The global Project Portfolio Management (PPM) market size is anticipated to reach at USD 7 billion by 2025. The increasing implementation of cloud-based solutions for the remote monitoring of projects is a significant factor responsible to fuel the project portfolio management industry growth globally. It also enables a 350-degree view into resource management and project operations thus enhancing the efficiency and revenue growth of the enterprises.
The surge in activities such as digitalization and automation throughout the industry verticals including government, BFSI, healthcare, engineering & construction, telecom, etc. has augmented the requirement for analytical solutions and monitoring to enhance business functionality and productivity. On the other hand, the growing penetration of connected devices within the developing nations is further anticipated to maintain the project portfolio management industry growth.
Key Segments of the Global Project Portfolio Management Market
Component Overview, 2018-2025 (USD Billion)
Organization Size Overview, 2018-2025 (USD Billion)
- Small & Medium Enterprise
- Large Enterprise
Vertical Overview, 2018-2025 (USD Billion)
- IT & Telecom
- Engineering & Construction
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global project portfolio management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global project portfolio management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the project portfolio management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on product type, component, organization, and vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global project portfolio management market. The report will benefit:
- Every stakeholder involved in the project portfolio management market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global project portfolio management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global project portfolio management market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Due to the widespread of the digital world, enterprises have enhanced their scale of operations by differentiating their product portfolio. Thus, to handle the entire product information right from the ideation to its implement becomes complicated and hence, led to the introduction of new solutions called project portfolio management. Additionally, the operationality of the products is growing, making their support and development more intricate. The need for making the product advancement process easier across the industry verticals has encouraged the demand for PPM solutions in the past few years. However, the complexity and cost issues associated with the project portfolio management software have been hindering the industry growth. In different enterprise applications, PPM needs massive cost and has to face difficulty in the IT infrastructure. On the other hand, it also requires cross-functional corporation, as well as needs significant investment to manage both the organizational and technical aspects of the implementation.
The global Project Portfolio Management market contains both solutions and services segments. The solutions segment of the project portfolio management component has a maximum revenue share within the project portfolio management market in 2019. The growing focus on innovation within the organizations is creating a huge prospective for new product development solutions. However, the services segment is expected to grow at a considerable CAGR over the forecast period.
Organization Size Segment
Based on the data center type segment, the market is segmented into small & medium enterprises and large enterprises. The market for large enterprises to possess the largest market share in 2019 since enterprises today are predominantly developing to match their user needs. However, the small & medium enterprise is projected to grow with a considerable growth rate in the next five years.
Based on the application, the market is segmented into BFSI, IT & telecom, government, healthcare, engineering & construction, manufacturing, and others. BFSI sector is witnessed to hold a considerable market share for the project portfolio management market in 2019. The engineering & construction sector is anticipated to grow at the highest CAGR from 2020 to 2025 owing to the growing requirement of solutions that facilitate in monitoring customer information and transactional data, subsequently offering high transparency.
North America holds the title of one of the leading Project Portfolio Management Market share region due to the expansion of demand in data centers that projects the process in positioning and designing as per the business needs. Resulting in the high demand and maximum numbers of market share. Taking Europe into the loop, the market is efficiently experiencing a high growth rate due to increasing demand for project management solutions among the businesses to lessen the cost. The surging intricacy in the business functions owing to the multiregional outsourcing activities and operations further fuel the growth of the PPM industry.
The major players of the global project portfolio management market are Microsoft, SAP SE, Oracle, Broadcom, Hexagon, Planview, Workfront, ServiceNow, Upland Software, Micro Focus, Planisware, Sciforma, and more. The project portfolio management market is fragmented with the existence of well-known global and domestic players across the globe.