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Professional Service Automation Market: 

Professional service automation (PSA) systems are software products designed to help professional services companies streamline a number of operations, optimize efficiency, and attain higher productivity and profitability. These systems are complete business solutions and include a variety of capabilities, including project management, billing, invoice management, time tracking, expense management, and resource allocation.

A variety of PSA systems are commonly used by many organizations across a number of industries. The increased availability of PSA solutions with an improved set of functionalities is leading to heightened demand for these products worldwide. For the streamlining of operations, many small-scale companies still rely on spreadsheets and other in-house tools. However, the vast benefits gained by companies that have adopted PSA solutions, in terms of improved time-to-market, reduced attrition rates of products and services, and improved profitability, testify that the assimilation of PSA solutions in business practices can prove mission critical, and that without them, the growth prospects of a company can be greatly affected.

The report on the professional service automation market gives a thorough overview of its current state; the major drivers, challenges, and trends that are impacting the market’s development prospects; and a detailed insight into its competitive scenario. The data in the report has been gathered from a number of sources and with the help of numerous primary as well as secondary research methodologies.

Professional Service Automation Market: Overview

Professional services companies are currently faced with challenges such as robust market environments, shortage of knowledgeable and experienced resources, spin-offs from mergers and acquisitions, and an increasingly sophisticated clientele. At the same time, decision makers and top executives are becoming increasingly aware of the benefits of PSA solutions and their role in making companies more competitive and profitable. These are the major factors driving the global professional service automation market.

The key components of a typical PSA system include resource planning and forecasting, project management, time and billing management, knowledge management, communication management, opportunity and lead tracking, employee time and expense entry and processing, financial accounting, human resource management, and proposal automation.

Some of the major end users of the global professional service automation market are IT service companies, design and planning companies, architecture and engineering firms, accounting companies, management consulting firms, research organizations, and government contractors.

Professional Service Automation Market: Key Trends and Opportunities

Of the two major deployment methods of PSA solutions-cloud and on-premise-PSA products and services hosted on cloud platforms are gaining popularity, especially among small- and medium-sized companies. The numerous benefits of cloud hosting in terms of flexibility, disaster recovery, increased collaboration, and reduced infrastructure development costs are some of the chief factors behind the rising popularity of the cloud hosting module. Additionally, the rising inclusion of smartphones, tablets, and other devices into the internal networks of companies is leading to the development of the PSA mobile application segment.

Professional Service Automation Market: Region-wise Outlook

The market for professional automation is projected to earn a major share in revenues from developed regions such as Europe and North America over the report’s forecast period. Demand for PSA solutions in Asia Pacific is also expected to rise at a steady pace over the report’s forecast period owing to the rising adoption of PSA by small- and medium-sized companies in the region.

The global market for PSA solutions is highly fragmented and features several technology giants who have entered the market with products featuring competitive and innovative functionalities. Some of the major vendors operating in the global PSA market are Microsoft Corporation, NetSuite OpenAir, Oracle, Autotask Corporation, FinancialForce PSA, Appirio, Inc., Deltek, Harmany PSA, Autotask Corporation, and Projector PSA.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America

This report provides comprehensive analysis of

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Reasons for Buying this Report

  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Professional Service Automation Market

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