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
[135 Pages Report] The professional services automation market is projected to grow from USD 634.7 Million in 2016 to USD 1,244.8 Million by 2022. The global market will grow at a Compound Annual Growth Rate (CAGR) of 11.7% during 20172022. The forecast period has been considered from 2017 to 2022, while 2016 is considered as the base year for estimating the market study.
Objectives of the Study:
The main objective of this report is to define, describe, and forecast the market on the basis of segments which include component, deployment type, organization size, vertical, and region. The report provides a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report forecasts the market size with respect to 5 main geographic regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments, such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities in the market.
The research methodology used to estimate and forecast the professional services automation market begins with the collection and analysis of data on key vendor product offerings and business strategies from secondary sources, such as OneSource Business Browser, D&B Hoovers, 10K Wizard, Bloomberg, Thomson StreetEvents, Factiva, IT service providers, technology providers, press releases and investor presentations of companies, white papers, technology journals, certified publications, articles from recognized authors, directories, and databases. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the total market size of the Market from the revenue of the key market software tool providers and service providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
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Industry Ecosystem
The professional services automation market ecosystem comprises vendors, such as 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). These professional service automation solutions vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy. These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to enhance their position in the market. Please visit 360Quadrants to see the vendor listing of Professional Service Automation Solutions.
Key Target Audience For Professional Services Automation Market
- Professional Services Automation vendors
- Project management solution providers
- Resource management solution providers
- Analytics vendors
- Project accounting solution providers
- Value-added resellers
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2016-2022 |
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Estimated year considered |
2016 |
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Forecast period |
2017-2022 |
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Forecast units |
Value (USD) |
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Segments covered |
Solution, Service, Deployment Type, Organization Size, Vertical and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
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Companies covered |
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) |
The research report categorizes the market to forecast the revenues and analyze the trends in each of the following submarkets:
Professional Services Automation Market By Component
- Solutions
- Project Management
- Project Accounting
- Timesheet and Expense Management
- Billing and Invoice Management
- Analytics
- Resource Management
- Opportunity Management
- Contract Management
- Others (Social and Knowledge Management)
- Services
- Training and Support
- Integration and Implementation
- Consulting
By Deployment Type
- On-premises
- Cloud
Professional Services Automation Market By Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large enterprises
By Vertical
- Information Technology (IT)
- Telecom
- Architecture, Engineering and Construction
- BSFI
- Legal Services
- Media and Entertainment
- Healthcare and Life sciences
- Government
- Audit and Accountancy
- Scientific Research and Development Services
- Others
Professional Services Automation Market By Region
- North America
- Europe
- MEA
- APAC
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Geographic Analysis
- Further breakdown of the North American professional services automation market into countries
- Further breakdown of the European Market into countries
- Further breakdown of the APAC market into countries
- Further breakdown of the MEA market into countries
- Further breakdown of the Latin American market into countries
Company Information
- Detailed analysis and profiling of additional market players
The professional services automation market 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. Several factors such as the increasing need for enhanced mobility among service consultants, growing trends of automation and reduction in the overall cost, and growing need for scalable and flexible professional services automation solutions are driving the growth of the market. Also, an increased adoption of professional services automation solutions and services by several industry verticals, such as audit and accountancy, media and entertainment, healthcare and life sciences, and legal services, is expected to boost the market growth.
The global professional services automation market is segmented by component (solutions and services), deployment type, organization size, vertical, and region. The services component is expected to grow at a higher CAGR during the forecast period because services help organizations in easily deploying the software on their premises or cloud and helps organizations to build successful client relationships through continual support over the business tenure.
The cloud deployment type is expected to grow at a higher CAGR during the forecast period. Cloud-based professional services automation solutions empower organizations to meet the varied needs of customers and to reduce overall cost. Cloud-based solutions offer enterprises various advantages such as disaster recovery, project monitoring, and economies of scale. Professional services automation solutions can be easily integrated with a customer relationship management (CRM) system to facilitate organizations to share business data and process, in order to automate quote to cash operation. Cloud-based professional services automation solutions offer organizations with subscription-based pricing. Due to the easy deployment of cloud deployment and its growing awareness of flexibility among organizations across all industries, its market size is expected to grow at a higher rate during the forecast period.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR in the professional services automation market during the forecast period. Organizations with less 1,000 employees are categorized as SMEs. The deployment of professional services automation on the cloud could help SMEs to reduce their expenditure on IT infrastructure and its maintenance, as cloud-based professional services automation solutions are less expensive than the on-premises solutions. Moreover, the entry of small vendors in the market has also provided an opportunity for organizations to have inexpensive solutions. The real-time monitoring capabilities, reliability, scalability, mobility, cost-effectiveness, user-friendliness, easy integration, increased agility, and increased efficiency are the main factors that encourage SMEs to adopt professional services automation solutions and services at a rapid pace.
The global market has been segmented by 5 major geographic regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America is estimated to have the largest market share and is projected to continue to dominate the market during the forecast period. North America is rapidly adopting emerging technologies, such as smartphones and cloud platforms. Major growth drivers of the market include increased cloud deployments and growing adoption of online service delivery. Furthermore, organizations in this region have adopted inorganic growth strategies to strengthen their presence across the world. However, system conflicts and lack of awareness about professional services automation solutions are hindering the growth of the Market.
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Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 27)
4.1 Attractive Market Opportunities in the Professional Services Automation Market
4.2 Market, By Region (2017)
4.3 Professional Services Automation Deployment Types Market, By Region (2017)
4.4 Professional Services Automation Organization Size Market, By Region (2017)
4.5 Market By Vertical and Region (2016)
5 Market Overview (Page No. - 31)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in the Need for Enhanced Mobility Among Service Consultants
5.2.1.2 Growing Trend of Automation and Reduction in the Overall Cost
5.2.1.3 Growing Need for Scalable and Flexible Professional Services Automation Solutions
5.2.2 Restraints
5.2.2.1 Security Concerns Related to Cloud-Based Professional Services Automation Solutions
5.2.3 Opportunities
5.2.3.1 Advancement in the SaaS Technology
5.2.3.2 Growth in Analytics and Big Data Technologies
5.2.4 Challenges
5.2.4.1 System Conflicts
5.2.4.2 Lack of Awareness About Professional Services Automation Solutions
5.3 Innovation Spotlight
6 Professional Services Automation Market Analysis, By Component (Page No. - 34)
6.1 Introduction
6.2 Solutions
6.2.1 Project Management
6.2.2 Project Accounting
6.2.3 Time and Expense Management
6.2.4 Project Analytics
6.2.5 Billing and Invoice Management
6.2.6 Resource Management
6.2.7 Contract Management
6.2.8 Opportunity and Lead Management
6.2.9 Others
6.3 Services
6.3.1 System Integration Services
6.3.2 Consulting
6.3.3 Training and Support
7 Market Analysis, By Deployment Type (Page No. - 47)
7.1 Introduction
7.2 Cloud
7.3 On-Premises
8 Market Analysis, By Organization Size (Page No. - 51)
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Professional Services Automation Market Analysis, By Vertical (Page No. - 55)
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Architecture, Engineering, and Construction
9.4 Information Technology
9.5 Telecom
9.6 Legal Services
9.7 Healthcare and Life Sciences
9.8 Audit and Accountancy
9.9 Government
9.10 Media and Entertainment
9.11 Scientific Research and Development Services
9.12 Others
10 Geographic Analysis (Page No. - 66)
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Company Profiles (Page No. - 86)
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
11.1 Autotask Corporation
11.2 Changepoint Corporation
11.3 Financialforce
11.4 Microsoft
11.5 Atlassian
11.6 Connectwise
11.7 Kimble Applications
11.8 Mavenlink, Inc.
11.9 Oracle
11.10 SAP
11.11 Upland Software
11.12 Projector PSA
11.13 Workday
*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.
11.14 Key Innovators
11.14.1 Project Open Business Solutions S.L
11.14.2 Kaseya
11.14.3 Promys PSA
11.14.4 Atera Networks Ltd.
12 Appendix (Page No. - 126)
12.1 Key Industry Insights
12.2 Discussion Guide
12.3 Knowledge Store: MarketsandMarkets Subscription Portal
12.4 Introducing RT: Real Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (67 Tables)
Table 1 US Dollar Exchange Rate
Table 2 Professional Services Automation Market Size, By Component, 20152022 (USD Million)
Table 3 Solutions: Market Size, By Type, 20152022 (USD Million)
Table 4 Solutions: Market Size, By Region, 20152022 (USD Million)
Table 5 Project Management Market Size, By Region, 20152022 (USD Million)
Table 6 Project Accounting Market Size, By Region, 20152022 (USD Million)
Table 7 Time and Expense Management Market Size, By Region, 20152022 (USD Million)
Table 8 Project Analytics Market Size, By Region, 20152022 (USD Million)
Table 9 Billing and Invoice Management Market Size, By Region, 20152022 (USD Million)
Table 10 Resource Management Market Size, By Region, 20152022 (USD Million)
Table 11 Contract Management Market Size, By Region, 20152022 (USD Million)
Table 12 Opportunity and Lead Management Market Size, By Region, 20152022 (USD Million)
Table 13 Other Solutions Market Size, By Region, 20152022 (USD Million)
Table 14 Services: Market Size, By Region, 20152022 (USD Million)
Table 15 Services: Market Size, By Type, 20152022 (USD Million)
Table 16 System Integration Services Market Size, By Region, 20152022 (USD Million)
Table 17 Consulting Market Size, By Region, 20152022 (USD Million)
Table 18 Training and Support Market Size, By Region, 20152022 (USD Million)
Table 19 Professional Services Automation Market Size, By Deployment Type, 20152022 (USD Million)
Table 20 Cloud: Market Size, By Region, 20152022 (USD Million)
Table 21 On-Premises: Market Size, By Region, 20152022 (USD Million)
Table 22 Market Size By Organization Size, 20152022 (USD Million)
Table 23 Large Enterprises: Market Size, By Region, 20152022 (USD Million)
Table 24 Small and Medium-Sized Enterprises: Market Size, By Region, 20152022 (USD Million)
Table 25 Professional Services Automation Market Size, By Vertical, 20152022 (USD Million)
Table 26 Banking, Financial Services, and Insurance: Market Size, By Region, 20152022 (USD Million)
Table 27 Architecture, Engineering, and Construction: Market Size, By Region, 20152022 (USD Million)
Table 28 Information Technology: Market Size, By Region, 20152022 (USD Million)
Table 29 Telecom: Market Size, By Region, 20152022 (USD Million)
Table 30 Legal Services: Market Size, By Region, 20152022 (USD Million)
Table 31 Healthcare and Life Sciences: Market Size, By Region, 20152022 (USD Million)
Table 32 Audit and Accountancy: Market Size, By Region, 20152022 (USD Million)
Table 33 Government: Market Size, By Region, 20152022 (USD Million)
Table 34 Media and Entertainment: Market Size, By Region, 20152022 (USD Million)
Table 35 Scientific Research and Development Services: Market Size, By Region, 20152022 (USD Million)
Table 36 Others: Market Size, By Region, 20152022 (USD Million)
Table 37 Professional Services Automation Market Size, By Region, 20152022 (USD Million)
Table 38 North America: Market Size, By Component, 20152022 (USD Million)
Table 39 North America: Market Size, By Solution, 20152022 (USD Million)
Table 40 North America: Market Size, By Service, 20152022 (USD Million)
Table 41 North America: Market Size, By Deployment Type, 20152022 (USD Million)
Table 42 North America: Market Size, By Organization Size, 20152022 (USD Million)
Table 43 North America: Market Size, By Vertical, 20152022 (USD Million)
Table 44 Europe: Professional Services Automation Market Size, By Component, 20152022 (USD Million)
Table 45 Europe: Market Size, By Solution, 20152022 (USD Million)
Table 46 Europe: Market Size, By Service, 20152022 (USD Million)
Table 47 Europe: Market Size, By Deployment Type, 20152022 (USD Million)
Table 48 Europe: Market Size, By Organization Size, 20152022 (USD Million)
Table 49 Europe: Market Size, By Vertical, 20152022 (USD Million)
Table 50 Asia Pacific: Professional Services Automation Market Size, By Component, 20152022 (USD Million)
Table 51 Asia Pacific: Market Size, By Solution, 20152022 (USD Million)
Table 52 Asia Pacific: Market Size, By Service, 20152022 (USD Million)
Table 53 Asia Pacific: Market Size, By Deployment Type, 20152022 (USD Million)
Table 54 Asia Pacific: Market Size, By Organization Size, 20152022 (USD Million)
Table 55 Asia Pacific: Market Size, By Vertical, 20152022 (USD Million)
Table 56 Middle East and Africa: Professional Services Automation Market Size, By Component, 20152022 (USD Million)
Table 57 Middle East and Africa: Market Size, By Solution, 20152022 (USD Million)
Table 58 Middle East and Africa: Market Size, By Service, 20152022 (USD Million)
Table 59 Middle East and Africa: Market Size, By Deployment Type, 20152022 (USD Million)
Table 60 Middle East and Africa: Market Size, By Organization Size, 20152022 (USD Million)
Table 61 Middle East and Africa: Market Size, By Vertical, 20152022 (USD Million)
Table 62 Latin America: Market Size, By Component, 20152022 (USD Million)
Table 63 Latin America: Market Size, By Solution, 20152022 (USD Million)
Table 64 Latin America: Market Size, By Service, 20152022 (USD Million)
Table 65 Latin America: Market Size, By Deployment Type, 20152022 (USD Million)
Table 66 Latin America: Professional Services Automation Market Size, By Organization Size, 20152022 (USD Million)
Table 67 Latin America: Market Size, By Vertical, 20152022 (USD Million)
List of Figures (31 Figures)
Figure 1 Professional Services Automation Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market: Assumptions
Figure 8 Top 3 Segments With the Largest Market Shares in 2017
Figure 9 Market: Regional Snapshot
Figure 10 Automation of Business Operations and Increased Overall Productivity of Organizations are Expected to Drive the Growth of the Market
Figure 11 North America to Dominate the Market Across All Components
Figure 12 North America to Dominate the Market Across All Deployment Types
Figure 13 North America is Expected to Dominate the Market Across All Organization Sizes
Figure 14 North America Accounted for the Largest Share in 2016
Figure 15 Professional Services Automation Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 Project Analytics is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 System Integration Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Audit and Accountancy Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Asia Pacific is Expected to Witness Significant Growth During the Forecast Period
Figure 23 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Asia Pacific: Professional Services Automation Market Snapshot
Figure 26 Microsoft: Company Snapshot
Figure 27 Atlassian: Company Snapshot
Figure 28 Oracle: Company Snapshot
Figure 29 SAP: Company Snapshot
Figure 30 Upland Software: Company Snapshot
Figure 31 Workday: Company Snapshot
Growth opportunities and latent adjacency in Professional Services Automation Market