Field Service Management Market Size & Latest Trends for 2024

Field Service Management Market Size & Latest Trends for 2024

Discover which top field service management market trends businesses need to embrace to streamline operations and customer experiences. 

Field service businesses are embracing new-age digital technologies and methods to meet the rising shift in consumer demand. They are investing in field service management software (FSM), driven by AI/ML-based automation platforms that help streamline their operations and improve operational efficiency. 

A field force management system solution is growing as an unwavering need to automate manual tasks like job allocation, managing work orders, attendance, and more.

The global field service management market is forecasted to reach $29.9 billion by 2031, growing at a CAGR of 19.2% from 2022 to 2031. The market was valued at $5.2 billion in 2021.

Here we are discussing the field service management market size and future trends all shared by industry experts.

Read Blog – What is Field Service Management Software? Experts Guide!

Field Service Management Software – Usage Stats

  1. Employers use field service management software in 48% of cases.
  2. Cloud-based field service management solutions are leveraged by 51% of fleet management businesses. 52% of businesses integrated this software with their fleet tracking systems.
  3. The worldwide field service management software market will grow at a CAGR of 19.7% between 2021 and 2030. It is expected to reach a value of $24,294,000.00 by 2030. 
  4. For 61% of fleet managers, the FSM software’s ability to automate record gathering and updating is a crucial feature.

How Field Force Management Solves Business Challenges?

Field Service Management Software Technologies Statistics

  1. Artificial intelligence and mobility help field service agents’ efficiency by up to 30% to 40%.
  2. IoT is a part of almost 73% of field management companies.
  3. About 75% of field service companies with the use of mobility technologies have witnessed increased employee productivity and customer satisfaction.
  4. 42% of field service management companies have employed the Internet of Things (IoT) – compiled by According to Mordor Intelligence.

Field Service Management Trends Statistics – What Customers’ Expect?

  1. 66% of customers want businesses to field service businesses to recognize their requirements and expectations.
  2. 89% of clients desire on-demand and modern technology for scheduling technicians. Almost as many are ready to pay more.
  3. 90% of customers say that a service has a great role in determining their decision regarding whether they want to continue business with a certain business or not.

Top Field Service Management Future Trends – What’s Next?

  1. Route Optimisation

Rising customer requests necessitate the need to have more skilled field staff, but that too at the shortest turnaround time. This is where route optimisation software plays a crucial role in redefining the efficiency of mobile field service technicians. It helps them to:

  • Minimise travel time.
  • Save cost. 
  • And ensure they spend more time assisting customers. 

This software is the best fit for organisations with multiple field staff having tons of customer requests. Such software driven by high-precision algorithms helps speed up the process and plan thousands of time-saving routes in 5 minutes. That’s even beyond human capabilities!

🔍 Do you know cloud-based field service solutions are used by 48% of companies?

Read– How Field Service Management Software Helps Pest Control Companies?

  1. Scheduling Optimisation

Coordinating and scheduling field workers can turn out to be a big nightmare — if not done correctly. Unexpected changes in appointments, bad weather conditions, or any other unpredictable working conditions can disrupt the routing towards the service field.

To efficiently manage schedules and maximize customer service, companies are rooting for tools that can help automate field service scheduling and dispatching.

Field service software, easy to integrate with business data and performance management tools, help simplify and optimise routes. As a result, it boosts productivity, reduces delays, and narrows service-delivery windows.

  1. Predictive Maintenance

Predictive maintenance in field service is an ongoing trend. It utilizes IoT sensors and predictive analytics to proactively detect issues in machines by analysing data like temperature and vibration. Why it is so good? It helps forecast or alert issues before machine breakdowns. As a result, it’s very helpful in reducing downtime, cutting repair costs, and enhancing safety. 

It’s a valuable trend for remote customer locations, as it helps ensure uninterrupted service and helps meet customers’ expectations.

Disrupting cold chain monitoring solutions are emerging as the best predictive maintenance tool.

  1. Empower Field Service Technicians

In the upcoming service based businesses will be seen investing in their field service technicians. Most companies are now realising the potential of field service apps to empower technicians to complete their tasks seamlessly on the go. Investing in comprehensive field service management software like TrackoField will be massive this year, allowing field agents to seamlessly:

  • Navigate to the customer’s/client’s location
  • Check their schedules or rosters
  • Take photos of deliverables as proofs
  • Write notes and attach forms 

The apps will help digitise work orders, which helps improve technicians’ efficiency while reducing manual tasks and paperwork.

Read– How Does Employee Tracking Software Improve Field Service Management?

  1. Blended Workforce – “After Great Resignation”

Field service businesses have a blended workforce comprising both full-time and part-time employees. However, with rising changes in seasonal demands, businesses are readily investing in third-party workers and on-demand contractors. This would help them to maintain the flexibility and capacity of growing needs.

This need was created ever since industries witnessed “The Great Resignation” after the COVID scenario. The event created stress and caused a shortage of labor.

In 2024 and beyond, we will see more demand for installations and repair services employing more quality field technicians.

  1. Focus on Customer Experience

Customer experience is everything in field service tasks. No brands like Urban Company or Zomato would strive for poor ratings from customers. Field force management tools are emerging as a powerful tool to enhance customer experience in years to come. 

Organizations will invest in field service management software to boost the visibility of their remote staff, manage their scheduling and dispatching, and meet customers’ requests in the shortest TAT. 

AI/ML-based field force automation software apps will allow your field workers to collaborate with end customers to resolve issues and improve customer service. Moreover, it will help many businesses with analysis and decision-making and train field executives to improve customer interaction.

Read Also – Top 10 Field Service Management Software Worth Investing In

Final Thoughts

Field service management is led by many transformative changes, driven by dominating technology and customer expectations. Key trends, such as route optimisation, optimal scheduling, and AI-driven services, are shaping the industry.

Other than staying current with these abovementioned trends, businesses need to invest in sought-after field force management software that can help streamline scheduling and dispatching while cutting business costs.

Transform Your Service Business… With TrackoField

Field Service Management Trends FAQs

  • What is Field Service Management?

    Field Service Management is a process of organising, managing, and optimising operations performed on the field or at a client site. It can include anything, be it - repairs, consultations, sales, customer support, and even regular inspections.

  • What are the FSM Market Challenges?

    Delayed field service scheduling, deployment, and arrival are some of the biggest challenges faced by the field service management market.

  • Which is the best field service management software?

    TrackoField is one of the best field service management software that helps automate, optimise, and manage field service operations and technicians. 

Field Service Management Market Size & Latest Trends for 2024

Nandita Gupta

Nandita is a Content Lead at TrackoBit. She is passionate about writing factual and thought-provoking pieces that help readers remove complexities from fleet management. When she’s not on her desk scribbling words, she’s either sipping tea, dancing, or heading toward gym.

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