Professional Services Automation Software Market Size & Share Report, Growth, Trends, 2032

Professional Services Automation Software Market Insights

According to Zion Market Research, the global Professional Services Automation Software Market was worth USD 12.91 Billion in 2023. The market is forecast to reach USD 35.79 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Professional Services Automation Software Market industry over the next decade.

The report analyzes and forecasts the professional services automation software market on the basis of solution, service, deployment type, vertical, and region. The study shows past data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The assessment of market dynamics gives a brief insight into the drivers and restraints for the professional services automation software market along with the impact they have on the demand over the forecast period. Furthermore, the report includes the study of opportunities available in the professional services automation software market on a regional level.

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The report gives a transparent view of the professional services automation software market. We have included a detailed competitive scenario and portfolio of prominent vendors operating in the global professional services automation software market. To understand the competitive landscape of professional services automation software market, an analysis of Porter’s Five Forces model for the market has also been included. The report offer market attractiveness analysis, wherein all the segments are benchmarked based on their general attractiveness, market size, and growth rate.

Professional services automation software is designed to standardize business processes, deliver insights, reports, and control resources and projects.

The global professional services automation software market is driven by the growing need for solutions with an improved set of functionalities. Moreover, the rising demand to improve operational efficiency by various firms is estimated to boost this market’s growth. For instance, a recent survey conducted by Service Performance Insight (SPI) Research showed certain improvements with increased revenue and low cost in Key Performance Indicators (KPI). This includes lower revenue leakage and project cancellation rates, improved project margins, and under budget project delivery rates.

The survey also included certain other remarkable improvements, such as faster staffing, invoicing workflows, and better resource utilization. These factors are anticipated to contribute significantly toward the professional services automation software market in the upcoming years. However, tough and competitive environment and lack of skilled professionals and experienced human resources might negatively impact this market. Nevertheless, the rapid rise in the popularity of professional service automation software is anticipated to create major growth avenues for the players operating in the professional services automation software market globally during the estimated timeframe.

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Global Professional Services Automation Software Market: Segmentation

The study provides a crucial view of the professional services automation software market by segmenting the market based on solution, service, deployment type, vertical, and region. All the segments of professional services automation software market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By solution, the market is segmented into analytics, billing and invoice management, contract management, project accounting and management, timesheet and expense management, and others (resource management, opportunity management, contract management, and social and knowledge management).

By service, the market is classified into consulting, integration and implementation, and training and support. The deployment type is divided into on-premises and cloud.

The vertical segment comprises audit and accountancy, architecture, engineering and construction, banking, financial services & insurance (BFSI), government, healthcare and life sciences, information technology (IT), legal services, media and entertainment, and scientific research and development services.

The regional segment includes North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, and Rest of Asia Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), and the Middle East and Africa (Saudi Arabia, UAE, South Africa, and Rest of the Middle East and Africa).

Professional Services Automation Software Market: Regional Analysis

Regionally, North America is expected to hold a substantial share in the professional services automation software market globally owing to the presence of renowned market players in the region. The Asia Pacific region is anticipated to depict the highest rate of growth over the forecast period, due to the growing inclination of professional service automation tools among the small- and medium-sized enterprises and the prominence of Artificial Intelligence (AI) in the region.

Professional Services Automation Software Market: Report Scope

Some prominent players of the professional services automation software market include Appirio, Inc., Autotask Corporation, ChangePoint Corporation, Clarizen, ConnectWise Inc., Compuware Corporation, Deltek, Inc., FinancialForce.com, Harmony PSA, Kimble Apps, Microsoft Corporation, NetSuite OpenAir, Oracle, Planview, Promys, Inc., Projector PSA, and Tenrox, among others.

This report segments the professional services automation software market into:

Global Professional Services Automation Software Market: By Solution

• Analytics
• Billing and Invoice Management
• Contract Management
• Project Accounting and Management
• Timesheet and Expense Management
• Others (Resource Management, Opportunity Management, Contract Management, and Social and Knowledge Management)
• Global Professional Services Automation Software Market: By Service
• Consulting
• Integration and Implementation
• Training and Support

Global Professional Services Automation Software Market: By Deployment Type

• On-Premises
• Cloud

Global Professional Services Automation Software Market: By Vertical

• Audit and Accountancy
• Architecture, Engineering, and Construction
• Banking, Financial Services, and Insurance (BFSI)
• Government
• Healthcare and Life sciences
• Information Technology (IT)
• Legal Services
• Media and Entertainment
• Scientific Research and Development Services

Global Professional Services Automation Software Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa