PUBLISHER: The Business Research Company | PRODUCT CODE: 1662003
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662003
Professional Service Automation (PSA) represents a software suite vital for service companies to oversee core business operations. It caters to various service-oriented entities like PSOs, embedded service providers, and managed service firms.
PSA comprises two key elements such as solutions and services. These solutions aid service companies in tasks such as time tracking and project management while also facilitating a deeper understanding of client needs and expectations. They enhance customer interactions, leading to increased satisfaction. PSA is utilized across small, medium, and large enterprises, both on-premise and in the cloud. Its applications span industries like BFSI, retail, healthcare, media, education, IT, telecom, government, legal, audit, and other sectors.
The professional service automation market research report is one of a series of new reports from The Business Research Company that provides professional service automation market statistics, including professional service automation industry global market size, regional shares, competitors with a professional service automation market share, detailed professional service automation market segments, market trends and opportunities, and any further data you may need to thrive in the professional service automation industry. This professional service automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The professional service automation market size has grown rapidly in recent years. It will grow from $1.52 billion in 2024 to $1.67 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to demand for efficiency, shift to service-based economy, demand for automation, remote work trends, project complexity management.
The professional service automation market size is expected to see rapid growth in the next few years. It will grow to $2.9 billion in 2029 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to service lifecycle management, scalability and adaptability, agile resource allocation, customer-centric solutions, integration with collaboration tools. Major trends in the forecast period include sustainability and ESG integration, integration with CRM and ERP systems, workflow automation, service lifecycle management, customizable and modular solutions, mobile optimization.
The increasing automation across various industries is significantly driving the growth of the professional service automation market. Automation enhances the speed, accuracy, and efficiency of numerous tasks that were previously performed by humans. It involves the development and application of technology to monitor and manage the production and delivery of goods and services. Professional service automation consolidates often fragmented systems and tools for time tracking, project management, resource management, invoice processing, and business intelligence into a single service automation platform. For example, in September 2024, the International Federation of Robotics, a Germany-based non-profit organization dedicated to promoting and protecting the robotics industry worldwide, reported that robot installations in Canada surged by 37% to 4,311 units in 2023. Therefore, the rise of automation across industries is fueling the growth of the professional service automation market.
Anticipated growth in the professional service automation sector is underpinned by the escalating adoption of cloud computing. Cloud technology, disseminating various computer services over the internet, delivers the agility and efficiency needed to meet the evolving demands of service-based businesses. The 2022 State of DevOps Report by Google Cloud DORA team highlighted an increase in users employing multiple public clouds, growing from 21% in 2021 to 26% in 2022, with hybrid cloud utilization soaring from 25% to 42.5%. Consequently, the burgeoning use of cloud computing continues to drive the professional service automation market.
Technological advancement is a significant trend in the professional service automation market. Major players are focused on developing advanced products that integrate cloud technology and artificial intelligence. Cloud deployment is managed on the service provider's infrastructure, allowing businesses to access and utilize these resources as needed at any time. Artificial intelligence combines computer science with extensive datasets to enhance problem-solving capabilities. Together, AI and the cloud are employed to automate business processes, making them more efficient and error-free. For example, in April 2022, FinancialForce (now Certinia), a US-based software company, launched enhanced automation and AI capabilities for its Professional Services Automation (PSA) platform, improving both functionality and user experience. The integration of artificial intelligence enables better forecasting and resource allocation, as AI tools analyze historical data to predict future project requirements and optimize resource management.
Major companies in the professional service automation market are increasingly adopting a strategic partnership approach to deliver comprehensive professional service automation solutions to their customers. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in August 2024, iQlink, a UK-based business management consultant, formed a partnership with Litera, a US-based provider of Salesforce-based CRM solutions specifically designed for law firms. This collaboration marks a significant milestone in iQlink's efforts to expand its presence in the law firm consulting sector. The partnership enables iQlink to integrate advanced CRM capabilities into its offerings, leading to streamlined operations, enhanced client engagement, and improved data management for law firms. These elements are critical components of professional service automation, which aims to optimize service delivery, enhance collaboration, and automate routine processes within professional services.
In August 2023, Deltek, a US-based enterprise software company, acquired Replicon for an undisclosed amount. This acquisition is intended to bolster Deltek's capabilities in workforce management, focusing on areas such as time tracking, resource management, and project profitability. Replicon is a Canada-based software-as-a-service company that specializes in task collaboration, resource allocation, and professional services automation.
Major companies operating in the professional service automation market are Microsoft Corporation, Kimble Applications, SAP SE, Projector PSA, Changepoint Corporation, FinancialForce, Atlassian Corporation PLC., ConnectWise, Mavenlink Inc., Oracle Corporation, Upland Software, Planview Clarizen, Project Open Business Solutions S.L, Kaseya Limited, Big Time Software, Appirio Inc., Autotask Corporation, Bastian Solutions LLC, Clarizen Inc., Compuware Corporation, Deltek Inc., Dematic GmbH, HarmonyPSA Inc., Infor Inc., Intapp Time Inc., Kantata APS, NetSuite OpenAir Inc., Promys AG, Scoro AS, Smartsheet Inc., Tigerpaw Software Inc., VOGSY Inc., Workday Inc., Workfront Inc., WorkWave LLC, Zoho Corporation
North America was the largest region in the professional service automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the professional service automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the professional service automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The professional service automation market includes revenues earned by entities by providing time tracking, project management, and other professional service automation solutions and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Professional Service Automation Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on professional service automation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for professional service automation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The professional service automation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.