Field Activity Management Global Market Report 2024

The field activity management solution refers to solutions that consolidate and capture data related to mapping and scheduling, location data, and time and expense tracking on a single platform, allowing for more efficient asset utilization, visualization, tracking, and management. The field activity management is used for managing field activities, including physical assets, the associated workforce, and equipment, through the use of software, workflows, and communication solutions.

The main types of components in field activity management are solutions and services. The solution is used to allow employees at all levels of a company to interact with customers in novel ways and alter how managers approach customer service. Solutions can assist businesses in developing a strong and loyal customer base, resulting in increased sales and revenue. The different deployment modes include on-premises and cloud that are employed in IT and telecom, healthcare and life sciences, manufacturing, BFSI, and other verticals.

The field activity management market research report is one of a series of new reports that provides field activity management market statistics, including field activity management industry global market size, regional shares, competitors with a field activity management market share, detailed field activity management market segments, market trends and opportunities, and any further data you may need to thrive in the field activity management industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The field activity management market size has grown rapidly in recent years. It will grow from $1.27 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to increased demand for field service efficiency, need for real-time tracking and data collection, emphasis on workforce productivity and profitability, integration of field service management with business applications, growing adoption of field activity management solutions.

The field activity management market size is expected to see rapid growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to implementation of predictive maintenance systems, increased use of mobile technologies for data collection, integration of field service management with business applications, growing emphasis on real-time data flow and analytics, adoption of iot sensors and devices for field service management. Major trends in the forecast period include mobile and cloud-based field activity management solutions, integration of wearables for hands-free field operations, collaboration between field teams and centralized operations, automation of routine field tasks and workflows, focus on customer-centric field service experiences.

Increasing adoption of automation and digitalization is expected to propel the growth of the field activity management market going forward. Automation and digitalization are used to describe the use of digital technology to automate the execution of tasks at regular intervals. The advantages of integrating automation and digitalization in field activity management include optimal resource utilization, effective resource tracking, and monitoring, and lower operational costs. For instance, according to Manufacturing Today, an India-based manufacturing industry news magazine, it is estimated that by 2050, approximately 85-90% of manufacturing firms in India would adopt automation in operations. Furthermore, according to Windward Studios, a US-based reporting and document generation company for organizations of all sizes, by 2023, 40% of big enterprise I and O teams would embrace AI-augmented automation, boosting efficiency and scalability in IT departments. In addition, businesses are expected to employ 70% more automation architects by 2025 than they did in 2020, up from 20%. Therefore, increasing adoption of automation and digitalization is driving the growth of the field activity management market going forward.

The adoption of work-from-home (WFH) practices is expected to propel the growth of field activity management going forward. Work-from-home (WFH) practices refer to the practice of employees working remotely from their homes or other off-site locations rather than at a physical office or workplace. As organizations adapt to remote work environments, there is an amplified demand for comprehensive solutions that can efficiently manage and coordinate field operations, even when employees are working from diverse, decentralized locations. Field Activity Management tools enable the real-time monitoring, task assignment, and collaboration necessary to ensure productivity and accountability among remote teams. For instance, in June 2023, according to a report issued by Forbes, a US-based business magazine and media company, as of 2023, 12.7% of full-time employees work from home, while 28.2% work in a hybrid model. By 2025, 32.6 million Americans will work remotely. Thus, an increase in the adoption of work from home is expected to lead to an increase in demand for field activity management market growth.

The increasing concentration on SaaS-based solutions has emerged as a key trend gaining popularity in the field activity management market. Software as a service (SaaS) is an abbreviation for a software distribution model in which a cloud provider hosts applications for quick access by end users. Major companies operating in the field activity management sector are incorporating SaaS-based solutions to effectively track and manage resources. For instance, in October 2021, Opsivity, Inc., an Australia-based field service management company, launched its SaaS-based services in the US market. Customers in the United States can now access Opsivity's SaaS-based solutions for real-time remote field support and management. Opsivity also leverages artificial intelligence (AI) and augmented reality (AR) to harness knowledge and share operational expertise across field teams in order to solve technical issues in real-time and increase productivity in industries that face labour shortages.

Major companies operating in the field activity management market are developing and expanding their operations through strategic partnerships. A strategic partnership is a kind of formal relationship established between two or more companies or organizations to pursue mutual goals, objectives, or projects. For instance, in January 2021, Fulcrum, a US-based company that offers mobile data collection and workflow automation services, unveiled a development by integrating its user-friendly mobile app platform with Esri, a US-based multinational geographic information system (GIS) software company. This integration allows Fulcrum's valuable location-based data to be seamlessly used in products like Esri ArcGISTM. The result is improved efficiency for safety inspectors, quality assurance teams, and others who rely on location data for their work. It also enhances teamwork by making data integration and location information easily accessible across various departments. Ultimately, this integration helps organizations manage their field teams more effectively and make better use of location-based data in their operations.

In November 2022, PTC, a US-based computer software company, acquired ServiceMax for $1.4 billion. Through this acquisition, PTC planned to extend its closed-loop product lifecycle management offerings into enterprise asset management and field service management. ServiceMax is a US-based developer of cloud-native field service management software.

Major companies operating in the in the field activity management market report are Bentley Systems Inc., Comarch SA, Corrata, The Environmental Systems Research Institute Inc, FastField Mobile Forms, Field Safe Solutions Inc., Fulcrum Digital Private Limited, Industrial and Financial Systems AB., Infor, Logistics Services Private Limited, Microsoft Corporation, Oracle Corporation., Overit S. p. A, Praxedo, Salesforce. Com India Private Limited, SAP AG, Servicemax Technologies (India) Private Limited, Webuild SPA, Repsly Inc., ProntoForms Corporation, Canvas Solutions Inc., FieldWireLabs Inc., Smart Service Software, SafetyCulture Pty Ltd., Fieldez Technologies Private Limited, MobiLogix India Pvt Ltd., Servicepower Technologies, ClickSoftware

North America was the largest region in the field activity management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the field activity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the field activity management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The field activity management market includes revenues earned by entities by providing assigning and scheduling work orders services, dispatching worker assignments, communicating with field workers, managing product inventory, and collecting data services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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