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Professional Services Automation Market worth 1,244.8 Million USD by 2022

(IT-NEWSWIRE.COM, January 08, 2020 ) MarketsandMarkets expects the Professional Services Automation (PSA) market 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.

Browse 67 Market Data Tables and 31 Figures spread through 135 Pages and in-depth TOC on "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"

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.

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The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. Organizations with less than 1,000 employees are categorized as SMEs. SMEs face specific challenges, such as the requirement of domain-specific technical personnel and skilled workforce, budget constraints, scalability, management control, and limited economies of scale. The increasing usage of cloud-based offerings among various organizations has led to the implementation of PSA solutions among SMEs as well. The deployment of PSA on the cloud has helped organizations reduce their expenditure on IT infrastructure and its maintenance, as cloud-based PSA solutions are less expensive than the on-premises solutions.

The major vendors in the Professional Services Automation market include 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).

Browse Complete Report @ https://www.marketsandmarkets.com/Market-Reports/professional-services-automation-market-232788827.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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