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Global Professional Service Automation Software Market Size: By Solution: Project Management, Project Accounting, Project Analytics, Time And Expense Management, Billing And Invoice Management, Others; By Deployment: On-Premises, Cloud; By Enterprise Size; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Professional Service Automation Software Market Outlook
The global professional service automation software market size reached a value of more than USD 1085.42 million in 2023. During the forecast period of 2024-2032, the market is expected to grow at a CAGR of 11.50%.
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Key Trends in the Market
A software-based solution called Professional Service Automation (PSA) is designed to assist businesses manage their operations more effectively, hence boosting productivity and profitability. These systems include options for resource allocation, time management, project management, and invoicing administration. Professional service automation software can establish a standardised procedure for organising, supervising, and evaluating each project's performance according to where it is in its lifetime.
- The professional service automation software market is primarily driven by the rising demand for automation in corporate processes and the need to increase efficiency while lowering costs. Professional service automation has accelerated due to the growing adoption of big data and analytics technologies and SaaS.
- The overall profitability that PSA offers to an organisation has led to an increase in the number of businesses adopting it. In order to improve decision-making, businesses must be able to make sense of the vast amounts of data that are generated.
- It is anticipated that increased need for greater mobility among service consultants and expanding automation usage will accelerate the market expansion. Additionally, it is predicted that during the projection period, evolving enterprise business models and higher customer satisfaction levels will have an impact on the adoption of professional service automation (PSA) solutions.
Global Professional Service Automation Software Market Analysis
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Based on solution, the market is segmented into project management, project accounting, project analytics, time and expense management, billing and invoice management, among others. The market, on the basis of deployment, can be divided into on-premises and cloud. On the basis of enterprise size, the market is divided into large enterprises, small and medium-sized enterprises (SMEs).
The end-uses of the market are BFSI, telecom, architecture and construction firms, healthcare and life sciences, media and entertainment, and government, among others. The regional markets for professional service automation software can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global professional service automation software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Datto, Inc.
- Planview, Inc.
- ConnectWise, LLC
- Projector PSA, Inc.
- Kimble Applications Ltd.
- Others
Market Share by Deployment
The expansion of cloud services, along with their ease and pay-as-you-go structure, will be advantageous for the professional service automation software market. Over the forecast period, it is projected that growing concerns about cloud-based solutions' data privacy will restrain their expansion. However, cloud-based solutions provide more advantages, thus this segment will continue to maintain its dominance during the forecast period. Due to its exceptional deployment flexibility, scalability, disaster recovery, efficient project monitoring, lower costs for the technology infrastructure, improved collaboration, cost-efficiency advantages, and global availability, cloud-based deployment options are anticipated to have a considerable increase in the accounts receivable automation market over the forecast period.
Market Share by Region
The professional service automation software market is anticipated to be dominated by North America. The region's expansion can be attributed to the fast-paced growth of the service sector and rapid technology advancements like cloud computing and augmented reality (AR). Additionally, businesses in the region are seeking to implement cutting-edge growth strategies to increase their global footprint.
Additionally, the United States and Canada, the two advanced economies in the region, have built IT infrastructure facilities and are investing in new technology. Many PSA software providers, like Salesforce.com, Inc., Microsoft Corporation, SolarWinds, and Oracle Corporation, are based in the United States, which is encouraging for the development of the regional market.
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Competitive Landscape
Datto, Inc. the world's largest provider of cloud-based software and security solutions, created specifically for managed service providers (MSPs) is headquartered in the United States. Datto was founded in 2007 and offers solutions through an integrated platform that enable its worldwide ecosystem of MSP partners to service more than one million organisations globally.
Planview, Inc., a company with its headquarters in the United States, offers software for resource-based project management. Organisations can use the website to manage their tasks and projects thanks to the company’s integrated project and workforce management software. Planview software offers a single location to track time, budgets, and expenses for your projects.
ConnectWise, LLC, since its founding in 1982, has developed into a powerful software platform designed for technology solutions providers (TSPs) to manage every aspect of their as-a-service operations. ConnectWise has created a platform for The IT Nation with products that help with business management, quote and proposal automation, remote monitoring and management, cybersecurity risk assessments, remote control and access, and integrations with hundreds of key vendors, as well as the largest and most active community in the sector.
Other market players include Projector PSA, Inc. and Kimble Applications Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Solution |
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| Breakup by Deployment |
|
| Breakup by Enterprise Size |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Professional Service Automation Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Professional Service Automation Software Historical Market (2018-2023)
8.3 Global Professional Service Automation Software Market Forecast (2024-2032)
8.4 Global Professional Service Automation Software Market by Solution
8.4.1 Project Management
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Project Accounting
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Project Analytics
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Time And Expense Management
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Billing And Invoice Management
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Professional Service Automation Software Market by Deployment
8.5.1 On-Premises
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Professional Service Automation Software Market by Enterprise Size
8.6.1 Large Enterprises
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Small And Medium-Sized Enterprises (SMEs)
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Professional Service Automation Software Market by End Use
8.7.1 BFSI
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Telecom
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Architecture and Construction Firms
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Healthcare And Life Sciences
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Media And Entertainment
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
8.7.6 Government
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2023)
8.7.6.3 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Professional Service Automation Software Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2023)
8.8.4.3 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2023)
8.8.5.3 Forecast Trend (2024-2032)
9 North America Professional Service Automation Software Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Professional Service Automation Software Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Professional Service Automation Software Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Professional Service Automation Software Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Professional Service Automation Software Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Datto, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Planview, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ConnectWise, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Projector PSA, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Kimble Applications Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Professional Service Automation Software Market: Key Industry Highlights, 2018 and 2032
2. Global Professional Service Automation Software Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Professional Service Automation Software Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Professional Service Automation Software Historical Market: Breakup by Deployment (USD Million), 2018-2023
5. Global Professional Service Automation Software Market Forecast: Breakup by Deployment (USD Million), 2024-2032
6. Global Professional Service Automation Software Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
7. Global Professional Service Automation Software Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
8. Global Professional Service Automation Software Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Global Professional Service Automation Software Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Global Professional Service Automation Software Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Professional Service Automation Software Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Professional Service Automation Software Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Professional Service Automation Software Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Professional Service Automation Software Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Professional Service Automation Software Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Professional Service Automation Software Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Professional Service Automation Software Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Professional Service Automation Software Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Professional Service Automation Software Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Professional Service Automation Software Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Professional Service Automation Software Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Professional Service Automation Software Market Structure
Key Questions Answered in the Report
In 2023, the global market for professional service automation software attained a value of more than USD 1085.42 million.
The market is projected to grow at a CAGR of 11.50% during the forecast period of 2024-2032.
The major drivers of the professional service automation software market include the rising need to improve efficiency, growing adoption of SaaS technology, increase in the number of organisations adopting PSA, expanding automation adoption, better internet infrastructure, and rising need for enhanced mobility among service consultants.
The growing demand for automation in business processes and increasing adoption of analytics and big data technologies are the key trends propelling the growth of the market.
The major regions in the professional service automation software market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The major players in the market are Datto, Inc., Planview, Inc., ConnectWise, LLC, Projector PSA, Inc., and Kimble Applications Ltd., among others.
One of the primary distinctions between PSA and ERP traditionally has been that the latter was designed to handle the management of tangible assets, including as goods, inventories, and products. PSA, on the other hand, has a stronger emphasis on the management of intangible assets and the service sector, including the industries of consultants and accountants.
Professional services automation software is frequently employed by consulting companies and managed service providers (MSPs) in the IT sector to help manage their daily operations.
Professional services organisations can manage the primary revenue-generating tasks of their project delivery teams with the aid of PSA software systems. This can include everything from assuring efficient resource use, successful project completion, to accurate revenue forecasting techniques.
In SaaS, professional services are often characterised as short- to mid-term engagements that are focused on accomplishing, specified results.
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