Professional Services Automation Market 11.7% CAGR to 2022 led by North America The major vendors in the professional services automation market include Autotask Corporation (US), Changepoint Corporation (US), Financial Force (US), Microsoft (US), Atlassian (Australia), Connect Wise (US), Kimble Applications (UK), Mavenlink, Inc. (US), Oracle (US), SAP (Germany), Upland Software (US), Projector PSA (US), Project Open Business Solutions S.L (Spain), and Kaseya Limited (US).
North America is expected to hold the largest professional services automation market size during the forecast period. North America is the largest revenue contributor to the PSA market, as the region is an early adopter of cloud technology and has advanced IT infrastructure facilities as well. North America, especially the US and Canada, are expected to implement PSA solutions to simplify and automate business processes. Organizations in North America are dealing with a major concern of an aging workforce, which has been addressed through an effective implementation of PSA. Major growth drivers include increased cloud deployments and growing adoption of online service delivery.
Project management solution is expected to hold the major professional services automation market size during the forecast period. The project management solution enables clients to engage with project throughout its lifecycle. It manages every aspect of project from start to completion of a project including budgets, costing, approvals, scheduling, deliverable management, issue tracking, and revenue management. It facilitates organizations with a capability to monitor real-time status of a project. It also enables organizations to track which customer engagement is successful or at risk.
The information technology vertical is expected to hold the major professional services automation market size during the forecast period. IT enterprises are engaged in various activities such as software development, testing, on-site management, and client support. The IT vertical includes software vendors, system integrator, and IT service providers. IT service providers offer various IT services, such as data processing, hosting, IT consulting, and related services. The IT vertical is the largest revenue contributor to the global PSA market, owing to the evolution of
various platforms and mobile devices across all regions that trigger huge volumes of data generated by both internal and external sources.