Field Service Management Market Size

Field Service Management Market size was over USD 6.59 billion in 2024 and is anticipated to exceed USD 40.12 billion by the end of 2037, witnessing over 14.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of field service management is evaluated at USD 7.38 billion.

The growth of the market can be attributed to the increasing adoption of digital technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), to improve the efficiency of field service operations. For instance, estimates indicate that 37% of companies are using AI, while 43% are considering implementing it in the future. Also, 90 percent of leading businesses invest continuously in AI. It is also estimated that 95 million people will work in the AI industry by 2025. The use of AI-based technologies is expected to revolutionize the field service management market by automating manual tasks and increasing efficiency, reducing cost and time, and improving customer satisfaction. AI-based technologies can also help in predictive maintenance and provide higher accuracy in decision making.

In addition to these, factors that are believed to fuel the market growth of field service management include the ever-increasing demand for improved customer service, the need to reduce operating costs, and the availability of technologically advanced solutions are some of the factors driving the growth of the field service management market. In the age range of 16-24, 70% of consumers believe that a quick response from a customer service team can dramatically improve their experience. Furthermore, 88% of customers become brand champions after receiving good customer service. Customers are becoming increasingly demanding when it comes to customer service, wanting fast answers, personalized solutions, and timely responses. Companies are looking for ways to meet these demands, and field service management solutions can help them do that by providing streamlined processes and increased efficiency.