9/9/2021

30 Field Service Stats You Need to Know

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Felix Morgan Editor

The field service management market is forecast to grow at a CAGR of 11%. At this rate, the FSM market that has an estimated value of $3 billion in 2020 will reach $5.1 billion by 2025 (MarketandMarkets, 2020). In this time of rapid digital transformation, changing customer expectations, and the increasing complexity of products, equipment, and the services needed to support them here are 30 stats every FSO needs to know.

What are the biggest challenges facing field service organizations?

(according to Verizon Connect, 2020)

The impact of COVID-19 has reshaped the entire service landscape, and supercharged the momentum for digital transformation.

Customer expectations are changing, with an emphasis on technology, self-service, and fast reliable support.

Field technicians need more skills and more access to shared knowledge and training to complete their tasks.

Leaders agree that AI and AR Technology is important for the future of field service.

The skills gap is widening, due to a combination of retiring experts, fewer incoming technicians, and long training times.

As IoT devices quickly gain popularity, customer and technician needs are changing to support them

Remote visual support has been shown to improve productivity, shorten training times, help address skills gaps, and increase customer and technician satisfaction.