Professional service automation market to reach $16,407 Mn by 2026

By OEM Update Editorial November 9, 2020 5:45 pm IST

The worldwide Professional Service Automation (PSA) market is anticipated to reach around USD 16,407 million by 2026, as per a new research published by Polaris Market Research. In 2017, the on-premise segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global PSA market.

According to the research report, the growing need to improve business efficiency, along with increasing requirement for scalable and flexible solutions increases the demand for professional service automation. The presence of stiff competition in the market drives organizations towards PSA to gain knowledge about probable future events and make data-driven business decisions to gain edge over competitors. The rising adoption of data analytics, and cloud computing boosts the adoption of PSA. Other factors driving the market growth include growing need for enhanced mobility, technological advancements, and growing adoption of cloud computing. New emerging markets, and increasing adoption by small and medium sized businesses would provide growth opportunities for Professional Service Automation market in the coming years.

In 2017, North America accounted for the highest share in the global PSA market. The primary factors driving the PSA market growth in the region include established telecommunication industry and cloud infrastructure, rising automation of business processes, technological advancements, and high investment in R&D. The increasing penetration of mobile devices, and rising adoption of cloud computing boost the PSA market in North America. The increased cloud deployments, rising adoption of online service delivery, and growing adoption of connected devices and IoT further increase the demand of PSA in the region.

The major players operating in this market include Microsoft Corporation, Autotask Corporation, Planview, Inc., NetSuite OpenAir, Inc., Projector PSA, Deltek, Inc., Kimble Apps, SAP SE, Appirio, Inc., and Compuware Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.