APAC Field Service Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.18 Billion |
| Market Size (2029) | USD 5.36 Billion |
| CAGR (2024 - 2029) | 19.68 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Field Service Management Market Analysis
The Asia Pacific Field Service Management Market size is estimated at USD 2.18 billion in 2024, and is expected to reach USD 5.36 billion by 2029, growing at a CAGR of 19.68% during the forecast period (2024-2029).
The field service management industry has been seeing rapid growth over the last few years, lifted by the growing demand for time and cost-effective solutions. The Field service organizations realize that adopting digital technology can play a very significant role in terms of closing the gap for various technician workforce shortages, and so they are widely adopting various field service management solutions.
- Field service is on an upward trajectory globally, and one region leading the charge to challenge the overall US dominance of the sector is the Asia-Pacific. The reason behind this rapid growth trend is attributed to the fact that the region's emerging markets (such as China and India) are home to a wide range of small and medium-sized enterprises (SMEs). As per the data from OECD, the estimated number of small and medium-sized enterprises (SMEs) in Asia in 2021 was 186.1 million, whereas, in the year 2020, it was 182.31 million. This rise in the total number of SMEs will significantly boost the market for field service management in the Asia Pacific region.
- The continuous increase in the number of these enterprises leads to a sympathetic growth in the competition. This, in turn, fuels the introduction of various new innovative technology, such as automation for various business processes like job invoicing, billing and scheduling, and service delivery. There is also a rising demand to reduce operating costs and increase productivity. The emergence of new technologies such as mixed labor models and IoT are also promoting the growth of the market.
- The market for Asia Pacific field service management has historically been subjected to significant growth owing to the rising adoption of real-time collaboration systems at the end-user segments. This is anticipated to foster the growth of the market during the forecast period. Moreover, the ongoing COVID-19 pandemic has resulted in a significant boost in market growth.
- One of the top business challenges for the organizations related to field service, was dealing with parts and logistics. In the Asia-Pacific region, SuiteCommerce is a demanding scalable business solution pre-integrated into NetSuite, involving order management, customers, and an enhanced customer center solution for My Account. The Field service companies primarily tend to use this software to sell their products via the website, both direct to business and direct to consumer.
- The COVID-19 had significantly impact on both large corporations and SMEs. Key industries include manufacturing, automotive, textile, transportation and logistics, tourism and hospitality, and consumer goods have been forced to close due to global country-level lockdowns. Furthermore, as the economy adjusts to this new, remote manner of conducting business, COVID-19 reaffirmed the necessity for enterprises to think beyond their conventional field service operations and create strategies to be resilient through the use of intelligent technologies.
APAC Field Service Management Market Trends
This section covers the major market trends shaping the APAC Field Service Management Market according to our research experts:
Adoption of Field Service Management Solutions in India is Increasing at a High Pace
- India is one of the crucial markets for field service management solutions, cloud, and AI. The rising AI and cloud adoption among SMEs and the growing investments by all the end-users in AI technology are some of the significant factors enhancing the market's growth.
- The region is anticipated to witness massive growth, owing to the ongoing investments by small and medium organizations. SMEs are investing a huge sum of money to maximize the overall adoption of cloud-based and technologically advanced solutions for field service management. Moreover, the country India offers significant growth opportunities in the market.
- For instance, as of March 2022, as per the Ministry of Micro, Small & Medium Enterprises, India has over 7.9 million MSMEs (micro, small and medium enterprises). Given that the MSMEs and government are relying on scalable IT solutions and systems, it is quite understandable that they would like to shift their sensitive information and processes to the cloud.
- Moreover, the FSM market has a wide scope in India, primarily due to large-scale industrialization. The country is anticipated to exhibit steady growth in the field service management market with advanced geographic zones and a high client base. The steady rise in the overall number of technology users in the country further propels the growth of the field service management market.
- Before COVID-19, Field Service Management Summit occurted in India, which covered the topics such as skills, technology, and change management strategies required to fulfill the rising complexity of the field service touchpoint, the future of IoT for field services management, addressing the key challenges in third-party workforce management and third billing, enhancing first-time fix rates to achieve higher customer satisfaction, profits, etc.
Large Enterprises to Hold Significant Market Share
- The growing adoption of field service management solutions in large enterprises is relatively greater than SMEs in the Asia Pacific region. The affordability and the large scale of economies of the Large organizations enable them to deploy customer management, warranty management, inventory management, and billing and work order management solutions on a greater scale.
- Among the current field service management software, customer management has become one of the key priorities for the companies as it allows the organizations' brand recognition and assists in retaining customers. Enterprises are widely focusing on offering a fast and smooth experience to the customer, which has positively impacted the demand and requirement for the field service management market in the region.
- Enterprises across various industries are seeing various digital transformations and investing in customer engagement solutions. Also, a change from the traditional platforms, like CRM, is notably evident across enterprises. Therefore, such a shift among the enterprise projects may provide more excellent prospects to the manufacturers and vendors in the market over the forecasted time period.
- Moreover, key vendors in this region concentrate on strategic alliances to increase their geographical reach. In August 2022, Microsoft (COLOMBO, Sri Lanka) and WSO2, a key open-source integration vendor, announced a strategic agreement to roll out cloud-native solutions for securely delivering APIs, applications, and digital identities to areas all over the world via Microsoft Azure. Due to the agreement, the integration vendor will also use Microsoft Azure as its primary cloud platform.
- Additionally, as a result of digital transformation, Larger enterprises are adopting cloud-integrated contract management solutions. Better management is made possible by it, and businesses in both the public and private sectors are able to write, negotiate, sign, approve, track, and renew contracts in one convenient spot.
- Alongside the advantages of deploying field service management software for large enterprises, the rising industrial sector in the maturing economies of the APAC region opens up new opportunities for the integration of field service management software. For example, according to the Asian Development Bank, in 2021, the value added in the industry sector in Bangladesh registered a growth rate of 10.3% year-on-year.
APAC Field Service Management Industry Overview
The market for Asia Pacific Field Service Management studied is moderately competitive, which is due to the presence of considerable number of global and regional players. The primary strategies adopted by these firms involve mergers and acquisitions, product innovations, and expansions. The key players dominating the market are Salesforce.Com Inc., Microsoft Corporation, IFS AB, Trimble Inc, and Oracle Corporation.
- August 2021 - A leader in service parts and contracts management, including inventory, pricing, and IoT-based preventive repair monitoring solutions, Mize Inc. combined with Syncron. The combined company will, in the future, utilize the Syncron name and will focus on delivering connected service experiences and accelerating new service-centric business models. Moreover, the companies are focusing on investing significantly in innovation and expanding their global coverage, including Asian markets.
- July 2021 - ServiceMax, a firm dealing with asset-centric field service management, declared that it has entered into a definitive agreement to obtain LiquidFrameworks, a provider of mobile field operations management solutions. The acquisition aims to advance ServiceMax's field service management solutions for industrial, environmental, and oil and gas services.
APAC Field Service Management Market Leaders
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Salesforce.com Inc.
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Microsoft Corporation
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IFS AB
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Trimble Inc.
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Oracle Corporation
*Disclaimer: Major Players sorted in no particular order
APAC Field Service Management Market News
- August 2022 - ServiceMax, a leader in asset-centric field service management, declared the continued expansion of ServiceMax Core by adding new extra features that can fuel better customer field service management performance, revenue, and margin growth. These advancements benefit not only administrators, field technicians, planners, and dispatchers but also an increasing scope of roles associated with expanding operating margins, driving customer value, and improving revenues.
- October 2021 - Salesforce introduced four new capabilities for Field Service to help businesses equip their mobile workforce for the future. These features will enable businesses to scale field service resources to handle more complex jobs, customize mobile workflows to improve employee experiences, provide customers with self-service scheduling, and use video to troubleshoot issues in real-time.
APAC Field Service Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definiton
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Market
4.4 Analysis of the Major FSM Use-cases (Emergence of AR/VR for Remote Assistanc, Focus on Predictive Maintenance for Customer Retention and Service, Gradual Transition Toward Back-end Automation)
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Customer Demand for Quicker Response Time enabling FMS Companies to Invest in New Technologies
5.1.2 Growing Emphasis on Maximizing Work Efficiency
5.2 Market Challenges
5.2.1 Implementation/Integration Issues and Licensing Costs (Cost and ROI challenges)
6. MARKET SEGMENTATION
6.1 By Deployment Type
6.1.1 On-premise
6.1.2 Cloud
6.2 By Organization Size
6.2.1 Small and Medium Enterprises
6.2.2 Large Enterprises
6.3 By End-User
6.3.1 Allied FM (Hard - Building and HVAC and Soft - Landscaping and Cleaning)
6.3.2 IT and Telecom
6.3.3 Healthcare and Lifesciences
6.3.4 Energy and Utilities
6.3.5 Oil and Gas
6.3.6 Manufacturing
6.3.7 Other End-Users (Transportation, Real Estate, etc.)
6.4 By Country
6.4.1 India
6.4.2 China
6.4.3 Japan
6.4.4 Australia
6.4.5 Rest of Asia Pacific
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Field Aware US, Inc.
7.1.2 Oracle Corporation (OFSC)
7.1.3 IFS AB
7.1.4 ServiceMax Inc.
7.1.5 ServicePower, Inc.
7.1.6 Coresystems (SAP SE)
7.1.7 Microsoft Corporation (Dynamics 365 for Field Service)
7.1.8 Accruent LLC (Fortive Corp)
7.1.9 Mize, Inc.
7.1.10 Salesforce.com, Inc. (Field Service Cloud)
7.1.11 Zinier, Inc.
7.1.12 Trimble Inc.
7.1.13 The simPRO Group Pty Limited
7.1.14 Kirona Solutions Limited (Advanced)
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK
APAC Field Service Management Industry Segmentation
Field service management-based solutions have emerged as one of the vital segments within the entire customer service sector in the wake of the ongoing enhancements in the MRO and the IT service industry, which has led to a broader emphasis, especially on retaining existing customers by offering value-added services. The key metric captured in the study indicates the annual revenues accrued through Field Service Management across the regions.
The market for Asia Pacific Field Service Management is segregated by Organization size (small and medium enterprises, large enterprises), End development type (On-premise, Cloud), -User (Allied FM, IT and Telecom, Healthcare and Life science, Energy and Utilities, Oil and Gas, Manufacturing ), and Country.
| By Deployment Type | |
| On-premise | |
| Cloud |
| By Organization Size | |
| Small and Medium Enterprises | |
| Large Enterprises |
| By End-User | |
| Allied FM (Hard - Building and HVAC and Soft - Landscaping and Cleaning) | |
| IT and Telecom | |
| Healthcare and Lifesciences | |
| Energy and Utilities | |
| Oil and Gas | |
| Manufacturing | |
| Other End-Users (Transportation, Real Estate, etc.) |
| By Country | |
| India | |
| China | |
| Japan | |
| Australia | |
| Rest of Asia Pacific |
APAC Field Service Management Market Research FAQs
How big is the Asia Pacific Field Service Management Market?
The Asia Pacific Field Service Management Market size is expected to reach USD 2.18 billion in 2024 and grow at a CAGR of 19.68% to reach USD 5.36 billion by 2029.
What is the current Asia Pacific Field Service Management Market size?
In 2024, the Asia Pacific Field Service Management Market size is expected to reach USD 2.18 billion.
Who are the key players in Asia Pacific Field Service Management Market?
Salesforce.com Inc. , Microsoft Corporation, IFS AB, Trimble Inc. and Oracle Corporation are the major companies operating in the Asia Pacific Field Service Management Market.
What years does this Asia Pacific Field Service Management Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Field Service Management Market size was estimated at USD 1.82 billion. The report covers the Asia Pacific Field Service Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Field Service Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Field Service Management Industry Report
Statistics for the 2024 APAC Field Service Management market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. APAC Field Service Management analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
