Global Project Portfolio Management Market Trends, Applications, Analysis, Growth, and Forecast to 2027
MarketResearch.biz, in its upcoming report titled, “Global Project Portfolio Management Market Trends, Applications, Analysis, Growth, and Forecast to 2027”, offers in-depth insights, revenue details, and other vital information regarding the global project portfolio management market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global project portfolio management market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global project portfolio management market is segmented on the basis of business solution, platform type, deployment type, organization size, and region. The global project portfolio management market was valued at US$ X.X billion in 2016, and is expected to reach US$ X.X billion over the forecast period at a double-digit CAGR of XX.X%.
Project portfolio management is an approach used by organizations to examine risk of each project, likelihood of a project, available funds, and expected outcomes. A group of decision makers evaluates and determines the best way to invest in organization’s resources. Project portfolio management does not include running the project but it assists in choosing which project to execute and how to fund it. Project profile management software’s provide real-time information and analytics.
Rapid growth in automation and digitalization has stimulated need for monitoring and providing analytical solutions to enhance productivity across various industries. In addition, proper utilization of resource, cost management, time tracking, data analytics etc. are various facilities provided by project portfolio management software’s and services. Rising adoption of cloud deployment services in small and medium scale enterprises (SMSE) and increasing penetration of connected devices in emerging economies is further expected to boost demand for project portfolio management in the global market. Increasing investments by key market players in research and development have led to innovative solutions such mobile-application based portfolio management solutions, thereby enabling future opportunities for growth of this market.
Major challenge faced by project portfolio management market is relevance and use of software post deployment, as enterprises fail to define their business problems to PPM vendors. In addition, unavailability of skilled manpower is another challenge faced by this market. High software cost is restricting adoption of project portfolio management solutions in SMSE but online solutions and cloud services are expected to overcome this restrain over the forecast period.
North America dominates the market in terms of revenue generation and is expected to hold largest market share during the forecast period. The market in Asia Pacific is expected to grow at highest CAGR of XX.X% during the forecast period. This growth is attributed to rising adoption of cloud based services and solutions especially in emerging economies in this region.
Global Project Portfolio Management Market Segmentation:
Global project portfolio management market segmentation by business solution:
- Information technology
- New product development
- Professional services
Global project portfolio management market segmentation by platform type:
Global project portfolio management market segmentation by deployment type:
Global project portfolio management market segmentation by organization size:
- Small & medium enterprises
- Large enterprises
Global project portfolio management market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- CA Technologies
- Microsoft Corporation
- Changepoint Corporation
- Oracle Corporation
- Hewlett Packard Enterprise
- SAP SE
- Workfront Inc.
- Planview Inc.
- Celoxis Technologies Pvt. Ltd.
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