Information Communication and Technology Reports Professional Services Automation

Professional Services Automation Market is
projected to grow from USD 634.7 Million in
2016 to USD 1,244.8 Million by 2022
According to a new market research report” Professional Services Automation Market by Solution (Project
Management, Resource Management, and Opportunity and Lead Management), Service, Deployment Type (On-
Premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2022", published by
MarketsandMarkets™, The PSA market size is expected 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.
Growing need for enhanced mobility among service consultants, and for scalable and flexible PSA solutions is a
major factor driving the growth of the PSA market. Moreover, the increasing adoption of PSA solutions by Small
and Medium-sized Enterprises (SMEs) is expected to drive the PSA market.
Browse and in-depth TOC on “Professional Services Automation Market”
67 - Tables
31 - Figures
135 - Pages
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The rapid adoption of Professional Services Automation solutions, owing to a strong and well-established
economy is expected to make North America the largest regional market.
North America consists of developed economies, such as the US and Canada. In this region, organizations are
rapidly adopting and willing to invest in emerging technologies, such as smartphones and cloud platforms.
Organizations in North America are dealing with a concern of an aging workforce, which has been addressed
through effective implementation of Professional Services Automation. The major growth drivers include increased
cloud deployments and growing adoption of online service delivery. Furthermore, organizations in this region have
adopted the inorganic growth strategies to strengthen their presence across the world. For example, Oracle opted
for mergers and acquisitions to optimize and strengthen its portfolio.
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.