Press release
Automation Revolution Fueling Growth In The Professional Service Automation Market: A Leading Driver Behind Professional Service Automation Market Expansion in 2025
Professional Service Automation
What Will the Professional Service Automation Industry Market Size Be by 2025?
There has been a significant growth in the professional service automation market size in the past few years. The market, which was valued at $1.52 billion in 2024, is projected to escalate to $1.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.4%. This growth during the historic era is due to factors such as the need for improved efficiency, transition to a service-centric economy, push towards automation, expansion of remote work dynamics, and managing complex projects.
What's the Long-Term Growth Forecast for the Professional Service Automation Market Size Through 2029?
The market size of professional service automation is predicted to experience a swift expansion in the coming years, with an expected value of $2.9 billion by 2029, escalating at a compound annual growth rate (CAGR) of 14.7%. This growth during the projected period can be associated with factors such as service lifecycle management, scalability and adaptability, dynamic resource allocation, customer-focused solutions, and coordination with collaboration tools. Some of the key trends during this predicted period include sustainability and ESG integration, synchronization with CRM and ERP systems, process automation, service lifecycle management, bespoke and modular solutions, and optimization for mobile platforms.
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What Are the Key Growth Drivers Fueling the Professional Service Automation Market Expansion?
The rise of automation across various sectors is playing a significant role in boosting the professional service automation market. By enhancing speed, precision, and productivity for numerous tasks previously carried out by humans, automation is making strides. Automation can be defined as the formulation and application of technology to monitor and manage the production and distribution of goods and services. Professional service automation amalgamates typically fragmented systems and tools for time tracking, project management, resource management, invoice processing, and business information into a unified service automation platform. The International Federation of Robotics, a Germany-based non-profit organization committed to advocating, reinforcing, and safeguarding the global robotics industry, reported in September 2024 that there was a 37% surge in robot installations in Canada in 2023, reaching 4,311 units. This expansion of automation across various sectors is driving the professional service automation market forward.
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What Are the Key Trends Driving Professional Service Automation Market Growth?
The rise of technology is a key trend in the market for professional service automation. Renowned market players are in the process of creating products that are technologically superior, having integration with cloud and artificial intelligence. The cloud operation is upheld on the service provider's premises, and companies have access and the liberty to make use of them anytime they deem fit. Merging artificial intelligence involves the use of computer science and large datasets to provide solutions to problems. Business processes are made efficient and error-free by using artificial intelligence and the cloud for automation. For instance, FinancialForce (which is now known as Certinia), a software firm based in the US, rolled out advanced automation and AI features for their Professional Services Automation (PSA) platform in April 2022, leading to an enhancement in its functionality and user-friendliness. The merging of artificial intelligence leads to better forecasting and allocation of resources. AI features aid in analyzing past data to predict the project requirements in the future and fine-tune management of resources.
How Is the Professional Service Automation Market Segmented?
The professional service automation market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Type: On-Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End-User: Banking, Financial Services, And Insurance (BFSI), Retail, Healthcare, Media And Entertainment, Education, Information Technology (IT) And Telecom, Government, Legal Services, Audit And Accountancy, Other End-Users
Subsegments:
1) By Solution: Project Management, Resource Management, Time And Expense Management, Billing And Invoicing, Reporting And Analytics
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
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Which Companies Are Leading the Charge in Professional Service Automation Market Innovation?
Major companies operating in the professional service automation market are Microsoft Corporation, Kimble Applications, SAP SE, Projector PSA, Changepoint Corporation, FinancialForce, Atlassian Corporation PLC., ConnectWise, Mavenlink Inc., Oracle Corporation, Upland Software, Planview Clarizen, Project Open Business Solutions S.L, Kaseya Limited, Big Time Software, Appirio Inc., Autotask Corporation, Bastian Solutions LLC, Clarizen Inc., Compuware Corporation, Deltek Inc., Dematic GmbH, HarmonyPSA Inc., Infor Inc., Intapp Time Inc., Kantata APS, NetSuite OpenAir Inc., Promys AG, Scoro AS, Smartsheet Inc., Tigerpaw Software Inc., VOGSY Inc., Workday Inc., Workfront Inc., WorkWave LLC, Zoho Corporation
Which Regions Are Leading the Global Professional Service Automation Market in Revenue?
North Americawas the largest region in the professional service automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the professional service automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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