Overview and Scope
Professional service automation is a class of software program suite that gives a service company the capability it needs to control its primary business operations. It includes conventional PSOs, embedded services organizations, managed service providers, and so on.
Sizing and Forecast
The professional service automation market size has grown rapidly in recent years. It will grow from $1.39 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to demand for efficiency, shift to service-based economy, demand for automation, remote work trends, project complexity management.
The professional service automation market size is expected to see rapid growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to service lifecycle management, scalability and adaptability, agile resource allocation, customer-centric solutions, integration with collaboration tools. Major trends in the forecast period include sustainability and esg integration, integration with crm and erp systems, workflow automation, service lifecycle management, customizable and modular solutions, mobile optimization..
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Segmentation & Regional Insights
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
North America was the largest region in the professional service automation market in 2023. 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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Major Driver Impacting Market Growth
Growing automation across industries is significantly contributing to the growth of the professional service automation market. Automation increases the speed, accuracy, and efficiency of numerous jobs that people previously carried out. Automation is the development and use of technology to track and manage the manufacturing and delivery of goods and services. Professional service automation creates a single service automation platform out of the frequently disjointed systems and tools for time tracking, project management, resource management, invoice processing, and business information. For instance, in April 2021, according to a report by Gartner, a management consultancy firm, hyper automation-enabling technologies increased from $481,635 million in 2020 to $596,616 million in 2022. Hyper automation is expanding business process automation through robotic process automation, machine learning, and artificial intelligence (AI). Thus, automation across industries is propelling the professional service automation market.
Key Industry Players
Major companies operating in the professional service automation market report 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
The professional service automation market report table of contents includes:
1. Executive Summary
2. Professional Service Automation Market Characteristics
3. Professional Service Automation Market Trends And Strategies
4. Professional Service Automation Market – Macro Economic Scenario
5. Global Professional Service Automation Market Size and Growth
…..
31. Global Professional Service Automation Market Competitive Benchmarking
32. Global Professional Service Automation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Professional Service Automation Market
34. Professional Service Automation Market Future Outlook and Potential Analysis
35. Appendix
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