In a recent published report, Kenneth Research has updated the market report for Professional Service Automation Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Professional Service Automation Market products.
According to a new research published by Polaris Market Research, the worldwide Professional Service Automation market is anticipated to reach around USD 16,407 million by 2026. 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 Professional Service Automation market.
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 Professional Service Automation.
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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 professional service automation market. The primary factors driving the Professional Service Automation 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 professional service automation 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 professional service automation in the region.
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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.
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