Field Service Management Market Surges to $7.3 billion by 2028 - Dominated by Oracle (US), Microsoft (US), SAP (US)

Delray Beach, FL, Aug. 22, 2025 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the Field Service Management Market is expected to grow from USD 4.0 billion by 2023 to USD 7.3 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period.

The adoption of cloud-based solutions, IoT, and wearable technology will drive the growth of the Field Service Management (FSM) Market.

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Field Service Management Market Dynamics

Drivers

• Increasing adoption of digitalization and automation in field service industry
• Rising adoption of mobile-based FSM solutions

Restraints

• Security concerns among organizations related to data confidentiality

Opportunities

• Advancements in IoT and predictive analytics
• Need for AI integration to improve service delivery and personalized experience

List of Top Companies in Field Service Management Market

• Oracle (US)
• Microsoft (US)
• SAP (US)
• IFS (Sweden)
• ServiceMax (US)
• Salesforce (US)
• Infor (US)
• Trimble (US)
• Comarch (Poland)
• ServicePower (US)
• ServiceNow (US) and many more

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Based on the offering, the services segment will grow at the highest CAGR during the forecast period. FSM services encompass a spectrum of critical functions, from initial consultation and implementation to ongoing support and optimization. Firstly, consulting services provide invaluable guidance to organizations seeking to align FSM solutions with their unique business requirements, ensuring optimal configuration and seamless integration with existing systems. Implementation services translate strategic plans into tangible results, facilitating smooth deployment, data migration, and user training to minimize disruptions and maximize adoption. Ongoing support services offer continuous assistance, troubleshooting, and software updates, ensuring the longevity and reliability of FSM solutions. Additionally, optimization services enable organizations to refine processes, leverage advanced features, and adapt to evolving business needs, driving continuous improvement and maximizing the return on investment in FSM technology.

Based on the organization size, SMEs will grow at a higher CAGR during the forecast period.

Field service management plays a crucial role in empowering small and medium-sized enterprises (SMEs) to optimize their operations and enhance their field service processes. With the advent of new-generation FSM solutions, SMEs now have access to advanced tools and technologies that were once exclusive to large corporations. These solutions enable SMEs to maximize the efficiency of their field operatives by optimizing routes, minimizing travel time between service calls, and providing mobile business applications. By leveraging FSM software, SMEs can achieve significant cost savings on fuel expenditure while boosting overall productivity.

Additionally, FSM helps SMEs improve customer service quality by ensuring adherence to communicated times, better preparation for service calls, and strategic job assignments based on individual skill sets. Cloud-based FSM solutions further alleviate the need for dedicated servers and large IT teams, making FSM implementation more accessible and cost-effective for SMEs. With features like automated scheduling, real-time updates, and invoicing, SMEs can streamline their workflows, enhance customer service, and easily drive business growth. One such vendor catering to the needs of SMEs in field service management is mHelpDesk, offering an all-in-one service company software solution designed to automate and streamline various business processes for SMEs.

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Based on the vertical, manufacturing will hold the largest market share in 2023.

The use of field service management in the manufacturing sector is extensive. Field service management is critical in ensuring the efficient operation of manufacturing processes by managing and maintaining equipment, providing timely repairs and maintenance, and optimizing resource allocation. Key priorities include minimizing downtime, improving asset performance, and enhancing overall operational efficiency to meet production targets and maintain competitiveness in the market. Advanced field service management solutions tailored to the unique needs of the manufacturing industry offer capabilities such as predictive maintenance, remote monitoring, and real-time data analytics to streamline operations and drive business growth. FSM solutions are employed for work order management, scheduling, dispatch and route optimization, customer management, inventory management, service contract management, reporting & analytics, with benefits such as, but not limited to, enhanced productivity, reduced downtime, and improved customer satisfaction.

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