Field Service Outlook for Southeast Asia
- Customer Insights
- Field Service Insights
Field service providers in the Associated Southeast Asian Nations (ASEAN) have an optimistic outlook ahead of them. As this part of the world becomes ever more important and the countries of Southeast Asia continue developing rapidly, it will take massive numbers of specialized technicians to install, replace, service, and fix everything that development includes. The future of Southeast Asia looks brighter than ever, and many factors play into that success. That said, arguably no group makes that success more possible than field service providers.
Growing Industries Need More Field Service
Forecasts anticipate growth across many ASEAN sectors as this region becomes the world’s fourth largest market by 2030. A few industries anticipate particularly robust growth, and with that will come a brisk acceleration and expansion in demand for field service. Here are some highlights:
- Manufacturing – Manufacturing exports have increased from Southeast Asia faster than the rest of the world, and estimates suggest that output could increase by an additional $600 billion by 2030. Production has been flocking to the region as the situation in China grows more uncertain. Setting up new production facilities while helping existing ones expand or update will require the work of field service providers across the region.
- Energy – Energy consumption in Southeast Asia has consistently increased by 3% annually for two decades and will continue to through 2030. As total demand increases, so does the share of energy created from sustainable sources, which currently stands at 14% of the energy mix, as most ASEAN nations have committed to net-zero carbon policies. Expanding energy grids and bringing new energy sources online will keep an army of technicians busy for years to come.
- Agriculture – The agri-food industry generated over $800 billion for five ASEAN countries collectively, which was an impressive 21% higher in real terms than in 2015. Agriculture will continue growing, but experts suggest it will need to innovate and improve efficiency in response to challenging economic and environmental conditions. That creates abundant opportunities for field service providers to install and service new equipment.
- Tourism – After cratering during Covid, travel to Southeast Asia bounced back faster than anywhere else on earth, and it’s expected to grow far past its previous peak. One study suggests that tourism will add 34% more to collective GDP by 2025 than it did pre-pandemic. Countless field service providers contribute to what makes Southeast Asian travel so appealing. They will play an important role in helping not just tourist destinations but the entire region handle waves of new visitors.
- Sustainability – Cost savings that emerge from sustainability initiatives combined with revenues from “green” products and services could bring $1 trillion to Southeast Asia by 2030. Sustainability and economic opportunity are closely linked in this region. As both the public and private sector strive to lower their carbon footprint, improve water management, and become more sustainable in every way possible, field service providers will make that shift possible and keep tomorrow’s high-efficiency systems up and running.
Adapting to Meet Increased Demand
It’s important not to confuse increasing demand and positive growth with automatic success. With greater demand comes higher expectations for quality, convenience, sustainability, and a host of other factors. Likewise, turning greater demand into greater profitability means operating at higher speed and scale while preserving or growing margins. This climate makes it easy for providers to fall victim to their own success or, alternatively, grow stale as their more agile or innovative competitors seize on emerging opportunities.
That helps to explain another statistic: The market for field service management (FSM) solutions in Asia Pacific is projected to more than double in size between 2021 and 2026, growing from just over $1 billion to well over $2.5 billion. Spiking demand speaks to growth in development throughout Southeast Asia and the higher need for field service that follows. But it also speaks to the imperative of change. Whether the future looks promising or turbulent, field service providers see the need to do things differently, specifically by adopting software and other strategies to elevate field service management.
Next Service In Southeast Asia
The Next Service FSM software is a strong choice for field service providers in Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand or beyond. Our accessible yet powerful platform offers all the features you need in a format that’s easy for users to learn and use to the fullest. Next Service also runs on-platform with NetSuite, sharing the same databases and infrastructure, making our platform even more accessible and capable. For providers eager to see the largest ROI from FSM software and make change feel as organic as possible, no FSM solution rivals Next Service
We have an expanding presence in Southeast Asia ready to fully support Next Service users in their success. See what service delivery looks like run on an integrated platform and mobile app that work in perfect sync with NetSuite – BOOK A DEMO TODAY.