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Professional Services Automation Market growth outlook with industry reviews

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Ashish Verma
Professional Services Automation Market growth outlook with industry reviews

Professional Services Automation (PSA) is adopted by companies across the globe, due to the growing need for scalable and flexible PSA solutions and standardizing the PSA processes. Hence, PSA providers, with advancements in SaaS Technology, are enhancing their solutions to boost their revenue growth. Strategic partnership is an important strategy adopted by the key market players to develop new services and gain traction in the PSA market. MarketsandMarkets expects the PSA market to grow from USD 716.5 Million in 2017 to USD 1,244.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period

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The audit and accountancy vertical is expected to grow at a higher CAGR during the forecast period.

The vertical comprises organizations which are primarily involved in offering various services including audit, accountancy, designing accounting systems, tax returns, developing budgets, bookkeeping, payroll processing, and billing. Management of finances efficiently is very crucial for any organization to run business successfully. Professional Services Automation solutions facilitate audit and accountancy agencies, firms, accountants, and auditors to ensure consistent and quality services delivered to client in order to remain competitive in the global market. Professional Services Automation solutions facilitate organizations to focus on financial success and stability.

The large enterprises segment is expected to gain a larger market share during the forecast period.

Organizations with more than 1,000 employees are categorized as large enterprises. Such enterprises have a huge corporate network and many revenue streams. Large enterprises have their customers across various regions and possess high market shares, technical expertise, and effective business strategies. However, large enterprises have to face many challenges pertaining to economies of scale, region, language, and accounting challenges. Professional Services Automation solutions offer a competitive edge to large enterprises in the global market. They prefer implementing Professional Services Automation solutions that can assist them in maximizing resource utilization, thereby improving service delivery in a cost-efficient manner.

The major vendors in the Professional Services Automation market include Autotask Corporation (US), Changepoint Corporation (US), FinancialForce (US), Microsoft (US), Atlassian (Australia), ConnectWise (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).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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