Delivered December 30, 2019. Contributor: Methody G.
To determine the market size of the Professional Services Automation market in the United States and determine the breakdown by specialization of the market.
Professional Services Automation market
The global Professional Services Automation market will reach $1.244 billion by 2022, growing at a CAGR of 11.7%.
The North American market holds 48% of that market, meaning that the NA market will reach $607 million (0.48% * $1.244 billion) in 2022.
Using a CAGR calculator, we have estimated that the 2019 market size for the North American market would be $424.6 million
While numerous reports have stated that the US is the major shareholder of professional services automation solution in North America, we were not able to find a specific breakdown that details the exact % of the market it holds despite looking through severalindustry and government reports such as Markets and Markets, Grandview Research, and the BLS.
The Professional Services Automation market is divided into three main solution types: project management, resource management, and opportunity and lead management.
In 2018, the IT technologies sector occupied the biggest market share of the Professional Services Automation software market, with 46%. Assuming that the market share would remain the same for 2019, this segment would be worth $1.822 billion in 2019 (0.46% * $3.96 billion).
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