5 Key Field Service Trends To Watch In 2024

By Wael Mohammed, Executive Vice President Of Strategy, Field Nation

Looking forward to 2024, economic circles are cautiously optimistic, and the phrase "soft landing" is frequently used. Indicators suggest growth is still possible, offering hope and challenging earlier predictions of a downturn. Last summer defied economists' projections and boosted confidence. GDP exceeded expectations, prompting revised forecasts from the International Monetary Fund. Inflation and consumer spending improved, while the labor market compensated modestly. Demand is growing, even though consumers remain wary of inflation. Field Nation reports a substantial increase in work orders for various projects, benefiting numerous industries.

Considering these encouraging economic indicators, a more optimistic financial outlook for 2024 emerges compared to earlier predictions by economists. With this backdrop, attention naturally turns to the question: Where should field service leaders focus their efforts to maximize opportunities in the coming year? Explore five key trends that field service providers should closely monitor in 2024 to successfully navigate the evolving landscape.