Field Service Management (FSM) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Field Service Management Market (hereafter referred to as the market studied) is expected to register a CAGR of 15.12% during the forecast period (2022-2027). Field service management firms are experiencing immense pressure to effectively lead teams and ensure safety compliance with the outbreak of COVID-19, where the risks are running high. There is no space for miscommunication or distrust. According to Harvard Business Review, before the pandemic, the U.S. average for organizational trust was only 70%. Seeing as stressful situations exacerbate fear and distrust, it is even more critical at this point to focus on developing confidence within the organization.
Key HighlightsThe market landscape of the Field Service Management (FSM) market remains quite fragmented. Various vendors of pre-packaged FSM software solutions exist, but no single FSM vendor has ever dominated the global market or any regional markets. Several players are forming, partnerships, and collaborations in the market.
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