Allied Market Research

2024

Professional Service Automation (psa) Software Market

Professional Service Automation (PSA) Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Deployment Type, by Enterprise Size and by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032

IC : High Tech, Enterprise & Consumer IT

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Author's: | Onkar Sumant
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Professional services automation (PSA) is a software product designed to assist professionals, such as IT consultants, auditors, lawyers, and others, with resource management and project management for client projects. Core functions of PSA include automated time & billing, project management capabilities, invoice management, resource allocation, expense management, and others. It also offers powerful and consistent reports and dashboards, which provide management key information to make insightful decisions. It also offers benefits such as project effectiveness, improved customer satisfaction, reduced revenue leakage, improved forecasting capability, and others.

The global professional services automation (PSA) software market is driven by increase in demand due to availability of PSA solutions with an improved set of functionalities. Moreover, growth in need to improve operational efficiency among professional service firms is expected to propel the market growth. However, shortage of knowledgeable and experienced resources and robust market environments hinders this growth. In addition, owing to increase in complexity, need for automating these tasks is expected to rise, thus posing a challenge of maintaining throughput, business quality, and effectiveness. Furthermore, continuous rising popularity of PSA software due to its numerous benefits in terms of flexibility, reduced infrastructure development costs, disaster recovery, and increased collaboration present major opportunities for this market.

The global professional services automation (PSA) software market is segmented on the basis of deployment type and applications. Deployment types covered in this study include on-premise and cloud. On the basis of application, the market is categorized into consulting firms, marketing & communication, technology companies, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global professional services automation (PSA) software market include Microsoft Corporation, Projector PSA, Inc., NetSuite OpenAir, Oracle, Appirio, Changepoint Corporation, ConnectWise, Inc., FinancialForce.com, Tenrox, and Autotask Corporation.

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the professional services automation (PSA) software and current & future trends to elucidate the imminent investment pockets.
  • Information about the key drivers, restraints, and opportunities and their impact analysis on the market size are provided.
  • Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the market is provided to determine the market potential.

Professional Service Automation (PSA) Software Market Report Highlights

Aspects Details
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By Type
  • Project Management
  • Project Accounting
  • Time and Expense Management
  • Project Analytics
  • Billing and Invoice Management
  • Resource Management
  • Contract Management
  • Opportunity and Lead Management
  • Others
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By Deployment Type
  • Cloud
  • On-Premise
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By Enterprise Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)
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By Industry Vertical
  • BFSI
  • Agriculture
  • Information Technology
  • Telecom
  • Legal Services
  • Healthcare and Life Sciences
  • Audit and Accountancy
  • Government
  • Media and Entertainment
  • Scientific Research and Development Services
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Mavenlink, Inc., SAP SE, Changepoint Corporation, Financialforce, Autotask Corporation, Atlassian Corporation Plc, Microsoft Corporation, Kimble Applications, Oracle Corpopration, Connectwise

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Professional Service Automation (PSA) Software Market

Global Opportunity Analysis and Industry Forecast, 2023-2032