largest software marketplace, has once again named the company as a “Leader” in its Winter 2025 G2 Grid® Report for Partner Management Software. ZINFI has held its position in G2’s leaders’ quadrant for multiple consecutive quarters dating back to 2019, and is one of only four providers to earn the leadership designation in the current report. Among the four companies currently in the leader’s quadrant, ZINFI holds the top G2 Satisfaction Score (98), 28 points ahead of its nearest competitor. ZINFI is also identified as “Best for Mid-Market” in G2’s current summary of “Best Partner Relationship Management (PRM) Software.”

G2 strives to be the world’s most trusted and influential marketplace for software buyers, sellers, and service providers. The G2 Grid represents the democratic voice of real software users, rather than the subjective opinion of one analyst. G2 rates products from the Partner Relationship Management (PRM) category algorithmically based on data sourced from product reviews shared by G2 users and data sourced from third parties. In addition to G2’s rigorous review moderation process, that trust is earned by applying a consistent set of guidelines, methodologies, and definitions to give buyers the best view of a particular B2B software market.

G2’s Satisfaction Score for Partner Management Software is derived from user-focused metrics (Ease of Use, Meets Requirements, Quality of Support), admin-focused metrics (Ease of Admin, Ease of Setup, Ease of Doing Business With) and general satisfaction scores (Likelihood to Recommend, Direction of Product). Based on 480 reviews from actual users, ZINFI earned scores of 94% or higher on each of these eight metrics, including a score of 98% on Likelihood to Recommend and scores of 97% on four additional metrics.

“ZINFI is all about empowering our customers as they look for new and better ways to connect, collaborate, communicate, co-market and co-sell with their partners,” said Sugata Sanyal, founder & CEO of ZINFI. “We have always had a long-term, customer-focused approach to doing business, and we will continue to diligently monitor and learn from user feedback as we expand and improve our software to adapt to an evolving market and a constantly changing business environment. Nearly 500 of our customers have weighed in on G2 so far, and we are thrilled to learn that they continue to express overwhelming levels of satisfaction on key metrics like our platform’s usability, our responsiveness to their product and support requirements, and the ease with which they can perform important tasks like admin and setup.”

The complete Winter 2025 G2 Grid® Report for Partner Management Software can be downloaded here:

ZINFI offers its potential customers a 30-day free trial (no credit card required) providing access to its entire Unified Partner Marketing (UPM) automation platform. This will allow any prospective buyers to test-drive its industry-leading channel management applications before making a purchase decision.

About ZINFI Technologies

ZINFI Technologies, Inc. a company leading the definition and creation of Unified Partner Management (UPM) innovation, enables vendors and their channel partners to achieve profitable growth predictably and rapidly on a worldwide level. Headquartered in Silicon Valley, USA and founded by channel veterans with extensive global channel management experience, we at ZINFI see an immense opportunity to build high-performing sales channels by deploying an easy-to-use, comprehensive and innovative state-of-the-art SaaS Unified Partner Management automation platform that streamlines and manages the entire partner lifecycle. ZINFI provides six core SaaS solution sets: “Onboard, Enable, Market, Sell, Incentivize and Accelerate” with tools and applications that span management of partner relationships, marketing, and incentives with additional tools for affiliate management. These solutions enable channel organizations to integrate all partner ecosystem management activities. In 26 countries, these core UPM SaaS solutions are also locally supported by ZINFI’s global marketing services team members.

To access more information about ZINFI’s Unified Partner Management platform or to download a copy of ZINFI’s best practices guide on partner relationship management, please visit our website at https://www.zinfi.com/. You can also follow ZINFI Technologies on LinkedIn and the ZINFI Channel Marketing Best Practices blog.

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SOURCE ZINFI Technologies, Inc.