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Are you looking to add Field Service Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Field Service Management statistics of 2023.
My team and I scanned the entire web and collected all the most useful Field Service Management stats on this page. You don’t need to check any other resource on the web for any Field Service Management statistics. All are here only 🙂
How much of an impact will Field Service Management have on your day-to-day? or the day-to-day of your business? Should you invest in Field Service Management? We will answer all your Field Service Management related questions here.
Please read the page carefully and don’t miss any word. 🙂
On this page, you’ll learn about the following:
Best Field Service Management Statistics☰ Use “CTRL+F” to quickly find statistics. There are total 123 Field Service Management Statistics on this page 🙂
Field Service Management Market Statistics
- The field service management market is forecast to grow at a CAGR of 11%.
- At this rate, the FSM market that has an estimated value of $3 billion in 2020 will reach $5.1 billion by 2025.
- The field service management market is forecast to grow at a CAGR of 11%.
- At this rate, the FSM market that has an estimated value of $3 billion in 2020 will reach $5.1 billion by 2025.
- The global field service market is predicted to account for $4.45 billion by 2023.Stratistics).
- The size of the field service market in 2016 was $1.78 billion, so it’s expected to grow at a 16.5% compound annual growth rate.
- Reports of email marketing’s death have been greatly exaggerated 72% of American adults prefer communication by email.
- The market size of the Field Service Management Software industry is expected to increase 9.1% in 2023.
- The market size of the Field Service Management Software industry in the US has grown 13.0% per year on average between 2017 and 2023.
- was valued at USD 2.85 billion in 2019, and it is expected to reach USD 7.10 billion by 2026, registering a CAGR of 15.4% during the period 2021.
- Factors driving the Field Service Management Market Growth Rate At 20% Repetitive tasks within organizations are accelerated with automation execution abilities, which is seen especially in the field service market.
- The global field service management market size is expected to grow from $3.02 billion in 2021 to $3.64 billion in 2023 at a compound annual growth rate of 20.6%.
- The field service management market is expected to reach $6.51 billion in 2026 at a CAGR of 15.7%.
- The disaster relief logistics market size is set to grow by USD 5.22 billion from 2021 to 2026, progressing at a CAGR of 4.07% according to the latest market report by Technavio.
- The market is projected to grow from USD 3.24 billion in 2021 to USD 8.06 billion in 2028 at a CAGR of 13.9% in the 2021.
- Based on our analysis, the global market exhibited a significant growth of 12.8% in 2020 as compared to the average yearonyear growth during 2017.
- The market is projected to grow at a CAGR of 13.9% during the forecast period.
Field Service Management Software Statistics
- 48% of organizations are using FSM software.
- 51% of fleet management companies use FSM software, while 52% integrate FSM with their fleet tracking solutions.
- 96% of companies that use GPS fleet tracking software find it beneficial.
- 32% of fleet tracking software users reported a positive return on investment six months after implementation.
- 61% of fleet managers think that the most important feature of FSM software is its ability to capture customer information and job details and automatically update records.
- Only 48% of businesses are using field service management software.
- Producing customized field service management software 00.5% increase 0.
- 77% of field service operations use software management FSM solutions to control all processes.
Field Service Management Latest Statistics
- As of 2020, 72% of US fleets use GPS fleet tracking technology, an 8% increase from 2019.
- In 2020, 25% of FSOs were still using spreadsheets for job scheduling, while the rest still use whiteboards and other manual methods.
- 89% of customers want to see modern, on demand technology applied to their technician scheduling, and nearly as many customers would be willing to pay a premium for it.
- The combination of mobility and artificial intelligence improve field service agent productivity by 30% to 40%.
- 73% of field management firms have already incorporated Internet of Things into their operations.
- About 75% of field service businesses that utilize mobility tools have observed increased employee productivity, while the rest have seen customer satisfaction rates rise.
- 77% of FSOs invest in technology and solutions geared towards information enablement.
- 74% of fleet operators consider in cab video telematics as very beneficial or extremely beneficial.
- There are now an estimated 20 million field technicians operating worldwide.
- As a result, FSOs reportedly increased investment in service workers by 72% to meet the rising demand.
- 47% of field service companies are still having trouble getting enough quality technicians and drivers to meet business goals, making it among the top challenges for FSOs.
- 50% of fleet managers think that the ability to quickly reroute field technicians for emergency jobs is the most important factor in their success.
- Keeping everyone updated on schedule changes comes second (48%).
- FSOs with freelance workers can respond to 83% of emergency requests within an hour.
- 78% of FSOs completely stopped deploying technicians to customer sites during the height of COVID.
- 92% of FSO executives want to transform their service models to meet consumer needs.
- The industrial drone fleet industry in the US and Europe is predicted to grow to one million units by 2050.
- 55% of fleet managers and executives reported that the COVID 19 pandemic came with a negative business impact.
- Amid the pandemic, 44% of fleet managers see increasing costs as their top challenge in this time of economic and regulatory uncertainty.
- 75% of consumers don’t like the idea of having field technicians in their homes amid the pandemic unless absolutely necessary.
- About 50% of field technicians and service workers are expected to resort to freelancing by 2025.
- In 2019, the estimated value of the industry was $2.8 billion.
- 52% of companies are sticking with their manual methods for most of their field service tasks.
- As we’ve touched on, the Internet of Things is moving forward and according to Mordor Intelligence, 42% of field service management businesses have deployed it already.
- According to Finances Online, 54% of technicians say a pre visit review of service history is their toughest challenge.
- There are over 20 million field technicians operating worldwide according to Mordor Intelligence, and that number continues to rise.
- Meeting Customer expectations 56% Reduced profit Margins.
- Getting quality technicians and drivers.
- 78%of FSOs completely stopped deploying technicians to customer sites during the height of COVID.
- 55%of fleet managers and executives reported that the COVID 19 pandemic came with a negative business impact.
- Amid the pandemic,44%of fleet managers see increasing costs as their top challenge in this time of economic and regulatory uncertainty.
- 50%of supply chain operators expect that recovery from COVID 19 will take at least six months.
- 89%of customers want to see modern, on demand technology applied to their technician scheduling, and nearly as many customers would be willing to pay a premium for it.
- 75%of consumers don’t like the idea of having field technicians in their homes unless absolutely necessary.
- 90%of consumers identified customer service as a factor in deciding whether or not to do business with a company and86%of.
- buyers said they are willing to pay more for a great customer experience by 2025 as many as95%of customer interactions will be through channels supported by AI.
- 75%of field technicians report that products have become more complex and more knowledge, specifically more technical knowledge, is needed to perform their jobs now vs. when they started in field service.
- FSOs believe AI will have the most impact on improving customer satisfaction (83.81%).
- The majority of FSOs (44.76%) are looking to deploy AI within the next 2 4 years, with some (17.14%) looking to deploy AI within the next 12 months and even (20%).
- The combination of mobility and artificial intelligence improve field service agent productivity by30% to 40%.
- 40%of field technicians believe technologies such as augmented reality and virtual reality are very helpful.
- 73%of service organizations identified the aging workforce as a potential threat to their field service organizations and56%of those companies are implementing remote assistance technologies to help address it.
- 47%of field service companies are still having trouble getting enough quality technicians and drivers to meet business goals.
- About50%of field technicians and service workers are expected to resort to freelancing by 2025.
- 73%of field management firms have already incorporated Internet of Things into their operations.
- About75%of field service businesses that utilize mobility tools have observed increased employee productivity, while the rest have seen customer satisfaction rates rise.
- 77%of FSOs invest in technology and solutions geared towards information enablement.
- Using remote support technology has improved onthe job training and decreased the time to train new technicians by an average of41%.
- Video support is already being deployed by over50%of field service organizations to help technicians perform their jobs more effectively.
- By 2020, 10% of emergency field service work will be both triaged and scheduled by artificial intelligence.
- By 2020, more than 75% of field service organizations with over 50 users will deploy mobile apps that go beyond simplified data collection and add capabilities that help technicians succeed.
- By the end of 2016, the number of field service companies moving to a service based model grew from 9% to 23%.
- 6.The job outlook for HVACR technicians is bright—it is predicted to grow 14% overall between 2014 and 2024.
- In the next three years, over 60% of workers might need replacing.
- 52% of service companies still do things manually—paper, pens, headaches.
- Demand from the industry’s core client base is likely to increase Field Service Management Software in the US industry trends.
- attach_money Market Size $2bn business Number of Businesses 94 poll Average Industry Profit Margin x.x% Purchase this report or a membership to unlock the average company profit margin for this industry.
- 4,098 Biggest companies in the Field Service Management Software industry in the US SAP SE Market Share x.x% Purchase this report or a membership to unlock our full summary for this industry.
- 42% of FSOs have already deployed Internet of Things into their business as of 2018.
- 31% of FSOs are set to deploy IoT in the next 2 years.
- ( HSO Bestin class FSOs that utilize data analytics reported an increase in SLA performance by 44%, increase in customer retention by 42%, and an increase in service profits by 18%.
- ( Hitachi Solutions 80% of FSOs say mobile field service is required to improve efficiency and speed of personnel, 44% say it is needed due to competitive pressures, and 41% say it is required because of the increasing volume of service requests.
- ( HSO Nearly 50% of FSOs identify automation as the greatest contributor to revenue growth.
- ( SelectHub There is now an estimated 20 million field technicians operating worldwide.
- ( Mordor Intelligence 45% of field technicians report that current tools are not fast enough and 38% say they can’t access all the needed information.
- ( fieldpoint Over 62% of field service leaders adopt some level of BYOD in their organization.
- ( HSO 49% of a company’s workforce uses a smartphone or handheld device as the primary tools for communication.
- ( HSO 58% of field service professionals report that their top pressure is competition in service and product.
- ( HSO 80% of technical experts in the field service industry believe that AI enhances workforce skills and efficiency.
- ( HSO Only 15% believe AI takes over human jobs.
- ( HSO 86% of field service leaders are more likely to collaborate with stakeholders through mobile.
- ( Salary.com For Field Service Technician in the U.S., the annual salary range is $28K to $59K with a national average of $41K. ( Glassdoor 50% of organizations consider technician’s soft skills training as either their 1st or 2nd priority.
- ( TFE Times 77% of field service companies already use a contingent or freelance workforce.
- ( Field Nation More than 83% of executives agree that the service department plays a strategic role in the overall business.
- Asia Pacific CAGR 15.4 % Market Overview The Global Field Service Management Market.
- According to Harvard Business Review, before the pandemic, the U.S. average for organizational trust was only 70%.
- In the wake of COVID19, the previously estimated growth of FSM across end user segments is expected to rise as the pandemic restricts the industry professionals and stakeholders from managing their fieldwork remotely.
- The Field Service Management Market is growing at a CAGR of 15.4% over the next 5 years.
- Subscription Ecommerce Market Growth Rate Reaches A Whopping 65%…
- Ingenuity snapped the images with its color camera on April 19, according to NASA.
- The U.S. Office of the Comptroller of the Currency lifted a 10year old consent order with Citigroup Inc, according to an internal memo from the bank viewed by Reuters.
- What’s exciting about our probability adjusted sales pipeline is that it represents 33 to 41% of our annualized first quarter revenue.
- Exacerbating SE Asia Agricultural Challenges More than half of ASEAN policymakers (51%).
- A majority also believe that climate change has a widespread negative impact on agricultural issues in ASEAN such as maintaining soil quality (92%), managing plant disease (88%), ensuring sufficient crop yields (88%), and managing pests/infestations (85%).
- Data analytics improves customer retention by 42% Data analytics increases profits of field service organizations by 18%.
- 52% of operators are still using some form of manual methods to collect data.
- However, 80% of field service technicians state that mobile field service technology is critical to increase their efficiency and effectiveness at helping customers.
- The good thing for businesses is that customers are willing to move providers if they feel their data is more secure, which is likely why 97% of businesses see security as a competitive advantage.
- Most believe the opposite, with 80% of technical experts believing that AI will actually enhance workforce skills and efficiency, not replace humans.
- As per the Infographic HSO CRM report, 49% of the company workforce relies on smartphones or handheld devices as the primary communication tools.
- The report also states that 62% of field service managers are leveraging bring your own device strategy to enhance communication and efficiency.
- In fact, 85% of mobile workers see themselves as responsible for customer retention.
- The majority (60%).
- Empathy matters — and 72% of mobile workers say they have received training on how to be empathetic with customers.
- of mobile workers on high performing teams say that they have a clear path for career growth, compared to just 39% of underperformers.
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th.
- 80% of decision makers at companies with field service say it’s a key part of their overall strategy.
- That matters when 66% of customers expect companies to understand their unique needs and expectations.
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How Useful is Field Service Management
One of the most significant advantages of adopting FSM is the improved efficiency it generates. Gone are the days when businesses relied on tedious and time-consuming manual processes to manage their field service operations. FSM provides an automated solution that eliminates unnecessary paperwork and streamlines workflows. By tracking and scheduling tasks effectively, FSM allows for optimum resource utilization, reducing wasted time and increasing overall productivity.
The real-time updates and communication capabilities provided by FSM are also noteworthy. Field technicians can easily access and update job information on-the-go via their mobile devices. This real-time accessibility means that dispatchers can adjust schedules as needed, promptly answer customer inquiries, and even provide accurate arrival time estimations, resulting in higher levels of customer satisfaction. Furthermore, the ability to exchange information in real-time, such as obtaining equipment manuals or accessing customer history, enables field technicians to resolve issues more swiftly and efficiently.
Moreover, FSM facilitates effective management and monitoring of field service teams. With centralized platforms, supervisors gain better visibility over their workforce, making it easier to assign tasks and monitor progress. Documentation and workflows become standardized, ensuring consistency across the organization. The tracking feature enables supervisors to monitor the service process and ensure that milestones are met, while also enabling them to assess the performance of individual field service technicians. These aspects empower managers to proactively address any bottlenecks or issues before they become major problems.
In addition to these internal benefits, FSM has a positive impact on several external stakeholders, including customers and stakeholders. Scheduling appointments with customers creates a sense of reliability and allows for more efficient customer support. Customers feel valued and appreciated when service providers can immediately confirm appointment times and communicate effectively throughout the service process. This enhanced communication between customers and technicians builds trust, reliability, and ultimately results in higher customer satisfaction levels.
Furthermore, FSM contributes to cost savings in multiple ways. By optimizing schedules and preventing unnecessary travel, fuel costs can be significantly reduced. Additionally, the improved efficiency generated by FSM increases the number of service appointments technicians can handle in a day, reducing the need to hire additional associates. Also, by enabling supervisors to make data-driven decisions, FSM helps identify process inefficiencies and areas for improvement, minimizing resource wastage and unnecessary expenditure.
In conclusion, the benefits offered by field service management cannot be overstated. Efficiency, real-time communication, and enhanced organizational visibility are just a few of the advantages organizations can enjoy with the integration of FSM. The increased customer satisfaction, cost savings, and streamlined operations provided by FSM consolidate its value for any business with field service operations. As the world moves forward, adapting to new technologies and embracing innovative solutions like FSM is imperative for organizations wishing to remain competitive in today’s rapidly evolving business landscape.
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