The professional service automation (PSA) software market is estimated to
reach USD 14.39 billion by 2024, according to a new report by Grand View
Research, Inc.PSA software is used to standardize business processes and
provide reports, insights, and control for resources and projects. The value of
such systems is to enable critical information to be analyzed and shared across
organizations for more insightful and timely decision-making. Increasing
advancements in functionalities of the solution are anticipated to boost
industry growth over the next seven years.
Bundled Remote Monitoring & Management (RMM)/PSA is gaining
popularity among users.
 |
| Global PSA software market, by application, 2014 - 2024 (USD Million) |
Existing players are adding such solution to its
product portfolio either through in-house development or through acquisition of
the exiting company. For instance, Connect wise acquired Labtech in 2010 to
offer this bundled solution, similarly Kaseya has acquired Vorex in 2016 and
Auto task acquired CentraStage in 2014. The industry is expected to witness
tremendous growth owing to increasing demand in the marketing and communication
application segment. The market for PSA software is gaining traction in
consulting firms with the increasing requirement for resource management.
Increasing needs to improve operational efficiency among professional
service firms are expected to propel the market over the forecast period. The
companies have been focusing on optimally aligning resources while profitably
delivering projects on time. PSA tools offer benefits such as optimized staffing,
improved collaboration, and automated time & expense. Effective use of
professional services automation tools can help organizations improve
productivity, operational efficiency, financial margins, and billable
utilization. PSA software improves project management and resource management
by increasing efficiency through increased collaboration and personnel
utilization, better planning, and integrated knowledge management. The software
also provides standardized reports, which help management in making key
business decisions.
Small enterprises have been using spreadsheets for various tasks such as
resource and time management. However, as businesses grow, complexity will
increase and need for automating these tasks will also rise and the challenge of
maintaining business quality, throughput, and effectiveness will grow as well.
Small-sized businesses are untapped markets and increasing IT budgets of these
enterprises are expected to demand over the forecast period.
In depth research report on Professional
Service Automation Software Market
Further key findings from the report suggest:
·
Cloud
technology is becoming popular among cost-sensitive customers and small &
medium enterprises. Increasing ubiquitous computing owing to smart phone
penetration and better internet infrastructure is expected to drive the PSA
mobile application over the next seven years.
·
Support for a
variety of mobile platforms such as Android and iOS has become a basic
requirement of the software. Cloud-based solutions offer benefits such as
economies of scale, disaster recovery, effective monitoring of projects, and
reduced technology infrastructure cost. Increased concern for data privacy of
cloud-based solutions is anticipated to hinder its growth over the forecast
period.
·
PSA software
is popular in consulting firms, technology companies, and marketing &
communication firms. These solutions are also being adopted by legal and architectural
firms. Technology companies are the major application segments and held a
market share of over 40% in 2015.
·
Projector PSA,
ChangePoint, NetSuite OpenAir, Appirio, Inc., Microsoft Corporation,
FinancialForce.com, ConnectWise, and Tenrox are some of the major industry
players in this domain. Other key vendors include Compuware Corporation,
Autotask Corporation, Oracle, Panview, Clarizen, and Deltek, Inc. Netsuite Open
Air PSA software can either be deployed as a standalone system or can also be
integrated with existing enterprise solutions such as ERP and CRM.
Grand View Research has segmented the PSA software market on the basis of
application, deployment and region:
Application Outlook (Revenue, USD Million;
2014 - 2024)
·
Consulting
firm
·
Technology
companies
·
Marketing and
communication
·
Others
Deployment Outlook (Revenue, USD Million; 2014
- 2024)
·
On-premise
·
Cloud
Regional Outlook (Revenue, USD Million; 2014 -
2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East
& Africa (MEA)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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