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Field Service Stats You Need to Know

When building a company that lasts, it is essential to keep tabs on the numbers.  Many companies in Australia and New Zealand are finally seeing the beauty of field service management software especially concerning mobility, operational efficiency and increase in cost savings.  

The numbers tell where field service management software stands in our industry today.

  1. Stratisrics, a global research company  in marketing, predicted that field service software market would reach  $4.45 billion by 2022.  

There is no denying that the 16.5% compound annual growth rate showed a strong push coming from the field service management market.  Schedule and dispatch took the lion’s share in terms of features that field service clients look for.

  1. Tech research firm Gartner predicted that 75% of field service organizations utilize mobile applications that features more than simplified data collection and enhanced capabilities useful for field technicians by the time 2020 comes in.

Field service management banks on many capability features that enhances technicians’ productivity in the field. These could be anywhere from tracking, service history, inventory control or even electronic signatures. 

  1. More and more field service companies are moving towards a service-based model, according to the Technology Services Industry Association (TSIA).

By focusing on servitization, which is providing service components as an added value to products, more field service companies are turning towards service-based models which cater new demands and sends infinite possibilities. Because of servitization , there are now advanced services  which are providing sustainable revenue and opening up opportunities for businesses. These become the real game-changers in the field service companies.

  1. Artificial Intelligence (AI) field service applications will handle 10% of emergency field work by the year 2020 as predicted by Gartner research team.

From scheduling to predictive maintenance, AI field service applications are on the rise making it possible that these service feature can also handle more complicated tasks in the future.

The significant statistics about field service management software and other related industries are just a few to mention.  Indeed, the future in field service applications is bright, and this sends waves of many more infinite possibilities to come.


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