New York City, NY -- (SBWIRE) -- 09/04/2020 -- Among the key factors driving the growth of the global field force automation market is the increasing usage of such solutions by the retail and e-commerce industry. As a result, the industry size would grow to $9,033.0 million by 2030, from $1,196.9 million in 2019, at a 20.9% CAGR between 2020 and 2030. The sector faces numerous challenges, including rising labor costs, raw material cost inflation, complex supply chain management process, and changing consumer demands.
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Due to the current COVID-19 situation, the demand for such solutions has witnessed a robust increase. Owing to the shutting down of many commercial and industrial activities, organizations are expected to automate their field operations, to derive real-time insights. Additionally, the focus on digital transformation is high, and after the lockdown is lifted, businesses would automate their sales processes for maximum profit.
Based on deployment, the field force automation market is divided into on-premises and cloud categories. Of these, the cloud division accounted for a majority of the market share in the past. Furthermore, this category will exhibit faster growth in the market over the next several years. This is credited to the rising integration of cloud computing solutions in business operations on account of their high flexibility of data access and greater data storage capacities and the reducing expenditure in the information technology (IT) sector in various enterprises. Additionally, the field force automation applications running on cloud technology allow the planning and controlling of field operations and the storage of data, including essential information on the cloud.
Presently, the highest revenue contributor to the market is North America, as investments in IT infrastructure are rising, presence of numerous market players, adoption of mobile applications, for gathering real-time field information, is high, cloud technology is becoming popular, demand for industrial automation is increasing, and advanced technologies, such as facial recognition, internet of things (IoT), and machine learning (ML), are being adopted by businesses in the continent. In future, the industry growth in Asia-Pacific (APAC) would be the most rapid, because of the increasing awareness about computerized field sales operations, need for identification and analysis of customers' buying patterns, high industrialization rate, and rising demand for utilizing real-time data for sales forecasting.
Browse report overview with detailed TOC on "Field Force Automation Market Research Report: By Offering (Solutions, Services), Enterprise (Large Enterprises, SMEs), Deployment (Cloud ,On-Premises), Pricing Model (Subscription-Based, Free, Quote-Based), Application (Sales Order Management, Customer Service, Lead Management), Vertical (IT & Telecom, Manufacturing, Logistics & Transportation, Healthcare, Retail & E-Commerce, BFSI) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/field-force-automation-market-report
The players operating in the market are developing and launching products frequently, for meeting the rising customer demands and expanding their operations and offerings. For example, Salesforce.com Inc. developed a solution called the Consumer Goods Cloud in September 2019, which assists the retail organizations in achieving major revenue growth and high ROI (return on investment). The company integrated the Consumer Goods Cloud solution with the Salesforce Einstein AI possessing object detection and image recognition capabilities for managing merchandising compliance inspections and inventory effectively, which will, in turn, lead to decreased auditing time periods and improved relationships with customers.
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