According to the Regional Research Reports, the global professional services automation software market size was valued at a million USD in 2022 and is estimated to reach over multi-million USD by 2033 at a CAGR of 13.3 % over the forecast period (2023-2033).
Professional Services Automation Software Market Definition
Professional services automation (PSA) software helps companies in professional services manage most or all back-office and front-office activities. PSA systems are used to track operations and related costs, as well as the revenues they generate. These products are used by consultants, lawyers, marketing account managers, and other professional services industry roles that conduct business on a client-project level. PSA software delivers insight into the business processes of project and portfolio management to improve the efficiency, productivity, and profitability of the project operations in place. This type of software can be used by all departments of a professional services company, from sales and marketing to accounting, as well as project managers.
Professional Services Automation Software Market Pricing
The professional services automation software pricing is estimated to range from USD 50 to USD 100 per year. The pricing depends on the specifications and features integrated into the software. The professional services automation software can be delivered as a product or as part of a financial management suite. Standalone professional services automation software must integrate with accounting software, ERP systems, or related point solutions such as AR automation software.
The research study analyzes the professional services automation software market, current market trends, and future estimations to explain the forthcoming investment pockets. The analysis of key drivers, trends, restraints, and opportunities and their impact on the market. Porter’s five forces analysis illuminates the influence of suppliers and consumers in the market. A quantitative analysis of the professional services automation software market from 2022 to 2033 is provided to estimate the market potential.
This report also contains the market size, opportunity index, and forecasts of Professional Services Automation Software Software in the global market, including the following market information:
- Global Professional Services Automation Software Market Revenue, 2018-2022, 2023-2033 (USD Millions)
- Global Professional Services Automation Software Market Sales, 2018-2022, 2023-2033, (Units)
- Global top five Professional Services Automation Software companies in 2022 (%)
The professional services automation software producers, suppliers, distributors, and industry experts in this end-use sector have been surveyed by Regional Research Reports. The survey included consumption, production, revenue generators, demand-side and supply-side factors, price change, product type analysis, current developments and strategies, market trends, drivers, difficulties, barriers, and potential risks.
Professional Services Automation Software Market Segmentation
Global Professional Services Automation Software Market, By Deployment Model, 2018-2021, 2022-2030 (USD Millions)
Global Professional Services Automation Software Market, By Component, 2018-2021, 2022-2030 (USD Millions)
Global Professional Services Automation Software Market, By End User, 2018-2021, 2022-2030 (USD Millions)
- Small Business
- Mid Market
Global Professional Services Automation Software Market, By Industry, 2018-2021, 2022-2030 (USD Millions)
- Energy & Utility
- IT & Telecommunication
- Retail & E-commerce
- Government & Defense
- Media & Entertainment
Global Professional Services Automation Software Market, By Region and Country, 2018-2021, 2022-2030 (USD Millions)
Global Professional Services Automation Software Market Segment Percentages, By Region and Country, 2021 (%)
- North America
- The U.K.
- Nordic Countries
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
Challenges with Professional Services Automation Software
The software itself may have its own set of difficulties. There are certainly important concerns with professional services automation software that one should think over because they are affecting many sectors and use cases (like customer assistance and e-commerce businesses).
Preference for human agents: Despite the fact that professional services automation software is excellent at many jobs, there are other situations, such as those that call for a lot of empathy, where a human agent may be more beneficial.
Handoffs to people: On occasion, professional services automation software may be unable to respond to a user's query. To properly address this issue, the system must be created, and transferring the user to a human agent is typically the best solution to this problem.
Global Professional Services Automation Software Market Trend
The market is driven by high investment in core software technology and the rising use of cloud-based professional services automation software.
Users typically turn to conversational interfaces for solutions to their urgent concerns. They want to query their data more organically, for instance. People may now communicate with their data by harnessing natural, intuitive language to identify and explore insights as natural language comprehension has increased. Instead of having to remember SQL queries, users can concentrate on identifying patterns and uncovering hidden meanings thanks to this sophisticated technology. Data-focused business people, like data analysts, can benefit from conversational interfaces like professional services automation software.
Voice is an easy way to communicate with people. We now speak to our machines using our voice; therefore, it seems to sense that the platforms for these speech bots have been quite successful. Technology becomes more approachable and trustworthy when it is spoken to. Voice will play a significant role as a natural interface for facilitating interactions between people and technology and, ultimately, within a world driven by AI.
AI is quickly becoming a promising feature of many, if not most, types of Software. With machine learning, end users can identify patterns in data, allowing them to make sense of content and help them understand what they are seeing. This pattern recognition fuels the rise of more powerful, contextually-aware Professional Services Automation Software.
Competitor Analysis of the Global Professional Services Automation Software Market
Analysis of leading companies and participants, including:
- Key companies Professional Services Automation Software revenues in the global market, 2018-2021 (Estimated), (USD Millions)
- Key companies Professional Services Automation Software revenues share in the global market, 2021 (%)
- Key companies Professional Services Automation Software sales in the global market, 2018-2021 (Estimated), (MT)
- Key companies Professional Services Automation Software sales share in the global market, 2021 (%)
Further, the report detailed the leading competitors in the market, namely:
- Microsoft Corporation
- Bigtime Software
- Kimble Applications
- Projector PSA
- Cloud Coach
- Autotask PSA
- Birdview PSA
- Unanet GovCon
Reason to buy this Report:
- Get a clear understanding of the market's current and future scenarios.
- Complete information on the entry-level research study as the report consists of considerable information focusing on market size estimations, key players, recent development acquisitions, and market trends.
- The report showcases a comprehensive segmental market analysis of all key geography and countries around the globe.
- Current, Historical, and forecasted market size from value (USD million) and volume (units).
Key Questions Answered in This Report:
- What will the market estimation and growth rate be from 2022 to 2030?
- What are the key dynamics, factors, and trends of the market?
- What is the primary driving substance for market growth?
- What is the restraint in the market?
- Who are the leading competitors with their market positioning share?
- Analysis of the market players and the market analysis through SWOT, PORTER's, and PESTEL study.