FAM application categories encompass local field fleet management, field service parts/inventory tracking, and mobile product/cargo tracking. Real time monitoring leads to better protected and managed assets.
New analysis from Frost & Sullivan (wireless.frost.com), North America Field Asset Management (FAM) Market - Managing Assets on the Move, finds that the market earned revenues of over $305.0 million in 2008 and estimates this to reach $1.62 billion in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end-users, and other industry participants with an overview of the North America FAM market, then send an email to Christina Alfaro, Corporate Communications, at christina.alfaro[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
FAM provides greater visibility into field operations to identify and proactively address revenue generating opportunities that would otherwise be jeopardized by compromised package delivery, a lack of required parts to address a repair call, or an irresponsible fleet driver. Vertical-specific FAM business applications are gaining significance as they stave off commoditization and buttress revenue streams.
"The hard-dollar justification behind field asset management deployments is becoming more straightforward," explains Frost & Sullivan Senior Industry Analyst Jeanine Sterling. "Adoption of FAM offers the company numerous benefits, including prevention of theft, reduction of time required for service inventory counts, streamlined allocation and warehousing of service parts, elimination of costs associated with customer dispute resolution, and extension of asset lifecycles by proactively signaling the need for preventative maintenance."
However, FAM is an emerging solution and multiple adoption barriers exist. These include high upfront hardware prices, concerns about integration with the customer's existing back office systems, and reservations over the wireless carrier's role in promoting and providing these services.
"These challenges can become especially formidable when FAM vendors expand beyond initial Fortune 1000 targets and promote their wares to smaller, more price-sensitive local businesses," observes Sterling.
The price of initial hardware accessories, such as cellular modems, barcode scanners, and asset tags is perceived as prohibitive, especially for the small and mid-sized business (SMB) segment. FAM vendors must be geared towards eliminating the apprehensions of the end-user and highlighting the value of increased asset visibility. To ensure better business outcomes, vendors must be proactive and entice customers with smart pricing and packaging strategies to overcome reticence.
Nonetheless, advancements in technology are expected to break down the barriers preventing deep market penetration. While hardware manufacturers work on decreasing their prices and application developers create integration-friendly solutions, wireless carriers must actively research their subscriber base and better articulate their role in the FAM ecosystem. Carriers must also move beyond their existing consumer-centric mode and leverage data and location infrastructure to accommodate new services and capabilities in the enterprise sector.
North America Field Asset Management (FAM) Market - Managing Assets on the Move is part of the Mobile and Wireless Growth Partnership Service program, which also includes research in the following markets: Mobile Sales Force Automation, Mobile Resource Management, and Mobile Office. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan(frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.
North America Field Asset Management (FAM) Market - Managing Assets on the Move