The field mobility solutions market as valued at US$8.767 billion for the year 2019 growing at a CAGR of 7.29% to reach the market size of US$13.373 billion by 2025. The growth of this market is majorly attributed to the rising penetration of smartphones and other mobile internet devices like tablet PCs. Furthermore, the growing trend of wireless connectivity solutions is also expected to drive the demand for these solutions, and thereby add up to the growth of the market significantly. In addition, the burgeoning popularity of Software-as-a-Service (SaaS) over cloud-based solutionsis also anticipated to bolster the demand for these cost-effective field mobility solutions, especially across the SMEs. Moreover, rapid technological advancements and innovation taking place in the field of mobile connectivity due to heavy investment into R&D will most probably provide lucrative opportunities for further growth in field mobility solutions market in the future.
Rising penetration of mobile devices is anticipated to drive the market growth
The rapidly growing penetration of portable and handheld computing devices such as smartphones, tablets, and laptops is one of the key factors spurring the market growth of field mobility solutions during the forecast period. Field mobility is about empowering the business workforce operating in the field with state-of-the-art technological solutions like mobile devices, wireless connectivity, and a cloud-based field services management software and giving them access to all the resources and data in order to execute their business objectives efficiently, thereby enabling the organizations to improve the overall efficiency and also help them in the reduction of operating costs. The growing number of mobile devices such as smartphones and mobile tablets has fuelled the adoption of field mobility solutions by businesses, especially small and medium scale enterprises (SMEs), because of the huge cost advantage they provide and hence, acted as a major driver in the field mobility solutions market all across the globe.
Oil and Gas Industry to hold a decent share in the market
By the end-user industry, the field mobility solutions market is segmented as food and beverage, oil and gas, healthcare, BFSI, and others. Oil and gas industry is expected to hold a significant share on account of increasing adoption of IoT and mobile devices due to the increase in operations. Furthermore, increasing investments by both private and public players are coupled with increased adoption of automation and mobile devices are expected to augment the demand for mobility solutions in this industry. The application of mobility solutions across the industry has led the enterprises to be it big, small or mid-sized to overcome the bottlenecks and increase their efficiency. Due to numerous advantages of these solutions, the companies are able to capture real-time data, integrate with IoT applications which enable them to save the cost, improve safety and increase productivity. Due to all these factors, the players in this industry are spending heavily on the adoption of new technology which is further expected to drive the demand and market growth opportunities for manufacturers and vendors over the next five years.
The market for field mobility solutions for the healthcare industry is projected to grow substantially throughout the forecast period due to the increasing investments in the healthcare sectors for the adoption of advanced solutions to cater to the growing needs of improving patient care both in terms of safety and quality. Furthermore, the BFSI and food and beverage industry are projected to witness an increase in the demand for field mobility solutions over the forecast period owing to the growing demand for data accuracy and efficiency improvements in sales and services.
Tablets expected to rule the market
By devices, the field mobility solutions market is segmented into smartphones, tablets, PC/laptop and others. The rising investments by key technology providers in the form of R&D for developing the latest and advanced products with an aim to cater to the needs of the major end-user industries is further increasing the integration of many advanced technologies into these devices in order to widen their scope of the application while adding ruggedness to their overall design For instance, in February 2019, Samsung launched a new rugged tablet, Tab Active 2, for businesses in India. This military-grade certified (MIL-STD-840G) tablet is built to withstand accidental shocks, vibrations, rain, and dust, and is protected by Samsung’s defense-grade Knox security system. This makes this tablet fit for application across sectors like law enforcement, defense, e-commerce, logistics, and manufacturing among others. Furthermore, the wide adoption of tablets due to high configurations and performance abilities coupled with high efficiency is also one of the key factors boosting the adoption of tablets as field mobility solutions.
Smartphones are anticipated to witness decent growth throughout the forecast period on account of the proliferation of smartphones especially in developing countries is increasing their use among professionals in field services.
Asia Pacific region expected to witness notable growth over the forecast period
Geographically, the global field mobility solutions market is classified into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. North American region is expected to hold a noteworthy share in the global market on account of the presence of a well-established infrastructure and the early adoption of the technology. In addition, the presence of the key market players in the country coupled with the high adoption of connected devices also supplement the growth of the market in this region. Europe is expected to hold a decent market share due to government initiatives and regulations regarding workers' safety and high penetration of automation across the numerous industry verticals. The market in the Asia Pacific region is anticipated to show robust growth opportunities throughout the forecast period on account of rising penetration of connected and handheld devices. In addition, the rapid industrialization coupled with the rising digitization trend also support the growth of the market in this region during the next five years.
Major players in the field mobility solutions market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.Prominent key market players in the field mobility solutions market include IBM, Uscan Enterprise Inc, Barcodes, Inc. , and General Electric among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.