Technological Advancements Driving the Field Force Automation Market: FMI, Inc. Perspective

The global field force automation market is predicted to be worth $1,724.2 million in 2022 and $1,970.7 million in 2023. The market is expected to be worth US$ 10,725.9 million by 2033, with a 17.4% growth rate over the forecast period.

Major factors resulting in the expansion of the market are projected to be the growing mobile internet penetration, increasing focus on leveraging advanced technologies, the Internet of Things, and AI, among others.

The deepening penetration of connected appliances and the emergence of advanced technologies is predicted to propel the industry in the forecast period. Moreover, the rapid deployment of next-generation technologies like ML, cloud computing, robotics, and computer vision has resulted in the digital transformation of business entities.

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On the contrary, challenges associated with the growing number of cyberattacks are expected to hamper the market. Moreover, the field force automation service software consumes too much time during data entry. Also, they are difficult to accustom to software systems, which is yet another factor inhibiting the demand for field force automation services.

Key Takeaways:

The global field force automation market is estimated at USD 10.1 Billion while recording a CAGR of 17.6% during the forecast period.
The solution segment to expand at a CAGR of 16.6% from 2022 to 2032
The cloud segment to record a 16.8% growth rate
The U.S market to hold a market value of USD 3.5 Billion in 2032
The U.K market to secure USD 433.4 Million during the forecast period
The China market to garner USD 725 Million during the assessment period

Competitive Analysis

Key players in the global field force automation market are ServiceMax, ClickSoftware, Oracle, Microsoft, Salesforce, among others.

Recent key developments among key players are:

In April 2019, Trimble launched the Trimble PULSE Remote Expert. It is an Augmented Reality (AR) equipment that improved the productivity of field service workers by connecting them with experts via audio, video, and spatial annotations in real-time.
In May 2019, Microsoft updated the capabilities of Dynamics 365 for Field Service. The update would allow the end customers to use IoT capabilities and enhance field productivity.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global field force market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

Key Segments Covered In The Field Force Automation Industry Survey

By Components: