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Field Service Software Domain: Some Statistics You Must Know

Field Service Software Domain: Some Statistics You Must Know
Knowing your field and related stats help hold a greater understanding of the business. This is a way out to make maximum profit out of the business.

In the quest to making maximum profit from the business, the most important concern is to know your business extremely well. It is possible only when you would indulge in the business to have a closer look of your trade. It also requires familiarity with business related statistics to understand the same. 

When we talk about the stats related to field service software, the domain is huge and the stats keep changing as the business grows. As the market size is growing year after year, the profit size and the stats related to the business are expanding as well.

Have a Look at the Field Service Management Statics

By 2020 the Market Size is Going to Grow Nearly to $4 Billions

The global market size of field service domain is growing with 16% compound annual growth rate. And the biggest areas contributing to this growth is schedule and dispatch management. As the technology in the similar domain is growing at lightning speed, the stats will surge similarly. There is no point in letting your business leave the profit it could easily earn. Therefore, harness your business with the modern tools and techniques in order to give it the required capability to grow well. 

More than 75% of Business owners will employ smartphones in their Businesses

Gartner is behind this prediction and says that smartphones will affect the industry to a greater extent. The use of technology will also increase and it may help the professionals in a number of ways. With the help of technology anything from electronic signature to tracking service system can change drastically in order to make things much easier for the professionals working in the industry as well as for the users consuming these services. 

The Requirement of Productive Software will Increase

The software that helps increase productivity is one of the major requirements of field service software management industry. Such an aid in the business makes it easy for professionals to manage a number of tasks simultaneously. As using software brings automation in the business, it helps in arranging jobs much more quickly than any other similar assistance. There is a huge list of field service management software that helps bring automation into the business. It is a great way to manage the business as the features incorporated in the software are really great to supervise the business. 

More and More Companies will bring Artificial Intelligence into the Business

Artificial intelligence in the business can make scheduling much easier for the professionals working in field service management domain. And that’s not the only way, AR can contribute to the business. From scheduling to predictive maintenance and to using past data to make future predictions, artificial intelligence can do a number of jobs to ease responsibility on worker’s shoulders. 

At least 50% of Field Service Management Companies are Still using Papers not Software

Although the sector has become modern now but at least 50% of field service management companies are using the traditional method i.e. pen and paper to manage their business. Most of the businesses commonly the newly established ones have not yet included the goodness of automation in their business meaning a large number of profit that they might have gained is currently going somewhere else. 

A Huge Number of Workers Might be Replaced by Machines 

Because of automation a number of on-field service professionals might lose their jobs in the upcoming future. As the business is now heavily dependent on software, the requirement of professionals in the industry is lowering at a great ratio. This scenario may lead to a situation where the number of software can easily outnumber human resources. This situation is only going to favor the business as the element of automation is a great driver for both external and internal growth. 

Field Service Companies will Grow to Support Service-Based Model

There is a new concept growing in the industry as an effect of which the company makes money by providing service and information as a part of extended job profile. This includes providing the information along with the primary products and services. And all this is there to benefit the business and the consumers so that the services could be made much more customer-friendly. 

The Bottom Line 

Field service management business is growing exceptionally well and the companies offering related software have a really bright future ahead. As per the stats prescribed above, the number of companies will also grow in the upcoming years thus making it easier for the clients to hire required assistance. Such services are now also available online and thus the clients can easily look out for such services. 

Business details
Field Titan offers impeccable software solutions to make on-field management much easier for the professionals. We have field service software that enables businesses to manage their processes.