Market Research Future (MRFR) expects the Global Field Force Automation Market 2020 to progress at a rate of 15.2% from 2018 to 2025, which is the forecast period. The market value can be USD 3.05 billion by 2025, projects MRFR.
Top players in the global market for Field Force Automation include SAP (Germany), SalesDiary Inc. (India), FieldEZ (US), Microsoft (US), VisitBasis Tech, LLC (US), ServiceMax, Inc. (US), FieldAssist (India), Acumatica (US), Salesforce (US), Kloudq Technologies (India), Channelplay Limited (India), Leadsquared (India), Oracle (US), Accruent (US) and Nimap Infotech (India), Folio3 Software Inc. (US), and more.
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Top Drivers and Key Restraints
Every industry follows an elaborative set of benchmarks that helps gauge the growth as well as the development. The textile sector puts maximum emphasis on analyzing the evolving propensities and preferences of consumers. This analysis of changing customer preferences involves using data sets that are put into the Customer Relationship Management (CRM) system. This is where the field force automation plays an important role, i.e., helping collect the data from sales nodes as well as other avenues. In the backdrop of soaring demand for FFA across industries to track customer propensities, the global field force automation market is anticipated to note a smooth sail in the coming years.
Emergence of advanced technologies like AI, mobile, IoT, digital platforms, and cloud are influencing the way companies operate. Digital transformation has emerged as a key growth booster in any organization. As a result, a variety of field service organizations and companies that have huge field workforce or field teams are willingly accepting field force automation solution, giving a substantial boost to the market growth.
The global market is on an ascending scale of growth, given the expansion of an innovation-led manufacturing sector. Also, the logistical convenience of automation technologies has resulted in advancements in the industrial framework. Therefore, the rising integration of automation technologies in industries to elevate the efficiency of the workforce can lead to the generation of high cumulative revenues in the global market in the following years.
Field Force Automation Market Trends
The latest trend in the market is the expansion of the telecommunication and utility industries and the mounting demand for field force automation in these industries. These industries have exhibited a massive surge in their productivity after the use of FFA in recent years.
The Global market for Field Force Automation has been segmented based on Component, Deployment, Organization Size, and Vertical.
The components specified in the report are solution as well as service. Solution was identified as the leading segment in 2018, while the service segment is anticipated to develop at the highest rate in the coming years. The service segment consists of integration, implementation and consulting service as well as training and support.
The deployment-wise segments covered in the MRFR report are on-premise and cloud-based solutions. On-premise segment held a higher share in the market in the year 2018. But, the cloud-based solution segment can see better growth in the near future, anticipates MRFR.
The sizes of the organizations that use field force automation include large enterprises as well as small- and medium-sized enterprises. Small- and medium-sized enterprise segment is deemed to expand at a higher rate during the review period.
The vertical-dependent segments are manufacturing, energy and utilities, IT and telecommunication, transportation and logistics, healthcare, and others. The small- and medium-sized enterprises segment can clinch the highest CAGR in the ensuing years.
The field force automation market demand is expected to rise across the primary regions of Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Europe, and South America.
North America is the leading market for field force automation, in terms of revenue. The significant growth-enhancing factors in the regional market include the increasing use of automation solutions among enterprises, especially in the United States (US) as well as Canada. Also, most of the companies in the region are focused on enhancing the user interface of their handheld devices, which is bound to unleash several growth opportunities in the market.
Europe procured the second position in the global market and is mostly concentrated in countries like the United Kingdom (UK), France, Germany, Italy, and Spain, among others. MRFR projects the UK to seize the highest share in the regional market, closely trailed by Germany and France. Significant industry verticals like manufacturing, IT & telecommunication, retail among others, are making extensive use of field force automation solution, thereby boosting the market demand in the region.
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