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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

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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.

For more insights on driver and challenges – Download a Sample Report

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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Optimism on Financial Performance Declines; Industrial Sector witnesses largest drop since Q3 2023

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Financial Optimism Among CFOs Dips 0.8% in Q1 2025

MUMBAI, India, March 17, 2025 /PRNewswire/ — A recent survey of Chief Financial Officers (CFOs) in India, conducted by Dun & Bradstreet India, a leading global provider of business decisioning data and analytics, found that CFOs’ confidence for both industrial and services financial performance has reduced compared to Q4 2024.

The Dun & Bradstreet India Composite CFO Optimism Index analyses the optimism level of CFOs on 12 parameters: operating margin, liquidity position, level of financial risk on company’s balance sheet, risk appetite, need for raising short-term and long-term funds, cost of raising funds, availability of funds, domestic and global macro-economic scenario, overall scenario for mergers and acquisitions, and level of financial risks for businesses.

Overall optimism for financial performance reduced marginally by 0.8% in Q1 2025. Optimism on the financial sub-index for the industrial sector has declined by 7.1% Q-o-Q.

There is a decline in the macro-economic sub-index for the services sector in Q1 2025, due to uncertainty about the global recovery. Optimism in the industrial sector for the global macro-economic scenario declined by 9% Q-o-Q due to uncertainty on the global policy front – specifically on trade.

Overall, businesses are expected to benefit domestically from the anticipated rate-cuts and are therefore delaying their requirements for long-term funds for the moment, indicated by a decline in optimism for the need for long term funds. Optimism for company liquidity positions has reduced in Q1 2025, whilst optimism for the need for short-term funds increased in Q1 2025.

Key findings from the survey:

The Composite CFO Optimism Index is at 134.3 for Q1 2025Overall optimism for financial performance has decreased by 0.8% in Q1 2025Optimism for overall macro-economic scenario stands at 168.7 in Q1 2025, increasing by 35.8% on quarterly basisOptimism within Industrial sector for financial performance sub-index declined by 7.1% in 2025Optimism on the Global macro-economic scenario for the corporate sector reduced by 6% Q-o-QOptimism regarding the risk appetite in the current scenario in the services sector reduced by 38% Q-o-QOptimism for company operating margins has reduced by 8% Q-o-Q

Commenting on the findings of the survey, Dr. Arun Singh, Global Chief Economist, Dun & Bradstreet, said, “The Q1 2025 Composite CFO Optimism Index shows a stable yet cautious outlook. While overall financial optimism slightly dropped by 0.8%, shifts across sectors and economic scenarios are evident. Concerns over US trade policies and global protectionism have dampened global macro-economic optimism. The services sector shows reduced risk appetite, and operating margin optimism has decreased by 8% Q-o-Q, reflecting pressure on profitability. In short, while the macro-economic outlook remains positive, CFOs are adopting a more cautious approach to growth and risk management.”

About the Dun & Bradstreet India Composite CFO Optimism Index

The Dun & Bradstreet India Composite CFO Optimism Index, which has been tracking the changing sentiment of CFOs since 2012, is a leading indicator of the Indian financial market as it helps in predicting the performance of the Sensex three months in advance.

A sample of companies belonging to basic goods, capital goods, intermediate goods, consumer durables, consumer non-durables and the services sector is selected randomly from Dun & Bradstreet’s commercial credit information file. The sample selected is representative of India’s business community. All the respondents in the survey are asked a set of questions regarding the financial performance of their companies and the overall macroeconomic scenario for the corporate sector in the forthcoming quarter. The CFOs are asked to state their expectations as to whether the specified parameters pertaining to their respective companies and the overall macroeconomic scenario will register an increase, decrease, or show no change in the ensuing quarter as compared to the same quarter in the previous year. Two broad indices, optimism at the company level and optimism at the macroeconomic level, each consisting of eight and four sub-parameters respectively, are then designed.

About Dun & Bradstreet:

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions across finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.

India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly-skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses.

Visit www.dnb.co.in for more information.

Click here for all Dun & Bradstreet India press releases.

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Businesses across South Africa are engaging independent talent at rates ranging from R300 to R1900 per hour to scale faster: Outsized’s 2025 Talent-on-Demand Report reveals critical hiring trends and most in-demand skills

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CAPE TOWN, South Africa, March 17, 2025 /PRNewswire/ — Companies across South Africa are increasingly building teams and capabilities by integrating independent professionals across functions and levels. Skills in high demand include data analytics, digital transformation, strategy, actuarial and core technology.

According to Outsized’s 2025 Talent-on-Demand Report, organisations are integrating independent talent for various reasons; from execution roles to strategic project delivery, with professionals across South Africa earning between R300 to R1900 per hour, depending on the type of skill and experience level.

South Africa’s talent market is evolving rapidly, shaped by economic shifts, regulatory changes, and accelerated technology adoption, significantly increasing the demand for specialised independent professionals, leading to a 53% increase in freelancer registrations.

Key findings at a glance:

Most in-demand skills: Project management, data analytics, business transformation, technology architecture, actuarial and data technology.Sectors driving the shift: Consulting, Financial Services and Tech, leveraging independent professionals to scale capabilities across strategy, execution, and operations.Freelancer growth: Registrations up 53%, showing strong demand for flexible expertise across experience levels.Day rates: Experienced professionals (11–15 years) average R1,000/hour; top skills exceed R1,530/hour.

Additionally, in the field of software development, experts command hourly rates between R525 and R1,100. Similarly, financial management specialists, including financial analysts and financial reporting professionals, are securing competitive rates ranging from R450 to R1,600 per hour.

A transforming workforce: Agile talent takes centre stage

Outsized, a leading talent-on-demand platform with over 45,000 independent consultants and professional freelancers globally, has released its fourth annual Talent-on-Demand Report, offering real-time insights into how businesses are leveraging independent professionals. Based on tens of thousands of proprietary data points from actual projects posted by enterprises, consulting firms, and private equity clients, the report provides a comprehensive breakdown of talent costs, hiring trends, and in-demand skills across Africa, MENA, and APAC.

For the first time, the 2025 edition also includes insights from Australia and New Zealand (ANZ), expanding its global workforce intelligence.

Companies can no longer afford slow, rigid hiring processes. Independent professionals offer immediate access to critical skills, cutting delays and costs.” — Johann van Niekerk, Managing Director, Africa at Outsized

Why this matters for business and HR leaders

The 2025 Talent-on-Demand Report serves as a blueprint for workforce transformation, enabling leaders to:

Benchmark talent costs and optimise external hiring budgets.Identify emerging workforce trends across Africa, MENA, and APAC.Gain exclusive day rate intelligence across a broad range of industries and skill sets.Understand how top firms leverage independent talent to accelerate digital transformation and maintain a competitive edge.

Access the full report here

Staying ahead of workforce trends demands real-time intelligence and actionable market insights. Outsized’s 2025 Talent-on-Demand Report serves as a strategic playbook, providing business leaders with essential benchmarking against industry peers. Armed with these insights, leaders can quickly identify emerging talent shifts, optimise hiring budgets, and build agile workforce strategies. Access the full report to stay ahead of the curve: https://resources.outsized.com/talent-on-demand-report-2025.

Access the report now 

Methodology

The 2025 Talent-on-Demand Report is based on original research and tens of thousands of proprietary data points from real projects on Outsized’s platform.

About Outsized

Outsized is a talent-on-demand platform with over 45,000 top independent professionals, enabling large enterprise clients, consulting firms, and private equity funds in Africa, the Middle East and Asia-Pacific to implement flexible workforce models at scale. For more information, please visit www.outsized.com.

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Taiwantrade Gears up for TAIPEI CYCLE 2025 with Premium Bikes, Exciting Games, and Seamless Sourcing Services

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TAIPEI, March 17, 2025 /PRNewswire/ — Taiwantrade.com, Taiwan’s premier B2B e-commerce platform, is set to make waves at TAIPEI CYCLE from March 26 to 29 at TaiNEX 2 (Taipei Nangang Exhibition Center 2). As a bridge connecting global buyers to Taiwanese suppliers, Taiwantrade is pulling out all the stops to create an engaging and rewarding experience for visitors at its booth (S0801, TaiNEX 2, 4th Floor).

Visitors will have the unique opportunity to explore high-quality e-bikes from Taiwantrade supplier members, including Casa Cycle’s CASA UNO electric gravel bike, Spire Cycle’s electric road bike, and G-Max’s Dutte E drive folding bike. Whether you’re a cycling enthusiast or an industry professional, this is your marvelous opportunity to experience Taiwan’s latest advancements in cycling technology and witness its strong manufacturing capabilities firsthand.

But that’s not all—visitors can also test their luck with the “Lucky Taiwantrade” slot machine game. With a spin of the reels, visitors can win exciting prizes, adding extra fun to their Taiwantrade experience. And for those with a sweet tooth, Taiwantrade has something special in store—free Taiwantrade-branded cotton candy to keep energy levels high as visitors explore the show!

In addition to the exciting booth activities, Taiwantrade launched an exclusive Cycle Online Pavilion (https://cyclepavilion.taiwantrade.com), a dedicated showcase featuring an impressive collection of over 7,200 bike-related products from more than 830 Taiwanese suppliers. Buyers are highly encouraged to explore the Cycle Online Pavilion to access top-quality cycling products and enjoy Taiwantrade’s seamless sourcing services.

Whether you’re looking to discover premium bikes, try your luck at winning fantastic prizes, or source top-notch cycling products, Taiwantrade’s presence at TAIPEI CYCLE 2025 is an unmissable highlight. Visit the Taiwantrade booth and Cycle Online Pavilion to experience the best of Taiwan’s cycling industry!

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