The field force automation market is projected to rise and generate revenue worth $9,033 million in 2030, ascribed to the surging smartphone and mobile internet penetration, with an increasing concentration on leveraging advanced technologies, including the internet of things, artificial intelligence, and cloud computing in field force automation solutions and increasing requirement of the automotive repetitive activities.
The field force automation industry is projected to rise due to COVID-19, due to lockdowns in various countries. It will result in high demand for automated field operations for real-time insights collection. Moreover, the increasing adoption of digital initiatives and fast production pace encouraged numerous industries to the adoption of automated solutions in the near future.
Under the offering segment, the service category is projected to reflect substantial growth in the coming years, owing to the huge demand for system integration, maintenance, installation, and support for a regular software update to its latest version, improving the productivity of resource, and project lifecycle streamlining.
Moreover, the service category holds a substantial share of the field force automation industry, and it is projected to reflect faster growth in the coming future. It is owed to the wide adoption of professional services such as training, consulting and support, and education for field force automation solutions deployment. Businesses are employing these solutions for real-time data collection and analyses to acquire meaningful information to make fast decisions with next-generation technologies integration.
The large enterprises generate significant revenue in the field force automation industry, ascribed to the surging procurement of field force automation solutions. It enhances business productivity, supports data-driven decision-making, simplifies complex work operations, and maps field agents’ performance.
In addition, the SMEs are expected to reflect faster growth in the near future led by rapid digitization of SMEs, cloud computing technologies, and mobile-based solutions adoption by enterprises.
Under the pricing model, the subscription-based category captures significant revenue, attributed to the ease of availability of yearly and monthly subscription plans of such solutions. The subscription plans are designed considering the customers’ requirements and the number of users of the service. In addition, the companies offer a free trial for a limited number of days that supports users in selecting the plans that suit caters requirements.
Under the application segment, sales order management captures the largest share of the industry due to the increasing automating field sales activities demand. It includes data analysis, inventory management, area, and locality-based work shift scheduling, and real-time insights collection into the lead lifecycle and product inquiries.
North America is an extensive user of field force automation solutions, owing to the high investments in the IT infrastructure, and rising mobile applications adoption for real-time field information collection. The high industrial automation demand, rising preference for cloud computing, rapid integration of advanced technologies, such as IoT, ML, and facial recognition in numerous business activities, along with the presence of major companies in the region boosts the industry.
Therefore, the technological evolution with improved productivity and quality of business processes, led by the integration of AI and ML boosts the field force automation solutions.