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According to The Business Research Company’s research on the field activity management market, increasing concentration on SaaS-based solutions has emerged as a key trend gaining popularity in the field activity management market. Software as a service (SaaS) is an abbreviation for a software distribution model in which a cloud provider hosts applications for quick access by end users. Major companies operating in the field activity management sector is incorporating SaaS-based solutions to effectively track and manage resources. For instance, in October 2021, Opsivity, Inc., an Australia-based field service management company, launched its SaaS-based services in the US market. Customers in the United States can now access Opsivity’s SaaS-based solutions for real-time remote field support and management. Opsivity also leverages artificial intelligence (AI) and augmented reality (AR) to harness knowledge and share operational expertise across field teams in order to solve technical issues in real-time and increase productivity in industries that face labor shortages.
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The global field activity management market size is expected to grow from $0.94 billion in 2021 to $1.14 billion in 2022 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The field activity management market share is expected to grow to $2.12 billion in 2026 at a CAGR of 16.8%.
Increasing adoption of automation and