Professional Service Automation Market Size Comprehensive Analysis | Appirio, Microsoft, Deltek, Oracle
The global professional service automation market generated $7,325 million in 2017 and is anticipated to grow at a CAGR of 9.6% during the forecast period.
Professional services automation is a software solution designed to assist companies operating in IT, auditing, law and others in managing resources and projects. The fundamental functions of PSA include project analysis, time management, billing management, resource allocation, and others. It also assists in providing key inputs in performance measures to enable the user to make efficient business decisions. Implementation of PSA enables users to establish a centralized business control, resulting in streamlined control of operations. It also improves forecasting abilities, offer enhanced customer experience, and improve project effectiveness.
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The demand for professional service automation has increased owing to rising need for automation of business processes, and growing demand for enhanced operational efficiency. The rising need for scalable and flexible solutions to increase overall business efficiency coupled with increasing adoption of cloud computing has resulted in the professional service automation market growth. The growing adoption of big data and analytics has increased the demand for professional service automation across the globe. Growing demand from emerging economies, rising adoption by small and medium businesses, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Professional Service Automation Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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North America generated the highest revenue in the market in 2017 owing to the established telecommunication industry, and increasing automation of business processes in the region. The increasing penetration of mobile devices, along with growing adoption of cloud computing further boost the professional service automation market growth in the region.
Competitive Landscape and Key Vendors
The global professional service automation market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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