SERVICE LIFECYCLE MANAGEMENT APPLICATION MARKET ANALYSIS

Service Lifecycle Management Application Market, By Service Based Models (Dealer-based Model, Performance-based Model, Depot-based Model And Field-based Model) By Solutions (Customer Contact & Support, Field Service Management , Warranty & Service Management, Service Parts Information Management), By Software Type (Cloud-based Software and Web-based Software), By End-use Industry (Automotive & Transportation, Aerospace & Defense, Medical Equipment, High Technology , Industrial Machinery & Equipment and Telecommunication) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Jun 2020
Code : CMI3930
Pages :130
Formats :
Excel and PDF
Industry : Information and Communication Technology

Service Lifecycle Management Application MarketSize and Trends

The global Service Lifecycle Management Application Market was accounted for US$ 1651.03 Mn in terms of value in 2019 and is expected to grow at CAGR of 7.8% for the period 2020-2027.

North America held dominant position in the global Service Lifecycle Management Application market in 2019, accounting for 34.7% share in terms of value, followed by Europe and Asia Pacific respectively

Figure 1: Global Service Lifecycle Management Application Market Share (%) in terms of Value, By Region, 2019

The global Service Lifecycle Management Application market was valued at US$ 1651.03 Mn in 2019 and is forecast to reach a value of US$ 2943.79 Mn by 2027 at a CAGR of 7.8% between 2020 and 2027.

Market Trends

Increasing partnership and collaboration activities is a major trend

Key players in the market are focused on partnerships and collaborations, in order to gain a competitive edge in the market. For instance, in May 2016, Siemens PLM partnered with TCS to provide the best-in-class PLM-SLM suite with TCS data analytics support. May 2016, Comptel partnered with IBM and Juniper Networks in an IBM Cloud-Based architecture to provide digital service lifecycle management, technology, and expertise. Moreover, in May 2015, PTC partnered with ServiceMax to introduce the first Connected Field Service.

Research and development activities to innovate novel products

Key companies in the market are focused on research and development activities, in order to gain a competitive edge in the market. For instance, in April 2016, Oracle launched the Oracle Field Service Cloud, known as TOA Technologies, which improves response time and customer satisfaction. Moreover, in January 2015, Tech Mahindra launched an aftermarket platform for predictive maintenance in the automotive industry.