Pune,India, March 02, 2023 (GLOBE NEWSWIRE) -- The global Project Portfolio Management Market Size was valued at USD 4.09 billion in 2021 and reached USD 4.29 billion in 2022. The market size is expected to touch USD 7.01 billion by 2029, exhibiting a CAGR of 7.3% during the forecast period. Rising demand for 360-degree perspective project cycle and rapid digitization are expected to propel industry progress. Fortune Business Insights™ provides this information in its report titled "Project Portfolio Management (PPM) Market Forecast 2023-2029"
Key Industry Development
Planview completed the acquisition of Clarizen and Changepoint and allowed its consumers to access resources and tools required for effective planning and execution of crucial initiatives.
Request a free sample PDF - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/project-portfolio-management-ppm-market-104257
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 7.3% |
| 2029 Value Projection | USD 7.1 Billion |
| Base Year | 2021 |
| Project Portfolio Management Market Size in 2021 | USD 4.09 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 170 |
| Segments covered | Component, Deployment, Application, Vertical, Region |
Key Takeaways-
- Project Portfolio Management Market is expected to flourish & reach USD 7.01 Billion in 2029
- The project manager can see the performance of the project in real-time and make changes as needed.
- The subscription-based purchase model is increasing the demand for cloud solutions among small and medium-sized businesses as they cannot afford to adopt pricey solutions.
- Cloud-based solutions are also in high demand due to their scalability, flexibility, and low cost. With a hosted deployment strategy, SaaS is simple and quick to install.
- Project Portfolio Management Market Size in North America was USD 2.02 Billion 2021
Drivers & Restraints-
- The market for Project Portfolio Management (PPM) software, which is designed to manage multiple projects within an organization, is set to experience significant growth.
- This growth is expected to be driven by the increasing demand for cloud-based PPM services. The continuous advancements in cloud-based applications, coupled with the growing dependence of modern businesses on cloud technology, are anticipated to further propel the industry's expansion. Moreover, the widespread use of portable computing devices is likely to contribute to the market's growth.
- Despite the positive outlook, the industry may face certain challenges, including the risk of data breaches and compromised confidentiality, which could potentially hinder its progress.
Regional Insights-
The Project Portfolio Management (PPM) Market in North America is expected to experience significant growth in the coming years, largely due to the increased adoption of advanced technologies. The market in this region was valued at USD 2.02 billion in 2021, and is predicted to capture a substantial portion of the global market share. PPM's robust processing capabilities and ease of accessibility are expected to further fuel industry growth.
Meanwhile, the Asia Pacific market is also expected to witness growth due to the rising number of industry players and their efforts to expand their geographical presence. The increasing digitalization and acceptance of technology in the region are expected to drive demand for PPM software and support market growth.
List of Key Players Mentioned in the Report-
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- SAP SE (Germany)
- Adobe (Workfront) (U.S.)
- Hewlett Packard Enterprise Development LP (U.S.)
- Broadcom Inc. (U.S.)
- ServiceNow (U.S.)
- HEXAGON AB (Sweden)
- ATLASSIAN (U.S.)
- Planview, Inc. (U.S.)
Access Full Report- https://www.fortunebusinessinsights.com/checkout-page/104257
Major Table of Contents-
- Global Project Portfolio Management (PPM) Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- Integration and Deployment
- Training and Consulting
- Support and Maintenance
- By Deployment (USD)
- On-premise
- Cloud-based
- Hosted
- By Enterprise Size (USD)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- By Application (USD)
- Project and Portfolio Governance
- Portfolio Dashboards and Analytics
- Visibility and Reporting
- Resource management
- Financial Planning and management
- Others (Time and Risk Management)
- By Vertical (USD)
- IT & Telecommunication
- BFSI
- Government
- Engineering & Construction
- Healthcare
- Others (Manufacturing, and others)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Project Portfolio Management (PPM) Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- Integration and Deployment
- Training and Consulting
- Support and Maintenance
- By Deployment (USD)
- On-premise
- Cloud-based
- Hosted
- By Enterprise Size (USD)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- By Application (USD)
- Project and Portfolio Governance
- Portfolio Dashboards and Analytics
- Visibility and Reporting
- Resource management
- Financial Planning and management
- Others (Time and Risk Management)
- By Vertical (USD)
- IT & Telecommunication
- BFSI
- Government
- Engineering & Construction
- Healthcare
- Others (Manufacturing, and others)
- By Country (USD)
- United States
- By Vertical
- Canada
- By Vertical
- Mexico
- By Vertical
- United States
- South America Project Portfolio Management (PPM) Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- Integration and Deployment
- Training and Consulting
- Support and Maintenance
- By Deployment (USD)
- On-premise
- Cloud-based
- Hosted
- By Enterprise Size (USD)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- By Application (USD)
- Project and Portfolio Governance
- Portfolio Dashboards and Analytics
- Visibility and Reporting
- Resource management
- Financial Planning and management
- Others (Time and Risk Management)
- By Vertical (USD)
- IT & Telecommunication
- BFSI
- Government
- Engineering & Construction
- Healthcare
- Others (Manufacturing, and others)
- By Country (USD)
- Brazil
- By Vertical
- Argentina
- By Vertical
- Rest of South America
- Brazil
TOC Continued…!
Related Report-
Online Project Management Software Market Share, Industry Report, 2023-2030
Task Management Software Market Revenue Growth Forecast to 2026
Business Process Management (BPM) Market Share, Revenue And Growth Rate Till 2028
FAQ:
How big is the Project Portfolio Management Market?
The global Project Portfolio Management (PPM) market size was valued at USD 4.09 billion in 2021 and is projected to grow from USD 4.29 billion in 2022 to USD 7.01 billion by 2029, exhibiting a CAGR of 7.3% during the forecast period.
How big is Project Portfolio Management Market in North America?
The market in North America stood at USD 2.02 Billion in 2021 and is expected to gain a huge portion of the market share in the coming years.
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
