Global Project Portfolio Management Market Trends, Applications, Analysis, Growth, and Forecast to 2027

The Project Portfolio Management Market 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.

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The global project portfolio management market is segmented on the basis of business solution, platform type, deployment type, organization size, and region.

Project Portfolio Management Market Overview:

“The Project Portfolio Management Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Project portfolio management is an approach used by organizations to examine the risk of each project, the likelihood of a project, available funds, and expected outcomes. A group of decision-makers evaluates and determines the best way to invest in an 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 provides real-time information and analytics.

Rapid growth in automation and digitalization has stimulated the need for monitoring and providing analytical solutions to enhance productivity across various industries. In addition, proper utilization of resources, cost management, time tracking, data analytics, etc. are various facilities provided by project portfolio management software and services.

The rising adoption of cloud deployment services in small and medium scale enterprises (SMSE) and increasing penetration of connected devices in emerging economies are 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 as mobile-application-based portfolio management solutions, thereby enabling future opportunities for growth of this market.

A major challenge faced by the project portfolio management market is the relevance and use of software post-deployment, as enterprises fail to define their business problems to PPM vendors. In addition, the unavailability of skilled manpower is another challenge faced by this market.

High software cost is restricting the 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 the largest market share during the forecast period.

The market in the Asia Pacific is expected to grow at the highest CAGR of XX.X% during the forecast period. This growth is attributed to the 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
• Others

Global project portfolio management market segmentation by platform type:

• Software
• Services

Global project portfolio management market segmentation by deployment type:

• Cloud
• On-premise

Global project portfolio management market segmentation by organization size:

• Small & medium enterprises
• Large enterprises

Global project portfolio management market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa