With less than two months remaining in 2024, the field service industry shows signs of recovery after a challenging first half. While the sector weathered headwinds during H1, recent metrics paint an encouraging picture, highlighted by a 67% surge in technician job postings and expanding project pipelines for 2025.

Drawing from conversations with our network of field service leaders, we’ve identified these key trends shaping the industry.

First half challenges 

Many companies experienced weaker-than-expected sales performance in the first half of 2024. One field service executive said they were “personally just thankful that our year didn’t end in July.” However, momentum has shifted positively in recent months, with numerous organizations reporting upticks in project volume.

2025 project pipeline building 

Participants noted that some projects lined up for 2024 have been delayed and are now expected to ramp up in 2025. Specifically, industries like kiosks and point-of-sale deployments experienced delays, with expectations for a stronger Q4 and next year. According to industry research, the global kiosk market is projected to grow from $32 billion in 2024 to $57 billion by 2029, supporting the industry’s anticipation of increased deployments.

As one executive noted, “We’re seeing it won’t be a huge upward trend in the second half of 2024, but rather products getting lined up for 2025 that we’ve been waiting on for months.”

Macroeconomic impacts

The projected slowdown partially stems from economic uncertainty, with some companies adjusting their expectations based on interest rates, funding availability, and general macroeconomic conditions. 

According to a field service executive, project flow was “based on how easily money was flowing and if loans were given out. So it was more based on Wall Street than retail requirements.”

Shifting client priorities 

Some leaders noted losing projects due to clients opting for cheaper in-house solutions, reflecting tighter budgets and cost-saving measures. One field service leader expressed surprise at seeing a “large retailer not spending the money just to get things done right.”

Strategic adaptations 

While sales outlooks have improved, project win rates have not increased as dramatically. Some companies are refining their bidding strategies, focusing on selective, relationship-based proposals to increase margins and win rates. 

According to one field service leader, we are “drilling down where our niche is and that value-add that we bring,” prioritizing quality partnerships over volume.

Want to learn more about these market trends and discuss strategies for navigating the changing landscape? Connect with our team to explore how these insights could impact your business planning for 2025.