The global professional service automation software market size is estimated to reach $16,015.0 Million by 2025, at a CAGR of 11.7% according to a new report by Grand View Research, Inc. PSA software is used for standardizing business processes and providing 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. Rapid advancements in functionalities of the solution are anticipated to boost growth.
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 and 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 make key business decisions.
Small
enterprises have been using spreadsheets for various tasks such as resource and
time management. However, as businesses grow, complexity, need for automation,
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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/professional-services-automation-software-market
Further key
findings from the report suggest:
- Cloud
technology is becoming popular among cost-sensitive customers and small
and medium enterprises. Increasing ubiquitous computing owing to
smartphone penetration and better internet infrastructure is expected to
drive the PSA mobile application over the next six years.Support for a
variety of mobile platforms such as Android and iOS has become a basic
requirement of the software
- Technology
companies held the largest market share of over 46% in 2018. However,
marketing and communication firms segment is anticipated expand at the
highest CAGR of 15.5% from 2019 to 2025
- North America
and Europe are expected to remain key regions in the global Professional
Service Automation (PSA) software market over the forecast period
- Projector
PSA; ChangePoint; NetSuite OpenAir;Appirio, Inc.;Microsoft Corporation;
FinancialForce.com; ConnectWise; and Tenrox are some of the major players
- Other key
vendors include Compuware Corporation;Autotask Corporation; Panview;
Clarizen; Deltek, Inc.; and Oracle
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Grand View Research has
segmented the global PSA software market on the basis of application,
deployment, and region:
Professional
Service Automation (PSA) Software Application Outlook (Revenue, USD Million,
2014 - 2025)
- Consulting Firms
- Technology Companies
- Marketing and Communication Firms
- Others
Professional
Service Automation (PSA) Software Deployment Outlook (Revenue, USD Million,
2014 - 2025)
- Cloud
- On-premise
Professional
Service Automation (PSA) Software Regional Outlook (Revenue, USD Million, 2014
- 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- MEA
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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