Global Project Portfolio Management Market, By Component (Solution, Services), Deployment Mode (On-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Industry Vertical (Banking, Financial Services and Insurance (BFSI), IT and Telecom, Consumer Goods and Retail, Healthcare and Life Sciences, Manufacturing, Government and Defense, Energy and Utilities, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Project Portfolio Management Market
The project portfolio management market is expected to witness market growth at a rate of 5.90% in the forecast period of 2021 to 2028 and is expected to reach USD 6.60 billion by 2028. Data Bridge Market Research report on project portfolio management market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in demand for cloud-based PPM solutions is escalating the growth of project portfolio management market.
Product portfolio management refers to a form of business lifecycle function in an organization that assists in the planning, forecasting, and production of a product or products during all stages of product lifecycle. The software helps enterprises in enhancing their strategic planning and business execution by integrating people, data, process, and business systems. They accelerate the pace of innovation, improve productivity, and more effectively adapt to rapidly changing competitive dynamics and economic scenarios.
The rise in the adoption of cloud-based services for the remote monitoring of assignments, acts as one of the major factors driving the growth of project portfolio management market. The increase in the number of activities such as automation and digitalization across industries including healthcare, government, engineering and construction, BFSI and telecom raising the need for monitoring and analytical solutions with the purpose of enhancing productivity and business efficiency accelerate the project portfolio management market growth. The growing need for a 360-degree view of project operations and resource management as it assists in collaborative scheduling, planning, and faster and efficient decision-making and rising trend of bring your own device (BYOD) along with the growing focus of organizations on attaining faster Return on Investment (ROI) further influence the project portfolio management market. Additionally, rapid urbanization and digitization, increasing investments in research and development activities and growth in competition worldwide positively affect the project portfolio management market. Furthermore, embracing agile methods in order to reduce project costs and project failure extend profitable opportunities to the project portfolio management market players in the forecast period of 2021 to 2028.
On the other hand, the concerns of organizations related to data confidentiality and issues with blending modern PPM solutions with legacy systems are the factors expected to obstruct the project portfolio management market growth. The difficulty in the selection of right solution that aligns with organization’s business need is projected to challenge the project portfolio management market in the forecast period of 2021-2028.
This project portfolio management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on project portfolio management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Project Portfolio Management Market Scope and Market Size
The project portfolio management market is segmented on the basis of component, deployment mode, organization size and industry vertical. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of the component, the project portfolio management market is segmented into solution and services. Services are further segmented into consulting, and implementation and training, support and maintenance.
- On the basis of the deployment mode, the project portfolio management market is segmented into on-premises and cloud.
- On the basis of the organization size, the project portfolio management market is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
- On the basis of the industry vertical, the project portfolio management market is segmented into banking, financial services and insurance (BFSI), IT and telecom, consumer goods and retail, healthcare and life sciences, manufacturing, government and defense, energy and utilities and others. Others are further segmented into transportation and logistics, and marine and shipbuilding.
Global Project Portfolio Management Market Country Level Analysis
The project portfolio management market is analyzed and market size, volume information is provided by country, component, deployment mode, organization size and industry vertical as referenced above.
The countries covered in the global project portfolio management market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates project portfolio management market because of the quick adoption of latest technologies and cloud-based solutions, high investments in in leading technologies and tools for efficient project operations and presence of several prominent PPM solution providers within the region. . Asia-Pacific is expected to witness fastest growth in the forecast period of 2021-2028 due to the presence of emerging economies such as China and India, adoption of wireless devices such as mobile phones, laptops, and tablets and growing number of SMEs in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Project Portfolio Management Market Share Analysis
The project portfolio management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to project portfolio management market.
The major players covered in the project portfolio management market report are Oracle, Planview, Inc., Broadcom, SAP SE, Microsoft, Workfront, Inc., HEXAGON, ServiceNow, Upland Software, Inc., Micro Focus, Planisware, Sciforma, Clarizen, Sopheon, Cerri.com AG, Changepoint Corporation, Keyedin, Inc., One2Team, ONEPOINT Projects GmbH, Meisterplan, Bestoutcome, Project Objects, WorkOtter among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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