The worldwide market for field service management (FSM) solutions is
expected to grow at a compound annual growth rate (CAGR) of 7.8% over
the next five years, says a study from the ARC Advisory Group. The
market was valued at $364.6 million in 2007 and is forecasted to reach
$532 million in 2012.A number of publicly traded, best-of-breed FSM
suppliers have been reporting strong revenue growth over the last few
years. The FSM revenues of these suppliers registered a CAGR of 17% for
the 2004-2007 period. Solid growth will continue and is expected to be
driven largely by an increase in maintenance outsourcing and OEM
post-sales service to asset-intensive
manufacturers.
Novel technologies, such as mobile
wireless, geographic information systems and remote asset monitoring,
are expected to stimulate growth in the FSM market. In addition, FSM
software has enabled service organizations to more effectively
administer the complexities associated with managing an overabundance
of information and a large, often geographically dispersed
workforce.
For more information on the study,
Field Service Management Solutions Worldwide
Outlook, visit
www.arcweb.com.
