Professional
Service Automation (PSA) Software Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
Professional Service
Automation (PSA) Software Market research report offers detail overview of
industry with all the requisite data to support tactical business decisions and
come up with strategic growth plans. This study also proposes a comprehensive
insight into the development policies and plans in addition to manufacturing
processes and cost structures.
KEY BENEFITS
1. Professional Service Automation (PSA)
Software market analysis based on current industry scenario and expected future
trends to enable stakeholders take strategic decisions.
2. Analysis of the factors impacting the Professional
Service Automation (PSA) Software market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Professional Service
Automation (PSA) Software market top key players and their strategic moves.
5. Evaluation of Professional Service
Automation (PSA) Software market trends to provide deep-dive intelligence into
every market segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Professional Service Automation (PSA)
Software market micro-level analysis based on application, type and geography.
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Industry Insights
The global professional
service automation (PSA) software market size was valued at USD 6.65 billion in
2015 and is expected to reach USD 14.39 billion by 2024. PSA solutions are used
for refining operational visibility and process efficiency in services and
project-driven organizations. The PSA market is projected to witness huge
demand on account of changing the business model of enterprises over the
forecast period.
Essential functions of PSA
software characteristically comprises automated time & billing, project
management capabilities, and resource management. These systems additionally
provide powerful and consistent dashboards and reports offering management the
crucial information they require making informed decisions. Some of the other
advantages of PSA systems include project usefulness, better client
satisfaction, enhanced estimating capability, as well as reduced revenue
leakage. All the aforementioned advantages of PSA software are expected to
boost demand amongst the service companies over the next eight years.
Small and medium sized
organizations bank on spreadsheets to capture expense, time and manage
resources. SMBs lay emphasis on solutions which facilitate streamline and
automation processes. Businesses using customary tools for commercial purposes,
for instance, spreadsheets are likely to provide growth opportunities over the
forecast period. This solution decreases complete administration expenditure as
a result of the lesser manual, error-prone spreadsheets, and expensive data
re-entry. Increasing IT budget of small and medium enterprises (SMEs) are
predicted to drive market growth.
Solution vendors have added
features including opportunity and project management proficiencies for the
sustenance of deal capture, project delivery, and resource scheduling. The
major market players have incorporated functionalities such as graphical
reporting, support for a range of mobile devices, dashboards, and assimilation
with chief social channels to the prevailing solutions. This is expected to
improve products and gain a competitive edge.
Application Insights
Technology companies held
more than 40% of the overall income share in 2015 and it is also predicted to
carry on their domination in terms of market size by 2024. This solution is
utilized by legal firms, marketing firms, consulting firms, and communication
industry. Rising attractiveness of these tools amongst marketing and
communication companies is projected to increase implementation over the next
eight years. The growing reputation of social media and digital marketing is
also forecasted to fuel marketing & communications business in the future.
Deployment Insights
There exist two methods for
deployment used by the market participants who include cloud and on-premise. Of
these, cloud-based solutions hold the chief share in the market, whereas,
on-premise solutions are predicted to lose their revenue share over the next
eight years on account of the need for low costs of investments. However, rigid
regulations by the government for protecting the information stored on the
cloud are anticipated to hamper its growth over the forecast period.
Regional Insights
Europe and North America
are projected to be the foremost regions in the global PSA software market over
the next eight years as a result of the early adoption of software. In 2015,
the Asia-Pacific market for PSA software accounted for more than 18% of the
global revenue. It is also projected to grow at a CAGR of over 10% from 2016 to
2024. Growing implementation of these solutions by SMEs is forecasted to boost
the regional growth over the forecast period.
Competitive Market Share
Insights
The prominent players in
the global PSA software market include ChangePoint, FinancialForce.com,
NetSuite OpenAir, Tenrox, Autotask Corporation, Clarizen, Panview, Deltek,
Inc., Appirio, Inc., ConnectWise, Microsoft Corporation, Projector PSA,
Compuware Corporation, and Oracle.
Companies such as
ConnectWise, Harmany PSA, and Autotask Corporation source their product
offerings to fulfill the requirements of Managed Service Providers (MSPs).
Moreover, several new players are anticipated to foray into this space in the
near future. The most efficient initiatives adopted by the key industry players
to improve their technological proficiencies as well as gain quick access to
the emerging markets include strategic mergers & acquisitions and
partnerships.
Know
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