MarketsandMarkets forecasts the global field activity management market size to grow from USD 1.0 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. Field activity management is the practice of managing field activities, including physical assets, associated workforce, and equipment using software, workflows, and communication solutions. Field activity management solution consolidates and captures the data related to mapping and scheduling, location data, and time and expense tracking under one platform and helps in efficient utilization, visualization, tracking, and management of assets on the field.
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The services to record a higher growth rate during the forecast period
In the field activity management market by component, the services is expected to record a higher growth rate during the forecast period. Services play a vital role in the deployment and integration of field activity management solutions. Services are considered an important part as they are instrumental in fulfilling the custom requirements of the clients. Based on services, the field activity management market has been segmented into consulting, implementation and integration, and training and support. These services help implement field activity management solutions in a cost-efficient manner to effectively accomplish business processes within the timeframe and budget.
SMEs are expected to hold a larger market share during the forecast period
By Organisation size, SMEs are expected to hold the largest market size in the present market, as SMEs are majorly focusing on utilizing field activity management solutions to go global and manage workers in various locations as well as analyze and act toward better workforce satisfaction. Field activity helps SMEs by providing them with a personalized approach, centralized portal, advanced analytics, and broad suites that help drive employee engagement and tailor all aspects of the employees’ workflow in a better way.
Field activity automation and integration of cloud and mobility, predictive analytics, and the emergence of IoT and AI provide major opportunities for field activity management vendors to enhance their product portfolios. The integration of mobile capabilities has enabled field activity management solutions to provide information about product delivery, product inventory and dispatch, and work orders. It has also encouraged field activity management vendors to offer superior and cost-efficient solutions to improve organizational productivity. Cloud service providers have been offering improved service management solutions according to the needs of large enterprises and SMEs. The integration of Machine-to-Machine (M2M)-linked services and mobility plays a crucial role in field activities, as it helps in automating the work processes, along with real-time reporting based on analytics. This reduces human efforts and enables efficient task completion.
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The report covers the competitive landscape and profiles of major market players, such as ESRI (US), SAP (Germany), Fielda (US), Fulcrum (US), ProntoForms (Canada), OnSource (US), SafetyCulture (Australia), Field Safe Solutions (Canada), GoCanvas (US), Repsly (US), Fieldwire (UK), FieldEZ (India), FastField (US), MobileLogix (US), Corrata (Ireland), Thundermaps (New Zealand), Logistrics Services (Canada), Bentley Systems (US), Webuild (Australia), Smart Service (US), Device Magic (US), Forms On Fire (US). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global field activity management market.
ESRI provides field activity management such as ArcGIS, Real-time visualization and analytics, asset tracking and analytics, and consulting. ArcGIS provides a suite of field apps, which enables organizations to transform field operations digitally. ArcGIS offers tools and techniques to coordinate with the field team and get real-time data back to the office, which enables field and office teams to work on same real-time data. Real-Time Visualization offers real-time monitoring of data and gains insights through location intelligence. It helps in situational analysis, which enables the firm to make real-time decisions at the right time and at the right place.
ESRI focuses on Y-o-Y growth with organic and inorganic growth strategies. For instance, in December 2021, ESRI and Microsoft partnered to deliver data related to imagery analysis captured by satellites in space. ArcGIS image technology offered by ESRI processes and analyzes image data hosted on Microsoft’s Azure Orbital.
SAP is one of the prominent players in the field activity management market. The firm intends to provide field activity management software, which is offered to the oil and gas industry to modernize its production and distribution process with the help of the unified management plan to streamline field activities.
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