CHICAGO, January 20, 2022 /PRNewswire/ — According to a new market research report “Field Activity Management Market by Component (Solution & Services (Consulting, Integration, Training & Support)), Deployment Mode, Organization Size, Vertical (Telecom, Energy & Utilities, and Government), and Region – Global Forecast to 2026“, published by MarketsandMarkets™, the size of the market to increase from $1.0 billion in 2021 for $2.2 billion by 2026, at a compound annual growth rate (CAGR) of 16.4% over the forecast period. The presence of various key players in the ecosystem has led to a competitive and diverse market. Field operations management is the management of field operations, including physical assets, associated labor, and equipment using software, workflow, and communication solutions. The field activity management solution consolidates and captures data related to mapping and planning, location data, and time and expense tracking under a single platform and contributes to use, visualization, effective monitoring and management of assets in the field.
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Services to register higher growth rate during the forecast period
In the field operations management market by component, services are expected to register a higher growth rate during the forecast period. Services play a critical role in the deployment and integration of field business management solutions. Services are considered an important part as they help to meet the personalized requirements of customers. Based on services, the field business management market has been segmented into consulting, implementation and integration, training and support. These services help implement field business management solutions in a cost-effective manner to efficiently accomplish business processes on time and on budget.
SMEs are expected to hold a larger market share over the forecast period
Based on organization size, SMBs are expected to hold the largest market size in today’s market, as SMBs are primarily focused on using field business management solutions to globalize and manage workers in various locations, as well as to analyze and act for better workforce satisfaction. Field Activity helps SMBs by providing a personalized approach, a centralized portal, advanced analytics, and extensive suites that help drive employee engagement and better tailor all aspects of employee workflow.
Cloud deployment is expected to experience higher growth rate during the forecast period
By mode of deployment, cloud is expected to have a higher growth rate. Benefits include flexibility, scalability, affordability, operational efficiency, and low costs. This is due to the associated functionality and basic characteristics. Additional advantages of cloud-based solutions include efficiency when used by various users, reduced initial costs, easy deployment of new projects, no hardware investments, low maintenance costs and reduced infrastructure costs.
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Construction and real estate are expected to witness a higher growth rate during the forecast period
By vertical, construction and real estate are expected to experience a higher growth rate. Managing technicians in the field is a huge responsibility. This includes tasks such as keeping a detailed work log of field technicians, scheduling tasks for them so that their time in the field can be used properly, and getting their real-time reports. Field activity management solutions provide benefits such as reliable asset tracking, better traceability, and better customer communication with real-time notifications. Field operations management plays a vital role in the real estate services industry for the ongoing maintenance of properties, with more and more organizations using mobile computing to improve communication with the field, increase productivity, streamline work processes and improve customer service and loyalty.
North America hold the largest market size over the forecast period
North America is expected to hold the largest market size in the world Field Activity Management Market during the forecast period. With large-scale implementations of the field business management solution by enterprises in recent years. This region has been extremely responsive to the adoption of the latest technological advancements, including field operations, cloud computing and IoT, within enterprises. The United States is the main contributor through North America, as continuous innovation, as well as the introduction of new technologies, are the main drivers for the growth of the US market. With the increase in the use of field activities and BYOD preferences, there is an increase in the number of data breaches.
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Key and innovative suppliers in Field Activity Management Market are ESRI (USA), SAP (Germany), Fielda (USA), Fulcrum (USA), ProntoForms (Canada), OnSource (US), SafetyCulture (Australia), Field Safety Solutions (Canada), GoCanvas (US), Repsly (US), Fieldwire (UK), FieldEZ (India), FastField (US), MobileLogix (US), Corrata (Ireland), Thundermaps (New Zealand), Logistics services (Canada), Bentley Systems (USA), Webuild (Australia), Smart Service (US), Device Magic (US), Forms On Fire (US). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global business management market. ground.
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