Published Date: 21-Feb-2023
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According to a new report, published by KBV research, The Global Professional Services Automation Market size is expected to reach $20.8 billion by 2028, rising at a market growth of 11.9% CAGR during the forecast period.
The Marketing & Communication Firms segment is showcasing a CAGR of 11.6% during (2022 - 2028). It is projected that developing new PSA innovations by developers of PSA solutions for various communications and marketing applications would propel the segment's growth during the forecast period. For instance, Upland Software unveiled the Upland Professional Services Automation solution with Upland WorkCenter in 2019 to give key performance indicators (KPIs) data on a single unified dashboard.
The On-premise segment is leading the Global Professional Services Automation Software Market by Deployment in 2021 thereby, achieving a market value of $10.8 billion by 2028. The segment is growing because on-premise PSA solutions provide strong data protection & privacy and are less susceptible to online attacks. Additionally, due to their local data storage system, on-premise PSA solutions can carry out their tasks and offer secure data accessibility even if the internet connection is down. Market participants attend a variety of exhibits to promote their on-premise PSA solutions to strengthen their brand recognition.
The Small & Medium Enterprise segment has shown the growth rate of 13% during (2022 - 2028). Due to the various price options provided by providers of professional services automation software and the improvement of their company operations to compete with larger companies, the demand for PSA software is projected to grow. Furthermore, incorporating professional services automation solutions in SMEs helps businesses increase staff productivity, shorten the time it takes to sell products and services, and improve the customer experience.
The Project Management segment acquired maximum revenue share in the Global Professional Services Automation Software Market by Solutions in 2021 thereby, achieving a market value of $5.9 billion by 2028. Due to its many advantages, including lower overhead costs, quicker completion, and effective team management, professional services automation software is increasingly used in project management solutions. To assist clients in effective project management, industry participants are releasing their PSA software solutions.
The North America market dominated the Global Professional Services Automation Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8.1 billion by 2028. The Europe market is exhibiting a CAGR of 11.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 12.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/professional-services-automation-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of BMC Software, Inc. (KKR & Co., Inc.), Deltek, Inc. (Roper Technologies, Inc.), Microsoft Corporation, Oracle Corporation, Atlassian Corporation PLC, SAP SE, Projector PSA, Inc. (BigTime Software, Inc.), Planview, Inc. (Changepoint), Datto, Inc. (Autotask) (Kaseya Limited), and Upland Software, Inc. (Tenrox).
By Enterprise Size
Unique Offerings from KBV Research
North America Professional Services Automation Software Market size & Opportunities 2022-2028
Europe Professional Services Automation Software Market & Growth Forecast 2022-2028
Asia Pacific Professional Services Automation Software Market Share & Industry Outlook to 2028
LAMEA Professional Services Automation Software Market Growth, Trends & Forecasts 2022-2028