Growth Opportunities for Field Organizations and MWM Providers
- The North American mobile workforce management (MWM) market continues to demonstrate impressive growth, bringing the benefits of real-time communications and guidance to field workers and their management teams. This sector is leveraging new technologies, selective acquisitions and alliances, and heightened customer and employee expectations to expand annual revenues year-over-year throughout the Frost & Sullivan forecast period.
- Annual revenues from packaged MWM solutions are expected to grow from an estimated $1.03 billion in 2016 to an anticipated $3.76 billion in 2021, with a compound annual growth rate (CAGR) of 24.0%. Major growth opportunities exist around predictive analytics, IoT integration, the home healthcare segment, fleet and asset management integration, and wearable apps.
- The majority of mobilized workforce management solutions originate out of three vendor types: Mobile- first app developers (shrinking in number due to acquisitions), traditional field service management (FSM) solution providers (who have added mobile access as a core capability), and enterprise software suite vendors (who have mobilized the field service elements of their desktop-based portfolios).
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