San Francisco, 1 April 2019: The Report Professional Service Automation (PSA) Software Market Size & Analysis By Application
(Consulting Firms, Technological Companies, Marketing And Communication,
Others), By Deployment (On-Premise, Cloud), By Region, And Segment Forecasts,
2018 - 2024
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. 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.
Access Research Report of Professional Service Automation
Software Market @ http://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 & 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.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/digital-media
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
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa (MEA)
Access Press Release of
Professional Service Automation Software Market@ https://www.grandviewresearch.com/press-release/global-psa-software-market
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 Information: www.grandviewresearch.com
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