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 2017–2022. 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.

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 services component is expected to grow at a higher CAGR during the forecast period.

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.

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 and Value-added resellers

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 on the basis of product quality, reliability, and their business strategy.