As we start the second half of 2020, our latest Field Intelligence report points to a continued recovery across the industry.
Data from our network suggests an optimistic outlook for field services. Volume continues to improve, while various work types and industry sectors sharply rebound. However, as many states begin to pause or roll back reopenings, the coming weeks will highlight just how variable growth can be across states and types of work.
Volume approaches 2019 levels
Previous Field Intelligence reports have shown the field service industry steadily recovering. For the first time since February 2020, work order volume approached 2019 levels. For week 27 (the week of July 6), overall volume was just three percent lower than the same week in 2019.
Growth remained strong across a wide spectrum of businesses. In the past 12 weeks, work order volume has increased by 106 percent, reflecting a dramatic turn from the low point of the market. Generally, we see an “L-shaped” recovery taking place across the industry. However, several high performing companies are experiencing “V-shaped” improvements.