The worldwide market for field service management (FSM) solutions is expected to grow at a compounded annual growth rate of 7.8 percent over the next five years. The market was $364.6m in 2007 and is forecasted to be over $532m in 2012, according to a new ARC Advisory Group study. An increase in OEM post-sales service to asset-intensive manufacturers is driving sales in the field service management software and services market. FSM software has enabled these service organizations to more effectively administer the complexities associated with managing an overabundance of information and a large, often geographically dispersed, workforce. Equipment OEMs are expanding their product offering with post sales services in an effort to increase revenues and offset decreasing product margins. These services come at an opportune time when many manufacturers face labor constraints due to a limited pool of available skilled workers. A continuing increase in services offered by these organizations is expected to result in an up tick in demand for field service management applications.
Source: ARC Advisory Group