The global field service management market has seen remarkable expansion in recent years, fueled by a growing desire for quick as well as cost-effective solutions. Due to the prevailing demographic trends in developed markets such as Europe and the US, many studies have showed that there is likely to be a scarcity of field service manpower. As a result, enterprises are focusing more on back-end automation and usage of new technology to allow remote monitoring.
Vendors are employing a variety of pricing techniques in order to stay competitive in the global field service management market. Due to technical developments, software manufacturers are embracing customer-centric pricing models. Several suppliers in the global field service management market are concentrating on delivering value-based pricing structures based on client demands and perceptions of value. The cost of software solutions is determined by the solution’s distinguishing qualities as well as the value-added services provided to clients.
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Rising Demand for Software-as-a-Service (SaaS) to Trigger Expansion of the Global Market
In the forthcoming years, the demand for software-as-a-service (SaaS) over traditional on-premise software is expected to grow significantly, supported by the rising need for better as well as quicker service. Many businesses are transitioning to cloud-based field service management systems as the market for cloud computing grows. These technologies free the IT department of some of its obligations whilst allowing external service providers to provide maintenance and support to its customers.
The industrial Internet of things (IIoT) is being used by original equipment manufacturers for new services, which necessitates a contemporary field service management system to handle field service delivery, resulting in higher demand for these solutions. Furthermore, machine learning opens up new avenues for competitive edge. This requires current FSM solutions to be carried out successfully. Field service management solutions are becoming more popular since they boost labor efficiency and optimize business processes without expanding the headcount of the field-based staff.
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Field-based sales are predicted to increase as a result of providing technicians with the relevant information via a mobile application. Customers can follow the technician’s progress in real time using the smartphone app, ensuring that support will arrive on time. Mobile field service solutions enable service firms to obtain more control over field operations, offer timely service to their clients, and make better business choices through the implementation of mobility field service solutions.