The Business Research Company’s report on the Professional Service Automation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the professional service automation market in recent years?
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 September 2024, according to the International Federation of Robotics, a Germany-based non-profit organization to promote, strengthen, and protect the robotics industry worldwide, in 2023, robot installations in Canada rose by 37% to 4,311 units. Thus, automation across industries is propelling the professional service automation market.
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What is the projected market size of the professional service automation industry, and how is it expected to grow?
The professional service automation market size has grown rapidly in recent years. It will grow from $1.52 billion in 2024 to $1.67 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. 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 $2.9 billion in 2029 at a compound annual growth rate (CAGR) of 14.7%. 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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Who are the key players driving competition in the professional service automation market?
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
What key trends are expected to drive the professional cloud services market during the forecast period?
Technological advancement is a key trend in the professional service automation market. Major players are developing technologically advanced products with cloud and artificial intelligence integration. Cloud deployment is maintained on the service provider’s facilities, and the businesses have access to them and may utilize them as much as they want at any time. Artificial intelligence integrates computer science and substantial datasets to facilitate problem-solving. Artificial intelligence and the cloud are used to automate and make business processes efficient and error-free. For instance, in April 2022, FinancialForce (now Certinia), a US-based software company, introduced advanced automation and AI capabilities to its Professional Services Automation (PSA) platform, enhancing its functionality and user experience. The integration of artificial intelligence allows for improved forecasting and resource allocation. AI capabilities help analyze historical data to predict future project needs and optimize resource management.
Which key geographies are driving the growth of the professional service automation market?
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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What are the key segments driving growth in the professional service automation market?
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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How is the professional service automation market defined?
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.
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