Global Professional Service Automation Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Professional Service Automation Software Market Overview:

The global professional service automation software market was valued at US$ X billion in 2016, and is expected to reach US$ XX.X billion at a high double-digit CAGR of XX% over the forecast period.

Professional service automation (PSA) is software designed to assist professionals, such as lawyers, auditors, and IT consultants, with project management and resource management for client projects. Main functions of PSA include project management and documentation, time recording, billing, reporting, and labour utilization. PSA software suites allow user to coordinate industry-proper measurements so as to better understand operations and, thus, enhance productivity and benefits.

Low cost and improved resource productivity are major factors driving growth of the global professional service automation software market. Also, increasing use of smartphones and tablets are some factors expected to drive growth of the global professional service automation software market during forecast period.

However, shortages of knowledgeable and experienced resources are key factors hampering growth of the global professional service automation software market. In addition, spin-offs from mergers and acquisitions and an increasingly sophisticated clientele are some other factors expected to restrain growth of the global professional service automation software market during forecast period.

North America and Europe holds major market share in the global professional service automation software market. This is attributed to increasing adoption of PSA by small and medium sized companies in the region. The Asia Pacific market is still in its nascent stage; however, with a growing approval rate, scope for the simulation and analysis software market in the emerging countries are expected to expand during the forecast period.

Global Professional Service Automation Software Market Segmentation:

Global professional service automation software market segmentation by application:

• Consulting firm
• Technology companies
• Marketing and communication
• Others

Global professional service automation software market segmentation by deployment method:

• On-premise
• Cloud

Global professional service automation software market segmentation by region:

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